Distressed Retail

  • A bright green facade says "Joann" in white capital letters, and "handmade happiness" in white script.
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    Courtesy of Joann
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    Joann shoppers to shift purchases to Michaels, Hobby Lobby

    The craft retailer’s store closures have left shoppers searching for alternatives, according to a Numerator survey.

    By Tatiana Walk-Morris • Feb. 27, 2025
  • Joann store.
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    Courtesy of Joann
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    Joann to be sold, all stores going out of business

    Pending court approval, GA Group and the company’s lenders are winding down the retailer’s operations.

    By • Feb. 24, 2025
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    "Dartmouth Mall, Dartmouth, Massachusetts" by JJBers is licensed under CC BY 2.0
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    Trendline

    Top 5 stories from Retail Dive

    Though some of the problems of the pandemic have waned, retail continues to reel from C-suite turnover, changes in ecommerce and reassessment of DEI policies.  

    By Retail Dive staff
  • A former Express apparel storefront in a mall is closed, with the gate down and windows covered.
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    Nate Delesline III/Retail Dive
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    Store closures outpace openings amid ‘historic shift’ to service-based tenants

    But the outlook isn’t all bad, as the real estate churn may open up 140 million square feet of retail space in a market where high quality storefronts are in short supply, a JLL report says.

    By • Feb. 21, 2025
  • Joann store.
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    Courtesy of Joann
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    Joann to close more than 500 stores

    The crafts retailer, which received no buyer interest in the locations, could liquidate entirely if a sale to Gordon Brothers comes to fruition.

    By • Feb. 13, 2025
  • A Party City storefront
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    Nate Delesline III/Retail Dive
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    Party City IP, wholesale operations to be acquired for $20M

    An affiliate of Ad Populum is buying the party retailer's IP, but Dollar Tree and Five Below emerged as top bidders for the company's store leases.

    By • Feb. 11, 2025
  • A daytime image of a Bargain Hunt storefront
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    Permission granted by Hilco
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    Bargain Hunt files Chapter 11 with plans to close all stores

    Losing a customer returns partnership with Amazon contributed to the company’s difficulties, along with annual losses and a competitive environment.

    By • Feb. 10, 2025
  • The exterior of a Billabong store.
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    The image by BrokenSphere is licensed under CC BY-SA 3.0
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    Liberated Brands files for Chapter 11 bankruptcy

    The move comes after the group lost part of its licensing agreement with Authentic Brands Group for the Boardriders portfolio, which includes brands such as Billabong and Roxy.

    By Laurel Deppen • Feb. 7, 2025
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    Kendall Davis/Retail Dive
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    Podcast

    The Backroom: A new retail apocalypse?

    The team discusses a recent report that U.S. retailers are set to shutter many more stores than they plan to open in 2025 — and what that really means.

    By Retail Dive Staff • Jan. 30, 2025
  • Exterior shot of The Container Store.
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    Courtesy of The Container Store
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    The Container Store exits bankruptcy

    The retailer used Chapter 11 to shed nearly $88 million in debt and will go forward as a privately held company owned by its lenders.

    By • Jan. 29, 2025
  • On the brown tile floor of an indoor soccer pitch, a white scuffed up gear bag with the word PUMA sits behind a pair of blue and white soccer cleats. One cleat leans against a soccer ball.
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    Courtesy of Puma
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    Column

    The Weekly Closeout: Puma eyes ‘efficiency program,’ Adidas could cut jobs

    Puma wants to improve operations and cut costs in the name of profitability, while Adidas said its operating model is too complex.

    By Retail Dive Staff • Jan. 24, 2025
  • The storefront of Books Inc. in Alameda, California.
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    Permission granted by Books Inc.
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    Books Inc. files for Chapter 11

    The California-based retailer said the pandemic kicked off years of falling revenue and rising costs. It will close at least one store but stay in business.

    By • Jan. 23, 2025
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    Daphne Howland/Retail Dive
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    Joann files for bankruptcy for the second time in a year

    The crafts retailer was forced back into Chapter 11 by the wider retail environment and its own financial and inventory woes, the company said.

