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Amid rumors that more store closings are on tap, the 175-store Torrance-based chain is going through what insiders are characterizing as "normal bankruptcy machinations" as they ready their reorganization plan for a June 9 court date.

WHERE OH WHEREHOUSE?

Reorganization Continues for Retailer As It Wends Its Way Through Chapter 11
There’s more changes afoot at Wherehouse Music.

Currently working through a Chapter 11 restructuring process, the retailer today let go some 29 employees from its home office and distribution center.

Amid rumors that more store closings are on tap, the 175-store Torrance-based chain is going through what insiders are characterizing as "normal bankruptcy machinations" as they ready their reorganization plan for a June 9 court date.

The company and senior lender Congress Financial had just recently received court approval for over $40 million in DIP (debtor in possession) financing. The current round of layoffs included 18 people from the home office, mostly from the purchasing staff, most notably 15-year vet Matt Bailey, who had most recently been serving as genre buyer.

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