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Best Products – filed for bankruptcy for the second time in September 1996 [33] [34] and closed all of its stores by the following February [35] [36] Brendle's – became bankrupt and liquidated in 1996 [37] [38] Consumers Distributing – sought bankruptcy protection in 1996; Ellman's – acquired by Service Merchandise in 1985 [39] [40]
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [13] closing the remaining 54 stores [14] with plans to auction its intellectual property. [15] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [16] The shoe chain emerged from bankruptcy two years later. [17]
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In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising costs, leveraged buyouts, low quarterly profits outside holiday binge spending, delayed effects of the Great Recession, [3] and changes in spending habits.
The Body Shop is shutting down its U.S. operations after filing for bankruptcy. The U.K.-based chain filed for Chapter 7 liquidation in New York last week, according to a court filing.
Pier 1 filed for Chapter 11 bankruptcy protection on February 17, 2020, and on May 19, 2020, announced it was asking the bankruptcy court to close all stores, due in large part to the COVID-19 pandemic. In July 2020, Retail ECommerce Ventures (REV) bought the rights to Pier 1 and planned to revive the brand as an ecommerce store. [6]
Closures as part of the bankruptcy included most of the former Fashion Bar, Milliken's, Tri-North, and Uhlman's stores, as well as an exodus from Wisconsin, Michigan, and Minnesota. In 2003, Stage Stores acquired 136 Peebles stores located in 17 states. The company purchased the Goody's name through the Goody's bankruptcy auction in 2009. The ...
Later the brand changed hands twice before becoming dormant in 1966. Shopsmith, Inc. was founded in 1972 to resume manufacture of ShopSmith parts and product with John R. Folkerth as the principal stockholder. In 2009 Shopsmith, Inc. went into bankruptcy, and reorganized as RLF Brands with his son Robert L. Folkerth as the owner.