Distressed Retail: Page 6
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"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
Tuesday Morning wants to close over 250 stores
The discount retailer says it “has too many stores” and needs a smaller brick-and-mortar footprint to remain a viable business.
By Nate Delesline III • March 10, 2023 -
Bruce Bennett via Getty Images
S&P upgrades Bed Bath & Beyond but warns of ongoing concerns
The retailer remains in a precarious financial position with the outcome of its turnaround plan uncertain.
By Nate Delesline III • March 7, 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 -
Caroline Jansen/Retail Dive
11 digitally native retailers at risk of bankruptcy
These companies were meant to be disruptors to the industry. But as macroeconomic pressures intensify and capital gets harder to find, they may be put to their biggest test.
By Caroline Jansen • March 6, 2023 -
Adeline Kon/Retail Dive
TrackerThe running list of major retail bankruptcies
In April, Express, Pirch and 99 Cents Only all filed for bankruptcy, just weeks after Joann and The Body Shop.
By Retail Dive Staff • Updated April 26, 2024 -
Nate Delesline III/Retail Dive
Party City plans to close 22 stores in bankruptcy
Twelve of the locations are already up for auction, and the total number of closures could change as the retailer continues to evaluate its footprint.
By Nate Delesline III • Feb. 17, 2023 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
Tuesday Morning says lenders’ actions contributed to Chapter 11
The company, which is preparing to close hundreds of stores, said when Wells Fargo increased its reserves, the move “effectively eliminated” the retailer’s operating liquidity.
By Nate Delesline III • Feb. 16, 2023 -
Caroline Jansen/Retail Dive
Independent Pet Partners files Ch. 11, looks to sell some stores
The owner of Loyal Companion is closing dozens of stores and selling some of its locations to Pet Supplies Plus and other competitors.
By Kaarin Vembar and Tatiana Walk-Morris • Feb. 16, 2023 -
"Tuesday Morning at the Sunset Esplanade in w:Hillsboro, Oregon." by M.O. Stevens is licensed under CC BY 4.0
Tuesday Morning files for Chapter 11, again
In its second bankruptcy filing since 2020, the discount retailer is planning to shrink its store footprint further and refocus on high-traffic stores.
By Nate Delesline III • Feb. 14, 2023 -
Daphne Howland/Retail Dive
Store openings outpace closures in 2022: Coresight
Discount stores — driven by dollar stores — led retail openings, while apparel stores saw the most closures.
By Nate Delesline III • Feb. 13, 2023 -
Carl Court via Getty Images
What lies ahead for retail in 2023
Value-conscious consumers, rising layoffs and new leadership at some of retail’s major players are just a few forces shaping the industry so far.
By Retail Dive Staff • Feb. 13, 2023 -
Daphne Howland/Retail Dive
Last-minute funding buys Bed Bath & Beyond more time
As part of the company’s turnaround strategy, it aims to reduce its brick-and-mortar footprint to 480 stores.
By Nate Delesline III • Feb. 8, 2023 -
Bruce Bennett via Getty Images
Bed Bath & Beyond seeks $1B to avoid bankruptcy
The investor deal comes as the beleaguered home goods retailer ushers in a new interim CFO with experience in turnarounds.
By Nate Delesline III • Feb. 7, 2023 -
Permission granted by Bed Bath & Beyond
Missed interest payment signals Bed Bath & Beyond ‘out of options’
Analysts think the retailer is out of time and money. Meanwhile, the company closed a distribution center in Texas, impacting hundreds of employees.
By Nate Delesline III • Feb. 2, 2023 -
Robin Marchant / Stringer via Getty Images
Ariana Grande to buy her beauty brand’s assets from Forma Brands for $15M
The singer’s brand, R.e.m. Beauty, entered into a licensing agreement with the company in December 2020.
By Dani James • Feb. 2, 2023 -
Courtesy of Bed Bath & Beyond
Bed Bath & Beyond to close all Harmon stores
The retailer will also close an additional 87 of its namesake stores as a potential bankruptcy filing looms.
By Nate Delesline III • Jan. 30, 2023 -
Bruce Bennett via Getty Images
As it inches toward bankruptcy, Bed Bath & Beyond defaults on loan
The distressed home goods retailer said it doesn’t have enough cash to pay down its debts.
By Caroline Jansen • Jan. 27, 2023 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Foot Locker faces privacy suit and Levi’s misquotes Mark Twain
A lawsuit alleges the athletics retailer violated California’s privacy act. Meanwhile, Levi’s CEO Chip Bergh cited the author on why skinny jeans are not dead.
By Retail Dive Staff • Jan. 27, 2023 -
Daphne Howland/Retail Dive
Bed Bath & Beyond receives Nasdaq warning over late 10-Q
The distressed retailer has until March 13 to regain Nasdaq listing compliance by submitting the financial report.
By Nate Delesline III • Jan. 20, 2023 -
Courtesy of Stitch Fix
ColumnThe Weekly Closeout: Amazon discontinues charity program, Stitch Fix takes to Twitter for CEO search
The e-commerce giant is ending its AmazonSmile program after a decade and the styling service is seeking out CEO applicants via social media.
By Retail Dive Staff • Jan. 20, 2023 -
Daphne Howland/Retail Dive
Judge grants Party City immediate access to $75M bankruptcy loan
The remainder of a $150 million debtor-in-possession loan will not be released until February.
By Nate Delesline III • Jan. 19, 2023 -
Nate Delesline III/Retail Dive
Party City files for bankruptcy with plans to shed debt
The retailer has a deal with bondholders to pursue an “expedited restructuring” aimed at improving its capital structure and liquidity.
By Nate Delesline III • Jan. 18, 2023 -
Courtesy of CriticalPoint Capital
Olympia Sports’ intellectual property headed to auction
The retailer, which once had a footprint of 230 stores, is among the latest retail brand names up for grabs following a Chapter 11 bankruptcy.
By Nate Delesline III • Jan. 13, 2023 -
Gabe Ginsberg / Stringer via Getty Images
Morphe parent company files for Chapter 11 bankruptcy
Forma Brands — which also operates Playa Beauty and Jaclyn Cosmetics — has entered a proposed $33 million acquisition deal with lenders.
By Dani James • Jan. 12, 2023 -
Bruce Bennett via Getty Images
Fitch: Gulf between retail’s winners and losers to widen in 2023
Default rates will likely remain low, but the firm is watching for bankruptcies from major players like Party City, Rite Aid and Bed Bath & Beyond.
By Cara Salpini • Jan. 10, 2023 -
Courtesy of Boxed
Boxed considers selling itself amid cash crunch
The online retailer, which is trying to shore up its liquidity and boost its sagging stock price, also said it is “actively exploring” ways to bring in additional capital.
By Sam Silverstein • Jan. 6, 2023
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