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Chapter 11

Major Mall-Based Chain To Close 543 Stores After Filing For Bankruptcy Major Mall-Based Chain To Close 543 Stores After Filing For Bankruptcy
Major Mall-Based Chain To Close 543 Stores After Filing For Bankruptcy A retailer primarily located in malls is set to close all 543 of its stores following its third Chapter 11 bankruptcy filing. Closures for all rue21 locations are expected to be completed within the next two months with going-out-of-business sales coming soon. Founded in 1970, rue21 specializes in women's & men's casual apparel and accessories. In its filing on Thursday, May 2, the company said, "It became clear that offers to buy the debtors' assets at their current worth could not exceed the expected profits from selling off the closing stores and assets.  "As a result, the deb…
PWC Christmas Tree Shops Store Among 10 National Store Closures PWC Christmas Tree Shops Store Among 10 National Store Closures
PWC Christmas Tree Shops Store Among 10 National Store Closures Christmas Tree Shops has announced it will close 10 of its stores after filing for bankruptcy. The 53-year-old discount home-goods chain offers seasonal decor year-round, along with assorted gifts, kitchen items, and furniture. The 10 stores closures are: Rockland County, New York: 32 Spring Valley Marketplace, Spring Valley; Jefferson County, New York: 21182 Salmon Run Mall Loop West, Watertown; Cape Cod, Massachusetts: Davis Straits, Route 28 Falmouth Plaza, Falmouth, Massachusetts; Barnstable County, Massachusetts: Cranberry Highway Route 6A, Sagamore; Lancaster County, Pennsylvania:…
COVID-19: Century 21 Files For Bankruptcy, Closing All Stores COVID-19: Century 21 Files For Bankruptcy, Closing All Stores
Covid-19: Century 21 Files For Bankruptcy, Closing All Stores Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the company said in a press release. The off-price retail store in business for more than 60 years was left with "no viable alternative" to closing," the company's co-CEO Raymond Gindi said.  "While retailers across the board have suffered greatly due to COVID-19, and Century 2…
Neiman Marcus Markdown Store Among 17 Closing Across U.S. Neiman Marcus Markdown Store Among 17 Closing Across U.S.
Neiman Marcus Markdown Store Among 17 Closing Across U.S. Neiman Marcus has announced the closure of four department stores and 17 of its "Last Call" locations across the U.S. including one in Paramus. The luxury department store chain filed for bankruptcy in May. The Paramus store at Bergen Town Center, the 16 other markdown stores and the four department stores are expected to close by the fall of this year. The other "Last Call" locations closing are in New York, Florida, Washington, California, Texas, Georgia, Illinois, Louisiana, Maryland and Nevada. “As part of our Chapter 11 proceedings, we provided to the court a list of Neiman Marcus st…
COVID-19: Retailer Closing Connecticut Location COVID-19: Retailer Closing Connecticut Location
Covid-19: Retailer Closing Connecticut Location A popular retailer has filed for bankruptcy and plans to permanently close nearly half its stores, including one in Connecticut, after temporary store closures amid the novel coronavirus (COVID-19) pandemic. Kitchen goods retailer Sur La Table made the Chapter 11 filing late this week, saying 51 of 121 stores will close. The Seattle-based company, founded in 1972, brands itself as "the leading retail destination for those passionate about cooking and entertaining." The company announced it would sell its remaining stores and brand names to Fortress Investment Group. "Following the sale, …
COVID-19: Retailer Closing Hudson Valley Location COVID-19: Retailer Closing Hudson Valley Location
Covid-19: Retailer Closing Hudson Valley Location A popular retailer has filed for bankruptcy and plans to permanently close nearly half its stores, including one in the Hudson Valley, after temporary store closures amid the novel coronavirus (COVID-19) pandemic. Kitchen goods retailer Sur La Table made the Chapter 11 filing late this week, saying 51 of 121 stores will close. The Seattle-based company, founded in 1972, brands itself as "the leading retail destination for those passionate about cooking and entertaining." The company announced it would sell its remaining stores and brand names to Fortress Investment Group.  …
COVID-19: Retailer Closing Hudson Valley Location COVID-19: Retailer Closing Hudson Valley Location
