Bankruptcy

Articles on bankruptcy in the retail industry.

  1. Channel: Drug

Report: Rite Aid to Close Hundreds of Stores in Bankruptcy Filing

Rite Aid is negotiating terms of a bankruptcy plan that could see a significant number of its more than 2,100 drugstores permanently close, according to a report. People familiar with the company’s talks with creditors told The Wall Street Journal that Rite Aid has proposed to close as many as 500 stores in bankruptcy, and either sell […]
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  1. Channel: Drug

Rite Aid could close hundreds of stores in possible bankruptcy: WSJ

​[[“value”:” The drugstore retailer is in negotiations with creditors over a plan that could see nearly a quarter of its stores shutter, The Wall Street Journal reported. Published Sept. 25, 2023 A Rite Aid storefront. As part of a possible bankruptcy filing, the pharmacy retailer is considering liquidating hundreds of stores. Permission granted by Rite […]
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  1. Corporate Finance

Prof G Markets: The Broken IPO Market, Disney’s Parks Investment, and Buying FTX Bankruptcy Claims

This week on Prof G Markets, Scott reflects on the results of the latest tech IPOs and questions if the public markets are in structural decline. He then shares his thoughts on Disney’s $60 billion investment in its parks and cruises business. Scott also discusses the latest family drama in the FTX saga, and explains […]
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  1. Channel: Grocery

Analysis:  Kroger-Albertsons Deal Still In Regulatory Trouble

The financial analysis service Seeking Alpha is out with an assessment of the prospects that the Federal Trade Commission (FTC) will approve Kroger’s proposed $24.6 billion acquisition of Albertsons. In short, Seeking Alpha is dubious, at least in part because of ongoing comparisons of the proposed divestiture of more than 400 stores to C&S Wholesale […]
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  1. Channel: Grocery

UFCW cites ‘echoes of Haggen’ in proposed C&S deal

The United Food and Commercial Workers union on Wednesday expressed deep concerns about the proposed acquisition of 413 Kroger- and Albertsons-owned stores by C&S Wholesale Grocers. “It looks like Haggen 2.0,” said Kim Cordova, president of UFCW Local 7 in Colorado and Wyoming, referring to Haggen’s 2015 implosion after acquiring 146 Safeway and Albertsons stores […]
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  1. Corporate Finance

Soft Surroundings Files for Bankruptcy, Partially Acquired by Coldwater Creek

Women’s apparel retailer Soft Surroundings last week filed for Chapter 11 bankruptcy and announced plans to close all 44 of its stores. The company’s remaining assets have been acquired by Coldwater Creek under the ownership of Newtimes Group, which plans to continue to sell Soft Surroundings’ apparel and accessories online and via catalogs. Soft Surroundings has secured $18 million […]
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  1. Department: Consumer Durables

Macy’s quietly began selling Brooks Brothers sub-brand in August

​[[“value”:” Last month, Macy’s began selling a Brooks Brothers sub-brand dubbed “B by Brooks Brothers” online and in 45 stores, a Macy’s spokesperson said by email. The collection, which includes fashion and core suit separates, chino pants, a classic navy blazer, topcoats and dress shirts, is currently only at Macy’s, but is not exclusive to […]
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  1. Channel: Ecommerce & Digital

The 25 Worst Stocks by Shareholder Wealth Losses (1926-2022)

The 25 Worst Stocks by Shareholder Wealth Losses (1926-2022) Among publicly-listed U.S. companies, the 25 worst stocks have lost shareholders a collective $1.2 trillion since 1926. Put another way, just 0.1% of all stocks have led to 14% of all cumulative losses in shareholder wealth. In this graphic, we use data from Henrik Bessembinder of […]
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  1. Channel: Ecommerce & Digital

Amazon brand incubator Benitago files for bankruptcy

​[[“value”:” Dive Brief The company has faced a reversal in the rapid growth it saw early in the pandemic as consumer trends shifted in the years since. Published Sept. 1, 2023 An Amazon sign in Seattle. Benitago develops and acquires brands optimized for sale on Amazon. David Ryder / Stringer via Getty Images “]] 
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  1. Partnerships & Alt Profit

The Weekly Closeout: Academy Sports and Outdoors expands assortment, and has pumpkin spice gone too far?

​[[“value”:” This audio is auto-generated. Please let us know if you have feedback. It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.  From a new global brand president at […]
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  1. Shopper & Customer

Is It Too Late for JCPenney to ‘Make it Count’? Inside the Retailer’s $1B Turnaround Plan

JCPenney is self-funding its latest turnaround plan, which includes a reinvestment in its core customer and a more focused value proposition.   CEO Marc Rosen shared in a briefing that given the retailer’s “strong balance sheet,” it is taking cash flow generated by the business and reinvesting it in core initiatives that will help “make every […]
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  1. Media & Marketing

A Vacation FaceTime with the Content Guy – “Wastin’ Away”

Content Guy’s Note:  Yes, I know I’m supposed to be on vacation.  But while I’m off, I’m filing daily FaceTime videos about a variety of off-the-beaten-path subjects that offer relevant business lessons.  I don’t want you to forget me, and I don’t want you to think I’ve forgotten you. The Margaritaville restaurant and hotel in […]
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  1. Corporate Finance

Rite Aid reportedly preparing Chapter 11 bankruptcy filing

​[[“value”:” Dive Brief A filing could help the retailer restructure $3.3 billion in debt and address a slew of lawsuits alleging it unlawfully filled opioid prescriptions. Published Aug. 28, 2023 A Rite Aid storefront. After years of sustained financial pressure, including opioid-related lawsuits, the company is preparing to file for Chapter 11 bankruptcy, according to multiple […]
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  1. Channel: Drug

