May 20, 2020
Yesterday, Pier 1 Imports filed a motion seeking Court approval to begin an orderly wind-down of its retail operations. The Company intends to initiate liquidation sales once store locations can reopen, in compliance with COVID-19 g ... Read more
May 13, 2020
On May 10, Stage Stores filed a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas. The proceedings have been designated as case number 20-32564. The Company said it will simultaneously: (i) solicit bids for a ... Read more
May 6, 2020
On May 4, J. Crew Group, DIP filed a voluntary prearranged Chapter 11 petition in the U.S. Bankruptcy Court for the Eastern District of Virginia. The proceedings have been designated as case number 20-32181. The Company announced it has reached an agreement w ... Read more
April 29, 2020
COVID Impact Report
Best Buy Co., Inc. aims to open 200 locations across the country in May for consumers who have appointments for in-store consultations to purchase appliances or electronics. Employees will be mandated to wear masks ... Read more
April 22, 2020
L Brands deal to sell 55% of its Victorias Secret banner to Sycamore Partners could fall through, as the private equity firm is seeking to cancel its $525.0 million purchase after claiming L Brands breached covenants in the transactio ... Read more
April 15, 2020
Today Best Buy announced that it has retained approximately 70% of its sales compared to last year, supported by its curbside service model, despite the closure of its domestic stores. Domestic online sales are up over 250% ... Read more
April 8, 2020
According to reports, Pier 1 Imports, Inc. expects to receive a bid that would keep a number of the Company’s stores open. Click here for more information.
Previously, the Court authorized Pier 1 Imports to temporarily stop paying landlords, suppliers, and shippers to preser ... Read more
April 1, 2020
Fairway Group Holdings Corp. announced the winning bids for six Fairway stores on a going concern basis: Village Supermarket, Inc. (Wakefern Member), Seven Seas Georgetowne, LLC (Key Food Member) and Amazon Retail LLC. In addit ... Read more
March 25, 2020
Neiman Marcus has approximately $5.30 billion in debt; although a recent restructuring moved most of the maturity dates out to 2023, it has more than $100.0 million maturing in 2021. The Company has stopped issuing financial statements to th ... Read more
March 18, 2020
On March 11, Neiman Marcus announced it would close the majority of its Last Call stores by 1Q2 (click here for a complimentary list).1. The Company stated that select locations would remain open to serve as a selling channel for residu ... Read more
