The Houston Chronicle reports on yesterday’s Garden Ridge Corporation chapter 11 filing.
The first major motion in the Garden Ridge case–i.e., it’s Motion for Approval of Post-Petition Financing (in other words, a “Judge, let us borrow money so that we can stay alive” motion)–provides Garden Ridge management’s analysis of what caused the company’s financial problems. Earlier today, the Court approved Garden Ridge’s motion on an interim basis in this order.