Swoozie’s, which sells stationery, greeting cards, gift wrap and the like, has stores in 15 states and 350 employees. The Atlanta Business Chronicle reports the company had less than $10 million in assets and $50 million in debt when it filed for protection on March 2.
According to Reuters, Swoozie’s will be put up for sale at an auction March 25. If a buyer cannot be found the company will be liquidated. Liquidator Hudson Capital Partners has reportedly put in a bid of $5.3 million to buy all of the company’s assets and will be the lead bid in the auction.Going Out of Business: Swoozie's Inc. Closing All 43 Stores by daniel