• Home
  • Tags
  • bankruptcy

bankruptcy news and archive

Business

Gymboree Group files for Chapter 11 Bankruptcy Protection

Gymboree Group Inc., the parent company of childrenswear brands Gymboree, Crazy 8 and Janie and Jack, has filed for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the second time in two years. The company, which operates hundreds of stores in the United States, Canada and Puerto Rico, has also announced that its...

loading...

Business

Nine West Holdings files amended bankruptcy plan

Nine West Holdings Inc, which recently got rid of its footwear brands to focus on jewelry and accessories, has filed an amended Chapter 11 bankruptcy plan of reorganization, which will reduce its pre-bankruptcy debt obligations by over 1 billion US dollars. “Following the successful sale of our Nine West and Bandolino footwear and handbag...

loading...

RetailFeatured

Map of a giant collapsing: some happy, others not

Following the filing of bankruptcy by Sears Holdings, 142 Sears & Kmart stores across the US will be liquidated. Here is a map showing their locations. While bankruptcy of Sears means havoc for its shareholders, many landlords are happy to see them go. According to NBC News, one location in Staten Island, New York can look forward to a 727...

loading...

ManagementFeatured

Sears Holdings files for bankruptcy, to close 142 more stores

Sears Holdings Corp. said Monday that the company and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The company noted that it will also close 142 unprofitable stores near the end of the year. Edward Lampert has...

loading...

Management

Charlotte Olympia files for Chapter 11 bankruptcy protection in the US

London - Charlotte Olympia, the luxury footwear and accessories label from Charlotte Dellal has filed for bankruptcy protection in the United States. The London-based label's three US subsidiaries have filed for Chapter 11 bankruptcy protection in Delaware, as it prepares to close all of its stores in the US, according to media reports. Pinktoe...

loading...

Report

Founder of Karen Millen revealed to be bankrupt

London - Karen Millen, the founder of the eponymous womenswear label, has been officially declared bankrupted by the High Court. Millen, who founded the global retailer over 35 years ago, failed to pay over 6 million pounds to HM Revenue and Customs in unpaid taxes and could lose her 3 million pound home in Kent. The former designer is said to...

loading...

Report|UPDATE

Boohoo to finalise acquisition of Nasty Gal by the end of the month

London - Boohoo.com is set to finalise its acquisition of certain assets from Nasty Gal by the end of the month, as the US fashion retailer failed to generate any other acceptable or qualifying bids. The Manchester-based retailer previously announced it had entered into an asset purchase agreement to acquire certain intellectual property assets...

loading...

Report

​The UK's high street said farewell to 30 retailers in 2016

London - 2016 was not the kindest year for UK retailers as 30 retailers went bust in 2016 - an increase of 20 percent compared to the 25 medium-to-large retailers that went under in 2015 according to the latest data from the Centre of Retail Research. The number of stores to close their doors for good in the UK as a result of the retailer's...

loading...

Retail

Tamara Mellon aims to relaunch brand next month

Tamara Mellon is said to be preparing for her big return to the industry next month, as the footwear designer is set to relaunch her eponymous brand online this October under a direct-to-consumer business model. The new structure is said to remove all wholesale accounts and see Tamara Mellon offers it products exclusively through its new...

loading...

Report

McGregor Fashion Group dispels bankruptcy worries

London - Although McGregor Fashion Group was recently granted a suspension of payments by the court in Amsterdam, the company stresses that a bankruptcy is not on the agenda. The Dutch fashion company, which owns the brands McGregor, Gaastra and Adam menswear, found itself in financial trouble and filed for a temporary postponement of payments...

loading...

Management|UPDATE

Aeropostale files for bankruptcy protection

Fast changing fashion trends have been hitting Aeropostale badly for the last several quarters, and at last it opted for Chapter 11 bankruptcy filing on Wednesday. The company is planning to shut down 154 stores in total - 113 in U.S. and 41 in Canada. It had around 800 stores and more than 14,500 staff across all the States in U.S, in addition...

loading...

Report

Aeropostale's bankruptcy causes issues with shareholder

Los Angeles - After prepping for a Chapter 11 bankruptcy, it seems that Aeropostale is only headed for more turmoil. The filing is potentially opening the teen retailer up to a conflict with one of its major shareholders: Sycamore Partners. The reason that the court filing may cause problems for its shareholders is due to Sycamore Partners’...

loading...