Distressed Retail
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"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring to liquidate, close all stores after no buyer found
"This is not the outcome that any of us had hoped for," CEO Charles Tyson said in messages to customers and vendors.
By Nate Delesline III • Sept. 6, 2024 -
Courtesy of Rite Aid
Rite Aid exits bankruptcy, sheds $2B in debt
Chief Financial Officer Matt Schroeder will take over the CEO post from restructuring officer Jeffrey Stein.
By Daphne Howland • Sept. 4, 2024 -
Courtesy of Big Lots
Big Lots offers $5.2M in retention bonuses to 4 executives
The move could signal a potential bankruptcy on the horizon, according to Debtwire's global head of legal and restructuring.
By Nate Delesline III • Aug. 27, 2024 -
Duane Prokop via Getty Images
Facing hundreds of talc-related lawsuits, Avon Products files for bankruptcy
Brazilian beauty conglomerate Natura & Co. earlier this year floated plans to separate its Avon business, but said this week that’s now on hold.
By Daphne Howland • Aug. 14, 2024 -
"Lumber Liquidators store, 2321 Ellsworth Road, Ypsilanti Township, Michigan." by Dwight Burdette is licensed under CC BY 3.0
LL Flooring files for bankruptcy with plans to close 94 stores
The company is pursuing a sale of its business and said it has a commitment for $130 million in debtor-in-possession financing from existing lenders.
By Nate Delesline III • Aug. 12, 2024 -
Courtesy of Hilco Merchant Resources
UK retailer Mountain Warehouse offers $5M stalking horse bid for Eastern Mountain Sports
Absent a higher offer, the U.K.-based outdoor gear retailer plans to keep less than half of the chain’s stores running.
By Daphne Howland • Aug. 7, 2024 -
Courtesy of Joann
Joann CFO out amid leadership revamp
The crafts retailer, fresh out of bankruptcy, has brought on new executives in tech, operations and merchandising.
By Daphne Howland • July 30, 2024 -
Nate Delesline III/Retail Dive
Is Big Lots’ transformation plan enough to save it?
Analysts say the retailer may face an uphill battle in a crowded sector with strong rivals.
By Nate Delesline III • July 29, 2024 -
Courtesy of Conn's
Conn’s files for Chapter 11 bankruptcy
The retailer has started the process of running going-out-of-business sales across its fleet and selling off its assets.
By Nate Delesline III • July 24, 2024 -
Courtesy of Conn's
Conn’s to close over 70 stores amid bankruptcy speculation
The closures represent about 13% of its store fleet and come amid a Bloomberg report that the home retailer is prepping to file for bankruptcy.
By Nate Delesline III • July 23, 2024 -
Courtesy of Walgreens
S&P Global Ratings downgrades Walgreens, citing struggles in both pharmacy and retail
The drugstore retailer faces debt maturities, and the upending of some strategies introduces new uncertainties, analysts said.
By Daphne Howland • July 22, 2024 -
Daphne Howland/Retail Dive
The Body Shop acquired out of UK administration
Investors including Auréa Group, whose portfolio is centered on DTC beauty brands, will acquire the decades-old retailer for an undisclosed amount.
By Daphne Howland • July 17, 2024 -
Brandon Bell via Getty Images
Express bankruptcy spurs layoffs at Ohio facility
The company's partner, Bath & Body Works Logistics Services, is shrinking its distribution operations for the apparel retailer due to declines in volume.
By Philip Neuffer • July 8, 2024 -
Scott Olson via Getty Images
Saks Fifth Avenue parent company to acquire Neiman Marcus Group for $2.6B
The rival companies will continue to operate independently, and the deal is partially funded by e-commerce giant Amazon.
By Stephanie Arnold • July 5, 2024 -
Nate Delesline III/Retail Dive
Sam Ash assets acquired for $15.2M
Mexican company Gonher is purchasing “substantially all” of its assets, following the music retailer's Chapter 11 bankruptcy in May.
By Nate Delesline III • July 3, 2024 -
All Bob’s Stores locations to close
The retailer was unable to secure the financing necessary to keep operating. The fate of sibling Eastern Mountain Sports remains unclear.
By Daphne Howland • July 2, 2024 -
Eastern Mountain Sports, Bob’s Stores file for bankruptcy
The chains, in a “liquidity crisis” since their bank found them to be in default, required emergency funding to make payroll Friday.
By Daphne Howland • June 21, 2024 -
Courtesy of Big Lots
Column
The Weekly Closeout: Big Lots issues ‘going concern’ warning and Amazon ditches plastic air pillow packaging
The discount retailer said it may not meet its credit and term loan obligations, while Amazon aims to drop plastic air pillows in North American shipments by the holidays.
By Retail Dive Staff • June 21, 2024 -
Permission granted by Express
Express, Bonobos bought out of bankruptcy for $174M
A newly formed joint venture between WHP Global and mall owners Simon, Brookfield and Centennial will keep 450 stores open and 7,000 jobs intact.
By Nate Delesline III • June 17, 2024 -
Courtesy of Care/of
Care/of is shutting down
The vitamin and supplement company said it no longer has the needed funding to operate and has canceled all existing subscriptions.
By Caroline Jansen • June 17, 2024 -
Daphne Howland/Retail Dive
Ryan Cohen dodges Bed Bath & Beyond shareholder lawsuit
Claims that the activist investor collected “short-swing” profits, leaving shareholders holding the bag, are moot, a judge ruled Tuesday.
By Daphne Howland • June 12, 2024 -
Courtesy of Garnet Hill
Qurate faces Nasdaq delisting
The struggling company, which runs home shopping networks QVC and HSN and a small brand portfolio, has until Dec. 9 to regain share price compliance.
By Daphne Howland • June 11, 2024 -
Brett Dworski/Retail Dive
Q&AFoxtrot founder talks retailer’s struggles, resurgence and growth plans
Mike LaVitola is back in the driver seat and plans to reopen 15 stores this year. He discussed what led to the company's demise, where stores will open and more.
By Brett Dworski • June 11, 2024 -
Daphne Howland/Retail Dive
Landlords close in on acquisition of Express
With private equity-backed WHP Global, Brookfield and Simon Property Group have put up a stalking horse bid of some $160 million in cash and $38 million in assumed liabilities.
By Daphne Howland • June 7, 2024 -
Courtesy of Claire's, Hello Kitty
ColumnThe Weekly Closeout: Kirkland’s explores strategic alternatives as Claire’s celebrates Hello Kitty
The home retailer is also instituting a cost-savings plan as sales fell 5% in Q1. Meanwhile, the tween brand is honoring the iconic character’s 50th anniversary.
By Retail Dive Staff • June 7, 2024
