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Another home furnishings brand bites the dust. "Liquidation sales are imminent" for Rachel Ashwell’s worn-in-yet-pricey Shabby Chic line, which filed for bankruptcy in January. That means closing sales at Ashwell's Wooster Street boutique. "In a filing dated March 3, lawyers said Ashwell herself was the only party interested in keeping Shabby Chic alive as a going concern but had not entered a bid. According to court documents, the company owed its three groups of secured creditors between $27.7 million and $28.8 million." [WWD, subscription req]