The Limited Files For Bankruptcy, Shutters Online Store (For Now)

The Limited Files For Bankruptcy, Shutters Online Store (For Now)

The retail slaughter continues on in 2017 with its latest victim: after shutting down all 250 remaining stores Jan. 8, The Limited has filed for bankruptcy and has shuttered its online store — for now, at least. [More]

Michael Kalus

Fate Of American Apparel Stores Remains Unclear After Bankruptcy Auction

Last week, Canada’s Gildan Activewear purchased the American Apparel brand, but not the company’s retail locations, leading to reports that all 110 stores would be shuttered. Yet, what remains of American Apparel won’t confirm those closures — for the moment. [More]

TheGlassPeople

Now that American Apparel has been sold off to Canadian-based apparel maker Gildan Activewear, not only could all 110 stores reportedly be closing, but the retailer’s new owner has also decided not to buy some of its manufacturing operations after all, insiders say, prompting the start of layoffs for thousands of workers in Southern California. [More]

saeru

Big Apple Circus Assets Going Up For Sale In Bankruptcy Auction

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]

TheGlassPeople

Report: Amazon, Forever 21 Interested In Buying Bankrupt American Apparel

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

Former ITT Tech Students Sue To Be Included In Bankruptcy Proceedings

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]

Phillip Pessar

It’s Probably Time To Use Up Your Gift Cards For The Limited

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]

Michael Kalus

American Apparel To Liquidate Nine Stores Ahead Of January Auction

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]

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]