Gadzooks landlords object to disclosure statement

By Caroline Salls

Pittsburgh, Oct. 4 - Gadzooks, Inc. landlords The Taubman Co., LLC and The Mills Corp. objected to the company's disclosure statement for its plan of liquidation, according to a Monday filing with the U.S. Bankruptcy Court for the Northern District of Texas.

According to the objection, the disclosure statement is insufficient because it fails to contain a recovery estimate for general unsecured creditors, a liquidation analysis, or an estimate of administrative expenses and it has inadequate disclosures regarding the liquidating trust and improper procedures for claims estimation.

A hearing for approval of the disclosure statement is scheduled for Oct. 12.

The Dallas-area apparel retailer filed for bankruptcy on Feb. 3, 2004. Its Chapter 11 case number is 04-31486.

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