Lillian Vernon Files for Bankruptcy

New York City Lillian Vernon Corp. on Wednesday filed for protection under Chapter 11 of the bankruptcy code, a week after it laid off half of its year-round work force.

The company said last week it was considering options such as a sale or filing for bankruptcy because of financial difficulties.

In a filing with the U.S. Bankruptcy Court for the District of Delaware, Lillian Vernon, which sells low-cost gifts and gadgets through its catalog and Web site, said it was in its best interest to seek relief under Chapter 11.