bankruptcy protection

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Crafts Retailer Joann Files for Chapter 11

But it expects to emerge from bankruptcy protection as early as next month

(Newser) - Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, reports the AP , as consumers continue to cut back on discretionary spending. In a Monday release, the company based in Hudson, Ohio, said that it expected to emerge from bankruptcy as early as the end of next month....

'Profound Disappointment:' Yellow Trucking Won't Make It

Longstanding firm files bankruptcy, will liquidate

(Newser) - There will be no miracle recovery for the venerable Yellow trucking company. The 99-year-old firm filed for bankruptcy late Sunday, reports the Wall Street Journal . "It is with profound disappointment that Yellow announces that it is closing after nearly 100 years in business," said Chief Executive Darren Hawkins....

For the 2nd Time in 5 Years, Bad News for David's Bridal

70-year-old chain, $257M in debt, files for Chapter 11 bankruptcy protection

(Newser) - For more than 70 years, David's Bridal has served as one of the nation's biggest one-stop wedding party shops, claiming that 1 in 4 brides don its wedding dresses on their big day. Now, however, the Pennsylvania-based chain is $257 million in debt, per court documents, and it'...

Bed Bath & Beyond Gets Help Restocking Its Shelves

ReStore Capital commits $120M to buy merchandise from suppliers

(Newser) - The struggling Bed Bath & Beyond retail chain is raising money the old-fashioned way: by selling merchandise. The company had already announced a stock offering it hoped would bring in $300 million to help it avoid filing for bankruptcy protection. On Wednesday, the company announced a deal with ReStore Capital,...

Bed Bath & Beyond Sees One Way to Avoid Bankruptcy

Company plans a stock offering that would have to do better than the last one

(Newser) - To pay its debts and stay in business, Bed Bath & Beyond said Thursday it's planning a stock offering to raise $300 million. If the sale falls short of that amount, the company said it probably will file for bankruptcy protection, CNN reports. The share price has been dropping...

Bed Bath & Beyond to Shut More Stores

Company says it's lined up $1B to head off bankruptcy filing

(Newser) - Despite raising more than $1 billion to head off bankruptcy, Bed Bath & Beyond says it's going to close another 150 stores. Both developments were reported Monday in a regulatory filing, NBC News reports, as the company attempts to reorganize its finances. It already had announced that 200 stores...

Cineworld Looks at Bankruptcy
Theaters Weigh Chapter 11
Aug 22, 2022 6:02 PM CDT

Theaters Weigh Chapter 11

Cineworld, which owns Regal Cinemas, is $5B in debt

(Newser) - Struggling under debt totaling $5 billion, the parent company of Regal Cinemas said Monday it's weighing a bankruptcy filing in the US. Cineworld said that while it considers reorganization, its theaters will remain open and none of its 28,000 jobs globally will be cut, the BBC reports. The...

Boy Scouts Reach Pivotal Agreement in Bankruptcy Case

It would be one of the largest sums in US history involving sexual abuse cases

(Newser) - The Boy Scouts of America have reached an $850 million agreement with attorneys representing some 60,000 victims of child sex abuse in what could prove to be a pivotal moment in the organization’s bankruptcy case, the AP reports. The settlement would mark one of the largest sums in...

Sexual Abuse Claims Pour In Against Boy Scouts

Court receives more than 82K filings before deadline

(Newser) - A bankruptcy court in Delaware handling the Boy Scouts of America case set a deadline of Monday for people who say they were sexually abused to file claims. By late Sunday, 82,663 had, from every state as well as military bases in Germany and Japan, the New York Times...

Not-So-Sweet News for Friendly's Chain
Another Corporate
Casualty of COVID
Nov 2, 2020 10:00 AM CST

Another Corporate Casualty of COVID

Friendly's restaurant chain, known for its ice cream sundaes, has filed for Chapter 11

(Newser) - Friendly's Restaurants, an East Coast dining chain known for its sundaes, is filing for bankruptcy protection. The company, which runs its restaurants under the parent company FIC Restaurants Inc., will sell substantially all of its assets to the restaurant company Amici Partners Group, per the AP . All 130 of...

