Address Problems Slow Kleid Disbursements

Share this content:
The Kleid Co. has collected $6.2 million (70 percent of receivables) and disbursed $4.6 million to creditors in its bankruptcy proceedings, but deliveries have been slowed by address problems. CFO John Hughes urges those who still owe receivables of $2.7 million to mail to Kleid's correct address: 362 Fifth Ave., Suite 1202, New York, NY 10001-2210. Kleid can be reached at 212/244-3341. Hughes would like to assure former employees with 401k money tied up that Kleid hopes to complete negotiations with plan executor Smith Barney within a month. Plan holders will be subject to a 5 percent charge only if their 401k balances are moved from Smith Barney. Hughes could not speculate on when the IRS will approve termination of Kleid's 401k plan.

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above