Several Swoozie's Stores to Re-open
Posted on June 11, 2010Gart Capital Partners (GCP) has purchased the remaining assets of Swoozie's, Inc., an Atlanta-based stationery and gift retailer. The upscale chain filed for Chapter 11 bankruptcy protection in April 2010. The newly formed company of Gart Capital Partners and Plank Dworkin plans to begin re-opening up to eight stores in Georgia, Alabama, South Carolina, North Carolina, Texas, Florida, and potentially Denver by late summer. The new team also plans to have their online retail operations re-activated in the next few weeks. The store's website, swoozies.com, says the "real Swoozie's is coming back." The site also contains a letter from co-founder Kelly Plank Dworkin.
The first Swoozie's store was opened in Atlanta in 2001 by Plank-Dworkin and her late husband, David Dworkin, a former CEO of Neiman-Marcus. GCP says a series of events, including the death in 2007 of co-founder and owner Dworkin, who had managed operations for the specialty stores and the plunging economy, led to the bankruptcy filing.