Distressed Retail: Page 2

  • A Conn's storefront
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    Courtesy of Conn's
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    Conn’s files for Chapter 11 bankruptcy

    The retailer has started the process of running going-out-of-business sales across its fleet and selling off its assets.

    By • July 24, 2024
  • A Conn's storefront
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    Courtesy of Conn's
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    Conn’s to close over 70 stores amid bankruptcy speculation

    The closures represent about 13% of its store fleet and come amid a Bloomberg report that the home retailer is prepping to file for bankruptcy.

    By • July 23, 2024
  • The entrance to a mall, with a white pickup truck parked to the right. Explore the Trendline➔
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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
  • Walgreens revamps its app.
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    Courtesy of Walgreens
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    S&P Global Ratings downgrades Walgreens, citing struggles in both pharmacy and retail

    The drugstore retailer faces debt maturities, and the upending of some strategies introduces new uncertainties, analysts said.

    By • July 22, 2024
  • External shot of The Body Shop storefront.
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    Daphne Howland/Retail Dive
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    The Body Shop acquired out of UK administration

    Investors including Auréa Group, whose portfolio is centered on DTC beauty brands, will acquire the decades-old retailer for an undisclosed amount.

    By • July 17, 2024
  • A label hangs from a pair of pants. The label reads "Express."
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    Brandon Bell via Getty Images
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    Express bankruptcy spurs layoffs at Ohio facility

    The company's partner, Bath & Body Works Logistics Services, is shrinking its distribution operations for the apparel retailer due to declines in volume.

    By Philip Neuffer • July 8, 2024
  • A large, white building with the words Neiman Marcus on the side stands in a parking lot.
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    Scott Olson via Getty Images
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    Saks Fifth Avenue parent company to acquire Neiman Marcus Group for $2.6B

    The rival companies will continue to operate independently, and the deal is partially funded by e-commerce giant Amazon.

    By • July 5, 2024
  • A Sam Ash Music storefront
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    Nate Delesline III/Retail Dive
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    Sam Ash assets acquired for $15.2M

    Mexican company Gonher is purchasing “substantially all” of its assets, following the music retailer's Chapter 11 bankruptcy in May.

    By • July 3, 2024
  • White puffy clouds against a blue sky, behind a store with a blue and white banner.
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    "Bob's Stores" by Mike Mozart is licensed under CC BY 2.0
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    All Bob’s Stores locations to close

    The retailer was unable to secure the financing necessary to keep operating. The fate of sibling Eastern Mountain Sports remains unclear.

    By • July 2, 2024
  • White puffy clouds against a blue sky, behind a store with a blue and white banner.
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    "Bob's Stores" by Mike Mozart is licensed under CC BY 2.0
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    Eastern Mountain Sports, Bob’s Stores file for bankruptcy

    The chains, in a “liquidity crisis” since their bank found them to be in default, required emergency funding to make payroll Friday.

    By • June 21, 2024
  • Big Lots to remain open on Thanksgiving.
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    Courtesy of Big Lots
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    Column

    The Weekly Closeout: Big Lots issues ‘going concern’ warning and Amazon ditches plastic air pillow packaging

    The discount retailer said it may not meet its credit and term loan obligations, while Amazon aims to drop plastic air pillows in North American shipments by the holidays.

    By Retail Dive Staff • June 21, 2024
  • An Express storefront at King of Prussia mall in Pennsylvania
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    Permission granted by Express
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    Express, Bonobos bought out of bankruptcy for $174M

    A newly formed joint venture between WHP Global and mall owners Simon, Brookfield and Centennial will keep 450 stores open and 7,000 jobs intact.

    By • June 17, 2024
  • Care/of's Sam's Club offering
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    Courtesy of Care/of
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    Care/of is shutting down

    The vitamin and supplement company said it no longer has the needed funding to operate and has canceled all existing subscriptions.

    By • June 17, 2024
  • A Bed Bath & Beyond location with a "store closing" sign taped across the storefront.
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    Daphne Howland/Retail Dive
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    Ryan Cohen dodges Bed Bath & Beyond shareholder lawsuit

    Claims that the activist investor collected “short-swing” profits, leaving shareholders holding the bag, are moot, a judge ruled Tuesday.

