Distressed Retail

J.C. Penney cuts 650 jobs under new owners

The layoffs came after an operational review by Simon Property Group and Brookfield Asset Management. 

By Ben Unglesbee • May 06, 2021

David's Bridal takes on $70M loan as it preps for the return of weddings

After last year's slump in ceremonies, the retailer is raising capital to speed up its growth and ride the anticipated wave as couples return to the aisle. 

By Ben Unglesbee • May 04, 2021

Deep Dive

What's next for Destination XL after last year's calamity in menswear?

The big-and-tall specialist's sales shrank by nearly a third in 2020 as offices went dark and events were nixed. Executives discuss how they navigated the turmoil.

By Ben Unglesbee • May 04, 2021

The husk of Sears Holdings is still in bankruptcy — and $81M in the hole

After a massively expensive Ch. 11, what's left of the company doesn't have enough cash to pay its professionals and outstanding vendor claims.

By Ben Unglesbee • April 28, 2021

Hardest hit: Who is still at risk after last year's retail tribulations?

Party City, Nordstrom, Macy's, GameStop and others still have weak scores on measures of financial health, according to RapidRatings data.

By Ben Unglesbee • April 13, 2021

Tailored Brands left bankruptcy and quickly unravelled. What's next?

The menswear retailer is searching for its footing after running into liquidity problems and legal fights immediately after exiting Ch. 11.

By Ben Unglesbee • April 08, 2021

Retail defaults to decline — but will still be high: Moody's

Bankruptcies hit record highs in 2020. The pace already slowed, but uncertainty remains, and weaker retailers are still vulnerable. 

By Ben Unglesbee • April 08, 2021

Fashion brand owner The Collected Group files for bankruptcy

The owner of Joie, Equipment and Current/Elliott fashion brands is in Chapter 11 after the pandemic wiped out 70% of its biggest revenue channel.

By Ben Unglesbee • April 06, 2021

Months out of bankruptcy, Neiman Marcus refinances $1.1B in debt

The luxury retailer kicked out maturities and reduced interest expenses as it tries to find its footing in a changed sector. 

By Ben Unglesbee • March 31, 2021

Banks reportedly seize equity stake in Mall of America

Triple Five Group is handing over stock in the megamall to lenders after defaulting on the American Dream project. 

By Ben Unglesbee • March 29, 2021

Destination XL gets $17.5M lifeline

Listed by S&P as among the most vulnerable in retail, the men's apparel seller might have dodged bankruptcy with the capital infusion.  

By Ben Unglesbee • UPDATED: March 24, 2021 at 10:34 a.m.

Tailored Brands' emergency loan gets court sign-off

A minority group of shareholders scrutinized the terms of $75 million in financing just months after the retailer emerged from bankruptcy. 

By Ben Unglesbee • UPDATED: April 5, 2021 at 11:06 a.m.

Toys R Us parent sells controlling stake to owner of Anne Klein, Joseph Abboud brands

WHP Global is taking over management of the famous toy retail brand with an eye on global growth, not long after Tru Kids closed its only two U.S. stores.

By Ben Unglesbee • March 15, 2021

Christopher & Banks CEO is out following brand's acquisition in Ch. 11

Keri Jones resigned as the apparel seller gets a second life as a digital and television brand through a partnership with iMedia Brands. 

By Ben Unglesbee • March 12, 2021

Former Art Van employees win $2M hardship fund from private equity firm

Workers have been pushing for compensation from the liquidated retailer's former owner.

By Ben Unglesbee • March 11, 2021

Deep Dive

Welcome to the lucrative world of retail bankruptcy

A look at the most expensive Chapter 11 proceedings in retail and the players that have profited from them.

By Ben Unglesbee • March 08, 2021

Tailored Brands seeks $75M lifeline just months after exiting Ch. 11

The owner of Men's Wearhouse is nearing a loan deal as the pandemic continues to weigh on apparel, according to court documents.

By Ben Unglesbee • March 03, 2021

Paper Source files for bankruptcy with plans to sell itself

A year ago, the retailer acquired 30 stores from Papyrus as that gift seller was liquidating. And then the COVID-19 pandemic derailed its growth.

By Ben Unglesbee • March 02, 2021

Belk exits bankruptcy a day after filing for Chapter 11

The department store retailer won speedy approval of a restructuring plan that allowed it to drop $450 million in debt.

By Ben Unglesbee • UPDATED: Feb. 25, 2021 at 9:55 a.m.

Fry's Electronics abruptly goes out of business, closes stores

The retailer cited a changing industry and the impact of COVID-19 as reasons for closing its doors after nearly four decades. 

By Kaarin Vembar • Feb. 24, 2021

Tuesday Morning, Casper, Vince on S&P's latest 'most vulnerable retailers' list

The list includes both traditional brick-and-mortar retailers and digital specialists, which face different sets of financial challenges. 

By Ben Unglesbee • Feb. 22, 2021

The running list of 2021 retail bankruptcies

The Collected Group filed for Chapter 11 aiming to reduce debt, complete its brick-and-mortar wind-down and restructure around its e-commerce business and wholesale.

By Nami Sumida • UPDATED: March 3, 2021 at 10:12 a.m.

GNC names new CEO and CFO

Following its acquisition in bankruptcy last year, the retailer has promoted two executives to top positions as it looks to grow and adapt to a new environment.

By Ben Unglesbee • Feb. 12, 2021

Fearing store closures, mall landlords raise alarm about Sycamore's new version of Ascena

Simon Property Group claimed the recently created retail entity, which includes Ann Taylor and Lane Bryant, is a riskier venture than originally projected.

By Ben Unglesbee • Feb. 05, 2021

Sears is closing 13 more stores, further shrinking its footprint

The once-storied retailer is running low on stores to close, yet its extended liquidation never seems to end.

By Ben Unglesbee • Feb. 04, 2021