Flower-Delivery Company FTD Files for Bankruptcy Protection - The Wa...

Flower-Delivery Company FTD Files for Bankruptcy Protection  The Wall Street Journal

Flower-delivery provider FTD Cos. filed for chapter 11 bankruptcy protection and agreed to sell certain assets as it works to pay down debt and implement its strategic initiatives. The company, which was founded in 1910, has struggled with competition. Last summer, its board initiated a review of strategic alternatives, as well as a corporate restructuring and cost-savings plan. FTD warned in March that it could go out of business by this summer if it didn’t raise enough money to meet its debt obligations of $217.7 million. “With the advice and support of our outside advisors, we have initi...