After filing for Chapter 11 bankruptcy protection and closing 120 stores, apparel retailer BCBG Max Azria had hopes that some bigger company would swoop in and save them from oblivion. Turns out there were actually two companies willing to rescue BCBG. [More]
bankruptcy auction
Anonymous Bidder For hhgregg Backs Out Before Bankruptcy Auction
By 3.17.17
When hhgregg filed for bankruptcy, the appliance and electronics retailer said it already had one possible, unidentified buyer lined up, ready to bid in the eventual auction. Alas, that bidder has reportedly backed out, leaving behind clues to its identity. [More]
The Right To Zombify The Limited Sells For $26.8M
By 2.22.17
The Limited closed its retail stores and its online presence earlier this year, but don’t worry: A well-known brand never stays dead for long. Sycamore Partners, a private equity firm that owns other familiar, once-troubled retail brands like Belk, Coldwater Creek, Hot Topic, Jones New York, Talbots, and Torrid, purchased the brand’s intellectual property and online presence. [More]
Report: Sports Authority Might Sell Stores To Modell’s And UK’s Sports Direct
By 6.21.16
At their recent bankruptcy auction, the winner of the inventory in Sports Authority stores was a trio of liquidators, not the company’s competitors. Other chains didn’t want to take on hundreds of stores at a precarious time in the sporting goods business. A new report, however, indicates that United Kingdom retailer Sports Direct might team up with Modell’s, a chain in the northeastern United States, to bid on at least a hundred store leases in one go. [More]
Dick’s Will Bid For Maybe 2 Dozen Sports Authority Leases After Stores Close
By 5.20.16
When Sports Authority locations and their merchandise went up for sale in the first round of auctions after the retailer filed for Chapter 11 bankruptcy protection, experts thought that the chain’s biggest competitor might bid for up to 100 stores to snap up areas where it doesn’t already do business. Dick’s did bid for some stores, but ultimately lost out to liquidators. That’s okay, though, the company’s CEO explained during an earnings call this week: they’ll go for the store leases after the locations they want close. [More]
Sports Authority’s Stores Have Been Sold To A Trio Of Liquidators, All Will Close
By 5.17.16
While regular customers and employees may have hoped that the competitors of bankrupt sporting goods chain Sports Authority would bid on its stores and inventory, taking over and keeping the branches open so they could expand into new markets. While Dick’s Sporting Goods and Modell’s did bid, ultimately the winner of all remaining stores was a group of three notorious liquidators bidding together: Tiger Capital Group, Hilco Global, and Gordon Brothers. Update: the store closing sales will begin on or around May 25, and run until the end of August. [More]
Today’s Bankruptcy Auction Will Decide RadioShack’s Fate
By 3.23.15
On Monday, Radio Shack will forever cease to be the retailer it once was, and will turn into something different as the result of a bankruptcy auction. Exactly what will emerge from the ashes depends on the bidders bellying up to bid on the chain’s remains. [More]
