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JUNE 5, 2020

The retailer, which employs 85,000 people, filed for Chapter 11 bankruptcy protection last month after the coronavirus forced it to shut its more than 800 stores, which followed years of weak sales. In mid-May, the struggling retailer disclosed that it paid $17 million in interest charges on a secured loan to avoid a default.

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DECEMBER 10, 2020

Ascena Retail Group Inc. The arrangement would keep the company as a going concern with a minimum of 900 retail locations, the newspaper reported. 8) he would give the go-ahead to the sale of most of the retail group’s leftover property to Sycamore Partners. In July, Ascena Retail Group, Inc.

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JULY 1, 2020

Tokens are incredibly powerful tools to secure data and safely transport it from one point to another. He said tokens are capable of providing a wide world of possibilities beyond their traditional use as just security tools. He also said that what consumers want most keenly in the post-pandemic world is to feel safe and secure.

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OCTOBER 10, 2018

However, the sources told WSJ that the retailer is looking into alternatives to avoid a restructuring in court. 9), Sears reportedly brought on a new director, Alan Carr, who is a restructuring expert. He wants the retailer’s board to sell assets and creditors to refinance debts. And, on Tuesday (Oct.

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OCTOBER 21, 2016

Retailers that are unable to call on substantial financial reserves are struggling in the current environment. Mobile shopping is growing and a key focus of retailers going into the holiday season. Mobile shopping is growing and a key focus of retailers going into the holiday season. The debt load for rue21 includes a $538.5

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JULY 6, 2020

The retailer said it has received new financing commitments that will offer enough liquidity to fund it until the sale’s closing, according to an announcement. In addition, the retailer said new Authentic Brands Group LLC subsidiary ABG-Lucky LLC will buy all of its intellectual property assets. Houlihan Lokey Capital, Inc.

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JUNE 1, 2020

With its store closing sales set to start after retail locations can safely open again, Pier 1 Imports, Inc. The home décor and accessories retailer intends to finish its liquidation sales by the conclusion of October, according to a press release. said it has received the green light from the U.S.

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JANUARY 18, 2019

The retailer, which has just under 950 locations, filed for protection from creditors in the U.S. million) and a senior secured asset-based revolving credit facility ($79.1 million) in addition to a senior secured term loan (roughly $89 million). The report noted that many retailers have filed for bankruptcy before liquidating.

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JUNE 7, 2019

Review our coverage, including stories about Stripe’s chargeback protection plan, the latest on open banking progress, a big investigation into crypto and the latest on the emerging ecosystem of predictive retail. MoneyGram Works to Restructure Debt; Could Seek Buyer. Why Search and Logistics Will Shape the Future of Retail Payments.

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APRIL 29, 2020

That fallout is worst for lodging, gaming, senior housing, nursing homes, student housing, and most retail.”. Bloomberg reported Tennessee-based CBL Properties, which owns 68 enclosed, outlet and open-air retail malls, is seeking advice on strategic and financing options, including restructuring.

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APRIL 2, 2019

App security, speed and partnerships with brands like Deliveroo are all ways the company is looking to augment the MOA experience for the modern customer, Sharif said. For more on Costa Collect, visit the Tracker’s feature story.

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JUNE 17, 2020

The retailer said $250 million is available now and a further $150 million will be available as needed after Sept. In early May, as announced in the past, the company came into a binding restructuring support agreement with holders representing more than two-thirds of its current debt. Neiman Marcus Group has obtained U.S.

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JUNE 4, 2019

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

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JULY 6, 2017

While the retail industry is undergoing a digital revolution, many merchants are feeling financial pressure. One of the latest retailers to file for Chapter 11 bankruptcy protection is high-end denim company True Religion Apparel. The premium denim retailer recently announced plans to file in the District of Delaware U.S.

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MAY 5, 2016

Absolutely no need to panic, then — unless the topic is retail bankruptcies , which increased year over year by 24 percent. Such is the double-edged sword of a retail industry swept up in innovation. For every new path cut through the market, the retailers standing in the way are cut down. January — Wet Seal. As of Feb.

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MAY 15, 2020

Part of that plan will allow the beleaguered retailer to borrow an additional $450 million to keep the company running during the reorganization. Part of that plan will allow the beleaguered retailer to borrow an additional $450 million to keep the company running during the reorganization.

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JANUARY 7, 2019

According to the South China Morning Post , the company, backed by Fung Retailing Group, will open most of the newest locations in China, and is also considering Indonesia, Vietnam and Cambodia. locations last June after failing to restructure its debt or find a buyer. It currently operates more than 550 stores in the region. “We

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SEPTEMBER 22, 2020

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. Securities and Exchange Commission (SEC) filing per the outlet. The financial institution has just over 2,250 offices, according to a U.S.

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JANUARY 23, 2020

Another debt restructuring occurred in 2018 after more financial challenges accrued. Financial advisers to Fairway during yet another institutional reorganization include the restructuring law firm Weil Gotshal & Manges LLP and investment bank PJ Solomon Securities LLC.

