Distressed Retail: Page 3
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Permission granted by Hilco
Salt Life retail stores to close in bankruptcy
The beach brand will pivot to a new business model focused on e-commerce and wholesale as liquidation sales at 28 stores begin.
By Nate Delesline III • Sept. 25, 2024 -
Kaarin Moore/Retail Dive
Tupperware files for bankruptcy amid lender opposition
The iconic housewares brand, famous for its direct-sales parties, has been slow to adapt to e-commerce and omnichannel retail.
By Daphne Howland • Sept. 18, 2024 -
Courtesy of Big Lots
Big Lots gets court OK for $550M in bankruptcy financing
The funding will allow the bargain-focused retailer to continue normal operations, including paying employees and vendors.
By Nate Delesline III • Sept. 12, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
Private equity firm sweeps up LL Flooring, which will stay in business after all
The bankrupt home improvement company, previously Lumber Liquidators, has inked a deal to be acquired by F9 Investments, its largest shareholder.
By Daphne Howland • Sept. 9, 2024 -
Nate Delesline III/Retail Dive
Inside a closing Sam Ash Music store
The family-run company filed for Chapter 11 bankruptcy in May and the liquidation of its 42 retail stores began. Here’s what that looked like at one location.
By Nate Delesline III • Sept. 9, 2024 -
Nate Delesline III/Retail Dive
Big Lots files for Chapter 11 bankruptcy
The bargain-focused retailer said Nexus Capital Management has offered a $620 million stalking horse bid.
By Nate Delesline III • Sept. 9, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring to liquidate, close all stores after no buyer found
"This is not the outcome that any of us had hoped for," CEO Charles Tyson said in messages to customers and vendors.
By Nate Delesline III • Sept. 6, 2024 -
Courtesy of Rite Aid
Rite Aid exits bankruptcy, sheds $2B in debt
Chief Financial Officer Matt Schroeder will take over the CEO post from restructuring officer Jeffrey Stein.
By Daphne Howland • Sept. 4, 2024 -
Courtesy of Big Lots
Big Lots offers $5.2M in retention bonuses to 4 executives
The move could signal a potential bankruptcy on the horizon, according to Debtwire's global head of legal and restructuring.
By Nate Delesline III • Aug. 27, 2024 -
Duane Prokop via Getty Images
Facing hundreds of talc-related lawsuits, Avon Products files for bankruptcy
Brazilian beauty conglomerate Natura & Co. earlier this year floated plans to separate its Avon business, but said this week that’s now on hold.
By Daphne Howland • Aug. 14, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring files for bankruptcy with plans to close 94 stores
The company is pursuing a sale of its business and said it has a commitment for $130 million in debtor-in-possession financing from existing lenders.
By Nate Delesline III • Aug. 12, 2024 -
Courtesy of Hilco Merchant Resources
UK retailer Mountain Warehouse offers $5M stalking horse bid for Eastern Mountain Sports
Absent a higher offer, the U.K.-based outdoor gear retailer plans to keep less than half of the chain’s stores running.
By Daphne Howland • Aug. 7, 2024 -
Courtesy of Joann
Joann CFO out amid leadership revamp
The crafts retailer, fresh out of bankruptcy, has brought on new executives in tech, operations and merchandising.
By Daphne Howland • July 30, 2024 -
Nate Delesline III/Retail Dive
Is Big Lots’ transformation plan enough to save it?
Analysts say the retailer may face an uphill battle in a crowded sector with strong rivals.
By Nate Delesline III • July 29, 2024 -
Courtesy of Conn's
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 Nate Delesline III • July 24, 2024 -
Courtesy of Conn's
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 Nate Delesline III • July 23, 2024 -
Courtesy of Walgreens
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 Daphne Howland • July 22, 2024 -
Daphne Howland/Retail Dive
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 Daphne Howland • July 17, 2024 -
Brandon Bell via Getty Images
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 -
Scott Olson via Getty Images
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 Stephanie Arnold • July 5, 2024 -
Nate Delesline III/Retail Dive
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 Nate Delesline III • July 3, 2024 -
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 Daphne Howland • July 2, 2024 -
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 Daphne Howland • June 21, 2024 -
Courtesy of Big Lots
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 -
Permission granted by Express
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 Nate Delesline III • June 17, 2024
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