| RoomStore files for Ch. 11 bankruptcy protection and Frugal gift-wrapping secrets from holiday pros |
| News - Financial News |
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RICHMOND, Va. (AP) -- Discount furniture retailer the RoomStore is hoping to reorganize under bankruptcy protection. The Richmond-based company filed for Chapter 11 bankruptcy protection Monday in U.S. Bankruptcy Court in Richmond. RoomStore listed about $56 million in assets and more than $52 million in debts in its court filing. The company says it hopes the move will help it reorganize around a core base of stores. It plans to close a significant number of stores and reduce its staff and expenses during the process. The retailer reported a net loss of $7.7 million for the first six months of the fiscal year compared with a loss of $2.4 million in the same period in 2010. RoomStore operates 66 stores in eight states, including Virginia. It also owns part of Mattress Discounters Group. [Read the full article] Which have you done more of lately -- checked in with your friends on social networks, gone shopping online or donated to charity? Some shopping applications or websites launched in the last year or so let you do all three at once, in most cases without spending anything extra.These social shopping apps have one thing in common: They can donate on your behalf to a charitable organization. For instance, the year-old Shopkick app enables your smartphone to connect with a signal emitted from a specialized device in stores such as Best Buy, Crate and Barrel and Toys R Us. When the app detects you've entered the store, you receive rewards known as "kicks" just for visiting. But instead of using the kicks to get a gift card or discount, charity-minded customers can donate them to one of 30 different causes. [Read the full article] Vacationing with your kids? Cut your costs by renting a time-share instead of hotel rooms. You'll save money on lodging -- and spend less on meals by cooking in.Time-share owners hawk their slots on Craigslist, but you get a wider selection -- and fewer worries -- via sites working with property managers.The find: $1,862 for a week in a one-bedroom unit, with a sleeper sofa, at Lake Tahoe Vacation Resort in South Lake Tahoe, Nev., vs. $2,814 for two rooms at a nearby inn.Orlando and Las Vegas may be the time-share capitals of the U.S., but these resort hotspots don't have a monopoly on the idea. You can find time-shares in places such as Newport, R.I., and Traverse City, Mich.The find: $2,377 weekly for a one-bedroom unit at Wyndham La Belle Maison in New Orleans, vs. $3,953 for two rooms down the street. [Read the full article] 
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