Blue Tulip Inc., a New York-based retailer of personalized gifts, has filed for Chapter 11 bankruptcy protection. It lists $7.3 million in debt, and plans to hold store liquidation sales at its 24 locations later this month. Blue Tulip had raised over $13 million in VC funding, and lists Highland Capital Partners as holding a 44% ownership stake (it invested out of HCP VI and Highland Consumer Fund). Board members include Tom Stemberg and Walter Salmon.
The company’s website is no longer working.