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Financial losses

Levi's sales fall 62% in second quarter, to cut 15% of corporate workforce_CNBC

Levi’s sales fall 62% in second quarter, to cut 15% of corporate workforce

By: Lauren Thomas
Source: CNBC
Date of Publication: July 7th, 2020
Denim maker Levi Strauss & Co.’s sales fell 62% during the second quarter, the company announced Tuesday.
Macy's posts nearly $4 billion in losses, doesn't expect another shutdown

Macy's posts nearly $4 billion in losses, doesn't expect another shutdown

By: Melissa Fares, Nivedita Balu
Source: Reuters
Date of Publication: July 1st, 2020
Macy’s Inc reported a staggering $3.58 billion loss on Wednesday for its coronavirus-hit first quarter as store shutdowns resulted in the department store chain recording a $3 billion impairment charge.
Cirque du Soleil, Las Vegas Strip mainstay, filing for bankruptcy protection amid coronavirus

Cirque du Soleil, Las Vegas Strip mainstay, filing for bankruptcy protection amid coronavirus

By: David Oliver & Dawn Gilbertson
Source: USA Today
Date of Publication: June 29th, 2020
Cirque du Soleil announced Monday it is filing for bankruptcy protection as the coronavirus pandemic continues to rattle the world. The entertainment group is working to "restructure its capital structure," according to a statement. Its application will be heard by the Superior Court of Quebec on Tuesday. Once given this initial order, it will file for Chapter 15 bankruptcy protection in the U.S.
Nike CEO John Donahoe tells employees that layoffs are coming_CNBC

Nike CEO John Donahoe tells employees that layoffs are coming

By: Jessica Golden
Source: CNBC
Date of Publication: June 26th, 2020
On the same day that Nike announced dismal earnings, CEO John Donahoe sent an email to employees warning them that layoffs are coming.
Pandemic takes a bite out of Chuck E. Cheese; chain files for bankruptcy

Pandemic takes a bite out of Chuck E. Cheese; chain files for bankruptcy

By: The Associated Press
Source: The Press-Enterprise
Date of Publication: June 25th, 2020
Chuck E. Cheese – where kids could be kids while parents nursed headaches – is filing for bankruptcy protection.
Pandemic bankruptcies: A running list of retailers that have filed for Chapter 11

Pandemic bankruptcies: A running list of retailers that have filed for Chapter 11

By: Abha Bhattarai
Source: Washington Post
Date of Publication: June 24th, 2020
GNC became the sixth major retailer file for bankruptcy since May, following J. Crew, Neiman Marcus, Stage Stores, J.C. Penney and Tuesday Morning.
24 Hour Fitness files for bankruptcy and closes 100 gyms

24 Hour Fitness files for bankruptcy and closes 100 gyms

By: Jordan Valinsky
Source: CNN Business
Date of Publication: June 15th, 2020
National gym chain 24 Hour Fitness has filed for bankruptcy, after the Covid-19 pandemic forced its facilities shut for months.
Bankrupt Hertz files to sell up to $500 million in stock, with warning they could be 'worthless'

Bankrupt Hertz files to sell up to $500 million in stock, with warning they could be 'worthless'

By: Tomi Kilgore
Source: Market Watch
Date of Publication: June 15th, 2020
Shares of Hertz Global Holdings Inc. HTZ, -13.78% plunged 20% in premarket trading Monday, after the bankrupt car rental company filed for the sale up up to $500 million worth of common stock. The filing comes after Hertz received approval on Friday from a bankruptcy court to sell up to $1 billion in stock. The company warned in the filing that because the company is bankrupt, the common stock could be rendered "worthless."
BP warns of $17.5 billion hit as pandemic accelerates move away from oil

BP warns of $17.5 billion hit as pandemic accelerates move away from oil

By: Hanna Ziady
Source: CNN Business
Date of Publication: June 15th, 2020
BP is writing down the value of its assets by as much as $17.5 billion as a shift away from fossil fuels is accelerated by the coronavirus pandemic.
Wall Street set to drop at open after spike in new virus cases

Wall Street set to drop at open after spike in new virus cases

By: Devik Jain, Medha Singh
Source: Reuters
Date of Publication: June 15th, 2020
Wall Street was set to drop sharply at the open on Monday as a recent jump in coronavirus cases in China and parts of the United States dashed investor hopes of a quick economic rebound that had powered the Nasdaq to record levels last week.