MGRE SEEKS CRISIS MANAGER FOR CH. 11
WASHINGTON — Merry-Go-Round Enterprises is seeking a crisis manager to help the company emerge from Chapter 11 bankruptcy.
The manager will be brought as a private consultant, or possibly as chief executive officer to succeed Leonard (Boogie) Weinglass, a spokesman said Friday. As reported, Weinglass plans to resign this month.
The spokesman said the new manager will allow current management to focus on running the business and rebuild the firm, and “not have to deal with the constant minute-by-minute of the bankruptcy process.” The troubled chain is not planning any “significant” layoffs, but more stores could close after Christmas, depending on their profitability, the spokesman said.