In news that will come as a surprise to just about no one, hhgregg has filed for Chapter 11 bankruptcy. The appliance, electronics, and furniture retailer had previously announced it was, closing 40% of its stores, but it apparently concluded that the best strategy was a quick Chapter 11 and sale. [More]
bankruptcy
Midwest Off-Price Retailer Gordmans May Be In Financial Trouble
By 3.7.17
So far this year, several national retailers have filed for bankruptcy and closed some, if not all, of their doors. But it’s not just mega chains like Kmart, Macy’s, and The Limited that are hurting, regional chains are also feeling the pressure. To that end: off-price department store chain Gordmans is reportedly preparing to file for bankruptcy. [More]
What Can You Do When Your Adoption Agency Goes Bankrupt?
By 3.7.17 — Updated: 5.9.17
Adopting a child can require years of effort and huge financial expenses, with no guarantee that all your efforts will turn out successfully. It’s a lesson that thousands of hopeful parents are learning after the sudden bankruptcy of a large, national adoption agency. [More]
Company Born From RadioShack’s Ashes May File For Bankruptcy
By 3.3.17 — Updated: 3.4.17
After RadioShack filed for bankruptcy in 2015, a new company — formed by a partnership between Sprint and the Shack’s new owners at Standard General — rose out of the ashes. Now comes news that this company, General Wireless, may also be facing bankruptcy. [More]
BCBG Max Azria Files For Bankruptcy, Admits It’s No Longer Chic
By 3.2.17
The fashion retailer BCBG Max Azria closed 120 stores at the beginning of last month, setting off speculation that it might be about to file for bankruptcy. This speculation was correct: The purveyor of dressy yet affordable clothes filed for Chapter 11 bankruptcy today, seeking to either sell the business or make a deal that would give its junior creditors a stake in the business instead of cash. [More]
BCBG Max Azria Reportedly Prepping For Bankruptcy
By 2.28.17
Earlier this month, BCBG Max Azria Group announced the closure of nearly 120 stores, setting off rumors that it would soon join the growing list of mall tenants filing for bankruptcy. Now comes a report claiming that this filing could happen as soon as next week. [More]
Family Christian Closing All 240 Stores
By 2.27.17 — Updated: 3.14.17
After 85 years in business, Family Christian is closing for good, shutting down all 240 of its retail stores. [More]
The Right To Zombify The Limited Sells For $26.8M
By 2.22.17
The Limited closed its retail stores and its online presence earlier this year, but don’t worry: A well-known brand never stays dead for long. Sycamore Partners, a private equity firm that owns other familiar, once-troubled retail brands like Belk, Coldwater Creek, Hot Topic, Jones New York, Talbots, and Torrid, purchased the brand’s intellectual property and online presence. [More]
Midwestern Sporting Goods Chain MC Sports Files For Bankrutpcy, Starts Liquidation Sales
By 2.16.17
In March of last year, sporting goods mega-retailer Sports Authority filed for bankruptcy, apparently kicking off a fad in the industry as smaller chains like Golfsmith and Vestis Retail (twice) filed for bankruptcy protection, and outdoors superstore Gander Mountain is rumored to be considering it. Now a venerable regional chain is joining them: The Midwest’s MC Sports filed for bankruptcy, but is still looking for a buyer. [More]
Bankrupt Big Apple Circus Will Stay Alive Under New Ownership
By 2.14.17
The show must go on, and for the Big Apple Circus, that hackneyed old saying is actually true: A judge has approved a deal that will save the circus by selling its tents, equipment, and intellectual property to an investment firm. [More]
Report: Outdoors Superstore Gander Mountain Looking To File For Bankruptcy
By 2.13.17 — Updated: 3.13.17
Wait, there’s yet another sporting goods store potentially headed for bankruptcy? There are reports that Gander Mountain, an outdoorsy chain that calls itself “America’s firearms superstore” is headed for bankruptcy. [More]
Owner Of Eastern Mountain Sports And Bob’s Stores Files For Bankruptcy Again
By 2.6.17
Last year, Vestis Retail –– parent company of Sport Chalet, Eastern Mountain Sports, and Bob’s Stores –– filed for bankruptcy and shed the Sport Chalet brand. Now the company formed out of that bankruptcy, Eastern Outfitters, is itself filing for bankruptcy and hoping for a buyer. [More]
Wet Seal Files For Second Bankruptcy Since 2015
By 2.2.17
In a move that will surprise no one, young women’s clothing retailer Wet Seal has filed for bankruptcy for the second time in just over two years. This time, the chain will not be re-organizing, and it’s unlikely that a new owner will come along and rescue the business out of bankruptcy. [More]
Here’s How You Might Get Something Back From Gift Cards For The Limited
By 1.27.17
When a retailer files for bankruptcy protection, that typically means that it will stop accepting gift cards, which is very bad news if you happen to hold one. If customers of The Limited didn’t spend their gift cards before the chain shut down its retail stores and its website, they lose the value of their cards. [More]
Sports Authority Customers Are Shopping Somewhere, Not Sporting Goods Stores
By 1.25.17
Where did Sports Authority’s customers go? The sporting goods retailer filed for bankruptcy almost a year ago, closing all of its stores by the end of the summer. However, other retailers in this sector are puzzled because the Sports Authority customers who, in theory, should have taken their business to the competition have apparently just stopped buying sporting goods. [More]
The Limited Files For Bankruptcy, Shutters Online Store (For Now)
By 1.19.17
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]
Fate Of American Apparel Stores Remains Unclear After Bankruptcy Auction
By 1.17.17
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]
Report: American Apparel Starting Layoffs At Southern California Factories
By 1.16.17 — Updated: 1.17.17
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]
