Crabtree & Evelyn file Chapter 11 bankruptcy protection

New York City Crabtree & Evelyn Ltd. filed for Chapter 11 bankruptcy protection Wednesday, according to Craine’s New York. The company cited liabilities between $10 million and $50 million, along with assets of the same amount.

In its reorganization, Crabtree said it will evaluate its brand strategies and its real estate portfolio.

“The Crabtree & Evelyn brand remains strong,” said Stephen Bestwick, acting president, in a statement. “We are confident that Chapter 11 gives us the opportunity to restructure the company with a business model that will be sustainable for long-term growth.”

Crabtree operates 500 freestanding retail stores and sells to approximately 6,000 wholesale accounts.