Flywheel Sports files for bankruptcy, plans to shut down

Spinning gym chain Flywheel Sports has filed for bankruptcy with plans to shut down its business, making it the latest victim of the coronavirus pandemic. Flywheel — known for its intense, bicycle-based classes — submitted a bankruptcy petition this week under Chapter 7 of the US bankruptcy code, which companies use to sell off their […]

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New York Sports Clubs’ owner files for bankruptcy after forced gym closures

Town Sports International, the owner of New York Sports Clubs, filed for Chapter 11 bankruptcy on Monday after the coronavirus pandemic forced its gyms to close and caused revenue to dry up. The company’s assets and liabilities were in the range of $500 million to $1 billion, according to a court filing in the US […]

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Ailing J.C. Penney waits to be rescued as sale talks stall

J.C. Penney’s talks with landlords for a rescue from bankruptcy proceedings reached an impasse, pushing the department store to the brink of collapse unless it can reach a deal within days to be taken over by lenders. Discussions between the Plano, Texas-based retailer and a duo of mall owners Simon Property Group and Brookfield Property […]

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Bankrupt Alaska airline seeks bonus for its chief executive

The largest rural airline in Alaska has declared bankruptcy and laid off more than 1,000 workers but wants $250,000 in bonuses to be awarded to its chief executive and other employees By The Associated Press August 13, 2020, 9:24 PM 2 min read Share to FacebookShare to TwitterEmail this article ANCHORAGE, Alaska — The largest […]

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Stein Mart files for bankruptcy; to close nearly 300 stores

National discount department store chain Stein Mart is filing for bankruptcy and will close most, if not all, of its stores By TAMARA LUSH Associated Press August 12, 2020, 10:03 PM 2 min read Share to FacebookShare to TwitterEmail this article ST. PETERSBURG, Fla. — National discount department store chain Stein Mart filed for bankruptcy […]

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Brooks Brothers to be sold for $325 million after buyer hikes offer

Brooks Brothers will likely be sold out of bankruptcy for $325 million this week after the storied retailer’s leading suitor hiked its offer by $20 million. The New York-based clothier picked Sparc Group LLC — a partnership between mall owner Simon Property Group and brand-licensing firm Authentic Brands Group — as its winning buyer late […]

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Sycamore Partners’ bid for bankrupt JCPenney opposed by workers’ group

Sycamore Partners should not be allowed to buy JCPenney out of bankruptcy because of its long history of closing stores and decimating jobs, a worker advocacy group said Tuesday. A group of current and former retail workers from Toys ‘R’ Us, Kmart, Sears and other bankrupt retailers are sounding the alarm about the Big Apple-based […]

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US retailers that have sought bankruptcy protection in 2020

Retailers that have sought bankruptcy protection in 2020 range from those selling inexpensive and off-brand goods, to chichi names that have catered to the well-off for more than a century By The Associated Press August 3, 2020, 5:25 PM 2 min read Share to FacebookShare to TwitterEmail this article Following is a list of retailers […]

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Men’s Wearhouse files for bankruptcy as men sport sweats over suits

Suit retailer Men’s Wearhouse filed for bankruptcy on Sunday as the coronavirus has kept millions of office workers at home and in lounge pants. Parent company Tailored Brands, which also owns Jos A. Bank, filed for Chapter 11 protection in Houston, Tex., after reaching a deal with a majority of its lenders to keep 1,400 […]

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Lord & Taylor files for Chapter 11 bankruptcy

Lord & Taylor, the oldest department store in the US, has become the latest retailer to file for bankruptcy protection. The nearly 200 year-old chain, which got its start in 1826 as a dry-goods store in Manhattan’s Lower East Side, said in a Sunday bankruptcy filing was pushed over the edge by the “unprecedented strain” […]

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Retail rout gains pace, Lord & Taylor seeks bankruptcy

Lord & Taylor is seeking bankruptcy protection, as is the owner of Men’s Wearhouse and Jos By The Associated Press August 3, 2020, 12:45 PM 2 min read Share to FacebookShare to TwitterEmail this article NEW YORK — Lord & Taylor, America’s oldest retailer, is seeking bankruptcy protection, as is the owner of Men’s Wearhouse […]

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Lord & Taylor, Men’s Wearhouse owner file for bankruptcy

Landmark New York retailer Lord & Taylor has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic By The Associated Press August 3, 2020, 8:26 AM 2 min read Share to FacebookShare to TwitterEmail this article NEW YORK — Lord & Taylor, one of America’s oldest department stores, has filed […]

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Founder of start-up helping poor erase debt for free: Legal fees block ‘civil right’

