Heir to Brandeis Fortune files for Bankruptcy


In an amazing development, Ted Baer, who is the heir to the Brandeis Departmental stores has filed for Chapter 7 bankruptcy. Ted and his wife, Kathy Baer filed papers at the bankruptcy court on April 29. A few days after the filing, Baer’s mother passed away.

Ted Baer is the great grandson of J.L. Brandeis who founded the Brandeis Departmental stores. Baer’s father died in 2002. At one point of time, Baer was the owner of US Hockey league team, the Omaha Lancers until he sold off the team in 2004. The bankruptcy filed by Baer cited debts between $10 million and $50 million, one of the biggest Chapter 7 bankruptcies in the country.

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