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]
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]
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.
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]
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]
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.
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]