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SEPTEMBER 19, 2017

The retail death spiral drags on, and this week we have a new victim: Toys “R” Us. 18 and hopes to begin a restructuring that will allow it to revamp its long-term debt. As of now, the approximately 1,600 Toys “R” Us and Babies “R” Us brick-and-mortar retail locations around the world will continue to operate as usual.

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NOVEMBER 9, 2020

In addition to seeking excess discounts and canceling orders, the vendors have revealed delayed payment practices in Transformers' new report, "Ending Unethical Brand and Retailer Behavior: The Denim Supply Chain Speaks Up." In one instance, a brand required 60-day payment terms of a vendor, then filed for bankruptcy 14 days later.

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AUGUST 12, 2019

The company specialized in monthly fan boxes filled with shirts, gear and gadgets for the sci-fi and gaming culture, Chief Restructuring Officer Stuart Kaufman said in a court declaration filed in Wilmington, Delaware. Court papers show the company had more than 250,000 recurring subscribers, the news outlet reported.

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FEBRUARY 4, 2019

Charlotte Russe, a retailer aimed toward young women’s fashion, has filed for Chapter 11 bankruptcy protection, according to reports. The retailer, which has more than 500 stores across the country, including 10 stores called Peek Kids, will close around 95 locations while it continues to search for a buyer. The bid for $5.2

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JANUARY 26, 2017

As a wave of bankruptcies continues to roll through retail, the malls that house those now-defunct stores are finding the going increasingly rough. 2016, 314 loans secured by retail property were liquidated, an 11 percent increase from the same time a year earlier, according to data from Morningstar Credit Ratings. “We’re

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MARCH 21, 2018

The embattled toy retailer, for example, is seeking approval to stop over $450 million in payments to suppliers, Reuters reported. Toys R Us also bought goods on unsecured trade credit, so some of its trade vendors want the retailer to send back unpaid inventory. after failing to restructure its debt or find a buyer, Reuters reported.

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APRIL 1, 2020

He added that worker furloughs have also already begun, “particularly in the hotel, retail, travel and restaurant industries. Rosengren added that the Fed has also been buying Treasury bonds and mortgage-backed securities to lower interest rates on longer-term debts like home loans.

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APRIL 7, 2017

High-end retailer Bebe is expecting some major changes as it looks to restructure its business. The closure of roughly 12 percent of Bebe’s outlets is only fueling rumors that the retailer will eventually shut down all of its physical locations for a pure play eCommerce focus.

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OCTOBER 7, 2020

The company said it expects to stay afloat, and that it has “reached an understanding with its secured lenders to support its restructuring.”. This latest announcement follows a private-equity buyout in 2017 by NRD Capital Management.

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APRIL 27, 2020

The Wall Street Journal reports that certain verticals, such as retail and energy, had already been on relatively shaky ground with onerous debt loads before COVID-19 came to the fore. Marquee names in retail are in talks for bankruptcy financing, such as JCPenney, to the tune of $1 billion. Neiman Marcus may file.

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SEPTEMBER 27, 2017

Toys“R”Us has just managed to secure $3.1 billion in financing, a big vote of investor confidence for the toy and game retail brand which had recently declared bankruptcy. 18, 2017, with an overall goal of restructuring its operations and substantial outstanding debt, Chain Store Age reports.

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MAY 4, 2016

Retail’s latest piece of roadkill today is Fairway Supermarkets, an institution for our readers living in New York City, and probably something the rest of our readers have never heard of. Along with the filing, Fairway is looking to get a $55 million super priority secured debtor-in-possession credit facility and a $30.6

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APRIL 24, 2017

Bebe Stores, the embattled clothing retailer, is gearing up to shutter all of its stores by the end of May. In addition to closing its stores , the retailer said it was liquidating all merchandise and fixtures within the stores. Industry experts told Reuters more retailers are likely to file for bankruptcy in 2017.

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NOVEMBER 7, 2019

PSPs face complexities when building secure, satisfactory payment experiences for European customers, as countries’ approaches to implementing SCA requirements differ. The authentication challenges that SCA presents to merchants and their payment partners mean that many must significantly restructure the ways they treat online payments.

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SEPTEMBER 16, 2020

Securities and Exchange Commission (SEC). Together with the Company’s February 2020 restructuring actions, the Company expects expense savings generated from these actions of more than $100 million on an annualized basis,” the company said in the filing.

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FEBRUARY 16, 2018

Sears offered another rather depressing earnings report but says recent restructuring of the U.S. The news comes as Sears is commencing private exchange offers for its outstanding unsecured notes due in 2019 and its secured notes due in 2018, according to a filing with the Securities and Exchange Commission (SEC).

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OCTOBER 25, 2019

The question is the degree and extent that a fresh look will lead to a more radical consumer restructuring, which we feel is needed.” . Better results in the retail division are important to help Citigroup meets “its 2020 return on tangible equity target of 13.5 percent,” the article said.

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DECEMBER 21, 2016

After disappointing third quarter financial numbers, clothing retailer The Limited may be be going in another direction. According to Bloomberg , the brand pulled in Kirkland & Ellis to be its legal adviser and Guggenheim Securities and RAS Management Advisors for help with a debt restructuring and any asset sale.

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