Harry & David in Bankruptcy

When economic times were great, people bought fruit baskets from Harry & David. Sales at Harry & David began to slump in 2008 according to Bloomberg Businessweek on April 4-April 10, 2011 issue in "Harry & David Kicks the Basket". People cut back on gifts during the recession, and the company filed bankruptcy on March 28, 2011. Harry & David failed to make interest payments on around $200 million in debt. Each fall, Harry & David hired 6000 workers for the holiday season to pick and pack fruit in baskets around the world. Gone are those days for many who depended on the money as a second income. The company had a farm in Oregon. Now the region has an unemployment rate of 11.1%, higher than the US's 9%, in January 2011. Now the fate of Harry & David are in the fate of Alvarez & Marsal, a restructuring company in New York. The Harry & David news story goes to show that one day people can be drinking wine with fruit baskets and the next day, fall off the top of the discretionary spending list. Everyone can end up a debtor in bankruptcy or have a collections judgment against him/her. There is no shame in bankruptcy because vulnerability in a recession happens to all. For instance, on any given day, in the 415 for a debtor's questionnaire. Let's say, the defendant, since receiving a rhetoric degree 19 years ago, the defendant has been continuously employed at advertising, public relations, and high technology companies. Perfectly polished speech, and quoted in Style pages about her opinions on entertainment. Just like Harry & David's products, all prim in a basket, people are not as imagined. Think someone is thin, Brooke Shields type, but in reality, she could be "a blimp, old, and huge" (in her words on FaceBook). The fate of Harry & David indicates that even when someone grows up in the 408 with dreams of medicine, doing well in science during high school, the person may not end up as a doctor. Though rhetoric was an elective, a person could flunk out of the hard sciences and switch majors, after a parents' divorce, and a younger brother's DUI. On the outside, someone could look like they have it all, living in a one-bedroom Fillmore Street apartment in San Francisco, spending $500 to $2,500 for tickets and black dresses to opera galas. Even with all that material, the same person could have judgments against her by several credit card companies. The balances are a few thousand dollars. Bankruptcy and debt could happen to anyone so do not lose a sense of life dwelling on situations. The time to buy more Moose Munch may be just around the corner. Rinne Legal, with staff able to translate in Spanish, Korean, Russian, German, helps individuals and small businesses with bankruptcies and living trusts in Contra Costa, Sacramento, San Francisco, and Solano Counties. Rinne Legal has offices in Walnut Creek, Fairfield, and Sacramento. Contact Rinne Legal for a free consultation. These blog posts are for informational purposes and not intended nor should be construed as legal advice. These blog posts may be considered attorney advertising in some states. Prior results described on blog posts do not guarantee similar outcomes in future cases. There is no intent to create an attorney-client privilege or relationship with anyone accessing information on this blog. Authors posting on this blog are not obligated to reply to any emails seeking legal advice. The information contained on this blog is not intended to be a solicitation.

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