    By • Jan. 15, 2025
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    Yujin Kim/Retail Dive
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    These retailers could file for bankruptcy in 2025

    From At Home to Guitar Center, here’s who’s most at risk in the year ahead.

    By • Updated Jan. 18, 2025
  • A photo of a Big Lots storefront.
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    Permission granted by Big Lots
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    Column

    The Weekly Closeout: Ulta’s future and Big Lots’ store-saving deal

    The beauty retailer named a new CEO while Big Lots closed on a sale agreement that will enable it to keep hundreds of stores open.

    By Retail Dive Staff • Jan. 10, 2025
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    Leon Neal via Getty Images
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    8 retail trends to watch in 2025

    Each year brings unique headwinds and tailwinds. From increased attention on DEI efforts to the shifting nature of DTC, this is what we’ll be following in 2025.

    By Retail Dive Staff • Jan. 7, 2025
  • A Big Lots storefront with a cloudy gray sky
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    Nate Delesline III/Retail Dive
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    Big Lots’ new deal could keep up to 400 stores open

    Under the transaction, Variety Wholesalers would acquire at least 200 stores and up to two distribution centers, saving jobs in the process.

    By • Dec. 30, 2024
  • store front of Party City
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    Daphne Howland/Retail Dive
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    Party City to close all stores in bankruptcy

    About 14 months after emerging from Chapter 11, the retailer finds itself in bankruptcy court once again. This time, it’s liquidating.

    By • Dec. 23, 2024
  • An organized closet display featuring The Container Store's "Custom Spaces" branding.
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    Courtesy of The Container Store
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    The Container Store files for bankruptcy, but it’s business as usual

    Thanks to an agreement with most of its term loan lenders, the retailer will keep its stores and website open and emerge as a private company.

    By • Dec. 23, 2024
  • A Big Lots storefront with a cloudy gray sky
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    Nate Delesline III/Retail Dive
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    Big Lots to start going-out-of-business sales

    The move comes as the company lays off over 500 employees at its corporate headquarters.

    By • Dec. 20, 2024
  • A blue 2025 Hyundai IONIQ 5 N
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    Courtesy of Amazon
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    Column

    The Weekly Closeout: Adidas headquarters searched, Amazon starts selling cars

    The activewear brand is under investigation for tax and customs compliance, while the e-commerce giant is offering Hyundai cars through Amazon Autos.

    By Retail Dive Staff • Dec. 13, 2024
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    Permission granted by Foxtrot
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    Outfox Hospitality faces $3.8M in labor penalties

    The Illinois Department of Labor seeks back wages from the bankrupt retailer for failing to give workers 60 days’ notice before they were laid off.

    By Jessica Loder • Dec. 11, 2024
  • A white storefront with a blue Container Store logo on it.
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    Courtesy of The Container Store
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    NYSE moves to delist The Container Store

    The home retailer has made several moves this year to strengthen its financial position as consumer reticence around discretionary spending persists.

    By • Dec. 10, 2024
  • Puffy clouds and green trees frame a suburban department store building.
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    Daphne Howland/Retail Dive
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    Under new ownership, Lord & Taylor revives old logo and comeback dreams

    The chief strategy officer at Regal Brands Global, which now runs the venerable department store, talks to Retail Dive about what comes next.

    By • Dec. 10, 2024
  • A Tupperware display at Target.
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    Kaarin Moore/Retail Dive
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    Lender group completes acquisition of Tupperware’s assets

    Party Products LLC — made up of Stonehill Capital Management and Alden Global Capital — has acquired the company’s brand name and other assets.

    By Howard Ruben • Dec. 4, 2024
  • A white storefront with a blue Container Store logo on it.
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    Courtesy of The Container Store
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    Beyond’s $40M investment in The Container Store may be off

    The Container Store’s failure to reach a satisfactory agreement with lenders puts their deal at risk, both retailers warned this week.

    By • Nov. 21, 2024