Bankruptcy

Articles on bankruptcy in the retail industry.

  1. Corporate Strategy

Michaels Appoints Trio of Interim Leaders as CEO Search Continues

Michaels’ board of directors has established an interim Office of the CEO that will be led by three of the retailer’s existing leaders, as the company continues to search for a replacement for former CEO Ashley Buchanan, who left Michaels earlier this month to lead Kohl’s. Michaels’ current President, Heather Bennett; Chief Merchandising Officer, Stacey […]
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  1. Corporate Finance

Joann Files for Second Bankruptcy in 10 Months, Seeks Buyer

Joann has filed for bankruptcy protection for the second time in less than one year and is seeking a buyer, according to CNN and multiple media reports. The crafts retailer entered a structured bankruptcy in March 2024 but emerged as a private company a little over one month later. Joann kept all 800+ brick-and-mortar stores […]
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  1. Operations & Supply Chain

The Party’s Over at Party City; Retailer Preps to Close 700 Stores Nationwide

Party City Holdco Inc. (PCHI) has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in the Southern District of Texas and has begun to wind down retail and wholesale operations, including holding “going out of business” sales prior to closing its approximately 700 stores across the country. The retailer was attempting a […]
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  1. Channel: Dollar/Value

Big Lots’ Planned Private Equity Sale Falls Through; Retailer Commences Going out of Business Sales

Closeout retailer Big Lots has initiated going of out business sales at its remaining stores following the news that a planned sale to Nexus Capital Management has fallen through. The troubled retailer is still pursuing an alternative “going concern transaction with Nexus or another party,” with the goal of completing a sale by early next […]
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  1. Media & Marketing

David’s Bridal Acquires Wedding Media Brand, Launches Pearl Media to Create ‘Ultimate Inspiration Network’

David’s Bridal has acquired wedding media brand Love Stories TV and is launching into retail media with the debut of the Pearl Media Network. Engagement and wedding planning timelines are getting longer, according to Signet, with couples dating for 3.25 years on average before proposing. Additionally, the average length of an engagement is now between […]
3 min read
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  1. Department: Food

Has Amazon Finally Cracked the Code for Grocery Retailing?

In 2020 my beloved local Fairway went under, and for five years the store space has languished, sitting dark and empty alongside several other shuttered chains: Modell’s, Subway (although somehow the Kohl’s has survived). However, one month ago the lights turned back on — with bright green flag chains strung across the parking lot and […]
8 min read
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  1. Technology & Innovation

The Four Phases Of Internal Marketing

It is absolutely essential to face the facts when a brand is in turnaround mode. Letting everyone know exactly where the brand stands relative to where the brand should be is a critical step. Facing the facts is the starting point for revitalization. However, letting people know just how awful things are without providing the […]
6 min read
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  1. Media & Marketing

Big Lots Enhances App with In-Store Rewards Access, Personalized Dashboards

Big Lots has upgraded its mobile app, available to current and new members of its Big Reward loyalty program and offering features including in-store rewards access, a personalized dashboard for tracking earnings and exclusive notifications for special offers. Additionally, the app now provides “Rewards Ready” notifications about new rewards, maximizing members’ savings and engagement with […]
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  1. Department: Nonfood

Vitamin Shoppe Parent Company Franchise Group Enters Chapter 11, Plans to Close American Freight

Franchise Group has filed for Chapter 11 bankruptcy as part of a restructuring agreement with its primary lenders that will allow its three strongest banners — Pet Supplies Plus, The Vitamin Shoppe and Buddy’s Home Furnishings — to remain in operation. However, large durable goods retailer American Freight will be shut down as part of […]
2 min read
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  1. Retail Ecosystem

David’s Bridal Says Yes to the Dress (Again) with New Resale Program

David’s Bridal has introduced Adored by David’s, a resale program that will be managed by Arrive Recommerce. Secondhand wedding, bridesmaid and special occasion dresses, along with accessories, will be available through a curated, dedicated online storefront at 40% to 50% savings. Arrive Recommerce will be responsible for receiving and inspecting inventory, assigning value and shipping […]
2 min read
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  1. Corporate Finance

Esprit U.S. Subsidiaries File for Bankruptcy

Esprit has filed for bankruptcy protection for its U.S. subsidiaries, Esprit US Distributions Ltd. (USDS) and Esprit US Retail Inc. (USRI), according to Fashion United. The move follows Esprit’s bankruptcy filings for its European businesses in May 2024, for the second time in four years, citing “extremely high costs due to inflation, interest rates and […]
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Editor’s Choice

  1. Holiday & Events
  2. Holiday & Events

Shoppers believe best holiday deals are after holidays

A good number of consumers, over 77%, believe there are better deals available after the holidays, and nearly 51% plan to take advantage by making a large purchase in late December and January. Those are top findings from a Holiday Green survey, from CouponCabin, regarding consumer habits in the post-holiday time frame. When it comes to post-holiday […]
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  1. Trends & External Forces
  2. Data & Insights
  3. Technology & Innovation
  4. Trends & External Forces

2025 Outlook: A Snapshot into Ad Spend, Opportunities, and Strategies for Growth

IAB’s 2025 Outlook: A Snapshot into Ad Spend, Opportunities, and Strategies for Growth offering an early glimpse into ad spending trends for the coming year. The report is a must-read to gain and understanding of brand and agency buyers’ growth strategies and the challenges they foresee. The report covers: 2025 projections for the market overall […]
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  1. Data & Insights
  2. Technology & Innovation

AI at the retail edge: What’s possible now

There’s been a lot of talk lately about artificial intelligence (AI) and generative AI (GenAI) and how these technologies are going to revolutionize retail. But the retail revolution can’t be accomplished with sweeping generalizations about putting more technology into stores. Successful retail outcomes are built using technology to solve specific challenges, expanding on wins and […]
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  1. Media & Marketing
  2. Department: Consumer Durables
  3. Department: HBC
  4. ESG
  5. Media & Marketing
  6. Data & Insights
  7. Shopper & Customer
  8. Trends & External Forces
  9. Holiday & Events
  10. Merchandising
  11. Operations & Supply Chain
  12. Stores & Formats

Some retailers would benefit from a TikTok ban in 2025

TikTok Shop took the market by storm in just two years. The social media platform sold more merchandise than Sephora [LVMUY] in late 2024 according to Earnest credit card data. TikTok Shop also handily outperformed during the 2024 holiday season. But a potential ban could result in brands losing access to a vital marketing and […]
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