Rohan Pavuluri, 24, founder of the start-up Upsolve, lllinois’ largest bankruptcy nonprofit, says “there are millions of low-income and working-class families in America that cannot access the legal rights they’re guaranteed,” | Pat Nabong/Sun-Times Rohan Pavuluri was a law school-bound college sophomore when he learned many poverty law remedies are unavailable to the poor because […]

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Remington gunmaker files for second bankruptcy in two years

Remington Outdoor Company, one of America’s oldest gunmakers, has declared bankruptcy for the second time in about as many years with plans to sell its business. The 204-year-old firearms conglomerate continued to struggle with weak sales after a 2018 restructuring that slimmed down its hefty debt load and handed ownership to some of its creditors, […]

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Bankrupt Brooks Brothers offered deal to sell for $305M

A shopping-mall giant and a brand-licensing firm have offered to buy Brooks Brothers out of bankruptcy for $305 million. Sparc Group LLC — a partnership between Authentic Brands Group and Simon Property Group, the nation’s largest mall operator — announced its bid late Thursday to acquire “substantially all” of Brooks Brothers’ global operations along with […]

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Ann Taylor, Lane Bryant owner files for Chapter 11 bankruptcy

The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy protection on Thursday, the latest retailer to do so during the pandemic. Mahwah, New Jersey-based Ascena Retail Group, which operates nearly 3,000 stores mostly at malls, had been dragged down by debt and weak sales for years. As part of its bankruptcy […]

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Company behind Dean & Deluca bankruptcy offers $10M to bring it back

The company that drove Dean & Deluca into bankruptcy is offering $10 million for another shot at running the gourmet grocer, The Post has learned. Thailand-based real estate company, Pace Development, which sunk millions into a failed Dean & Deluca expansion before filing for Chapter 11 bankruptcy protection in April, outlined its plan for a […]

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Fracking Firms Fail, Rewarding Executives and Raising Climate Fears

The day the debt-ridden Texas oil producer MDC Energy filed for bankruptcy eight months ago, a tank at one of its wells was furiously leaking methane, a potent greenhouse gas, into the atmosphere. As of last week, dangerous, invisible gases were still spewing into the air. By one estimate, the company would need more than […]

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Muji files for US bankruptcy in latest coronavirus casualty

Trendy Japanese retailer Muji’s US business filed for bankruptcy Friday, making it the latest corporate casualty of the coronavirus crisis. The minimalist home-goods chain plans to close some unprofitable stores and renegotiate rents in the US after the pandemic forced its 18 American locations to shut down in March, according to its Tokyo-based parent company, […]

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PG&E exits bankruptcy, pays $5 billion into wildfire fund

Pacific Gas & Electric has emerged from a contentious bankruptcy saga that began after its equipment ignited wildfires in California that killed more than 100 people By The Associated Press July 2, 2020, 5:56 PM 2 min read 2 min read SAN FRANCISCO — Pacific Gas & Electric has emerged from a contentious bankruptcy saga […]

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Cirque du Soleil files for bankruptcy in Canada

Cirque du Soleil has filed for bankruptcy in Canada as the coronavirus pandemic shutters its shows around the world, including at the Mandalay Resort & Casino in Las Vegas. Cirque’s Superior Court filing in Montreal says a group of investors led by private equity firm TPG plan to repurchase the company for $420 million. The […]

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Shale-drilling giant Chesapeake Energy files for bankruptcy

Shale-drilling giant Chesapeake Energy filed for bankruptcy to get out from under a mountain of debt as the coronavirus pandemic hammered the energy industry. The Oklahoma City-based company is the biggest American oil and gas company to seek bankruptcy protection amid the COVID-19 crisis, which has kneecapped demand for fuel and caused oil prices to […]

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Remington Arms preps for bankruptcy sale to Navajo Nation

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday. Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out […]

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Chuck E. Cheese parent company files for bankruptcy, another casualty of pandemic

Restaurant chain Chuck E. Cheese parent CEC Entertainment filed for Chapter 11 bankruptcy on Thursday, making it the latest casualty of the COVID-19 pandemic that has crushed entertainment and leisure industries globally. The company described the current crisis as the “most challenging” in its history and said it would use the bankruptcy proceedings to continue […]

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GNC files for bankruptcy, shuttering stores as it looks for a buyer

GNC filed for bankruptcy, saying it will shutter more than 15 percent of its stores after state-ordered coronavirus lockdowns crimped sales this spring. The 85 year-old supplements seller — which struggled with sagging sales in recent years, even as it shouldered more than $700 million in debt — said in a Chapter 11 late Tuesday […]

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These Companies Gave Their C.E.O.s Millions — Just Before Bankruptcy

The coronavirus recession is pushing many companies into bankruptcy, a painful process that has led to layoffs, wiped out some investors and hurt the economy. But the chief executives of some of these businesses are doing just fine. Companies that are struggling to pay creditors and suppliers are managing to find millions of dollars to […]

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