Distressed Retail: Page 3
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Courtesy of Walgreens
Walgreens to lay off over 250 people
The decision regarding the support center roles follows a recent announcement that the pharmacy retailer plans to close 1,200 stores over the next three years.
By Nate Delesline III • Oct. 31, 2024 -
Courtesy of The Container Store
The Container Store could file bankruptcy if Beyond equity deal fails
Despite facing several challenges, turnaround efforts are gaining momentum, CEO Satish Malhotra said.
By Nate Delesline III • Oct. 30, 2024 -
Andreas Rentz via Getty Images
Esprit US subsidiaries file for bankruptcy
The Chapter 7 notices come in the wake of more than a dozen similar filings from Esprit Holdings affiliates around the world.
By Lara Ewen • Oct. 30, 2024 -
Brett Dworski/Retail Dive
5 retail horror stories of 2024
From Youthforia’s problematic foundation shade range to Foxtrot’s abrupt shuttering, retailers have been the subject of some scary stories.
By Caroline Jansen • Oct. 29, 2024 -
Courtesy of Tupperware
Lender group to buy Tupperware out of bankruptcy
The lenders, which include Stonehill Capital Management Partners and Alden Global Capital, are offering $63.8 million in debt relief and about $23.5 million in cash.
By Nate Delesline III • Oct. 23, 2024 -
Permission granted by BuyBuy Baby
BuyBuy Baby to close all stores less than a year after relaunch
The company said the move will allow it to transform "into a digital-first brand, focusing all our energy on providing an exceptional online shopping experience."
By Nate Delesline III • Oct. 18, 2024 -
Permission granted by True Value
True Value files for Chapter 11
The 75-year-old brand, whose stores are largely excluded from the bankruptcy, is seeking court approval to sell itself to rival Do it Best for $153 million.
By Nate Delesline III • Oct. 15, 2024 -
Cara Salpini/Retail Dive
Iconic outdoor retailer Orvis will lay off 8% of workforce, close stores
The 170-year-old Vermont-based retailer, known for its workwear and fishing gear, will also trim its assortment and drop its famous catalog.
By Daphne Howland • Oct. 9, 2024 -
Nate Delesline III/Retail Dive
Party City cuts prices on 2K items ahead of the holidays
The celebrations and events retailer said it’s responding to consumers, who continue to feel budgetary pressure.
By Nate Delesline III • Sept. 27, 2024 -
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
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