NEWS FROM THE LAW FIRM OF ALDERMAN & ALDERMAN

PORCH AND PATIO MEMORIAL DAY WEEKEND SALES FROM ITS
“GOING OUT OF BUSINESS SALE” EXCEED EXPECTATIONS
REQUIRING ADDITIONAL INVENTORY FROM STORE WAREHOUSES

 
For immediate release: 5/30/06
For more information:

Myles Alderman

myles.alderman@alderman.com
860.249-0090

(Hartford, CT) – During the Memorial Day Weekend Kick-off to the going out of business sale for Porch and Patio Connecticut consumers purchased outdoor furniture and fireplace accessories with a suggest retail price of approximately $300,000.  For this furniture and accessories these same consumers paid approximately $210,000.  Demand was so brisk that Porch & Patio was required to order additional inventory moved from its warehouses to its retail stores.

On Friday Morning, May 26, the United States Bankruptcy Court in New Haven entered the court orders necessary to begin Porch and Patio’s “Going Out Of Business Sale” for  Memorial Day Weekend. The two orders approved the process by which the sale managers will be compensated and the proceeds of the sale will be distributed.  The entire Porch & Patio inventory is estimated to have a suggested retail value of approximately $2 million dollars. 

For over 50 years, Porch and Patio has been selling quality brands of outdoor furniture from its locations in Orange and Wethersfield, Connecticut.  Last year Porch & Patio  earned the coveted Apollo Award from the Summer and Casual Furniture Manufacturers Association.  Porch and Patio filed for protection from creditors under Chapter 11 of the United States Bankruptcy Code on May 5, 2006.   The Debtor retained Myles Alderman of the law firm of Alderman & Alderman to serve as its lead bankruptcy counsel.

During the month of May, Myles Alderman worked closely with Attorneys Joe Lubertazzi and David Reif, from the law firm of McCarter English, who represented Wachovia Bank, Attorney Holley Claiborn, from the office of the United States Trustee and Attorney General Richard Blumenthal’s office,  to negotiate the orders that were approved by the United States Bankruptcy Court in New Haven, CT  last week to make this sale possible.   “I am pleased that as a result of  the substantial efforts of  all of the parties involved, we were able to obtain the Court Orders necessary to proceed with this going out of business sale for this Chapter 11 debtor in a manner that is offering  real value with appropriate measures in place to protect Connecticut consumers.” Alderman said
 
Porch & Patio’s entire inventory of outdoor furniture and fireplace accessories  is on sale from 10 a.m. to 7 p.m. on Monday through Saturday and from 12 noon to 5 p.m. on Sunday.  The stores are located at 363 Post Road, Rt. 1, Orange, CT (at exit 41 off I-95), (203) 795-4599 and at 898 Silas Deane Highway, Rt. 99, Wethersfield, CT, (860) 513-4599. 

“Everything in the stores is being sold at no less than 30 percent off the manufacturer’s suggested retail price.  All kinds of furniture, fireplace accessories and patio sets will be on sale,” said Porch and Patio Company President Ben Fronsaglia.

Consumers with deposits on furniture at Porch and Patio should bring their receipts and related evidence of payment to the Porch & Patio store in Wethersfield or Orange, CT.   If the furniture for which they placed a deposit is available, their purchase will be completed and they may pick up their furniture.  Consumers that made deposits for furniture that is not available may choose to receive a store coupon for 50 percent of their deposit, or file a proof of claim.

 With retail locations in Wethersfield and Orange, CT, Porch and Patio has offered the highest quality outdoor and casual furniture at the guaranteed best value. Since 1951, Porch and Patio has offered exclusive and trend setting lines from the industries finest manufacturers.

For more information about the sale, visit www.alderman.com/porchandpatio or contact Attorney Myles Alderman at myles.alderman@alderman.com.

 

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