Teen-targeted retailer rue21, which had already announced plans to close 400 stores and shift its focus to its website, has become the latest retail chain to file for bankruptcy, though it hopes to remain operational. [More]
restructuring
BCBG Max Azria Closing 120 Stores, Reportedly Looking At Bankruptcy Options
By 2.8.17
Following a trend set by Macy’s, Wet Seal, The Limited, and others, mall mainstay BCBG Max Azria plans to close 120 stores at shopping centers around the country, and may file for bankruptcy protection. [More]
Lawsuit Claims Jewel-Osco Discriminates Against Older Employees
By 1.19.17
Age is just a number, unless that number is used by an employer to discriminate against you, which is why four current and former employees of Jewel-Osco are suing the supermarket chain. [More]
Logan’s Roadhouse Files For Bankruptcy, Will Close 18 Locations
By 8.8.16
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]
Report: Teen Retailer Aeropostale Prepping Bankruptcy Filing
By 4.21.16
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]
Victoria’s Secret Parent Company Restructuring, Plans To Rely Less On Catalog
By 4.7.16
Before the era of online commerce, catalogs were the holy grail of shopping without leaving your house. Top on the list for many consumers were the thick books full of Victoria’s Secret merchandise. While the retailer continues to send out those catalogs, the company’s parents has plans to step away from the iconic mailers in the future.
[More]
Macy’s Closing 14 Stores As Part Of Restructuring Plan; Opening Two In California
By 1.9.15
Citing changes in the way consumers shop, department store giant Macy’s announced Thursday that it plans to shut 14 stores in an effort to increase its focus in online shopping. [More]
Struggling SeaWorld Ousts CEO As Part Of 11-Park Restructuring Plan
By 12.12.14
Struggling theme park and Worst Company in America contender SeaWorld appears to be attempting to revamp its image – starting at the top by replacing its CEO. [More]
6 Things To Know Now Before Buying A GM Or Chrysler Car
By 6.5.09
With the future uncertain, or at the very least, pretty different from normal, for Chrysler and GM, does it make sense to buy a car from one of these companies? How doe s the restructuring affect you as a potential new car owner? Consumer Reports Online Auto Crisis Center has the answers to six questions every Chrysler and GM car owner will want to know before signing on the line which is dotted.
Chrysler Will Close One Fourth Of Its Dealerships Next Month
By 5.15.09
Mark Calisi, 47, who owns Eagle Auto-Mall in Riverhead, New York, says he was “devastated” to learn that his dealership would be closed. He said Chrysler accounts for a third of his business, which also sells Volvo, Mazda and Kia, and that on Thursday he had to sack 30 of his 100 employees.
Ritz Camera Files For Bankruptcy
By 2.23.09
Ritz Camera, an occasional and colorful character on our blog (scam confessions! feedback bribery!) has just filed for Chapter 11 bankruptcy protection.
By 7.30.08
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You Starbucks haters out there can rejoice, because the company just posted its first quarterly loss EVAR “of $6.7 million, or 1 cent per share, compared with a year-earlier net profit of $158.3 million, or 21 cents per share.” Store closures and restructuring are to blame, as well as the fact that nobody can afford anything anymore. [Reuters]
By 2.15.08
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Wilson’s Leather is closing half of their stores and firing 1,000 people. [Wall Street Journal]
Chiquita Restructures, Cuts 160 Management Positions
By 10.30.07
Militia-funding banana company Chiquita has announced a big restructuring plan that will eliminate 160 management jobs, including 21% of the top three tiers of management, for a savings of $60-80 million dollars in 2008. The company says it will use the savings to pay down debt. It doesn’t mention, however, that last month it was fined $25 million for financially supporting both left- and right-wing paramilitary groups in Colombia from 1997 to 2004.
