Bankruptcy

Articles on bankruptcy in the retail industry.

  1. Stores & Formats

What’s in Store for 2024: Which Retailers Are Branching Out (and Why Some Are Going Away)

2024 looks to be another year of growth for retail, with more than a dozen retail chains already announcing plans for expansion this year. I always love to see headlines about retailers opening new stores. It shows that retail businesses are healthy enough to invest in expanding their physical store footprints. And as a long […]
2 min read
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  1. Corporate Finance

Fabric and Craft Retailer Joann Files for Bankruptcy

Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement released on Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in funding with most of its financial stakeholders that helps reduce its […]
2 min read
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  1. Corporate Finance

Joann Enters Structured Bankruptcy; Stores and Site to Remain Operational

As it seeks to find firmer footing, Joann has entered a Transaction Support Agreement (TSA) with a majority of its financial stakeholders and other parties that includes commitments for approximately $132 million in new financing. The 800+-store crafts retailer has initiated voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the District of […]
2 min read
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  1. Stores & Formats

Kohl’s to Add Babies R Us Shop-in-Shops to 200 Stores

Kohl’s said Tuesday that it’s teaming up with the owner of Babies R Us to bring baby gear, furniture and more to approximately 200 of its stores across the country, reports CNBC. The department store chain struck a licensing deal with WHP Global, a brand management firm with a portfolio that includes Bonobos, Joe’s Jeans, […]
2 min read
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  1. Stores & Formats

Kohl’s is Expecting…Babies ‘R’ Us Shop-in-Shops to Arrive at 200 Locations Later This Year

WHP Global is following a familiar playbook for its relaunch of Babies ‘R’ Us. After opening the brand’s first brick-and-mortar location since its 2018 bankruptcy in July 2023, the company has now announced plans to bring Babies ‘R’ Us shop-in-shops to 200 Kohl’s locations this year. After filing for bankruptcy and shuttering all its U.S. stores, Babies […]
2 min read
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  1. Corporate Finance

The Body Shop Ceases its US Operations

The Body Shop has ceased its U.S. operations and is closing dozens of locations in Canada amid deepening financial struggles for the British beauty and cosmetics chain. The Body Shop’s U.S. arm ceased operations on March 1, according to a company announcement from earlier this month. And the brand’s Canadian subsidiary commenced liquidation of 33 […]
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  1. Acquisitions, Divestitures & Mergers

Beyond Acquires Zulily, Plans to Revive Brand in Q2

Beyond, Inc. — parent company of Bed Bath & Beyond and Overstock.com — has acquired the intellectual property of defunct flash-sale retailer Zulily, following that platform’s abrupt wind-down of its business in late 2023. Newly appointed Beyond, Inc. Executive Chairman Marcus Lemonis said the acquisition is aimed at strengthening Beyond’s position in the off-price market. Beyond paid $4.5 million in […]
3 min read
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  1. Channel: Mass

Burlington Plans to Open 100 New Stores in 2024

Off-price retailer Burlington Stores beat expectations for Q4 2023 (the 14 weeks ended Feb. 3, 2024), with total sales increasing 10% and comparable store sales growing 2% year over year. The quarter closed out a steady year for the chain, with comp store sales up 4% in fiscal 2023, although on an earnings call discussing […]
2 min read
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  1. Department: Consumer Durables

Frasers to Shutter Matchesfashion Just Months After Acquisition

Frasers Group is shutting down luxury ecommerce site Matchesfashion just three months after acquiring the business, saying in a statement that “continued funding requirements would be far in excess of amounts that the Group considers to be viable.” As a result, Matches has been put into administration, the UK equivalent of bankruptcy. Since rebranding from […]
< 1 min read
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  1. Trends & External Forces

Rite Aid to divest most Health Dialog assets

PHILADELPHIA — Rite Aid Corp. today announced that it has entered into an asset purchase agreement (APA) for the partial sale of its Health Dialog business to Carenet Health (Carenet), a provider of healthcare engagement, clinical support, telehealth and advocacy solutions. Health Dialog provides personalized population health solutions to improve the health of members while […]
2 min read
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  1. Corporate Finance

Liquidity Issues For California’s Almond Industry

From the Los Angeles Times: “For much of the last decade, almonds have been such a lucrative crop that growers and investment firms have poured money into planting new orchards across vast stretches of California farmland. “Now, the almond boom has fizzled and the industry has entered a slump. Prices have dropped over the last […]
< 1 min read
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  1. International

Body Shop Canada Follows UK Division into Bankruptcy; U.S. Division Ceases Operations

The Body Shop Canada has filed a Notice of Intention (NOI) to file for protection under the country’s Bankruptcy and Insolvency Act, following a similar filing by the retailer’s UK arm last month. The Body Shop Canada has ceased online sales, and while its stores remain open, the company plans to close 33 of its […]
2 min read
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  1. Channel: Drug

UPDATE: Rite Aid Plans to Close Another 77 Stores in 2024

Update 3/4/2024: As part of its financial reorganization, Rite Aid plans to close an additional 77 stores this year, according to multiple media reports. When it officially entered bankruptcy in October 2023, Rite Aid said it planned to close 154 underperforming stores, and in December 2023 multiple sources reported that Rite Aid planned to close […]
2 min read
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  1. Channel: Ecommerce & Digital

