Some retailers too broke to go bankrupt
4 years, 8 months ago

Some retailers too broke to go bankrupt

CNN  

New York CNN Business — Everything must go! Store-closing sales are crucial to the nation’s retail economy: They help liquidate slow-to-sell inventory, and in many cases, they fund a company’s operations through bankruptcy. But they also say many retailers are likely holding off filing until they are able to make plans for the stores they need to close during bankruptcy. “We probably would have seen more file by now if stores were open,” said Reshmi Basu, an expert in retail bankruptcies at Debtwire, which tracks the finances of troubled companies. A lot of companies are on hold because you can’t get the money you need coming in from liquidation sales.” Numerous national retailers are reported to be close to a bankruptcy filing.

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History of this topic

Why it seems like all of America’s chains are closing
1 week ago

Why it seems like all of America’s chains are closing

CNN  

New York CNN — The retail store apocalypse stormed back in 2024. Bigger chains can buy larger quantities of goods at a steeper discount than smaller players, and they can put vast sums of money into technology and store improvements that even medium-sized retailers can’t afford. Brutal year for the middle The rise in store closures this year harkens back …

The Container Store files for bankruptcy
2 weeks, 3 days ago

The Container Store files for bankruptcy

CNN  

New York CNN — The Container Store has filed for bankruptcy. The 46-year-old company said in a statement late Sunday that filing for Chapter 11 bankruptcy protection will help it “bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability.” The Container Store revealed in court documents that it has about $230 million in debt and just $11.8 …

US retailers have shut 7,300 stores so far this year, up nearly 60% from 2023
3 weeks, 2 days ago

US retailers have shut 7,300 stores so far this year, up nearly 60% from 2023

Daily Mail  

US retailers have closed 7,308 stores so far this year in what has been dubbed a 'retail bloodbath.' In the week ending December 13 129 stores were closed across the country, including 41 Family Dollar locations, 20 Dollar Generals and eight Dollar Trees. Family Dollar, which operates under the Dollar Tree brand, has closed the most stores in the last …

Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors
6 months, 4 weeks ago

Store closures are rocking the US market. Here’s the restaurants and retailers shutting their doors

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery A customer walks into …

Thousands of retailers risk bankruptcy, burdened with debt
2 years, 8 months ago

Thousands of retailers risk bankruptcy, burdened with debt

NL Times  

Thousands of retailers could close or go bankrupt in the coming months due to high debts, Nu.nl reports. Jan Meerman, who is general director of trade association INretail for the fashion, sports and shoe industry, told Nu.nl that around 20 percent of members have "serious problems." The Chamber of Commerce also forecasted a number of companies would close or file …

Big chains filed for bankruptcy and closed stores every week in July
4 years, 5 months ago

Big chains filed for bankruptcy and closed stores every week in July

CNN  

New York CNN Business — Coronavirus, massive amounts of debt and a shift in shopping habits created a lethal cocktail of bankruptcies and store closures in July. Justin Sullivan/Getty Images The once-trendy denim company filed for bankruptcy on July 3, explaining in a press release that the pandemic has “severely impacted sales across all channels.” Lucky Brand will immediately close …

Pandemic claims another retailer: 118-year-old J.C. Penney
4 years, 7 months ago

Pandemic claims another retailer: 118-year-old J.C. Penney

Associated Press  

NEW YORK — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. “The coronavirus pandemic has created unprecedented challenges for our families, our loved ones, our …

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