Distressed Retail: Page 3
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Daphne Howland/Retail Dive
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 Daphne Howland • May 9, 2024 -
Kaarin Vembar/Retail Dive
Foxtrot’s assets to be sold this week
Friday’s foreclosure sale will include “substantially all of the assets” of the c-store retailer, including inventory, intellectual property, documents and more.
By Brett Dworski • May 8, 2024 -
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 -
Astrid Stawiarz via Getty Images
Ted Baker says North America bankruptcy due in part to failures by Authentic’s Europe and UK operators
The retailer said in court documents that suppliers were not paid, leading to shipment delays, order cancellations and merchandise shortages.
By Lara Ewen • May 6, 2024 -
In its third bankruptcy, Rue21 plans to shutter all locations
The apparel retailer massively downsized as it emerged from Chapter 11 in 2017. This time more than 540 stores will close for good.
By Daphne Howland • May 3, 2024 -
Nate Delesline III/Retail Dive
Music retailer Sam Ash to close all stores
The retailer, which has been in operation for 100 years, began store closing sales on Thursday.
By Nate Delesline III • May 3, 2024 -
Cara Salpini/Retail Dive
Over 45K retail stores may close in next 5 years: UBS
E-commerce penetration is expected to rise, helped in part by third-party players like Temu and Shein, according to a new report.
By Nate Delesline III • April 29, 2024 -
Courtesy of Joann
Joann to exit bankruptcy ‘in the coming days’ as reorganization plan gets court OK
The craft retailer expects to cut $505 million in debt and emerge from bankruptcy as a privately held company.
By Nate Delesline III • April 26, 2024 -
Courtesy of Pirch
High-end appliance retailer Pirch to liquidate in bankruptcy
The company faces lawsuits from customers and vendors, including one from American Express alleging potential fraud.
By Daphne Howland • April 23, 2024 -
Permission granted by Express
Express files Chapter 11, plans to close over 100 stores
All of the company’s UpWest stores will shutter as the retailer pursues a sale to WHP Global, Simon Property Group and Brookfield Properties.
By Nate Delesline III • April 22, 2024 -
Dollar Tree poised to gain most as 99 Cents Only disappears
Despite the bankrupt discounter’s small footprint, its store closures offer a meaningful opportunity for rivals to grab share, analysts say.
By Daphne Howland • April 18, 2024 -
Roger Hornback via Getty Images
99 Cents Only files for Chapter 11
The bankruptcy filing comes just days after the discount retailer announced plans to liquidate and close all stores.
By Nate Delesline III • April 8, 2024 -
(2007). Retrieved from Wikimedia Commons.
99 Cents Only to liquidate
The company’s small footprint left it unable to compete with larger rivals in a tough macroeconomic environment, according to industry experts.
By Nate Delesline III • April 5, 2024 -
Courtesy of Puma
ColumnThe Weekly Closeout: Puma plots design space in LA, Bank of America downgrades Figs
The athletics brand said the studio will open in 2025, while spending pullbacks contributed to the scrubs brand’s recent negative rating.
By Retail Dive Staff • April 5, 2024 -
sabthai via Getty Images
Shoes for Crews files for Chapter 11 bankruptcy
The non-slip shoe company secured $30 million in debtor-in-possession financing and intends to sell the business.
By Nate Delesline III • April 4, 2024 -
Courtesy of Instant Brands
Instant Pot, now a stand-alone company, appoints new leadership
Under different ownership after last year’s bankruptcy, the popular multicooker is no longer part of the appliance conglomerate that owns Pyrex and Corelle.
By Daphne Howland • April 2, 2024 -
Daphne Howland/Retail Dive
GameStop cuts undisclosed number of jobs as Q4, full-year sales fall
As pressure mounts on the sector from declining hardware sales and rising streaming subscriptions, analysts question the retailer’s long-term survival.
By Nate Delesline III • March 27, 2024 -
Courtesy of Joann
Joann files for Chapter 11 with a plan to cut $500M in debt
Thanks to an agreement with lenders, stores will be open and vendors paid throughout the bankruptcy process, which could be completed next month.
By Daphne Howland , Nate Delesline III • March 18, 2024 -
Daphne Howland/Retail Dive
The Body Shop’s US operation forced into liquidation as UK parent takes its cash
The U.S. subsidiary ceased operating as of March 1 and told a bankruptcy court it didn’t get advance notice of its British owner's restructuring.
By Daphne Howland • March 12, 2024 -
Spencer Platt via Getty Images
New York Stock Exchange moves to delist apparel retailer Express
Concerns about the company’s long-term financial health have continued to surface over the last year.
By Nate Delesline III • March 8, 2024 -
Courtesy of The Container Store
S&P downgrades The Container Store, citing ‘weak operating performance’
Plaguing the retailer are persistent sales declines, nearing debt maturities, consumer headwinds and negative free cash flow.
By Cara Salpini • March 5, 2024 -
Kaarin Vembar/Retail Dive
As Macy’s and others close stores, TJX is picking up the supplier base
With big brand brick-and-mortar options dwindling, the off-brand retailer’s 21,000 vendors are increasingly looking to the company.
By Ben Unglesbee • March 1, 2024 -
Courtesy of Zulily
Zulily IP assets put up for sale
The sale includes customer data, domain names, over 200 trademarks and code for the brand’s proprietary app.
By Tatiana Walk-Morris • Feb. 28, 2024 -
Courtesy of Express Inc.
Express CEO seeks to ease bankruptcy concerns
In a memo on Wednesday, Stewart Glendinning said the apparel retailer is awaiting a $52 million CARES Act payment to help with long-term liquidity.
By Nate Delesline III • Feb. 15, 2024 -
The Children’s Place may get a reprieve as investor takes majority stake
Mithaq Capital has taken a 54% share, will nominate 11 people to the apparel retailer's board, and has offered to help shore up its liquidity.
By Daphne Howland • Feb. 15, 2024 -
11 digitally native retailers that could file for bankruptcy in 2024
While off to a slower start than 2023, filings are expected to continue in the industry, especially among many direct-to-consumer brands.
By Caroline Jansen • Feb. 14, 2024
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