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A representative of Signature Bank, which recently transferred the Gracious Home loan to a new lender, wasnt available to comment. In prior court filings, however Signature Bank has called Gracious Homes description of the dispute revisionist history and denies that it is responsible for the retailers longstanding business problems and defaults. Under a deal reached in November to give the retailer breathing room on the loan, Gracious Home said it had to hire a new officer to help it restructure. At an employee meeting that month, company leaders were optimistic about plans to find a new lender and take the business forward, according to people familiar with the meeting. Leaders emphasized the company wouldnt be going out of business, these people said. Within several weeks, however, Gracious Home filed for chapter 11 protection with the goal of right sizing itself, court papers say. Since the Dec. 14 filing, Gracious Home has used the bankruptcy process to permanently close three of its four storesone on the Upper West Side, one in Chelsea and one on the Upper East Side. Mr. Morrison said in court that the company laid off all but about two dozen of its employees, who court papers say numbered 111 at the time of the bankruptcy filing. The business has been effectively closed, Gracious Home adviser Adam Rosen said Tuesday in bankruptcy court. Efforts to attract a buyer or investor depend upon restarting operations, according to Mr.
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The reportfound that 45 percent of the worlds countries could be considered Free. In comparison, 30 percent were rated as Partly Free, and 25 percent Not Free. Perhaps moreworryingly, 67 countries suffered declines in political rights and civil libertieslast year. In years past, those declines were largely confinedto countries with autocratic leaders or dictators. However, the report claims in 2016, it was established democracies countries rated Free in the reports ranking system that dominated the list of countries suffering setbacks. View photos Courtesy of Freedom House More One of the notable nations singled out for scorn in the report was Russia . The Eurasian nationsaw its Freedom Score decline following its 2016 legislative elections which gave President Vladimir Putins United Russia party a supermajority in the countrys lower house. Additionally, the report decries that Russia, in stunning displays of hubris and hostility, interfered in the political processes of the United States and other democracies, escalated its military support for the Assad dictatorship in Syria, and solidified its illegal occupation of Ukrainian territory. View photos Largest 10-Year Score Declines (Courtesy of Freedom House) More While the United States was rated as Free, the reportalso named it a country to watch after a series of destabilizing events. In particular, the group claims the election of Donald Trump,a mercurial figure with unconventional views on foreign policy and other matters, raised questions about the countrys future role in the world. View photos The election of Donald Trump has raised questions about the United States future role in the world. (Photo by Drew Angerer/Getty Images) More Syria claimed the dubious title of least free nation in the world, with an aggregate Freedom Score of -1. Most residents live under the dictatorial rule of President Bashar al-Assador the Islamic State (IS).