Sirena Seeks Chapter 11 Protection
The beleaguered Sirena Apparel Group Inc.--a bathing suit maker whose labels include Anne Klein, Liz Claiborne and Hang Ten--said late Friday that it had filed for Chapter 11 bankruptcy protection.
The move comes just weeks after Los Angeles-based Sirena abruptly fired its chief executive and chief financial officer for “accounting irregularities.” The firm then said it would restate earnings from the first three quarters of the fiscal year that ends Wednesday. Nasdaq halted trading of the company’s stock the day of the dismissals; it has not resumed.
Sirena also said Friday that consultant Richard Matthews was named interim CEO and Howard Hedinger, president and chairman of American Industries Inc., will serve as chairman of the board.
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