Sears Lives to See Another Day
A U.S. Bankruptcy Court judge approved the sale of Sears to former chairman and CEO Eddie Lampert late last week, according to Bloomberg, accepting his $5.2 billion bid for the assets and keeping the company alive.
Chapter 11 Bankruptcy
Lampert Succeeds in Sears Chapter 11 Bankruptcy Auction
Sears Chairman Eddie Lampert succeeded with his bid in the bankruptcy auction, USA Today reported. If the judge signs off, this deal could prevent Sears from liquidating the rest of its stores. Here’s the latest in his last-ditch effort to save the struggling, iconic retailer.
Parent of Mattress Warehouse, Sleep Outfitters Files for Bankruptcy Protection
Innovative Mattress Solutions, parent of Mattress Warehouse, Sleep Outfitters and Mattress King brands, has joined the long line of retailers filing for Chapter 11 bankruptcy protection, The Wall Street Journal reported. The company’s 142 stores under the three brands remain open but its retail footprint is being reviewed, the CEO said.
Sears Gains Court Approval for an Additional $350 Million Loan
Sears has gained approval from a bankruptcy court judge for a $350 million loan that would help keep the company running through the holiday season while it attempts to reorganize.
Gymboree Considers Closing Half Its Stores
Gymboree could be closing half of its 900 stores a year after emerging from bankruptcy, when it was one of the few retailers managing to escape liquidation in that scenario as ecommerce continues to eat away at brick-and-mortar chains.
David’s Bridal Files Chapter 11, Stores Remain Open
Dealing with a mountain of debt and less business coming in the door, David’s Bridal is the latest in a string of retailers to file for Chapter 11 bankruptcy protection.
Retail Icon Sears Files for Chapter 11 Bankruptcy Protection
At long last and after several failed efforts, Sears Holdings is filing for Chapter 11 bankruptcy protection and embattled CEO Eddie Lampert, who tried unsuccessfully to prop up Sears with his own money, will step down but stay on as chairman. Here is a look at what remains and the steps Sears took to try to avert its bankruptcy fate.
Toys R Us, Geoffrey Looking to Come Back Again
Toys R Us, the on-again, off-again toy retailer, is looking for another reboot, less than four months after closing its remaining stores, according to investors that acquired its assets out of bankruptcy court.
National Stores Files Chapter 11, Plans to Close 22% Of its Stores
Discount retailer National Stores, which owns the Fallas, Factory 2-U, Weiner’s, Conway and Anna’s Linens brands, joined the growing list of Chapter 11 filings on Monday, the company reported, blaming a 2017 data breach, the 2014 purchase of Conway and a brutal environment.
Brookstone Files for Chapter 11 Bankruptcy
Brookstone is filing for Chapter 11 bankruptcy protection and announced it would be closing 101 mall locations, claiming declining mall traffic as the culprit. Here is what CEO Piau Phang Foo had to say about the decision and the continuing operation of the business in other channels.