Distressed Retail

Citing COVID-19, mall REIT Washington Prime Group lands in bankruptcy court

But like most of the retailers filing under Chapter 11 in the past several months, the company's woes predate the pandemic.

By Daphne Howland • June 14, 2021

Iconix Brands to be acquired by private equity firm

Lancer Capital has agreed to buy the brand aggregator, which has been searching for a solution to its debt load for years. 

By Ben Unglesbee • June 14, 2021

Alex and Ani files for bankruptcy, hoping for a sale

Leadership turmoil and significant debt were hobbling the charm bracelet maker. Then last year came a ransomware attack and the pandemic.

By Daphne Howland • June 10, 2021

J. Jill rebounds from pandemic doldrums with 42% sales growth

Sales, margins and operating profit are up big time at the women's apparel seller, which had a close brush with bankruptcy last year. 

By Ben Unglesbee • June 09, 2021

Deep Dive

Is the never-ending Sears saga finally reaching its closing chapters?

Most of what is left of the one-time empire is a footprint smaller than many regional retailers, and a whole lot of legal bills.

By Ben Unglesbee • June 01, 2021

Turmoil at Sequential Brands amid late financials, strategic review

Since the fall, the company has lost a CEO and an executive chairman, and has tried to sell off assets while struggling to pay its debts.

By Ben Unglesbee • May 28, 2021

Podcast

The Backroom: A former Blockbuster insider chronicles its many blunders

If you think Blockbuster is merely a story about technology, take a second look. Former franchisee Alan Payne discusses its long-deteriorating operations. 

By Ben Unglesbee • May 27, 2021

Authentic Brands eyeing possible IPO: Bloomberg

A possible deal to go public could fetch a $10 billion value for the company as it buys up retail brands out of bankruptcy and distress.

By Ben Unglesbee • May 25, 2021

Tuesday Morning returning to Nasdaq after delisting

The off-price retailer is back on a major market after its Chapter 11 and restructuring, and is projecting optimism about the future. 

By Ben Unglesbee • May 24, 2021

Seeking a post-bankruptcy rebound, Tuesday Morning adds former Burlington execs to C-suite

The off-price retailer brought in Fred Hand as CEO and Marc Katz as interm CFO as it tries to stabalize and grow in the sector. 

By Ben Unglesbee • May 21, 2021

Centric Brands adds to exec ranks, board as it eyes post-bankruptcy growth

The licensing specialist has brought in a former Pandora executive and past president of Lord & Taylor to help lead it in a new era. 

By Ben Unglesbee • May 12, 2021

Paper Source to be acquired in Ch. 11 by owner of Barnes & Noble

Elliott Investment Management emerged as the successful bidder for the gift specialist and sees it as "highly complementary" to the book retailer.

By Ben Unglesbee • May 11, 2021

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

The Collected Group exits bankruptcy

The owner Joie, Equipment and Current/Elliott is looking to grow its digital and wholesale business after stumbling in the pandemic.

By Ben Unglesbee • UPDATED: June 7, 2021 at 10:15 a.m.

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