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Tag: bankruptcy

Report: Mall Owners CBL & Associates and PREIT File for Bankruptcy as Pandemic Pressure Continues

Mall owners CBL & Associates and Pennsylvania Real Estate Investment Trust (PREIT) have each filed for Chapter 11 bankruptcy protection, according to CNBC. Mall owners have faced financial pressure stemming from low foot traffic, but while some have been forced into bankruptcy, others have been acquiring struggling retailers to help maintain rents. PREIT, the largest …

Report: Mall Owners CBL & Associates and PREIT File for Bankruptcy as Pandemic Pressure ContinuesRead More

CBL, PREIT file for bankruptcy as retail’s problems hit mall landlords

Retail turmoil unleashed by COVID-19 has made its way to landlords.  Two mall operators, PREIT and CBL & Associates Properties, filed for bankruptcy within 24 hours of each other. While neither Chapter 11 comes as a surprise, they both serve as a reminder that the financial stress in the industry is deep and spread among …

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Brooks Brothers files for bankruptcy, as it seeks buyer, closes stores

The coronavirus pandemic has now claimed one of the country’s oldest and most prestigious retailers. Brooks Brothers  — pioneer of the polo and uniform of the polished prepster — filed for bankruptcy on Wednesday, as it continues to search for a buyer. The retailer, which is more than two centuries old, boasts of having dressed …

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In Bankruptcy Filing, Lucky Brand Proposes Sale To Authentic Brands And Simon Property Group

Lucky Brand has negotiated a two-pronged primary asset purchase agreement, also known as a “stalking horse” bid, to sell its operating assets to SPARC Group LLC (SPARC), a jointly owned entity of Authentic Brands Group (ABG) and mall owner Simon Property Group, and Lucky Brand’s intellectual property assets to ABG-Lucky LLC, a newly formed subsidiary …

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Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy

A customer enters a Pizza Hut restaurant in Princeton, Illinois. Daniel Acker | Bloomberg | Getty Images NPC International, the largest U.S. franchisee of Yum Brands’ Pizza Hut, filed for Chapter 11 bankruptcy on Wednesday. The company operates more than 1,200 Pizza Huts and nearly 400 Wendy’s restaurants. In contrast to most of the restaurant industry, Pizza …

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Chuck E. Cheese parent files for Chapter 11 bankruptcy

Chuck E Cheese’s restaurant and games in Lakewood, California. Juan Camilo Bernal | Getty Images Chuck E. Cheese’s parent company CEC Entertainment said Thursday it has filed for Chapter 11 bankruptcy protection after venue closures stemming from the coronavirus pandemic roiled its business. The company, which is owned by private equity firm Apollo Global Management, …

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Coronavirus: True Religion files for Chapter 11 bankruptcy

Designer jeans company True Religion has filed for Chapter 11 bankruptcy protection for the second time in three years, citing difficulties due to the coronavirus pandemic. In a court filing, the denim retailer said it would have preferred to wait out the current period of lockdowns and instability in financial markets but “simply could not …

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Debenhams prepares to file for bankruptcy | Business

Debenhams is preparing to call in administrators after the struggling department store was forced to close all its outlets under the coronavirus lockdown. The company, which has 22,000 staff and was rescued by its lenders after collapsing into administration only a year ago, is understood to be considering filing a formal notice of intention to …

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Modell’s seeks bankruptcy suspension as coronavirus impairs liquidation sales

Dive Brief: Modell’s Sporting Goods filed for a reprieve in its Chapter 11 bankruptcy case, asking the court to approve a 45-day bankruptcy and operating suspension due to the impacts of the coronavirus outbreak on Modell’s store closing sales. The retailer had planned to liquidate its entire 134-store footprint. In court documents, the retailer asserted …

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Pier 1 files for Ch. 11 bankruptcy as talks with potential buyers continue

Luke Sharrett | Bloomberg | Getty Images Pier 1 announced Monday that it began Chapter 11 bankruptcy proceedings in Virginia and that it is pursuing a sale of the company. The home furnishings chain said in a release that it filed for bankruptcy in the U.S. Bankruptcy Court in Richmond, Virginia, after warning in less than …

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