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Bankruptcy

U.S. commercial bankruptcies up 33% year to date

U.S. commercial bankruptcies up 33% year to date

Source: Reuters
Date of Publication: October 5th, 2020
U.S. commercial bankruptcy filings are up 33% so far this year with new cases in September surging by 78% from a year earlier as the recession triggered by the COVID-19 pandemic hits small businesses, data released on Monday showed.
Americans Keep Spending, but Growth of Retail Sales Slows - The New York Times

Americans Keep Spending, but Growth of Retail Sales Slows

By: Michael Corkery and Sapna Maheshwari
Source: The New York Times
Date of Publication: September 16th, 2020
Retail sales climbed 0.6 percent in August, but the increase was smaller than in previous months, prompting concerns of a recovery that is running out of steam.
Why GNC filed for bankruptcy protection despite vitamin sales boom

Why GNC filed for bankruptcy protection despite vitamin sales boom

By: Shawn Baldwin
Source: CNBC
Date of Publication: September 17th, 2020
From New England to Southern California, chances are if you ever needed a potassium boost, there was a GNC at a nearby mall. But the company that urged Americans to “Live Well” has fallen on tough times. In June, GNC filed for protection from creditors in bankruptcy court, with plans to close about 1,000 locations — more than 10% of its global footprint.
Simon, Brookfield to save JC Penney from bankruptcy, keep 650 shops

Mall owners Simon, Brookfield set to rescue JC Penney from bankruptcy in $800 million deal

By: Lauren Thomas
Source: CNBC
Date of Publication: September 9th, 2020
U.S. mall owners Simon and Brookfield are close to finalizing an $800 million deal to rescue J.C. Penney from bankruptcy.
Coronavirus: U.S. department stores could be in their 'last stages'

America’s department stores, cornerstones in fashion, could be in their ‘last stages’

By: Lauren Thomas
Source: CNBC
Date of Publication: September 1st, 2020
The coronavirus pandemic is shining a light on U.S. department stores’ dependence on selling fashion and their delay in adapting to today’s retail environment.
Stein Mart files for bankruptcy and plans to close most, if not all, of its stores

Stein Mart files for bankruptcy and plans to close most, if not all, of its stores

By: Lauren Thomas
Source: CNBC
Date of Publication: August 12th, 2020
The off-price retailer Stein Mart has filed for Chapter 11 bankruptcy protection and plans to shutter most of its stores.
Stein Mart operates 281 stores across 30 states in the U.S., according to its website.
The biggest US mall owner Simon says still looking to salvage other distressed retailers

The biggest US mall owner Simon says still looking to salvage other distressed retailers

By: Lauren Thomas
Source: CNBC
Date of Publication: August 10th, 2020
Simon Property Group Chief Executive David Simon said Monday that the company is still looking to salvage additional distressed retailers, having already made bids for bankrupted Lucky Brand, Brooks Brothers and J.C. Penney.
Virgin Atlantic airline files for US bankruptcy protection

Virgin Atlantic airline files for US bankruptcy protection

Source: Associated Press
Date of Publication: August 4th, 2020
Virgin Atlantic, the airline founded by British businessman Richard Branson, filed Tuesday for protection in U.S. bankruptcy court as it tries to survive the virus pandemic that is hammering the airline industry.
J.C. Penney's survival hinges on urgent sale negotiations

J.C. Penney's survival hinges on urgent sale negotiations

By: Mike Spector
Source: Reuters
Date of Publication: August 3rd, 2020
The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors.
Tailored Brands files for bankruptcy as pandemic hammers sales

Tailored Brands files for bankruptcy as pandemic hammers sales

Source: Reuters
Date of Publication: August 2nd, 2020
Men’s Wearhouse owner Tailored Brands filed for bankruptcy on Sunday, adding to a list of brick-and-mortar retailers that have succumbed to the economic fallout from the COVID-19 crisis.