Author: Thomas S. Onder
TGI Friday’s Files for Chapter 11 Bankruptcy Protection
Posted in Bankruptcy & Creditor's Rights
Dallas-based TGI Friday’s, which started in Manhattan in 1965 and was one of the first chains to capitalize on the “happy hour” concept, filed for Chapter 11 bankruptcy protection on Saturday in the Northern District of Texas, docket 24-80069. CNN reported that the company issued a statement, which communicated that… Continue reading
Not a BIG Surprise, BIG LOTS Files for Chapter 11 Bankruptcy
Posted in Bankruptcy & Creditor's Rights
Big Lots, the Ohio-based retail chain that sells furniture, home dĂ©cor, and other items at almost 1,400 stores nationwide, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket 24-11686 (JKS). AP News reported that the company cited high inflation and interest rates as reasons for… Continue reading
Don’t Close Your Eyes: Blink Fitness May Disappear in a Chapter 11 Bankruptcy Filing
Posted in Bankruptcy & Creditor's Rights
Affordable gym operator Blink Holdings aka Blink Fitness, an Equinox-owned chain with more than 100 locations, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket 24-11686 (JKS). At its first day hearing on Tuesday, the gym operator advised that it intended to sell all its… Continue reading
Express Fast Tracks Chapter 11 Bankruptcy Filing
Posted in Bankruptcy & Creditor's Rights
Express, Inc., the fashion mall retailer, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10831 (KBO) on April 22, 2024. This is the second retailer bankruptcy filing that our office has called since publishing our Retailers to Watch for a Possible Bankruptcy Filing in… Continue reading
JOANN’s Chapter 11 Bankruptcy Filing: Stitching Together a Reorganization
Posted in Bankruptcy & Creditor's Rights
JOANN, Inc., aka Jo-Ann Stores Holdings Inc. aka JOANN aka Jo-Ann Fabrics and Crafts, the 80-year-old, Ohio-based, arts-and-crafts operator filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10418 (CTG) on March 18, 2024. According to The New York Times, the retailer has a deal with its… Continue reading
10 Retailers to Watch for a Possible Bankruptcy Filing in 2024
Posted in Bankruptcy & Creditor's Rights
2024 holds much anticipation. The Fed rate hikes have started to reduce inflation, yet some prices remain high. Unemployment figures persist at record lows despite many large employers cutting back. Continuing supply chain issues persist as China reopens in the face of its COVID crisis. And consumer spending is tightening… Continue reading
Rite Aid Chapter 11 Bankruptcy Filing: Just What the Doctor Ordered
Posted in Bankruptcy & Creditor's Rights
Rite Aid Corporation, one of the largest pharmacy chains in America, filed for Chapter 11 bankruptcy protection in the District of New Jersey bankruptcy Court, docket #23-18993 (MBK) on October 15, 2023. According to The New York Times, heavy debt, declining sales, and more than a thousand federal, state, and… Continue reading
Impending Rite Aid Chapter 11 Bankruptcy – 4 Things Trade Creditors and Landlords Should Know
Posted in Bankruptcy & Creditor's Rights
As reported by both NBC News and The Wall Street Journal, Rite Aid is preparing for a Chapter 11 bankruptcy filing. Rite Aid is the third-largest U.S. drugstore chain. If they pull the trigger, it is expected that 400 to 500 stores of their 2,100 stores will close, and the… Continue reading
David’s Bridal Files Second Chapter 11 Bankruptcy in Five Years
Posted in Bankruptcy & Creditor's Rights
David’s Bridal, Inc., the wedding dress retailer, filed for a second Chapter 11 bankruptcy proceeding in less than five (5) years. Although the last filing was in Delaware, this filing is before the Honorable Christine M. Gravelle of the District of New Jersey Bankruptcy Court in Trenton, New Jersey, under… Continue reading
It’s Déjà Vu All Over – Tuesday Morning Files a Chapter 22 Bankruptcy
Posted in Bankruptcy & Creditor's Rights
It’s the second Chapter 11 bankruptcy petition (a Chapter 22) in three years for the discount, closeout home retailer, Tuesday Morning Corporation. The retailer filed for bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas on Valentine’s Day under case number 23–90001. The case is… Continue reading