TheGlassPeople

American Apparel Confirms It Might Lay Off 3,500 Workers Next Month

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]

TheGlassPeople

American Apparel Hands Out Layoff Notices, Extends Bidding Period

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]

Matthew Hunt

Reminder: Friday Is The Last Day To Redeem Your RadioShack Gift Cards

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]

Michael Kalus

American Apparel Files For Bankruptcy (Yes, Again)

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]

Samuel M. Livingston

Report: Takata Could File Bankruptcy Of U.S. Assets, But It Won’t Happen Soon

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]

Yelp Inc.

DirectBuy Wants Everyone To Know Its Business Model Is Less Terrible Now

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]

Yelp Inc.

DirectBuy Files For Bankruptcy, Lenders Will Take Over Company

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]

Freaktography

Report: Dick’s Won Auction For Golfsmith’s Intellectual Property, U.S. Stores

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]

Freaktography

Dick’s Plans To Bid On Bankrupt Competitor Golfsmith

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]

(Listener42)

Lawmakers: Takata Bankruptcy Could Leave Consumers On The Hook For Repairs

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]

James Callan

Fast-Casual Chain Cosi Declares Bankruptcy, Shutters 29 Locations

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]

jpellgen

Here’s Why Mall Owners Stepped In To Save Aeropostale

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]

TheGlassPeople

American Apparel CEO Expected To Leave Company Next Monday

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]

jpellgen

Aeropostale Increases Number Of Stores That Will Stay Open To 400

Earlier this week, a bankruptcy judge approved a $243 million bid from a group of mall landlords, liquidators, and a licensing company that would save 229 of Aeropostale’s 720 stores from closing their doors forever. Things are looking even better than expected now for the teen retailer, as its new owners say they’ll be able to keep open 171 more stores than originally planned. [More]

Max Feingold

Bored Hanjin Ship Crew Spends Third Week Off Coast Of Singapore

The good news for the crew of a Hanjin ship left stranded by the company’s abriupt bankruptcy is that it has plenty of food and water, something that their union worried about. Crew members even have local prepaid cell phone cards so they can stay in touch with their families. They would prefer to be at home with their families, and to know whether they’ll still have jobs or be able to find jobs once they’re finally allowed off the ship. [More]

Sam Ejnes

Sporting Goods Store Apocalypse Continues With Bankruptcy Of Golfsmith

You might not recognize the name Golfsmith, but it’s the biggest golf-only store in North America, with 109 stores here and 55 in Canada. Golf, however, isn’t as hot as it was in the years after Tiger Woods went pro, and the sport’s popularity is waning. That means there’s less need for all-golf stores. [More]

JeepersMedia

Bankruptcy Judge Approves Sale Of Aeropostale That Could Keep 229 Stores Open

It looks like the bid Aeropostale received at the end of August that could end up saving at least 229 stores and 7,000 or so jobs is one step closer to the real thing for the struggling teen retailer, after a bankruptcy judge gave the offer his approval. [More]

Consumerist

Samsung Trying To Pay To Get Its Stuff Off Stranded Hanjin Ships

For more than a week, dozens of container ships operated by Hanjin Shipping have been stranded at sea after the company’s sudden bankruptcy filing, delaying deliveries for goods just as retailers are stocking up for the holiday shopping season. Now Samsung is asking a judge for help to get its stuff out of Hanjin’s hands. [More]