Distressed Retail: Page 3
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Permission granted by Rite Aid
Rite Aid files for Chapter 11 bankruptcy, names new CEO
The pharmacy retailer plans to use bankruptcy to shrink its store footprint and manage a nearly $4 billion debt load.
By Nate Delesline III • Oct. 16, 2023 -
Nate Delesline III/Retail Dive
Party City emerges from bankruptcy, CEO to exit
Brad Weston will step down from the top executive role, while current Chief Commercial Officer Sean Thompson will become the company’s interim.
By Kaarin Vembar • Oct. 13, 2023 -
Trendline
Top 5 stories from Retail Dive
Though some of the problems of the pandemic have waned, retail continues to reel from C-suite turnover and layoffs.
By Retail Dive staff -
Justin Sullivan via Getty Images
Tupperware’s executive vice chair to exit
Richard Goudis plans to resign from the company after about three years once Tupperware files its 2022 annual report.
By Dani James • Oct. 10, 2023 -
Halloween is a $12B business. Why that couldn’t save Party City
The specialty retailer relies heavily on the holiday, but growing participation and spending wasn't enough to spare it from bankruptcy.
By Caroline Jansen • Oct. 10, 2023 -
Permission granted by Showfields
Showfields files for bankruptcy
The department store retailer recently closed two of its stores, in Miami and New York City’s Manhattan borough, but is eyeing expansion elsewhere.
By Dani James • Oct. 9, 2023 -
Permission granted by Rite Aid
Rite Aid faces NYSE delisting
News of the company's possible removal from the New York Stock Exchange follows talks of a possible bankruptcy filing.
By Nate Delesline III • Oct. 5, 2023 -
Permission granted by Instant Brands
Court approves sale of Instant Brands to private equity firm Centre Lane Partners
The maker of popular kitchen brands including Instant Pot, Corelle and Pyrex said the deal would help fix its unsustainable capital structure.
By Kaarin Vembar • Oct. 5, 2023 -
Daphne Howland/Retail Dive
Chapter 11 filings by businesses soar 61% so far this year, report finds
More small businesses and consumers also turned to bankruptcy in the first nine months of 2023, per Epiq and the American Bankruptcy Institute.
By Daphne Howland • Oct. 4, 2023 -
Presley Ann / Stringer via Getty Images
SmileDirectClub files for Chapter 11 bankruptcy
The dental company's financial issues partially stemmed from the COVID-19 pandemic. Now it plans to liquidate if it can't find a buyer.
By Dani James • Oct. 2, 2023 -
Yujin Kim/Retail Dive
Deep Dive11 retailers at risk of bankruptcy in 2023
From Joann and Rite Aid to Petco and The Container Store, here’s who’s most at risk in the next 12 months.
By Cara Salpini • Oct. 2, 2023 -
‘Shock and dismay’: Bankrupt Mitchell Gold has thousands of furniture shipments stuck in logistics limbo
Ryder and other providers are storing millions of dollars worth of products in warehouses as they await payment from a company that is out of cash.
By Ben Unglesbee • Sept. 28, 2023 -
Permission granted by Rite Aid
Rite Aid could close hundreds of stores in possible bankruptcy: WSJ
The drugstore retailer is in negotiations with creditors over a plan that could see nearly a quarter of its stores shutter, The Wall Street Journal reported.
By Nate Delesline III • Sept. 25, 2023 -
Retrieved from Noble House Home Furnishings on September 21, 2023
Furniture-maker Noble House falls into bankruptcy, owes overseas suppliers millions
The company, which sells to some of the largest U.S. retailers, suffered from rising costs and disruptions in its supply chain.
By Ben Unglesbee • Sept. 25, 2023 -
Soft Surroundings files for bankruptcy, will close all stores
Rival Coldwater Creek, which is buying the remaining assets, will sell the women’s apparel brand online and via catalogs.
By Daphne Howland • Sept. 18, 2023 -
Daphne Howland/Retail Dive
Bankruptcy court approves Party City exit plan, slashing nearly $1B in debt
The company specializes in making and selling products for celebrations and took a hit when those fell off during the height of the pandemic.
By Daphne Howland • Sept. 7, 2023 -
David Ryder / Stringer via Getty Images
Amazon brand incubator Benitago files for bankruptcy
The company has faced a reversal in the rapid growth it saw early in the pandemic as consumer trends shifted in the years since.
By Dani James • Sept. 1, 2023 -
Furniture maker Mitchell Gold + Bob Williams shuts down over inability to secure ‘critical financing’
The company, which was acquired by private equity firm The Stephens Group in 2014, closed despite a recent $20 million investment by the firm.
By Nate Delesline III • Aug. 30, 2023 -
Permission granted by Rite Aid
Rite Aid reportedly preparing Chapter 11 bankruptcy filing
A filing could help the retailer restructure $3.3 billion in debt and address a slew of lawsuits alleging it unlawfully filled opioid prescriptions.
By Nate Delesline III • Aug. 28, 2023 -
Spencer Platt/Getty Images via Getty Images
Tapestry revenues decline in North America
Coach, Tapestry’s largest brand, was the highest performer during the quarter, and it showed a 3% sales increase to $1.2 billion.
By Laurel Deppen • Aug. 18, 2023 -
Courtesy of Amyris
Consumer product maker Amyris files for bankruptcy, lays off another 260 workers
The biotech company’s entire portfolio of brands, which includes JVN, Biossance and Rose Inc., is also up for sale.
By Daphne Howland • Aug. 11, 2023 -
Joe Raedle via Getty Images
Bed Bath & Beyond’s Etlin: Lessons for CFOs staring down bankruptcy
With the messy task of closing hundreds of Bed Bath & Beyond stores poised to be completed this month, the home-goods retailer’s Holly Etlin reflects on her role as a kind of “uber CFO.”
By Maura Webber Sadovi • July 31, 2023 -
Permission granted by Authentic Brands Group
Authentic Brands Group acquires Rockport out of bankruptcy
The brand conglomerate sees an opportunity to expand the footwear company's assortment into a "full lifestyle offering."
By Nate Delesline III • July 26, 2023 -
BuyBuy Baby IP buyer wins bid on 11 store leases
The move may position online retailer and vendor Dream on Me to expand into brick-and-mortar operations.
By Nate Delesline III • July 24, 2023 -
Bankruptcy judge OKs sale of BuyBuy Baby brand and digital assets for $15.5M
The distressed retailer’s brick-and-mortar stores are now slated to close after no bids materialized to keep them open.
By Nate Delesline III • July 12, 2023 -
Daphne Howland/Retail Dive
Senators take aim at Bed Bath & Beyond stock buybacks, lack of worker severance
Democratic lawmakers Cory Booker and Elizabeth Warren criticized the retailer for spending $11.8 billion in buybacks since 2004 and are questioning the company's worker severance practices.
By Nate Delesline III • July 11, 2023
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