Nicholas Eckhart

Sports Authority: Nope, We’re Not Liquidating… Yet.

A week after an attorney for Sports Authority told a bankruptcy court that the sporting goods retailer would not continue and planned to liquidate its assets, the company says the term “liquidation” is not in its vocabulary, at least not yet.  [More]

Nicholas Eckhart

Sports Authority Will Liquidate, Sell Some Stores To Competitors

When Sports Authority filed for bankruptcy protection last month, the company hoped that it might be able to survive the process, re-organizing its debts and keeping some of its stores open. Today in bankruptcy court, a company attorney told the judge that Sports Authority will not continue, and there are prominent but unnamed companies that may purchase some of the chain’s remaining 300 or so stores. The bankruptcy auction will be on May 16. [More]

Mike Mozart

Aeropostale Delisted For “Abnormally Low” Trading Price After Possible Bankruptcy Report

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]

Mike Mozart

Report: Teen Retailer Aeropostale Prepping Bankruptcy Filing

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]

Why Are So Many Sporting Goods Stores Going Bankrupt?

Nicholas Eckhart/Edwin Ruskin Nordrike Parker

196. That’s the number of sporting goods stores that are set to close after two retail companies filed for bankruptcy in recent weeks. While the failures of Vestis Retail Group — the operator of retailers Eastern Mountain Sports, Sport Chalet, and Bob’s — and Sports Authority were accelerated by mountains of debt both incurred in recent years, there’s more at work when it comes to the apparent demise of sporting goods retailers.  [More]

Midwest Career College Abruptly Closes Doors, Files For Bankruptcy

Midwest Career College Abruptly Closes Doors, Files For Bankruptcy

Thousands of students attending Wright Career College in Oklahoma, Nebraska, and Kansas are now scrambling to figure out how to finish their education after the school abruptly closed its doors and filed for bankruptcy.  [More]

Edwin Ruskin Nordrike Parker

Another Sporting Goods Company Files For Bankruptcy; All Sport Chalet Stores Closing

With the dust just beginning to settle surrounding the bankruptcy and 140-store closure of sporting goods retailer Sports Authority, another, albeit smaller, outdoor gear retailer is following suit. Vestis Retail Group, the operator of brand Eastern Mountain Sports, Bob’s Stores, and Sport Chalet, officially filed bankruptcy papers today, outlining a restructuring plan that focuses on closing 56 stores.  [More]

JeepersMedia

PacSun Files For Chapter 11 With Restructuring Plan That Will Keep Stores Open

As we suspected earlier this week, ’90s mall staple Pacific Sunwear — known as PacSun to all the cool kids — has announced it’ll be filing for Chapter 11. Don’t start your teary farewell speech just yet — the company has a restructuring plan already in place to avoid liquidating its inventory, and will keep stores running throughout the process. [More]

Mike Mozart

Report: Parent Company Of Eastern Mountain Sports Also Headed For Bankruptcy

We can draw only one conclusion from the bankruptcies of Sports Authority and the parent company of Eastern Mountain Sports, Bob’s Stores, and Sport Chalet: Apparently, Americans have stopped going outside. Or maybe there’s some kind of larger business issue with the sporting-goods business sector. Probably the second thing. [More]

Nicholas Eckhart

Sports Authority Comes To Agreement With Suppliers To Sell Winter Gear

Should you trust someone who’s broke to hold on to your stuff and sell it for you? Suppliers to the bankrupt Sports Authority decided that they didn’t, and filed lawsuits to keep the retailer from selling winter sports merchandise and cold-weather gear and to get it back. Now they’ve reached a settlement over the merchandise… now that winter is over, naturally. [More]

JeepersMedia

PacSun Reportedly Preparing To File For Bankruptcy

The bankruptcy rumor mill has been turning yet again, with a new report in the wind that says Pacific Sunwear — commonly known as PacSun — is preparing a Chapter 11 filing. [More]

All Hancock Fabrics Stores Will Liquidate, Close

Kevin McCarthy (modified)

Back in February, the long-troubled craft store chain Hancock Fabrics filed for bankruptcy for the second time in a decade. This time, there will be no reorganization. The chain planned to close 70 stores and tried to find a buyer for the remaining 185 that would keep the open and preserve thousands of jobs across the country. The winning bidder in yesterday’s auction in bankruptcy court was Great American Group, a liquidator. [More]

Steven Depolo

Debt Relief Company Must Pay $170M For Illegally Charging Customers

Back in 2013, the Consumer Financial Protection Bureau sued Morgan Drexen, accusing the debt relief company of deceiving customers with promises of reducing their debt and charging illegal upfront fees to do so. Today, the Bureau announced a federal district court approved a final judgement requiring the company to pay $132.8 million in restitution and a $40 million civil penalty.  [More]

Aranami

5 Strange Things We Learned About Sudden Closures Of Old Country And HomeTown Buffets

Earlier this month, buffet restauranteur Ovation Brands filed for bankruptcy and abruptly shut down many of its restaurants — like Old Country Buffet, HomeTown Buffet, Fire Mountain, and Ryan’s Steakhouse — without even a heads-up to its employees. Curious about what drove Ovation into this bankruptcy — the company’s third since 2008 — we took a closer look at some of the court filings, which raised more questions than they did answers. [More]

Nicholas Eckhart

Here’s The List Of Sports Authority Stores That Are Closing

Yesterday, Sports Authority filed for bankruptcy, and right now they have two choices about how to go forward: sell out to a competitor or reorganize the company and their $1.1 billion in debt. they’re kicking off the proceedings by closing 140 stores. Here’s the preliminary list of stores that will close, which are scattered across the country but concentrated in Texas. [More]

Sports Authority Officially Declares Bankruptcy, Will Close Up To 140 Locations

Sports Authority Officially Declares Bankruptcy, Will Close Up To 140 Locations

As it was foretold, so it has come to pass — and quickly: National retail chain Sports Authority Inc. is filing for bankruptcy today. [More]

Mike Mozart

Sagging Sports Authority May Sell Stores To Dick’s

Last week, it was reported that Sports Authority is preparing to file for Chapter 11 bankruptcy protection in the hope of restructuring its business and shedding hundreds of million in debt. Now comes news that this rebuild may involve selling some of its retail locations to competitors like Dick’s Sporting Goods. [More]

Major Airlines’ Regional Partner, Republic Airways, Files For Bankruptcy Over Pilot Shortage

Major Airlines’ Regional Partner, Republic Airways, Files For Bankruptcy Over Pilot Shortage

Two years ago, regional airlines warned that new regulations, higher costs of school, and lower salaries had led to a shortage of pilots for the companies that typically handle the smaller, regional routes for larger airlines. Now, one short-haul carrier says that lack of pilots is the reason it’s filed for bankruptcy.  [More]