Abe’s Of Maine Files Chapter 11

Abe’s Of Maine Files Chapter 11

By Alan Wolf On Nov 8 2012 - 11:23am

resident and founder Abraham Mosseri said he plans to sell or liquidate the busi
resident and founder Abraham Mosseri said he plans to sell or liquidate the business if an investor cannot be found. He currently employs 41 staffers.


Edison, N.J. – Abe’s of Maine, the 33-year-old direct CE seller, has filed for Chapter 11 bankruptcy protection.

According to a bankruptcy court filing on Nov. 5, the company sought Chapter 11 protection to reduce debt, improve liquidity, and find a backer to bolster its “long-term growth prospects and operating potential.”

Total fiscal year sales through June 30 were about $87 million, down from $110 million in 2011 and $115 million in 2010.

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