Crib n' Cradle held deposits from 758 when it closed

July 19, 1994|By a Sun Staff Writer

Children's furniture chain Crib n' Cradle held deposits from 758 people when it shut down last month, a merchandise liquidator said yesterday, far more than the 150-plus estimate that was reported earlier.

Crib n' Cradle, based in Severna Park, agreed to turn over its assets to creditors after it became unable to pay bills. Liquidator Steven Haas, hired by the creditors to sort through Crib n' Cradle's books and goods, said yesterday that deposits for undelivered goods add up to more than $100,000.

Customers won't be getting their money back. And many won't receive full credit for deposits.

A group of manufacturers who are also creditors in the case have agreed to supply furniture at their cost, plus the expense of shipping it, to people who had put down deposits, Mr. Haas said.

Eliminating the retail markup will reduce the price by more than 30 percent. But some customers had put down 50 percent or paid in full.

Customers "may have to pay more than what they think their balance is," Mr. Haas said.

The alternative for consumers is to seek legal recourse from Crib n' Cradle, but the chain has no money, Mr. Haas said.

Customers should leave a message at 646-7101 and wait for liquidators to arrange an appointment, Mr. Haas said.

"It's not going to be all over and done with in a month," said Rebecca Bowman, the assistant attorney general who is monitoring the case for the Attorney General's Consumer Protection Division. "The process is going to take awhile."

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