Wickes Furniture files for protection

WHEELING, Ill., Feb. 5 (UPI) -- Wickes Furniture Co., of Wheeling, Ill., a chain with 37 stores in Illinois, Indiana, Oregon and California, has filed for Chapter 11 bankruptcy protection.

The company Monday declared its liabilities were between $50 million and $100 million, while its assets ranged between $10 million and $50 million, the Chicago Tribune reported.

Wickes had been asking suppliers to hold off on payments. Its parent company, Sun Capital Partners Inc., specializes in leveraged buy-outs, the report said.

Wickes has about 1,700 employees.