To: Anthony@Pacific who wrote (8424 ) 2/2/1999 6:32:00 PM From: Jay Fisk Respond to
Selective Biographic Omission, or "Something Else" ? biz.yahoo.com Rachmil Lekach as President of its newly formed Internet subsidiary, Perfumania.com. Mr. Lekach joins Perfumania.com from Ocean Reef Capital Management where he was Chief Executive Officer. He has substantial experience in the fragrance industry and was co-founder and former Chief Operating Officer of Perfumania, Inc, and President and Director of Parlux Fragrances, Inc. OK, that's fine, but omitted a significant chapter in this saga: edgar-online.com Chapter 11 Rachmil Lekach, Chief Executive Officer, said, "The decision to file (Chapter 11) was a very difficult one. The members of the new management team that have joined the Company since August 1996, at which time a change in control of the Company occurred, have not been able to reverse the losses and declining sales trends experienced by the Company prior to such time . Although the new management team has taken many of the steps set forth in a recovery plan previously announced, the Company has continued to experience difficulty meeting its debts as theycontinuing sales decline, reduced borrowing capacity and deterioration of vendor support , which has made the process of implementing the recovery plan increasingly difficult. It was determined that in the overall interests of Luria's customers, vendors, employees and shareholders, this action was required. As the case goes forward, Luria's will continue to evaluate and take actions that serve the best interests of all parties."relieve the under unfavorable store leases, (ii) realize Just some background to ponder in this puzzle of inter-related companies, wonder if history will repeat ?
