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Tag: liquidation

Soletrader restructures via voluntary liquidation

Avner Radomsky and Michael Goldstein, directors of RG Insolvency, were appointed as joint liquidators of Twinmar Limited on 19 June. A new subsidiary of the Twinmar Group, Twinmar London Limited, bought Sole Trader’s assets, including its stock. It will permanently close eight of its 37 stores in the UK, including its branches in Westfield Stratford City and Milton Keynes. The 29 …

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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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Fitch Ratings: Nearly half of all retail bankruptcies end in liquidation

Filing for bankruptcy protection is more likely to end in liquidation for a retailer than it is for other types of companies. Nearly half of retail and supermarket bankruptcy case studies over the past 15 years ended in liquidations compared with 13% for cross-sector U.S. corporate studies, according to a report by Fitch Ratings. Excluding supermarkets, …

Fitch Ratings: Nearly half of all retail bankruptcies end in liquidationRead More

Barneys store liquidation sales to begin soon, bankruptcy deal closes

A Barney’s store stands in lower Manhattan on August 06, 2019 in New York City. Barneys, one of America’s most exclusive clothing stores, has filed for bankruptcy. Spencer Platt | Getty Images Store liquidation sales at Barneys New York will begin soon, according to a release issued Friday. Private sales will begin next week for …

Barneys store liquidation sales to begin soon, bankruptcy deal closesRead More

A Barneys liquidation grows more likely as rival deal falls flat

A Barney’s store stands in lower Manhattan on August 06, 2019 in New York City. Barneys, one of America’s most exclusive clothing stores, has filed for bankruptcy. Spencer Platt | Getty Images A deal led by retail investor Sam Ben-Avraham to buy Barneys New York out of bankruptcy fell flat in court Thursday, making the …

A Barneys liquidation grows more likely as rival deal falls flatRead More