By  on March 14, 2008

Goodbye goodwill.

Liz Claiborne Inc. took whopping goodwill write-downs of $451 million in the quarter ending Dec. 29, which drove the group to a fourth-quarter loss of $435.7 million, or $4.55 a share, compared with net profits of $73.2 million in the fourth quarter of 2006.

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