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Sycamore also sold over 300 Dollar Express stores to rival, Dollar General. [27] In July 2020, it was announced that Sycamore Partners had made a $1.75 billion offer to acquire department store chain and competitor JCPenney out of bankruptcy, and would rebrand 250 JCPenney stores to the Belk name, to help the chain compete directly with Macy's.
Belk, the regional department store in the South owned by Sycamore Partners, plans to restructure its finances through a “prepackaged” Chapter 11 bankruptcy reorganization. Under a ...
Ascena is now a privately held company owned by Sycamore Partners and no longer a publicly traded company and has emerged out of bankruptcy. On January 4, 2021, Gary Muto stepped down as CEO of Ascena and in place Lizanne Kindler was named as the Executive Chair and Interim Chief Executive Officer of Ascena.
On February 23, 2021, it was announced that Belk had filed Chapter 11 bankruptcy in Houston, the first step in an organization plan that would allow Belk's owner Sycamore Partners to cede a large stake in the company to its lenders while maintaining control of the company. If the bankruptcy plan were approved it would give Belk new capital ...
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L Brands Inc filed a legal complaint against Sycamore Partners on Thursday, after the buyout firm walked away from a $525 million deal to acquire a majority stake in the company's Victoria's ...
On February 23, 2021, it was announced that Belk, which was the only remnant of The Limited left, had filed Chapter 11 bankruptcy in Houston, the first step in an organization plan that would allow Belk's owner Sycamore Partners to cede a large stake in the company to its lenders while maintaining control of the company. [18]
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