Local concert promoter Frank Giglio has filed for bankruptcy petition citing more than $300,000 in debts with $2,000 declared as assets. One of the creditors listed in the bankruptcy petition is the agency representing popular 80’s band Air Supply who are among a list of 28 creditors named in the petition. According to an article in the St. Pete Times, “Air Supply’s talent agency, the Los Angeles-based Agency for the Performing Arts, filed a lawsuit in Hillsborough Circuit Court earlier this month to recover $25,000 from Giglio.”

Perhaps one of the country’s best known upscale furniture stores has filed for Chapter 11 bankruptcy protection in federal court. The Fort Myers-based company has been in business for 96 years but faltered when the housing market took a tumble in 2006.

In spite of the bankruptcy filing, company executives hope to make a rebound as the economy strengthens. In its bankruptcy filing, the company told the court that it was $57 million in debt and needed bankruptcy relief. Seeking comment on the bankruptcy, the News Press published these thoughts by a Florida business consultant:

“Orlando-based retailing consultant C. Britt Beemer said Robb & Stucky is a highly regarded, innovative company, but that when the housing crash hit in 2006, it hurt upscale furniture sales much more than furnishings at the lower end of the market.

“You look at a Robb & Stucky and some other high-end guys around the country, 50 to 60 percent of their business is directly or indirectly tied to new home sales,” he said. “When you lose that pace, it’s a slow death.”