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The New Jersey-based company faced inflationary pressures on product costs, which reduced consumer spending, according to CEO Barry Litwin, as well as $800 million in outstanding debt. Red Lobster
Company officials said earlier this year that Rite Aid planned to use money saved from closing about 145 stores and from increased prescription volume to boost its cash flow and pay off debt.
The economy's as strong as it's been in years, and corporate earnings have collectively been even better than expected. By all accounts, companies--all companies--should be thriving. And most are ...
Gap. Gap and its other brands (Banana Republic, Old Navy and Athleta) have seen significant losses in recent years. In Q4 of 2022, the company's net loss was $273 million, up tremendously from a ...
The airline, which had been struggling for several years, claimed that its difficulties were compounded by the impact of the pandemic. LATAM Airlines Group filed for Chapter 11 bankruptcy in the United States for the company and its subsidiaries in Chile, the US, Ecuador, Colombia and Peru on 26 May 2020. [27]
Big Lots had planned to open three stores in the past year, but now plans to close between 35 and 40 across the nation. There are 27 Big Lots stores in New Jersey.
The company was later sold in 2004 to a consortium that includes Nelvana founder Michael Hirsch and was subsequently renamed Cookie Jar Group. [3] Cookie Jar in turn was acquired in 2012 by what is now called WildBrain. In 2016, Weinberg was sentenced to 8 years and 11 months in prison, and is currently on parole. [4] HIH Insurance: Australia ...
The company continued to struggle through the retail apocalypse, and in late summer of 2022, Bed Bath & Beyond announced plans to close 150 stores, lay off 20% of its corporate and supply chain staff, and eliminate the role of COO and CSO within the company. Liquidity was raised to about $1B after a loan and additional financing were secured.