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Metsmomma
Happy Winter!
Member since 1/09 5351 total posts
Name:
Renee
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Re: Kiddie Kandids filed for bankruptcy
wow i am so upset!!!!
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Posted 1/11/10 3:28 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: Kiddie Kandids filed for bankruptcy
Posted by leighla
How on earth do they do all of this without "forseeing" that it was going to happen.
bullcrap.
ITA-NICE letter you azzhole. Hmmmm I wonder if they "informed" any of the employees that they were steps away from destitution and that they would not be covered by health insurance. Horrible horrible business
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| Posted 1/11/10 3:34 PM |
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tourist
Member since 5/05 10425 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
Posted by chmlengr
From a link:
In an abrupt and unforeseen turn of events, Kiddie Kandids’ lenders have informed management that they will no longer fund our operations.
What does that mean? They relied entirely on borrowed money?
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| Posted 1/11/10 3:36 PM |
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tara73
carseat nerd
Member since 11/09 3669 total posts
Name:
Buttercup
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Re: Kiddie Kandids filed for bankruptcy
Yeah, Payroll will get done eventually but that doesn't help folks who are due their pay, especially if they haven't even filed the petition yet. I read somewhere on another forum that a poster's gf was owed 2 weeks of pay already.
Either way, people are out of work and can't even get COBRA coverage. I also wonder when they stopped paying the medical insurance premiums.
Every article I can find states they plan to file in the coming days and hope that another studio will buy them so they can resume operations.
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| Posted 1/11/10 3:41 PM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
Posted by DRMom
Posted by leighla
How on earth do they do all of this without "forseeing" that it was going to happen.
bullcrap.
ITA-NICE letter you azzhole. Hmmmm I wonder if they "informed" any of the employees that they were steps away from destitution and that they would not be covered by health insurance. Horrible horrible business
I agree.
This is terrible, those poor employees
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| Posted 1/11/10 3:46 PM |
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tara73
carseat nerd
Member since 11/09 3669 total posts
Name:
Buttercup
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Re: Kiddie Kandids filed for bankruptcy
Posted by tourist
Posted by chmlengr
From a link:
In an abrupt and unforeseen turn of events, Kiddie Kandids’ lenders have informed management that they will no longer fund our operations.
What does that mean? They relied entirely on borrowed money?
Basically, yes. A lot of companies use a line of credit to pay out their payroll and other day to day operating costs while waiting on receivables.
Surprisingly, it's a common business practice. It's done here at that company I work at to make payroll on "short" weeks (like, if we are waiting on a big payment that won't come until next Monday, but payroll goes out on this Thursday, you need funds to cover payroll checks) and repaid nearly immediately.
If that line of credit were cut off, we would probably be up the creek without a paddle, too.
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| Posted 1/11/10 3:46 PM |
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TLC1018
I AM A BIG SISTER!!
Member since 8/07 3880 total posts
Name:
Tracy
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Re: Kiddie Kandids filed for bankruptcy
I had $125 gc that I just used about a month ago! Thank goodness!!
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| Posted 1/11/10 3:48 PM |
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newmammahere
LIF Infant
Member since 6/09 188 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
I have a GC! Is there anyplace I can use it?
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| Posted 1/11/10 3:53 PM |
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MrsRivera
2 under 2...whew!!
Member since 2/07 9876 total posts
Name:
Beth
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Re: Kiddie Kandids filed for bankruptcy
Posted by jambalady
Wow, I feel so bad for the employees.
Same here. I used to work for a photo studio, and those photographers work HARD. I think it's awful the way they were treated, and the way the letter was worded. I know that bankruptcy is a reality, but I also think it's ridiculous that they can just walk away and not pay their employees for the time they worked.
I definitely smell a lawsuit coming...
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| Posted 1/11/10 4:03 PM |
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Lillykat
going along for the ride...
Member since 5/05 16253 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
That is disgusting (I just read the letter) those poor people worked for 2 weeks with no pay - now they will have no health insurance (no cobra) and no paycheck. Many of their employees are young - I bet they need that money to pay for school and basic living expenses. Those poor people.
