Bankruptcy & Creditor’s Rights Blog Posts

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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 ...

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, ...

April 22, 2021

Old Country Buffet’s parent corporation, Fresh Acquisitions, LLC, filed for Chapter 11 bankruptcy protection on Tuesday, April 20, 2021, in the Northern District of Texas, docket # 21-30721. The San Antonio-based company operates six (6) restaurant chains in 27 states – Ryan’s, Old Country Buffet, Tahoe Joe’s Famous Steakhouse, Fire Mountain, Furr’s Fresh Buffet, and ...

December 1, 2020

The global pandemic has upended retail across the country. In most cases landlords and tenants are working together to get through this adversity. Although vaccines are expected before the end of the year, the distribution will not likely be available to everyone until at least mid-2021. As such, the retail industry is expected to have ...