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Off-Price Retailer Stein Mart Files For Chapter 11

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Off-price specialty retailer Stein Mart, Inc. filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Middle District of Florida, Jacksonville Division amid a challenging retail climate and the pandemic, the company said in a statement. In July, Ascena Retail Group, Inc.

Retail 58
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Amazon Eyes JCPenney Buy

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Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. According to the U.S.

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Ascena Files For Chapter 11 Bankruptcy, Plans Store Closures

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Ascena Retail Group, Inc. The retailer and “certain of its subsidiaries” have come to a restructuring support agreement (RSA) with more than 68 percent of secured term lenders, according to a Thursday (July 23) statement.

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Report: ABG May Buy Bankrupt Ann Taylor Parent Firm Ascena

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Authentic Brands Group ( ABG ), the New York-based brand management company, could be the latest potential buyer of Ascena Retail Group , the recently bankrupt parent firm of Ann Taylor, Footwear News reported. Under a restructuring, the conglomerate would close its Canada, Puerto Rico and Mexico stores and its Catherines shops.

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Stripe Says SCA Puts Billions Of Online Sales At Risk

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Amazon , Worldpay , and Stripe — the eCommerce and payment companies — are expressing concern that a lack of preparedness by the industry to new EU security regulations could put billions of dollars of eCommerce purchases at risk. Collison said the rules will require every European merchant to restructure their checkout process. “It’s

Sales 66
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Deutsche Bank, PNC Plan To Reduce Brick-And-Mortar Bank Branch Footprints

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As of last year, Deutsche has been undergoing a restructuring effort that encompasses a decrease of its balance sheet, 18,000 employment reductions by 2022 and less investment banking activity. Deutsche’s move to decrease its number of locations comes after news that Commerzbank would not open 200 offices again that were closed amid COVID-19.

Banking 84
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So Far, 2016 Is A Boom Year For Retail Bankruptcies

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Absolutely no need to panic, then — unless the topic is retail bankruptcies , which increased year over year by 24 percent. Yes, that seems an appropriately fine number to panic over. Such is the double-edged sword of a retail industry swept up in innovation. January — Wet Seal. February — Hancock Fabrics. As of Feb. As of Feb.

Retail 44