A Davie, Fla.-based retailer of Invicta watches with stores in nine states has filed for bankruptcy protection, the South Florida Business Journal reported. Retailing Enterprises LLC, also doing business as Invicta Stores and Techno Marine Store, submitted a Chapter 11 petition to U.S. Bankruptcy Court's Southern District of Florida on May 30. According to court documents, Retailing Enterprises, owned by Mauricio Krantzberg, owes 20 creditors more than $47.52 million. Detailed assets were not included in the documents, although Krantzberg stated in a petition that his company made $27.88 million in sales so far this year. The court gave Retailing Enterprises LLC, represented by Boca Raton attorney Aaron Wernick, until June 13 to file more detailed financial information. Retailing Enterprises' largest creditors include Hollywood-based Invicta Watch Co. of America ($29.53 million), a Main Street loan from Miami-based City National Bank of Florida ($9.8 million), Indianapolis-based Simon Property Group ($3.85 million), New York-based Vornado Realty Trust ($1.6 million) and New Jersey merchandising company ZWI Group LLC ($1.05 million).
