Bankruptcy & Creditor’s Rights Blog Posts

  • Not a BIG Surprise, BIG LOTS Files for Chapter 11 Bankruptcy

    September 9, 2024

    Big Lots, the Ohio-based retail chain that sells furniture, home décor, 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 consumers pulling back on their home ...

  • Don’t Close Your Eyes: Blink Fitness May Disappear in a Chapter 11 Bankruptcy Filing

    August 14, 2024

    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 assets. FOX Business noted that Blink ...

  • Express Fast Tracks Chapter 11 Bankruptcy Filing

    April 23, 2024

    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 2024 article, posted on March 1, ...

  • 99 Cents Only Is Not Enough to Avoid Chapter 11 Bankruptcy

    April 8, 2024

    Number Holdings, Inc. the parent company of 99 Cents Only Stores LLC (“99 Cents” or the “Company”), an extreme value retail store operator, along with several affiliates, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10719 (JKS) on April 8, 2024. The Company is headquartered in Tustin, California and operates ...

  • JOANN’s Chapter 11 Bankruptcy Filing: Stitching Together a Reorganization

    March 18, 2024

    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 lenders for a $132 million cash ...

  • 10 Retailers to Watch for a Possible Bankruptcy Filing in 2024

    March 1, 2024

    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 in preparation for bumps in ...

  • 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 ...

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