Chargebacks and markdown money requests didn’t go away just because retail doors closed during the coronavirus outbreak in the U.S., and the good news is that so far it doesn’t appear that retailers went overboard in their demands.
The list of bankruptcy filings in the fashion and retail space continues to grow longer with each passing day, so much so that some are beginning to wonder: are they banking on Chapter 11 filings as the way out of 2020’s unending pressures?
Tailored Brands is just one of several retailers to succumb to Covid-19, but as is the case for many of those that have filed for Chapter 11, the retailer’s struggles date back far before the pandemic began.
Lord & Taylor is the latest venerable retailer, with a history stretching back to 1826, that has succumbed to the pandemic by filing for Chapter 11 in Virginia on Sunday, along with its parent company Le Tote.
The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy protection on Thursday, the latest retailer to do so during the pandemic.
Deep into a marathon set of high-pressure meetings to save bankrupt retailer Aeropostale from being chopped up and sold for parts, Jamie Salter thought some comic relief was in order.
The coronavirus pandemic has reshaped retail as we know it—and it’s upending the retail mergers and acquisitions market, too.
Earlier this month, employees at Outdoor Voices, the oft-discussed activewear label that takes up more industry mindshare than it does market share, were once again nervous about the future of the business.
J.C. Penney Co. Inc. is upping the count on its store closings.
The bankrupt retailer, as part of its “store optimization strategy,” disclosed Monday evening it will close 13 stores on top of the 136 units being liquidated. However, even more closings will be revealed.
The nation’s retail industry is swamped with stuff and short of cash.
As they reopen stores full of merchandise from March that no one will want in June, retailers are struggling to make room for summer goods trapped in overstuffed warehouses.
Mergers and acquisitions have taken a hit amid the coronavirus crisis. MMG Advisors Co-Founder and Senior Managing Partner Allan Ellinger joins Yahoo Finance’s On The Move panel to assess the outlook for M&A and weigh in on the retail apocalypse.
For J.C. Penney, ensuring survival is an awesome task.
Extinguishing debt, fresh financing, closing weak stores — all of that is enabled through the bankruptcy, yet that doesn’t guarantee a lasting turnaround of the lumbering retail giant.
When Modell’s Sporting Goods filed for Chapter 11 Bankruptcy in March, it was supposed to be a standard liquidation: the New York-based retailer would conduct going-out-of-business sales at its 134 locations and then close the stores. The proceeds would go to creditors. Just days later, many US states went into lockdown. Modell’s stores closed, making going-out-of-business sales impossible. On March 27, a New Jersey bankruptcy judge granted Modell’s a month-long reprieve, which was later extended to the end of May.
Neiman Marcus Group finally fell on Thursday — but is looking to get back on its feet quickly.
Crushed under $4.5 billion in debt from its latest private equity buyout, starved of revenues by the coronavirus shutdown and racing to connect with consumers in a more digital world, the luxury department store filed for Chapter 11 protection from creditors in the U.S. Bankruptcy Court for the Southern District of Texas.
The namesake business of rock 'n' roll fashion designer John Varvatos, which had a store located at the former site of the legendary New York punk club CBGB, filed for bankruptcy with a loan from an affiliate of its private-equity owner, Lion Capital LLP.
The stampede for cash is on.
And the stakes are high for businesses looking for any way to keep going during the coronavirus shutdown.
The coronavirus is shutting down the global economy and propelling industries into crisis management. And that means retail and fashion companies must act fast to rapidly changing situations and any number of surprises as they grapple with the wellbeing of their workforce and the viability of their businesses going forward.
At first, U.S. retailers were most concerned about manufacturing facilities being disrupted by COVID-19 in China, where the virus originated.
Now, in the midst of a global pandemic, this is a much bigger issue than China. While some manufacturing operations are getting back up and running, much of the rest of the world is in distress.
Ten years ago, when the internet still held infinite possibilities, a new breed of brand built on the web began to pop up, promising to cut out the middleman and bring consumers cheaper, better products.
Byer California, a major supplier of juniors and misses clothing to major department stores, will be making a bigger splash in the kids-clothing market. It was recently announced that the San Francisco-headquartered Byer acquired KWDZ Manufacturing, LLC, which is based in downtown Los Angeles. KWDZ makes girls’ tween fashion sportswear and dresses for its brands Knit Works and Beautees. The deal is said to be Byer’s first acquisition.