'Nation's First Department Store' Files for Bankruptcy

Lord & Taylor files for Chapter 11

(Newser) - Another big retail name is going under amid the coronavirus pandemic: Lord & Taylor filed for Chapter 11 bankruptcy protection Sunday. However, as the New York Times reports, the department store chain had been struggling even before COVID-19. Clothing rental start-up Le Tote bought Lord & Taylor last year, and...

COVID Brings Another Retailer to Chapter 11

Parent company of Ann Taylor, Lane Bryant seeks bankruptcy protection

(Newser) - The pandemic has pushed another big-name retailer into bankruptcy. The parent company of Ann Taylor and Lane Bryant filed for Chapter 11 protection on Thursday. The Ascena Retail Group plans to close about 1,100 stories across the country, including all of its Catherines stores and many of its Justice...

COVID Claims Another Business Casualty

Small-engine maker Briggs & Stratton seeks bankruptcy protection

(Newser) - Briggs & Stratton Corp., billed as the world's largest manufacturer of small gas engines, has filed for bankruptcy protection, per the AP . "The challenges we have faced during the COVID-19 pandemic have made reorganization the difficult but necessary and appropriate path forward to secure our business," Chief...

Chuck E. Cheese Files Chapter 11
Kids' Favorite Goes Chapter 11
Jun 25, 2020 5:55 PM CDT

Kids' Favorite Goes Chapter 11

Chuck E. Cheese pizza chain was in trouble even before the pandemic

(Newser) - Chuck E. Cheese—where kids could be kids while parents nursed headaches—is filing for bankruptcy protection. The 43-year-old chain, which drew kids with pizza, video games, and a singing mouse mascot, was struggling even before the coronavirus pandemic. But it said the prolonged closure of many outlets due to...

SEC Puts Damper on Hertz Plan to Sell Possibly 'Worthless' Stock

Car rental company wanted to dump $500M in common stock during bankruptcy proceedings

(Newser) - After a tumultuous few months, Hertz now has another wrench thrown into its works. Unable to endure the coronavirus pandemic, the car rental company filed for bankruptcy protection last month, then noted Monday in a government filing that it planned to sell $500 million in common stock—all while warning...

Bankruptcy for Hertz: 'No Business Is Built for Zero Revenue'

But Hertz and subsidiaries will continue to operate after being slammed in pandemic

(Newser) - Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business. The company's lenders were unwilling to grant it another extension on its auto lease debt payments past a Friday deadline,...

This Might Be First Major Department Store Casualty

Neiman Marcus to file for bankruptcy amid pandemic, says Reuters

(Newser) - With all of its stores closed, burdened by $4.8 billion in loans, Neiman Marcus is moving toward seeking bankruptcy protection. The filing could come this week, Reuters reports. It would be the first major department store company to reach that point since the pandemic hit the US, and Neiman...

Boy Scouts of America Files for Bankruptcy

Organization faced flood of sexual abuse lawsuits

(Newser) - The Boy Scouts of America, fighting for survival amid a flood of sexual abuse lawsuits, has filed for bankruptcy protection. The Chapter 11 filing early Tuesday marks the start of what is expected to be one of the most complex bankruptcies in US history, lawyers tell NBC . Changes in statute-of-limitation...

It's Chapter 11 for Forever 21
It's Chapter 11 for Forever 21
Sep 30, 2019 4:07 AM CDT

It's Chapter 11 for Forever 21

Retailer calls bankruptcy filing a 'deliberate step'

(Newser) - Low-cost fashion retailer Forever 21 says it has filed for bankruptcy protection—but that doesn't mean it is doomed. In a letter to customers Sunday, the 35-year-old chain said it will be business as usual during reorganization and filing for Chapter 11 protection "is a deliberate and decisive...

High-End Clothier to Shutter Most Stores

Barneys' flagship NYC location will remain open, but many others to close in bankruptcy filing

(Newser) - Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar. The iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but it has secured $75 million in...

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