Kiddie Kandids filed for bankruptcy

They closed down all their stores and fired their employees this morning Just a heads up for anyone who may have an open order with them.

Here's an article

Kiddie Kandids bankrutpcy

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Re: Kiddie Kandids filed for bankruptcy

Oh no! I had a gift certificate for them from my shower!!!

Re: Kiddie Kandids filed for bankruptcy

Re: Kiddie Kandids filed for bankruptcy

Oh no, I thought they were great. I'm sure another company will take them over for their locations within the BRUs.

Re: Kiddie Kandids filed for bankruptcy

wow

Re: Kiddie Kandids filed for bankruptcy

Shocking!

Re: Kiddie Kandids filed for bankruptcy

Wow. Told not to report for work, they're probably not going to get their paychecks either.

I wonder if the people who had photos done already will get them.

It doesn't say if they are filed or if they are filing Chapter 7 or Chapter 11.

I wonder how the issue of copyright will be dealt with also should they dissolve. How would somebody get a reprint, etc.

I bet that their assets will end up being bought by a healthier competitor though, should reorganization not be possible.

Re: Kiddie Kandids filed for bankruptcy

wow - that is horrible! But i will say i used them several times and this last time I had a lot of problems.

Re: Kiddie Kandids filed for bankruptcy

Oh no! Is this all locations?

ETA- my avatar is from there

Message edited 1/11/2010 12:52:01 PM.

Re: Kiddie Kandids filed for bankruptcy

Posted by Gatsbygirl

Oh no! Is this all locations?

ETA- my avatar is from there

Re: Kiddie Kandids filed for bankruptcy

I'm not surprised. Never cared for the company or their pictures...

From a link:

Sunday, January 10, 2010

To All Kiddie Kandids Employees:

In an abrupt and unforeseen turn of events, Kiddie Kandids’ lenders have informed management that they will no longer fund our operations. Without continued funding, Kiddie Kandids is unable to meet its financial obligations, including its payroll. As a result, it is my unfortunate duty to inform you that, effective immediately, Kiddie Kandids must completely cease operations and relieve all employees of their positions with the company.

In the coming days, Kiddie Kandids will file Chapter 7 bankruptcy, and all decisions will then be made by a trustee appointed by the Trustee’s Office of the Federal Bankruptcy Court in Salt Lake City. Between now and then, the company will work to maximize the Chapter 7 trustee’s capability to pursue a sale to another photography studio company that could possibly restart operations, but we have no control over these events, and can not assure you that any operations will be restarted.

We realize that this sudden and deeply unfortunate news will cause great concern to you and your families, and you have many questions. We will not have the capacity to answer each of your individual questions, but please keep this in mind: because of the unforeseen termination of funding by the lenders, there is no money to pay payroll (both past and future), there is no money to reimburse expenses, and there is no money to pay our suppliers.

In regards to health insurance, we regret to inform you there is no money to pay health related bills from the company’s self-insured plan, thus you do not have health insurance. There are no COBRA programs available from defunct plans such as ours either.

Subject to your particular state laws and your employment status, you are likely to be eligible for unemployment benefits, and we would encourage you to take this letter with you to the local unemployment office.

We will attempt to setup a blog where management or the trustee can communicate future developments. If possible, we encourage you to consult the site for additional information as it becomes available.

I deeply regret that these unfortunate events have necessitated Kiddie Kandids’ closure. I thank you each for your loyal service.

Sincerely,

Dale Merrill

President, Kiddie Kandids

Message edited 1/11/2010 1:00:15 PM.

Re: Kiddie Kandids filed for bankruptcy

So it is Chapter 7.

How awful they didn't attempt a Chapter 11 reorg first.

More horrible are all of the folks who are now without paychecks or insurance. I bet Dale got HIS paycheck though.

Re: Kiddie Kandids filed for bankruptcy

I never used them but pretty

Message edited 1/11/2010 1:12:06 PM.

Re: Kiddie Kandids filed for bankruptcy

wow!

Re: Kiddie Kandids filed for bankruptcy

Wow thats awful for their employees - they can't even get COBRA.

Re: Kiddie Kandids filed for bankruptcy

that letter is harsh! how horrible!

Re: Kiddie Kandids filed for bankruptcy

that is rough for their employees. Hopefully a new company will take them over soon

Re: Kiddie Kandids filed for bankruptcy

thats so sad. i hope pple get the pics they paid for.

those poor workers too..what a crummy way to find out!

Re: Kiddie Kandids filed for bankruptcy

That's crazy.

What a sucky way of going down They don't even have the common courtesy of notifiying their employees before hand...and all those people with pictures waiting to be picked up.

Message edited 1/11/2010 1:51:11 PM.

Re: Kiddie Kandids filed for bankruptcy

I was just reading the facebook page and I am so sad for those people. They will not be getting paid how sad.

Re: Kiddie Kandids filed for bankruptcy

Wow, I feel so bad for the employees.

Re: Kiddie Kandids filed for bankruptcy

Posted by jambalady

Wow, I feel so bad for the employees.

Re: Kiddie Kandids filed for bankruptcy

Does anyone know whether they have any other corporate name? I'm not yet seeing an electronic case file on them in any bankruptcy court. There is not yet any information on the bankruptcy list serves I belong to. Nonetheless, these articles are from good sources and with people having called the stores, the writing is on the wall. I was very very happy with Kiddie Kandids except for the fact that I wish it was a bit cleaner. My pediatrician put a scare into me about germs at the public photo places.

Hey, I have an idea, just for fun let's start a tribute thread of all our favorite KK photos. Who wants to begin?

I'll post more bankruptcy information if I come into any. ETA: Employee payroll is one of the first things that will get paid out of the bankruptcy estate.

Message edited 1/11/2010 2:29:58 PM.

Re: Kiddie Kandids filed for bankruptcy

Damn it - I have a GC I never used !!!

Re: Kiddie Kandids filed for bankruptcy

How on earth do they do all of this without "forseeing" that it was going to happen.

bullcrap.