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Harry & David files for bankruptcy
Medford, Ore. -- Harry & David Holdings filed for Chapter 11 bankruptcy protection on Monday, according to a filing.
The gift basket retailer will continue to operate the business as debtors under the jurisdiction of the bankruptcy court. The company has nearly $200 million in outstanding debt.
Harry & David sells its products through catalogs, its website and in stores, which are primarily in factory outlet malls across the nation. -
Report: U.S. consumer spending up in February, economy on ‘firmer footing’
Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending in the United States rose more than forecast in February as incomes climbed.
Bloomberg News estimated spending would advance 0.5%.
Purchases increased 0.7%, the most since October, after advancing 0.3% the prior month. Incomes increased 0.3%, less than the 0.4% projected.