‘Crazy For You’ bear off the market

To the relief of advocates for the mentally ill, the Vermont Teddy Bear Co. said Thursday that its straitjacketed “Crazy For You” bears are sold out and that it will not make any more.

For weeks, advocates and Republican Gov. James Douglas have criticized the toy as insensitive. The $69.95 bear, marketed as a Valentine’s Day gift, came with a straitjacket and commitment papers.

Last week, company President and CEO Elisabeth Robert had apologized to anyone offended by the bear but said it would not be taken off the market: “We’re not in a position to be told what we can and cannot sell.”

But this week she met with advocacy groups for the mentally ill and decided enough was enough.

The bears were offered on eBay on Thursday for as much as $175.

Bankruptcy

Judge keeps Trump hotels, casinos rolling

A judge dealt another favorable hand to Trump Hotels & Casino Resorts on Thursday, giving final approval to a $100 million “debtor in possession” loan and setting a date for a confirmation hearing that would formally end the company’s Chapter 11 case.

Fending off objections from shareholders, U.S. Bankruptcy Judge Judith Wizmur approved the loan by Dallas-based Beal Bank, without which Donald Trump’s three Atlantic City casinos would have had to shut down for lack of cash, according to Trump lawyers.

The loaned money is paying salaries, vendors and other operating expenses as Trump Hotels moves toward the confirmation hearing scheduled to begin March 29.

Retail

Same-store sales slide at Payless shoes

Topeka-based shoe retailer Payless ShoeSource Inc. on Thursday said January same-store sales fell 3 percent at locations open at least one year.

For the four weeks ended Jan. 29, total sales rose 3.3 percent to $138.6 million. Fourth-quarter same-store sales fell by 2.7 percent, while total sales fell to $629.1 million from $644.4 million.

Fiscal 2004 same-store sales dropped by 0.9 percent, while total sales slipped to $2.77 billion from $2.78 billion.

In August, the company said it would sell its operations in Parade, Peru and Chile, close an additional 260 stores and implement other changes.

Payless said it expected charges from the initiatives to be at the low end of its $70 million to $80 million guidance. Most of the charges will be recorded in fiscal 2004, which the company plans to report March 1.