Employees of Payless ShoeSource who lost their jobs before the company’s bankruptcy filing have received some really difficult news: They won’t be receiving their severance payments for at least another month, as the company waits for its next hearing in federal bankruptcy court. [More]
retail bankruptcy
Gymboree Rumored To Be Prepping For Bankruptcy, So Use Your Gift Cards Now
By 4.11.17
Do you have a Gymboree gift card, or items to return or exchange? Stop putting that shopping trip off, because there are reports that the debt-laden children’s clothing retailer and enrichment class provider might be preparing to file for Chapter 11 bankruptcy soon. [More]
Here’s The List Of Payless Stores That Will Be Closing
By and 4.5.17 — Updated: 5.10.17
Now that Payless has filed for bankruptcy, the shoe chain will be closing the doors of 400 stores around the country. To help shoppers deal with the shutdowns, Payless has provided a list of not only which stores are closing but where shoppers can find stores nearby that will remain open. [More]
Number Of Big Retail Bankruptcies In 2017 Already Equal To All Of Last Year
By 3.31.17 — Updated: 4.1.17
We’re only three months into the year and already the retail battlefield is littered with the corpses of nine brands that have filed for bankruptcy — the same number that filed in all of 2016. [More]
Gander Mountain Files For Bankruptcy, Plans To Close 32 Stores
By 3.13.17 — Updated: 5.10.17
The sporting goods retail apocalypse continues, and as predicted a month ago, the latest victim is Gander Mountain. The chain of hunting, fishing, and camping superstores, which does substantial business in firearms, filed for bankruptcy at the end of last week. The business will go up for auction, with company leaders hoping to close the sale by May 15. [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]
Reminder: Friday Is The Last Day To Redeem Your RadioShack Gift Cards
By 11.29.16
The bankruptcy of RadioShack at the beginning of 2015 probably seems like a distant event to you now, but the business entity that used to be the massive electronics chain is still wrapping up its affairs. One of those last pieces of business is the end of gift card redemptions. The Shack’s estate will stop accepting requests on Friday, Dec. 2, 2016. [More]
Aeropostale Receives A Bid That Would Keep At Least 229 Stores Open
By 8.31.16
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]
Sports Authority Prepares To Auction Off Its Name, Your Name, Broncos Stadium Naming Rights
By 6.9.16
When a company files for bankruptcy protection and goes out of business, it sells off everything it owns with any value. That includes your name, if you’re on the retailer’s mailing list or part of their loyalty card program. Even the company’s own name goes up on the auction block. In the case of Sports Authority, the bankrupt company’s intellectual property includes the right to plaster their name on the field where the NFL’s Denver Broncos play. [More]
All Hancock Fabrics Stores Will Liquidate, Close
By 4.1.16
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]
Quiksilver Creditors Come To Agreement, Keep Surf Brand Going
By 1.28.16
Back in September, “action sports company” Quiksilver USA filed for bankruptcy protection, planning to reorganize and make its retail presence even more action-packed. After months of arguing over the value of the company, with creditors claiming that the company is worth $144 million more than it claims. Finally, the two sides have come to an agreement, and the bankruptcy will be settled. [More]
