UPDATE: The reports were true — Toys ‘R’ Us has indeed filed for Chapter 11 bankruptcy protection, and says it hopes to keep its stores running through this holiday season. [More]
bankruptcy watch
Payless Reportedly Looking To File For Bankruptcy, Possibly Next Week
By 3.22.17
There are certain givens when it comes to mall shopping: There’s always parking at Sears, and there’s a darn good chance you’ll find a Payless Shoesource store. However, the discount footwear retailer could see its roster of 4,000 locations slashed if reports of an impending bankruptcy filing are to be believed.
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BCBG Max Azria Files For Bankruptcy, Admits It’s No Longer Chic
By 3.2.17
The fashion retailer BCBG Max Azria closed 120 stores at the beginning of last month, setting off speculation that it might be about to file for bankruptcy. This speculation was correct: The purveyor of dressy yet affordable clothes filed for Chapter 11 bankruptcy today, seeking to either sell the business or make a deal that would give its junior creditors a stake in the business instead of cash. [More]
hhgregg Reportedly Considering Bankruptcy, Other “Strategic Initiatives”
By 2.24.17
Appliance and electronics retailer (and lower-case letter enthusiast) hhgregg has been in trouble financially for a while now, having lost money in each of the last 13 quarters. While the company is trying to avoid a bankruptcy filing, maybe you should dig out any gift cards that you have and use them now. [More]
Report: Aéropostale Will File For Bankruptcy Protection This Week
By 5.2.16
The Aeropostale Bankruptcy Watch may be over. After initial reports two weeks ago that the company was considering a filing in the coming month, now experts speculate that the troubled teen retailer could file later this week. Timing is key: with 800 stores, the company would need to file before its rent for May is due. [More]
Aeropostale Delisted For “Abnormally Low” Trading Price After Possible Bankruptcy Report
By 4.22.16
Just a day after in-the-know sources revealed that teen-clothing retailer Aeropostale was headed for bankruptcy, the company was delisted from the New York Stock Exchange. [More]
Report: Teen Retailer Aeropostale Prepping Bankruptcy Filing
By 4.21.16
The past few years haven’t exactly treated teen retailers well: DEB, Wet Seal, and dELiA*s (although it came back as an online-only store) are just a few of the brands that have filed for bankruptcy. Another once-popular teen-focused retailer is joining that list as Aeropostale is said to be prepping its own bankruptcy filing. [More]
American Apparel Isn't Doing Too Well
By 8.2.10
It’s been a while since we’ve had a good bankruptcy rumor floating around. Jezebel says thong superstore American Apparel is just asking for it: “[The retailer] has experienced declining year-on-year same-store sales in every month for which the company has made records available since February, 2009.” [More]
Samsonite Files For Bankruptcy
By 9.4.09
Yesterday, a gorilla* stormed through the offices of Samsonite Corp, the “world’s top luggage maker,” and jumped up and down on their financial status. Their retail unit filed for Chapter 11 bankruptcy and will close approximately half of their 173 stores.
In GM Bankruptcy Plan, Government Will Select New Board Of Directors
By 5.28.09
Let’s say the U.S. has poured billions of dollars into a failing company. How strongly should it try to protect that money once the company files for bankruptcy? The Washington Post is reporting that the plan for GM—which may go belly up as early as Monday—is for federal officials to select 5 or 6 of the company’s new board members, and have a say over which 6 of the existing board will remain. The UAW gets to choose another, and Canada might possibly be given one slot to fill. The rest of us will probably just get t-shirts or a souvenir mug.
GM Bondholders Say No To Debt-For-Stock Offer
By 5.27.09
GM’s debt-for-stock offer to its bondholders expires tonight. The company needs 90% of the bondholders to agree but has a fraction of that, notes CNN, which almost assures a bankruptcy filing in the coming days. We say “almost” because it’s possible the Treasury Department will extend talks with bondholders until June 1st, when GM’s other deadlines hit.
Ritz Camera Files For Bankruptcy
By 2.23.09
Ritz Camera, an occasional and colorful character on our blog (scam confessions! feedback bribery!) has just filed for Chapter 11 bankruptcy protection.
