Content area
Full text
Mr. Bulky Treats & Gifts, a Trop limited partnership that operates 200 retail bulk-candy stores, is seeking protection from creditors under Chapter 11 of federal bankruptcy law.
President and CEO Sidney Rubin won the Michigan Entrepreneur of the Year award for retailers in 1993 for his work at Mr. Bulky, which he bought in 1987 and turned into one of the nation's fastest-growing businesses. Mr. Bulky showed up as one of Inc. magazine's fastest-growing U.S. companies in 1989 and 1990. The company owns about 120 of its stores and franchises the remaining 80.
In the bankruptcy petition filed Oct. 14, Mr. Bulky listed liabilities of $23.3 million and assets of $19.7 million. The filing estimates that there are more than 1,000 creditors.
By far the largest liability, according to...