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| Posted 1/11/10 5:28 PM |
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Lillykat
going along for the ride...
Member since 5/05 16253 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
Posted by newmammahere
I have a GC! Is there anyplace I can use it?
No they are completely gone over night.
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| Posted 1/11/10 5:30 PM |
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pinky
Twin Moms Do Everything Twice
Member since 5/05 9612 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
That's horrible! I loved KK
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| Posted 1/11/10 6:50 PM |
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Re: Kiddie Kandids filed for bankruptcy
Posted by DRMom
Posted by leighla
How on earth do they do all of this without "forseeing" that it was going to happen.
bullcrap.
ITA-NICE letter you azzhole. Hmmmm I wonder if they "informed" any of the employees that they were steps away from destitution and that they would not be covered by health insurance. Horrible horrible business
Seriously!!! What a horrible thing to do!!!! 
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| Posted 1/11/10 6:56 PM |
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Re: Kiddie Kandids filed for bankruptcy
From the FB page:
Kiddie Kandids Happy 2010! To help you get the new year off to a great start we are having a 50% off sale. Our portait sheets are 50% off now thru January 17th. (Six-sheet minumum purchase required) There's no better way to start the new year off than with a smile.
January 7 at 6:57pm
Think they knew??? 
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| Posted 1/11/10 7:00 PM |
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FelAndJon
needs to update her avatar pic
Member since 6/05 10212 total posts
Name:
Felice (aka LuckyBride2004)
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Re: Kiddie Kandids filed for bankruptcy
Wow, I got chills reading that letter. How terrible for all the families affected by this (I am referring to the employees, of course)
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| Posted 1/11/10 7:15 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Kiddie Kandids filed for bankruptcy
how sad for their employees.....
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| Posted 1/11/10 7:41 PM |
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WoodIAm
My Boys!
Member since 5/05 5498 total posts
Name:
JoAnne
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Re: Kiddie Kandids filed for bankruptcy
I went on the website last night to book an appointment, but decided to wait until today. I just went on and saw the announcement. I'm so upset, I have tons of pictures with them and now wish I had gotten more copies!
I really feel horrible for their mployees!
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| Posted 1/11/10 8:26 PM |
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michele31
LIF Adult
Member since 5/05 3372 total posts
Name:
Michele
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Re: Kiddie Kandids filed for bankruptcy
They cannot give employees much notice. They have known this was possible for weeks even months probably trying to figure out a solution while running the business.
It is awful and scary.
I feel so badly for employee and families that got an e-mail like this. Just very sad.
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| Posted 1/11/10 8:31 PM |
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ArloH
LIF Zygote
Member since 10/11 1 total post
Name:
Arlo Hoffman
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Re: Kiddie Kandids filed for bankruptcy
Bankruptcy is normal nowadays but the good thing is, the American Bankruptcy Institute shows off brand new figures that individual filings are down. I read this here: Bankruptcy filings decrease in September, but hold the applause.However, this is most likely not a symbol of an economic uptick, as reported by several professionals. As reported by some, these statistics are decreasing due to several other factors.
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| Posted 10/8/11 4:25 AM |
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QuackQuack
LIF Adolescent
Member since 12/06 572 total posts
Name:
Chrissy
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Re: Kiddie Kandids filed for bankruptcy
FYI - this post was from Jan 2010
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| Posted 10/8/11 10:05 AM |
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lynnd126
LIF Adult
Member since 3/11 2630 total posts
Name:
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Re: Kiddie Kandids filed for bankruptcy
Posted by QuackQuack
FYI - this post was from Jan 2010
Lol, yeah I was going to say didn't this happen already and didn't they make a comeback? (Although I personally thought they were terrible and should have stayed closed but I'm sure that has a lot to do with my local one and their photog etc.)
Also, as a side note, while they were closed the BRU by my house stacked boxes of wipes a mile high and wide to sort of "cover" that the Kiddie Kandids space was even there, lol. I always got a kick out of that.
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| Posted 10/8/11 10:15 AM |
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