WSJ: Rite Aid Prepping for Bankruptcy That Could Limit Opioid Lawsuits’ Impact

Rite Aid is reportedly preparing for a Chapter 11 bankruptcy filing that could take place within weeks, according to the Wall Street Journal. Quoting people familiar with the situation, the Journal reported that the move would help address the numerous lawsuits related to the retailer’s alleged role in the sale of opioids. Rite Aid had […]
2 min read
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  1. Stores & Formats

Somewhat Surprisingly, Stores Still Have the Ability to Surprise

Our regular Editors Perspectives column offer insights and opinions from the Retail TouchPoints editorial team as they dig into the latest trends in retail, marketing and tech. Is cynicism a natural facet of growing older? I can’t tell you for sure, but I can tell you that after celebrating a milestone birthday (you can probably guess, but […]
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  1. Department: Consumer Durables

Forever 21 parent and Shein strike deal to distribute both companies’ products

​[[“value”:” This audio is auto-generated. Please let us know if you have feedback. Dive Brief: Shein has inked a deal with Forever 21’s operator that would allow the fast fashion rivals to distribute each other’s products through both companies’ digital and retail channels, according to a news release Thursday. Under the deal, Shein will hold […]
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  1. Corporate Finance

Visualized: U.S. Corporate Bankruptcies On the Rise

Visualized: U.S. Corporate Bankruptcies on the Rise In March, Silicon Valley Bank collapsed, plunging its parent company SVB Financial Group into bankruptcy a week later. While many expected a wave of bank failures to follow, much of this has since been averted—but cracks have begun to emerge with Moody’s recent downgrading of 10 small and […]
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  1. Channel: Grocery

Aldi to buy 400 stores from Southeastern Grocers

BATAVIA, Ill. — Aldi today announced it has agreed to acquire Winn-Dixie and Harveys Supermarket locations from Southeastern Grocers, as the Jacksonville, Fla.-based retailer continues to divest supermarket assets. The deal includes some 400 Winn-Dixie and Harveys Supermarket outlets across Alabama, Florida, Georgia, Louisiana and Mississippi, Aldi said in a statement announcing the definitive agreement […]
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  1. Channel: Grocery

Aldi Adds 400 Stores with Acquisition of Harveys Supermarket, Winn-Dixie

Southeastern Grocers (SEG) has initiated a strategic divestiture of its business, with Aldi set to acquire all SEG grocery operations under the Winn-Dixie and Harveys Supermarket banners and investment group Fresco Retail Group set to take over the Fresco y Más banner. Under the proposed merger agreement, Aldi will acquire all outstanding SEG capital stock, […]
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  1. Corporate Strategy

Serta Simmons Bedding names COO amid turnaround

​ Dive Brief The company appointed a number of new executives this summer after it filed for bankruptcy at the start of the year. Published Aug. 14, 2023 Serta Simmons Bedding products in a room. Robert Burch has been named the company’s COO and will oversee its network of manufacturing facilities in the U.S. and […]
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  1. Shopper & Customer

Consumer product maker Amyris files for bankruptcy, lays off another 260 workers

​[[“value”:” Dive Brief The biotech company’s entire portfolio of brands, which includes JVN, Biossance and Rose Inc., is also up for sale. Published Aug. 11, 2023 A purple-gloved hand holds up a petri dish. Biotech company Amyris launched 20 years ago to develop a stable supply of an anti-malaria treatment. In recent years it has expanded […]
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  1. Department: Consumer Durables
  2. Department: Consumer Durables
  3. Corporate Strategy

Lego Abandons One of Its Projects To Make Oil-Free Bricks -FT

Danish toymaker Lego has reportedly abandoned a prominent initiative to eliminate oil-based plastics from its bricks. This decision comes after the company discovered that the new material, recycled polyethylene terephthalate (RPET), would result in higher carbon emissions. Lego’s CEO, Niels Christiansen, mentioned that extensive testing revealed it was challenging to find a material that met…
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  1. Channel: Drug
  2. Shopper & Customer
  3. Trends & External Forces
  4. Stores & Formats

CVS Is Permanently Closing Hundreds of Stores for a Surprising Reason

As the pandemic’s impact on brick-and-mortar retail lingers, the U.S. drugstore landscape is undergoing significant changes. CVS, the largest drugstore chain in America, is implementing a policy change that will lead to the closure of hundreds of stores over the next three years, aiming to optimize store locations based on population shifts and consumer buying…
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  1. Channel: Ecommerce & Digital
  2. Corporate Strategy
  3. Media & Marketing
  4. Data & Insights
  5. Shopper & Customer
  6. Technology & Innovation
  7. Trends & External Forces

Amazon Invests $4 Billion in AI Company Anthropic

Amazon will invest up to $4 billion in Anthropic and gain a minority ownership position in the company, part of a deal that will have Amazon Web Services (AWS) become Anthropic’s primary cloud provider. Anthropic will make its future AI foundation models accessible to million of developers, as well as provide AWS customers with early […]
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  1. Channel: Marketplace
  2. Partnerships & Alt Profit
  3. Media & Marketing
  4. Retailer Media

Shopify Audiences Adds Criteo, Its First Open Web Ads Partner

Shopify Audiences debuted last year with only Google and Meta. In January, Pinterest was added to the mix. Now TikTok, Snap and, notably, Criteo will be able to plug into The post Shopify Audiences Adds Criteo, Its First Open Web Ads Partner appeared first on AdExchanger.
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