Bianchi - Out of business.

Bianchi - Out of business.

I was told that as of today Bianchi is out of business and will not be delivering dresses. If you ordered a Bianchi dress you should contact your dress shop.

Bianchi - Out of business.

You may want to check the Bridalgown.com site too - for other options. I got an e-mail from them detailing information from the creditors and some alternate resolutions if your bridal shop cannot help you.

Bianchi - Out of business. FYI

BREAKING NEWS:

*******Creditors seize Bianchi assets

Ailing bridal gown maker House of Bianchi has apparently closed,
according to information received by BridalGown.com. The company is no longer
answering their phones and has instructed key personnel to stay home.

Systran Financial, a major Bianchi creditor, sent BridalGown.com an
email Monday October 1 to indicate that they are in the process of seizing
Bianchi's gown inventory and other assets. Two Systran employees
arrived in Massachusetts late Monday and are on their way to Bianchi's
warehouse. Systran denied that Bianchi has formally closed, but referred to
the company as going through 'an internal restructuring.' Systran
loaned money to Bianchi that was collateralized on their receivables; that
loan went into default in recent weeks.

In the email, Systran employee Annette Gibert told BridalGown.com that
'it is my understanding that any outstanding (gown) orders will not be
shipped at this time. Bianchi customers should not count on receiving
dresses on time. Nor should any more orders to House of Bianchi be
made.' The text of the entire email is below.

What if you have a bridal gown or bridesmaids dress on order from House
of Bianchi? We would immediately contact the retailer you ordered from
and discuss your options. If you decide to buy a different gown, we
believe you should receive a full refund of any deposit placed. If a
retailer can sell you a Bianchi sample dress at a reasonable price (given
its condition), that would also be an acceptable solution.

If you are unable to reach a resolution with a Bianchi retailer,
contact us at 303-442-8792 or via email at [email protected]. We are
hopeful that Systran will be able to reunite customers with their gown
orders----provided those orders are in Bianchi's warehouse. We will be
working with consumers and Systran to help brides get their gowns.
Priority will be given to those brides with the closest wedding dates, of
course.

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Email received from Systran:

In response to your article:
They are currently going through an 'internal restructuring' --they
have not
legally closed their doors or filed bankruptcy.

My company, Systran Financial Services Corp (SFSC) has secured a loan
with
the House of Bianchi.
We are calling many Bianchi customers in order to collect on the
receivables
that were used as collateral on their loan.

Dresses shipped but not ordered may be purchased by Bianchi customers
at a
very reasonable rate.
We understand these may be duplicates or samples.
If any dress is to be returned to the Lawrence MA warehouse (181 Canal
St.),
there will not be call tags or RA #s issued. Our employees will be
available
in MA as soon as Monday, Oct 1st, to receive these returns.
Dresses should not be shipped to AZ Fashions, as any and all Bianchi
customers will be held responsible.

It is my understanding any outstanding orders will not be shipped at
this
time. Bianchi customers should not count on receiving dresses on time.
Nor
should any more orders to House of Bianchi be made.

Customer questions can be directed to my company, as we understand
their
plight.
Please call us at 503-675-5700, regarding House of Bianchi.
Thank You -
Annette Gibert
Systran Financial
Cust. Service Acct. Manager
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