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David Schlessinger (businessman)
Zany Brainy was an American retail store chain subsidiary of FAO Schwarz. Its merchandise consisted of educational toys and multi-media products aimed at children ages 4–13, such as games and puzzles, infant development toys, books, audiocassettes, CDs, videos, arts and crafts, building toys and trains, computer software, electronic learning aids and musical instruments, science toys, plush toys and dolls, and sports-themed toys. The stores offered daily events such as workshops, concerts, and author appearances. David Schlessinger, who had earlier started the now-defunct Encore Books chain of bookstores, founded Zany Brainy in 1991. The company filed for Chapter 11 bankruptcy protection on May 15, 2001, having faced financial difficulties since acquiring rival company Noodle Kidoodle in 2000. At the time its assets were sold to Right Start later that year, Zany Brainy had 187 retail locations nationwide. It announced the shuttering of its remaining stores in December 2003. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company, or daughter company is a company (law), company completely or partially owned or controlled by another company, called the parent company or holding company, which has legal and financial control over the subsidiary company. Unlike regional branches or divisions, subsidiaries are considered to be distinct entities from their parent companies; they are required to follow the laws of where they are incorporated, and they maintain their own executive leadership. Two or more subsidiaries primarily controlled by same entity/group are considered to be sister companies of each other. Subsidiaries are a common feature of modern business, and most multinational corporations organize their operations via the creation and purchase of subsidiary companies. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, and Citigroup, which have subsidiaries involved in many different Industry (e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, meaning the term ''bankruptcy'' is not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian language, Italian , literally meaning . The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment. However, the existence of such a ritual is doubted. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into "debt slavery" until the creditor recouped losses through their Manual labour, physical labour. Many city-states in ancient Greece lim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |