Distressed Retail: Page 10
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Daphne Howland/Retail Dive
Bed Bath & Beyond snags a much-needed loan: WSJ
The retailer needs all the cash it can get to pay suppliers, deal with looming maturities and try to right a struggling business.
Aug. 24, 2022 -
Daphne Howland/Retail Dive
Bed Bath & Beyond downgraded at S&P
Analysts slapped a CCC grade on the company, citing “very poor sales performance, deteriorating liquidity, and looming maturities.”
By Ben Unglesbee • Aug. 23, 2022 -
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 -
Daphne Howland/Retail Dive
Bed Bath & Beyond taps Kirkland & Ellis for debt help: Bloomberg
The retailer is addressing its balance sheet as it manages flagging sales and a seemingly endless turnaround.
By Ben Unglesbee • Aug. 19, 2022 -
Ben Unglesbee/Retail Dive
Sears Holdings reaches $175M settlement with Lampert and company
The retailer entered bankruptcy in 2018. It has been stuck there ever since, as the company and its creditors pursued claims of “rank” self-dealing.
By Ben Unglesbee • Aug. 11, 2022 -
Revlon CFO to retire as sales continue shrinking in bankruptcy
The company’s losses have also ballooned, in part because of the high cost of Chapter 11.
By Ben Unglesbee • Aug. 10, 2022 -
Courtesy of Stitch Fix
Retail disruptors are turning to layoffs to cut costs and restructure
New companies have grown rapidly by leveraging consumer trends during the pandemic. Now, they’re paying the price amid an economic downturn.
By Dani James • Aug. 9, 2022 -
Ben Unglesbee/Retail Dive
ColumnThis is the last Sears for hundreds of miles. What can it tell us about the state of malls?
The department store in Maryland is sparsely merchandised and low on traffic. Senior Reporter Ben Unglesbee takes a look inside to see how retail has changed since the heyday of malls.
By Ben Unglesbee • Aug. 1, 2022 -
Courtesy of CriticalPoint Capital
Olympia Sports is shutting down its stores
Owned by private equity firm CriticalPoint Capital, the Maine-based retailer is holding liquidation sales at all locations.
By Cara Salpini • July 29, 2022 -
Revlon gets court OK on $15.4M bonus plan for 'critical' employees
In bankruptcy, the cosmetics giant is trying to retain staff it says are critical to operations after recent years of stress and turmoil.
By Ben Unglesbee • July 27, 2022 -
Daphne Howland/Retail Dive
Bed Bath & Beyond downgraded by Moody's amid 'steep decline' in sales
The agency updated the retailer’s coporate rating following the departure of its CEO and chief merchandising officer late last month.
By Caroline Jansen • July 21, 2022 -
Cara Salpini/Retail Dive
Bath & Body Works girds for sales, profit decline in 2022
Traffic is falling at the retailer, and lower income consumers are tightening spending as they wrestle with inflation.
By Ben Unglesbee • July 20, 2022 -
Courtesy of Business Wire
Michaels downgraded as costs, consumer shifts add pressure
A little over a year after being taken over by private equity, the retailer is pressed by high supply chain costs and tighter consumer spending.
By Ben Unglesbee • July 14, 2022 -
Default risk rises amid consumer pullback and tougher funding environment: S&P
Analysts said “inflation, energy security, geopolitical uncertainty, and rapidly tightening financing conditions are increasingly putting pressure on issuers.”
By Ben Unglesbee • July 7, 2022 -
Courtesy of Rite Aid
Rite Aid tries to ease debt load and boost profits
The drugstore retailer bought back some of its bonds early in a distressed exchange and plans to close 145 stores as it tries to control costs.
By Ben Unglesbee • July 6, 2022 -
Courtesy of Enjoy Technology
Enjoy Technology says it has a prospective buyer that would keep it alive
Asurion, which insures and repairs consumer electronics, has emerged as lender, prospective buyer and future operator of the bankrupt Enjoy.
By Ben Unglesbee • July 1, 2022 -
Daphne Howland/Retail Dive
Ace Hardware shuts down The Grommet, lays off 44
The hardware retailer’s co-op structure made it difficult to expand the platform, according to founder Jules Pieri, who announced the closure on LinkedIn.
By Daphne Howland • June 30, 2022 -
Courtesy of Enjoy Technology
Enjoy Technology to 'pause' on selling Apple products
The cash-strained company said it is halting its “commerce-at-home” services for the tech maker to focus on business priorities.
By Ben Unglesbee • June 29, 2022 -
Courtesy of Enjoy Technology
Ron Johnson's Enjoy Technology wants to create a new form of retail. But first it must survive.
The former J.C. Penney CEO has built out a fleet of mobile stores to bring the shopping experience to homes. Its losses are mounting, though, and cash is running out.
By Ben Unglesbee • June 17, 2022 -
Astrid Stawiarz / Stringer via Getty Images
ColumnThe Weekly Closeout: Deckers' COO steps down and Swarovski names CEO
David Lafitte exited the footwear retailer to pursue another opportunity, while the jewelry brand appointed its first chief outside of the founding family.
By Retail Dive Staff • June 17, 2022 -
Revlon files for bankruptcy as debt, supply challenges take a toll
After years of hemorrhaging cash, the cosmetics brand aims to reorganize and cut its debt load in Chapter 11.
By Ben Unglesbee • June 16, 2022 -
Revlon reportedly preparing for bankruptcy
The beauty giant has long suffered under billions of dollars in debt, while the pandemic exacerbated its financial struggles.
By Ben Unglesbee • June 13, 2022 -
Courtesy of Enjoy Technology
Another Enjoy Technology CFO out as it faces cash crisis
The commerce-at-home company — led by former J.C. Penney CEO Ron Johnson — can't keep up with its spiraling costs.
By Ben Unglesbee • June 2, 2022 -
Courtesy of Triple Five Worldwide
American Dream lost $60M last year
On top of the pandemic's challenges, the sprawling, experience-rich, debt-ridden mall has been beset by several delays and mishaps.
By Daphne Howland • May 4, 2022 -
Courtesy of REI
ColumnThe Weekly Closeout: REI expands run assortment and Farfetch enters beauty
The outdoors retailer will also improve employee training in the category. Meanwhile, the luxury platform will offer a "curated edit" of beauty items.
By Retail Dive Staff • April 22, 2022 -
Courtesy of Rite Aid
Rite Aid guidance could signal its ability to survive: analyst
The drugstore chain's losses have expanded, and it could face a decline in spending related to COVID-19.
By Ben Unglesbee • April 13, 2022
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