User:Eastmain/Cherry & Webb

Acquired by the [Outlet Company]] in 1966

Cherry & Webb, also known as CWT Specialty Stores, Inc., was a department store chain in the U.S. statea of Massachusetts and Rhode Island. At one time, it also owned radio stations.

In 1993 it moved into four former Sage-Allen stores in Connecticut.

Wisetex Trading Ltd. ("Plaintiff") brings this action for conversion, unjust enrichment, and for imposition of a constructive trust against Irwin Gindi ("Gindi") and William B. Wachtel ("Wachtel") (collectively "Defendants"). Defendants' motion to dismiss for failure to state a claim is granted.

For the purposes of this motion to dismiss, the allegations in the complaint are accepted as true. In March 1999, Defendants, through their holding company Cherry Holdings, Inc., purchased CWT Specialty Stores, Inc. ("CWT"). Gindi became CEO of CWT, and Wachtel became Executive Vice President. When Defendants purchased CWT it was indebted to Foothill Capital Corp. ("Foothill"). Defendants personally guaranteed the debt to Foothill.

Gallery
After the stores closed, a gallery opened in the old store.