Chapter 11 news and archive

Jessica Simpson to buy back her brand, after Sequential Brand Group files for bankruptcy protection

Following Sequential Brand Group’s voluntary Chapter 11 filing, it appears that Jessica Simpson might be buying the rights to her brand back after the news of the bankruptcy broke. Last week the brand management and licensing company filed for a Chapter 11 petition at the US Bankruptcy Court as a result of significant debt, declaring it will no...

Business

Neiman Marcus aims to emerge from bankruptcy with new bond

Struggling American retailer Neiman Marcus is hoping to emerge from bankruptcy by raising one billion dollars via a junk dollar bond. The ailing department store exited Chapter 11 about six months back, and hope the funds it raises will be able pay back a loan of 125 million dollars and the large interest on its remaining debt. The NMG Holding...

Retail

Bankruptcy could be looming for some retailers

A second wave of Covid-19 may be detrimental for retailers who are still recovering from the onset of the pandemic. Some of America’s biggest names in fashion filed for Chapter 11 this year, including J. Crew and Neiman Marcus, J.C. Penney, Tailored Brands, Fred’s, Sears and Nine West. According to Retail Dive, the “bloodletting” is far from...

Business

J.Crew emerges from Chapter 11 bankruptcy

J.Crew Group has successfully completed its financial restructuring process and emerged from Chapter 11 well positioned for long-term growth. As part of its financial restructuring, the Company has equitized more than 1.6 billion dollars of secured indebtedness, and Anchorage Capital Group, L.L.C. has become the majority owner of the Company. To...

Fashion |OPINION Featured

Barneys New York, a symbol of success in simpler times

For many of us Barneys New York is more than the Manhattan mecca of minimalist cool whose fortunes are currently being ruthlessly chronicled in the Wall Street Journal or Financial Times. While these hungry pundits banter over whether the company can be saved by Tuesday’s bankruptcy filing, the sufficiency of the 218 million dollar investment,...

Management |UPDATE Featured

Iconic US department store Barneys officially files for bankruptcy

New York-based department store Barneys has filed for Chapter 11 bankruptcy protection after weeks of speculation. It has entered into an agreement with Gordon Brothers and Hilco Global, whose affiliates have provided it with 75 million dollars of new capital to stay afloat during the proceedings. As part of the restructuring, Barneys announced...

Business

Gymboree Group files for Chapter 11 Bankruptcy Protection

Gymboree Group Inc., the parent company of childrenswear brands Gymboree, Crazy 8 and Janie and Jack, has filed for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the second time in two years. The company, which operates hundreds of stores in the United States, Canada and Puerto Rico, has also announced that its...

Fashion Featured

Timeline: The American Apparel saga continues with whispers of a sale

American Apparel has found itself under the spotlight once more, as news emerges that its new owners and former creditors have hired investment bank Houlihan Lokey to investigate options for a sale. A potential sale would come six months after the LA-based retailer exited its Chapter 11 Bankruptcy and kicked started its restructuring scheme,...

Management |UPDATE

Aeropostale files for bankruptcy protection

Fast changing fashion trends have been hitting Aeropostale badly for the last several quarters, and at last it opted for Chapter 11 bankruptcy filing on Wednesday. The company is planning to shut down 154 stores in total - 113 in U.S. and 41 in Canada. It had around 800 stores and more than 14,500 staff across all the States in U.S, in addition...

Business

Aeropostale's bankruptcy causes issues with shareholder

Los Angeles - After prepping for a Chapter 11 bankruptcy, it seems that Aeropostale is only headed for more turmoil. The filing is potentially opening the teen retailer up to a conflict with one of its major shareholders: Sycamore Partners. The reason that the court filing may cause problems for its shareholders is due to Sycamore Partners’...

Report

Aeropostale's bankruptcy causes issues with shareholder

BusinessFeatured

The 'big loser' of American Apparel's filing for Chapter 11 is Dov Charney

London - American Apparel has found its way into the media spotlight once more as news broke the troubled fashion retailer filed for bankruptcy protection on Monday. The fashion company, which filed for Chapter 11 in the US Bankruptcy Court in Delaware this morning, aims to reorganise its debt - a move set to hit the company's ousted founder,...