    By • June 12, 2024
  • The interior of a clothing store, with racks of dresses and shirts, and shelves with folded garments.
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    Courtesy of Garnet Hill
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    Qurate faces Nasdaq delisting

    The struggling company, which runs home shopping networks QVC and HSN and a small brand portfolio, has until Dec. 9 to regain share price compliance.

    By • June 11, 2024
  • Foxtrot
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    Brett Dworski/Retail Dive
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    Q&A

    Foxtrot founder talks retailer’s struggles, resurgence and growth plans

    Mike LaVitola is back in the driver seat and plans to reopen 15 stores this year. He discussed what led to the company's demise, where stores will open and more.

    By Brett Dworski • June 11, 2024
  • A bright-red mall entrance to a clothing store.
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    Daphne Howland/Retail Dive
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    Landlords close in on acquisition of Express

    With private equity-backed WHP Global, Brookfield and Simon Property Group have put up a stalking horse bid of some $160 million in cash and $38 million in assumed liabilities.

    By • June 7, 2024
  • A 3-D art display of Hello Kitty atop a Claire's store for the character's 50th anniversary.
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    Courtesy of Claire's, Hello Kitty
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    Column

    The Weekly Closeout: Kirkland’s explores strategic alternatives as Claire’s celebrates Hello Kitty

    The home retailer is also instituting a cost-savings plan as sales fell 5% in Q1. Meanwhile, the tween brand is honoring the iconic character’s 50th anniversary.

    By Retail Dive Staff • June 7, 2024
  • The exterior of a newly constructed Dollar Tree store with the company's signature green color scheme with a blue sky
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    Nate Delesline/Retail Dive
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    Dollar Tree acquires 99 Cents Only’s North American IP

    The retailer also bought up the rights to 170 store leases, with plans to rebrand and reopen them “as early as fall 2024.”

    By • May 30, 2024
  • A Dollar General storefront at dawn or dusk with an empty parking lot
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    Permission granted by Dollar General
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    Column

    The Weekly Closeout: Dollar General taps store operations exec as PetSmart searches for a chief toy tester

    Lee DeVille will lead operations for three of the discounter’s retail divisions. But the pet retailer’s new role requires a furrier candidate.

    By Retail Dive Staff • May 17, 2024
  • foxtrot
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    Retrieved from Foxtrot website.
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    Foxtrot files for bankruptcy

    The decision to file for Chapter 7 was made during a meeting with Outfox’s board of directors late last month.

    By Brett Dworski • May 16, 2024
  • An American Girl Doll and KidKraft partnership of a doll house.
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    Courtesy of KidKraft
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    KidKraft files for Chapter 11 bankruptcy

    The toy company plans to sell all of its U.S. and Canadian assets to Backyard Products. 

    By Tatiana Walk-Morris • May 13, 2024
  • A Bed Bath & Beyond label scar is seen on a beige storefront with a blue sky.
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    Nate Delesline III/Retail Dive
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    Former Bed Bath & Beyond sues Hudson Bay investors for $300M

    The lawsuit states that the hedge fund reaped a short-swing profit weeks before the retailer's bankruptcy. Hudson Bay disputes the claims.

    By • May 13, 2024
  • Korn wearing the Korn Adidas collection.
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    Courtesy of Adidas
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    The Weekly Closeout: Joann exits bankruptcy while Adidas teams with Korn

    The craft retailer has $153 million in new financing as it goes private and the athletic giant released a follow up to last year's partnership.

    By Retail Dive Staff • May 10, 2024
  • The storefront of Sam Ash Music in Manhattan in New York City
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    The image by By Kazuhisa OTSUBO from Tokyo, Japan CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=69411735 is licensed under CC BY 2.0
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    Music retailer Sam Ash files for Chapter 11 bankruptcy

    The retailer is evaluating a potential sale of its e-commerce operations, related intellectual property and wholesale business.

    By • May 10, 2024
  • A bright-red mall entrance to a clothing store.
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    Daphne Howland/Retail Dive
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    Simon Property Group would put up no capital to buy Express

    That price could explain why the mall REIT is willing to jump back into ownership of retail tenants after scaling back over the past several months.

    By • May 9, 2024