Bankruptcy & Creditor’s Rights Blog Posts

  • Rite Aid Chapter 11 Bankruptcy Filing: Just What the Doctor Ordered

    October 16, 2023

    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 local lawsuits claiming it filled ...

  • Impending Rite Aid Chapter 11 Bankruptcy – 4 Things Trade Creditors and Landlords Should Know

    September 28, 2023

    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 remaining will be sold or ...

  • David’s Bridal Files Second Chapter 11 Bankruptcy in Five Years

    April 17, 2023

    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 case Number 2313131 (CMG). According to ...

  • It’s Déjà Vu All Over – Tuesday Morning Files a Chapter 22 Bankruptcy

    February 15, 2023

    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 pending before the Hon. Eldon ...

  • 10 retailers to watch for a bankruptcy filing in 2023

    January 4, 2023

    Welcome to 2023! The new year holds much anticipation. The Fed rate hikes have slowly started to reduce inflation, yet 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 in ...

  • Is a Tuesday Morning Chapter 22 Bankruptcy Imminent?

    July 25, 2022

    Tuesday Morning Corporation, the discount, closeout home retailer, could be filing for Chapter 11 bankruptcy, reports both Bloomberg and Seeking Alpha. Shares of the company fell nearly 30% last week. The company has struggled with supply chain bottlenecks. The company previously emerged from Chapter 11 bankruptcy in December 2020, where it shed about 200 stores. If it files for Chapter ...

  • Top 10 Retailers to Watch for Possible Bankruptcy Filing in 2022

    February 7, 2022

    The last half of 2021 was virtually a ghost town for filing retail bankruptcies. However, the rise of the Omicron variant has significantly delayed a full return to normal for shopping centers. The good news is that the vaccines work, people are cautiously resuming activities, and the economy is running well. Still, with the end ...

  • Considering COVID in Valuing Real Estate in Chapter 11 Cases

    February 1, 2022

    Timothy Duggan, Chair of Stark & Stark’s Bankruptcy & Creditors’ Rights Group, authored the article “Cramdown Litigation: Considering COVID in Valuing Real Estate in Chapter 11 Cases,” which was published in the New Jersey Law Journal on January 26, 2022. In this timely article, Tim discusses how the valuation of real estate in Chapter 11 cases ...

  • What to do When Your Franchisee Files for Bankruptcy

    January 26, 2022

    With the economic downturn caused by COVID-19, many expected a tidal wave of commercial bankruptcy filings. After an initial spike of retail bankruptcy cases at the outset of the pandemic, the onslaught of bankruptcy has not yet materialized. Whether due to PPP loans, other available credit, modification and forbearance agreements, or government moratoriums on foreclosure ...

  • The Road Ahead – Four (4) “Mile Markers” to Watch in the Year Ahead

    October 28, 2021

    The road for the last year and a half has been bumpy, to say the least. The Pandemic, the election, and the supply chain have been challenging. Yet, despite these challenges, the shopping center industry continues to grow. Demand for retail space is surging back to pre-Pandemic levels. Tenants have generally stayed current with rents, ...

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