Joseph-Beth files for Chapter 11

CINCINNATI, OH (FOX19) - A Cincinnati-based business filed for Chapter 11 Bankruptcy protection Thursday.

The Joseph-Beth Group filed the petition for Chapter 11 protection to restructure its debt and improve financial stability.

Last week, Joseph-Beth closed two stores in Charlotte, NC and Pittsburgh, PA. The company will also close stores in Cleveland, OH and in Nashville, TN in the future.

"Our goal is to preserve and strengthen our business through this restructuring so that we can compete successfully in the future," said Neil Van Uum, the owner of the Jospeh-Beth Group, in a statement.

Liquidation sales for the stores in Cleveland and Nashville will begin in mid-November, and continue until the stores close in December.

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