Tristar
This article was originally published in The Rose Sheet
Executive Summary
Beauty manufacturer announces plans to file for bankruptcy under Chapter 11 due to deteriorating financial condition that began one year ago, San Antonio, Texas firm says. Tristar, which plans to fill backlog of customer orders for 2001 holiday season, will reorganize and seek alternate sources of funding, according to CEO B.J. Harid. Firm delisted from NASDAQ Stock Market due to inability to file 10-Q with Securities and Exchange Commission for fiscal third quarter (ended May 26). Move follows reported sales of $8.9 mil. and net loss of $1.7 mil. in second quarter (1"The Rose Sheet" April 30, In Brief)