If you’re the kind of person who’s always dreamed of putting on your very own performance under the Big Top, your fantasy could become real: after filing for bankruptcy last year, Big Apple Circus is putting its assets on the auction block. [More]
bankruptcy
Report: Amazon, Forever 21 Interested In Buying Bankrupt American Apparel
By 1.5.17
Stores are set to shut down, thousands of employees may be laid off, but we still haven’t reached the end of the American Apparel Bankruptcy: Part II saga. In yet another plot twist, Amazon and Forever 21 are appearing as rumored new suitors ahead of the upcoming bankruptcy auction. [More]
Former ITT Tech Students Sue To Be Included In Bankruptcy Proceedings
By 1.3.17
When a retailer goes bankrupt, little thought is given to the store’s customers, but what happens when a for-profit educator goes bust? Do its customers — the former students — have any right to be involved in the bankruptcy proceedings? [More]
It’s Probably Time To Use Up Your Gift Cards For The Limited
By 12.21.16
If you’ve got a gift card for The Limited gathering dust, you may want to use it before a potential bankruptcy could make that card worth less than the plastic it’s printed on. [More]
American Apparel To Liquidate Nine Stores Ahead Of January Auction
By 12.20.16
Two weeks after American Apparel confirmed it could lay off 3,500 workers as part of its second bankruptcy go-around in two years, the company received approval to liquidate nine stores by the end of the month. [More]
American Apparel Confirms It Might Lay Off 3,500 Workers Next Month
By 12.6.16
After earlier reports that hundreds of American Apparel workers were told they would be out of a job next month, the struggling retailer confirmed on Monday that it had sent notices to almost 3,500 employees warning them of potential layoffs. [More]
American Apparel Hands Out Layoff Notices, Extends Bidding Period
By 12.2.16
Twice-bankrupt clothing company American Apparel is in a hurry to get itself sold. While the company had a deal in place to sell to Gildan Activewear even before filing, now it has asked the court to change the auction timetable, but without extending the bidding process as long as its creditors would prefer. [More]
Reminder: Friday Is The Last Day To Redeem Your RadioShack Gift Cards
By 11.29.16
The bankruptcy of RadioShack at the beginning of 2015 probably seems like a distant event to you now, but the business entity that used to be the massive electronics chain is still wrapping up its affairs. One of those last pieces of business is the end of gift card redemptions. The Shack’s estate will stop accepting requests on Friday, Dec. 2, 2016. [More]
American Apparel Files For Bankruptcy (Yes, Again)
By 11.14.16
The writing has been on the wall for a while, and it seems the inevitable has finally come to pass: troubled apparel retailer American Apparel this morning filed for bankruptcy in a Delaware court. Yes, again. [More]
Report: Takata Could File Bankruptcy Of U.S. Assets, But It Won’t Happen Soon
By 11.4.16
Weeks after Japanese parts maker Takata reportedly began mulling the idea of restructuring through a sale that could include a bankruptcy filing amid the prospect of being saddled with billions of dollars in costs the company faces linked to its massive shrapnel-shooting airbag debacle, we’re learning more about what exactly the bankruptcy prospect means. [More]
DirectBuy Wants Everyone To Know Its Business Model Is Less Terrible Now
By 11.4.16
Yesterday, we shared the news that DirectBuy, a company often featured on this very site for its anti-consumer practices, had filed for bankruptcy protection. However, the company wants to make sure that you know something: it has been making changes to become less terrible, including monthly fees instead of multi-year contracts. [More]
DirectBuy Files For Bankruptcy, Lenders Will Take Over Company
By 11.3.16
You may remember DirectBuy, a store selling furniture and other items to spiff up your home that promises deep discounts to people who sign up for a pricey membership. This business model is apparently not working out for them, since the company filed for Chapter 11 bankruptcy protection this week. [More]
Report: Dick’s Won Auction For Golfsmith’s Intellectual Property, U.S. Stores
By 10.21.16
According to “a person familiar with the matter,” Dick’s Sporting Goods picked up the U.S. business and intellectual property of bankrupt specialty retailer Golfsmith for $70 million, as expected. Serving as its caddies for this round were well-known names in the retail liquidation business, Hilco Global and Tiger Capital Group. [More]
Dick’s Plans To Bid On Bankrupt Competitor Golfsmith
By 10.18.16
This has been a bad year to be in the brick-and-mortar sporting goods business, unless you’re the dominant chain in that market, Dick’s. Golfsmith filed for bankruptcy protection earlier this year, and a major competitor was Golf Galaxy, a similar specialty chain owned by… Dick’s. Now the bankrupt chain’s former competitor is reportedly preparing to buy its United States business, at least, out of bankruptcy. [More]
Lawmakers: Takata Bankruptcy Could Leave Consumers On The Hook For Repairs
By 10.4.16
Facing billions of dollars in losses related to fines, penalties, repair costs, and other expenses connected to the massive recall of shrapnel-shooting airbags, Takata is reportedly looking at restructuring through bankruptcy as an option. But if the auto parts maker goes this route, would we all be stuck footing the bill to replace the defective safety devices? [More]
Fast-Casual Chain Cosi Declares Bankruptcy, Shutters 29 Locations
By 9.29.16
If you happen to enjoy your lunch on a salty flatbread of an afternoon, or your breakfast on a square bagel of a morning, well, we’ve got some bad news for your morning: Cosi has declared Chapter 11 bankruptcy and shut more than a third of its company-owned stores. [More]
Here’s Why Mall Owners Stepped In To Save Aeropostale
By 9.27.16
The winners of the bankruptcy auction for teen clothing retailer Aeropostale weren’t a competing clothing chain or another retailer hoping to get into the teen clothing biz: it was a joint venture by mall landlords, who apparently didn’t want to face another hole in their shopping centers left by a bankrupt retailer. [More]
American Apparel CEO Expected To Leave Company Next Monday
By 9.23.16
While clothing company American Apparel has survived bankruptcy and is considering outsourcing its manufacturing operations to a cheaper city than Los Angeles, it will have to do all of that under a different leader: the company’s current CEO is reportedly leaving in just over a week. The company’s chairman also left recently after just about six months in the job. [More]
