Chapter 11 Filing Wilts Blue Tulip

Jan 08, 2009 4:31 AM  By

Gifts, stationery and entertaining products merchant Blue Tulip Corp. on Monday filed for Chapter 11 bankruptcy in Delaware. The company plans to liquidate, according to court documents.

The merchant did not list its assets or creditors in its filing. The court has scheduled a meeting with Blue Tulip’s creditors on Jan. 30.

Highland Capital Partners is listed as a 44% stakeholder in Blue Tulip. Calls to the venture capital firm, which has removed all information about Blue Tulip from its Website, were not returned by press time.

Founded in 2002, Bordentown, NJ-based Blue Tulip has 24 stores located in the Northeast as well as an e-commerce site, which has already been shut down.