Max Feingold

Shipping Company Bankruptcy Leaves Container Ships Stranded With Dwindling Food, Water For Crews

We recently wrote about how the bankruptcy of Hanjin Shipping could put holiday orders for hot-ticket items from companies like Samsung and LG at risk for delays and higher costs, but what we didn’t get into at the time was the increasingly spartan living situations for the workers stranded on board dozens of ships stuck at sea or in port. [More]

jpellgen

Aeropostale Receives A Bid That Would Keep At Least 229 Stores Open

Aeropostale, a teen-focused clothing retailer, filed for bankruptcy earlier this year, and since then its continuing existence has been in question. Its business assets are up for auction this week, and the retailer reports that a bid has come in that would keep the doors open and the jeans flowing onto store shelves. [More]

Fox & Hound, Champps Locations Closing After Owner Files For Bankruptcy

Fox & Hound, Champps Locations Closing After Owner Files For Bankruptcy

If you were planning on watching upcoming NCAA or NFL games at a Fox & Hound or Champps sport bar, you should call first. Dozens of locations for the bar/restaurant chains are shuttering only weeks after their parent company filed for bankruptcy protection.  [More]

Gawker.com Shutting Down After Bankruptcy Sale To Univision

Gawker.com Shutting Down After Bankruptcy Sale To Univision

Gawker Media declared bankruptcy in June after losing a major lawsuit. The company went up on the auction block this week and Univision bought it up. And while the company likely has plans in mind for at least some of what it paid for, the flagship site isn’t going with: Gawker.com is shutting down.

[More]

Nicholas Eckhart

Sports Authority Asks For Smaller Non-Bonuses For 3 Remaining Executives

Perhaps Sports Authority’s attorneys should have anticipated that the public and the chain’s former employees’ reaction to the news that the company wanted to distribute bonuses to some of its executives. Even the judge in the retailer’s bankruptcy case had harsh words about the bonus proposal. The company has filed another motion, though, seeking smaller bonuses and explaining that they are not, in fact, a reward for running the business into the ground. [More]

jpellgen

Bankrupt Aeropostale In Talks To Sell Company & Keep Brand Alive

After announcing last month that its planned reorganization under bankruptcy just wasn’t going to cut it, teen retailer Aeropostale began prepping to auction off its assets. Now, the company appears to be nearing a deal with a private equity firm.  [More]

Nicholas Eckhart

Logan’s Roadhouse Files For Bankruptcy, Will Close 18 Locations

No road trip would be complete without stopping by a kitschy restaurant right off the highway. Travelers will soon have slightly fewer eateries to choose from as Logan’s Roadhouse filed for bankruptcy Monday, detailing plans to close more than a dozen of its locations.  [More]

Kevin McCarthy (modified)

Michaels Buys Mailing Lists, Intellectual Property Of Hancock Fabrics

When the original intellectual property auction for the remaining assets of the former sewing and craft chain Hancock Fabrics concluded, the winning bidder was a company called ADMACO, Inc. Who? That turned out to be an alias for Michaels, the nationwide craft supplies chain, which will take over the Hancock Fabrics trademarks, and the 10 million names on its mailing list. [More]

Heath Alseike

Still No Sponsor To Replace Sports Authority On Mile High Stadium

Another deadline has come and gone, and yet no one has bid on the naming rights for the field where the Denver Broncos play. They previously belonged to the now-bankrupt retailer Sports Authority, and the company put the opportunity up for sale as part of its intellectual property auction. Auctioneer Hilco Streambank has extended the deadline twice now, but no bidder has made their interest public yet. [More]

After Failing To Find A Buyer, Texas-Based Retailer Hastings Closing All Stores

After Failing To Find A Buyer, Texas-Based Retailer Hastings Closing All Stores

A month after filing for bankruptcy and outlining a plan to find a buyer for its 123 stores, Hastings Entertainment announced it will instead close all of its stores and liquidate its assets.  [More]

jpellgen

Bankrupt Aeropostale Preparing To Sell Off Its Assets At Auction Next Month

After taking a few weeks to weigh its options, Aeropostale says it won’t be able to manage a reorganization under bankruptcy, and instead is getting ready to auction off all its assets in the coming weeks. It’s also taking fire at the lender it claims pushed it into bankruptcy in the first place.

[More]

Sports Authority Is Selling Its Headquarters’ iMacs And Foosball Table On Craigslist

Sports Authority Is Selling Its Headquarters’ iMacs And Foosball Table On Craigslist

If you live near Denver and are looking for a computer monitor, an ice machine, or a 24-foot conference table, the closing of Sports Authority presents you with a unique opportunity. The retailer isn’t just selling off all of its merchandise, store leases, and even its brand name and mailing lists. After closing its headquarters, the company is also selling furniture and computers. On Craigslist. [More]

Nicholas Eckhart

Sports Authority Bankruptcy Means Now Dick’s Sporting Goods Owns 114M Customer Records

Sports Authority is no more. The sporting goods store folded earlier this year, and for the past few weeks all their assets have been up on the auction block. That included all their intellectual property, which was snapped up this week by competitor Dick’s Sporting Goods. And that now means that if you were a Sports Authority customer, Dick’s just bought your information.

[More]

Retailer That Overcharged, Sued Servicemembers Makes Deal To Settle State Lawsuit

Retailer That Overcharged, Sued Servicemembers Makes Deal To Settle State Lawsuit

USA Discounters, the not-at-all discount retailer that went bankrupt last year amid accusations of running a financing scam on customers, is looking to close at least one state investigations with a proposal that would provide a bit of relief to some customers sued by USA Discounters. [More]

Nicholas Eckhart

Report: Dick’s Bids For Sports Authority Stores, Modell’s And Sports Direct Don’t

One interesting possibility in the bankruptcy auction for the stores of debt-laden retailer Sports Authority was that a partnership between Northeastern sporting-goods chain Modell’s and a United Kingdom retailer, Sports Direct, might take over between 100 and 200 stores and open some kind of joint venture. Now that the bids for store leases are in, we know that the companies didn’t do that, but competitor Dick’s Sporting Goods bid on 17 stores that Sports Authority is leaving behind. [More]

Nicholas Eckhart

Reminder: You Have Until Tuesday To Use Your Sports Authority Gift Cards

If you still have a Sports Authority gift card lurking somewhere in your papers, it’s time to pull it out and spend it on some ski pants or a camping knife or something. As the company’s business winds down, the last day that its remaining stores and website will accept gift cards is Tuesday, June 28, 2016. [More]

Mike Mozart

Report: Sports Authority Might Sell Stores To Modell’s And UK’s Sports Direct

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]

Texas-Based Retailer Hastings Files For Bankruptcy; Looks To Sell 126 Stores

Texas-Based Retailer Hastings Files For Bankruptcy; Looks To Sell 126 Stores

Following in the footsteps of companies like Blockbuster, Borders, and other retailers that sold or rented books, movies, and video games, Hastings Entertainment is bowing to years of faltering sales, filing for bankruptcy on Monday.  [More]