Amazon Aggregator and Former ‘Unicorn’ Thrasio Files for Bankruptcy

Thrasio, one of the highest-profile Amazon “rollup” firms — so-called because they acquire Amazon third-party sellers en masse and roll them up into a larger entity to consolidate operations (and ideally scale profitability) — has filed for bankruptcy in an effort to “strengthen its financial position.” Thrasio said it will continue normal business operations for […]
2 min read
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  1. Stores & Formats

Party City Debuts Store Format Spotlighting Balloons and Birthdays

Party City will accelerate remodels to expand a new store format that features a dedicated service area for the retailer’s extensive balloon assortment along with “birthday worlds,” designed to be one-stop shops for both kids’ and adults’ celebrations. The retailer, which emerged from bankruptcy in October 2023 with a fleet of more than 750 stores, […]
2 min read
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  1. Data & Insights

Exclusive: How Daniel’s Jewelers is Using Vision AI to Better Serve its Customers

In the more than 70 years since Joseph Sherwood bought a bankrupt jewelry store in Bell Gardens, Calif., much has changed in the world, and in retail. That post-WWII period in the Western U.S. was marked by the Dust Bowl Exodus, now a distant memory for most. Since then, the demographic makeup of California has […]
7 min read
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  1. Shopper & Customer

Beyond Accelerates Overstock Resurrection Following ‘Fatal’ Branding Mistake

Beyond, Inc., owner of online retail brands Bed Bath & Beyond (BB&B) and Overstock, will bring back a standalone Overstock.com site in approximately five weeks rather than the September 2024 target date announced earlier. Beyond rechristened its Overstock site with the Bed Bath & Beyond name in June 2023 after it acquired the bankrupt retailer’s […]
2 min read
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  1. Corporate Strategy

Beyond Inc. Names New CEOs for Bed Bath & Beyond, Overstock

Beyond Inc., parent company to Overstock.com, Bed Bath & Beyond, and other online brands, announced Tuesday three leadership changes, including two new CEOs. Chandra Holt, formerly the CEO and president of Conn’s Home Plus, will become the new CEO of Bed Bath & Beyond effective Wednesday. Dave Nielsen, who until now was serving as president […]
< 1 min read
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  1. Corporate Strategy

Bed Bath & Beyond, Overstock Get New CEOs

Beyond, Inc. — parent company of Bed Bath & Beyond and Overstock.com — has appointed new CEOs for both brands, and also named Camping World CEO and TV personality Marcus Lemonis as Executive Chairman of its board of directors. The appointments follow the abrupt departure of former Beyond CEO Jonathan Johnson in November 2023. Johnson […]
3 min read
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  1. Acquisitions, Divestitures & Mergers

Guess?, WHP Global Team Up to Buy Rag & Bone

Guess? has partnered with the global brand management firm WHP Global — which owns the Toys ‘R’ Us and Babies ‘R’ Us brands as well as a stake in Express — to acquire the New York-based fashion brand Rag & Bone. The deal is expected to close during Q1 of the Guess? 2025 fiscal year, […]
3 min read
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  1. Media & Marketing

Claire’s Continues Lifestyle Push with Plans for Branded Products

Claire’s evolution from retailer to lifestyle brand continues with the appointment of IMG as its global licensing partner to create a range of Claire’s-branded products. Under the multi-year agreement, IMG will bring to market complementary products that support Claire’s brand purpose of inspiring self-expression and individuality, in categories including apparel, fashion accessories and room décor […]
< 1 min read
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  1. Trends & External Forces

Worth Reading:  Out Of Body Experience

The BBC has a good story about what went wrong at The Body Shop, a trailblazing retailer in the eighties that recently  has been placed in administration, which is like filing for bankruptcy. An excerpt: “The Body Shop of today is facing a crisis. Its new owner – the third in seven years – has […]
< 1 min read
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Kroger Delivers its First-Party Data to the Yahoo DSP

Yahoo Advertising and Kroger Precision Marketing (KPM) — the retail media business of Kroger, powered by 84.51° — are teaming up to bring Kroger’s first-party, purchase-based audiences to the Yahoo Demand-Side Platform (DSP). Yahoo DSP advertisers can now activate KPM’s audiences to reach targeted consumers with their advertising and measure campaign results. While off-site advertising […]
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Amazon tops expectations for revenue, earnings

SEATTLE – Amazon posted better-than-expected revenue and earnings in the quarter ended March 31. Net sales increased 13% from a year earlier to $143.3 billion. The company reported first-quarter net income of $10.4 billion, or 98 cents a diluted share, compared to $3.2 billion a year earlier. Amazon’s operating income surged to $15.3 billion, up […]
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  10. Stores & Formats

Walmart to close all 51 health centers

BENTONVILLE, Ark. — Walmart today said it has made the “difficult decision” to close its Walmart Health and Walmart Virtual Care clinics, citing a lack of profitability. “The decision to close all 51 health centers across five states and shut down the virtual care offering was not easy. We understand this change affects lives – […]
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