Covid-19: Retailer Closing Hudson Valley Location A popular retailer has filed for bankruptcy and plans to permanently close nearly half its stores, including one in the Hudson Valley, after temporary store closures amid the novel coronavirus (COVID-19) pandemic. Kitchen goods retailer Sur La Table made the Chapter 11 filing late this week, saying 51 of 121 stores will close. The Seattle-based company, founded in 1972, brands itself as "the leading retail destination for those passionate about cooking and entertaining." The company announced it would sell its remaining stores and brand names to Fortress Investment Group.  …
Locally Owned, Operated GNC In Greenwich Marks 24th Year In Business Locally Owned, Operated GNC In Greenwich Marks 24th Year In Business
Locally Owned, Operated GNC In Greenwich Marks 24th Year In Business Though hundreds of GNC stores are closing after the company filed for bankruptcy this week, one location in Fairfield County is open and thriving - and has been for nearly a quarter of a century. The GNC in the Riverside Commons Shopping Center on East Putnam Avenue in Greenwich will continue to stay open, serving the customers who have frequented it since 1997, franchise owner Michael Saluzzi wants the community to know. Earlier story - COVID-19: GNC Files For Bankruptcy, Will Close About 1,200 Stores Saluzzi opened his first GNC franchise in Brooklyn in 1992 before setting up shop in Fai…
COVID-19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations COVID-19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations
Covid-19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations The novel coronavirus (COVID-19) crisis has claimed another victim. Chuck E. Cheese, the popular entertainment and pizza chain that has been the place to go for children's birthday parties for 43 years, has filed for bankruptcy protection after the virus forced locations to shut their doors more than three months ago. The bankruptcy announcement came after the company began reopening some locations as the region begins recovering from the COVID-19 outbreak. As of Wednesday, June 24, 266 Chuck E. Cheese and Peter Piper Pizza restaurant and arcade locations had reopened in accordance with th…
JCPenney Files For Bankruptcy JCPenney Files For Bankruptcy
JCPenney Files For Bankruptcy JCPenney has filed for bankruptcy, becoming the largest retailer to crumble during the coronavirus crisis. The retailer has 11 stores in New Jersey and is expected to announce which ones will close in the coming weeks. JCPenney hopes to come out of Chapter 11 "and this pandemic as a stronger retailer," company CEO Jill Soltau said. The Garden State Plaza location shuttered in March 2018. Click here for more from the New York Times.
COVID-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy COVID-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy
Covid-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy Amid a plunge in sales during the novel coronavirus (COVID-19) pandemic, specialty retailer J.Crew has filed for bankruptcy. More Chapter 11 filings across the retail sector are expected in the coming weeks. J.Crew, which opened its first location in 1989, operates more than 450 stores throughout the United States. The company J.Crew, which was struggling financially before the pandemic hit, was acquired in 2011 by TPG Capital and Leonard Green & Partners for $3 billion. J.Crew said in a statement that it has filed a series of customary "first-day" motions with the Bankruptcy Cou…
WATCH: Paul McCartney Rocks Jersey City Waterfront Restaurant WATCH: Paul McCartney Rocks Jersey City Waterfront Restaurant
Watch: Paul McCartney Rocks Jersey City Waterfront Restaurant Sir Paul McCartney had a packed house singing and dancing -- and recording -- at an invitation-only party on the Hudson River waterfront over the weekend. Wife Nancy Shevell, an Edison native, joined the gum-chewing, 77-year-old musical legend as he removed his jacket and launched the band into the Beatles' "I Saw Her Standing There" at the Hudson House in Jersey City Saturday night. The event was reportedly a farewell party for Shevell's family's Elizabeth-based New England Motor Freight company, which filed for Chapter 11 in U.S. Bankruptcy Court in Newark earlier this year. McCartney an…
Payless Going Out Of Business, With Eight Westchester Stores Among Closures Payless Going Out Of Business, With Eight Westchester Stores Among Closures
Payless Going Out Of Business, With Eight Westchester Stores Among Closures Another iconic retailer is going out of business. Payless ShoeSource will be closing all of its 2,100 remaining stores in the U.S. and Puerto Rico. The chain had filed for Chapter 11 bankruptcy protection nearly two years ago, closing hundreds of stores as part of its reorganization. Liquidation sales start Sunday, Feb. 17 with all stores staying open until the end of March with many others remaining in business until May. Store closures in the Hudson Valley and Fairfield County are as follows: Hudson Valley Westchester County Burlington Shopping Center, Yonkers Cortlan…