Bankruptcy

Months after Big Lots publicly announced signs of trouble, the home goods and seasonal retailer is selling its business as it starts bankruptcy proceedings.

After facing significant financial woes and filing for Chapter 11, Red Lobster has been cleared to exit bankruptcy and will be acquired by RL Investor Holdings LLC.

National retailer LL Flooring, previously known as Lumber Liquidators, has announced it will close, resulting in around 2,000 workers losing their jobs.

Bankruptcies among major restaurant chains have surged this year, already nearly doube the number in 2023. One expert explains several factors are fueling the trend.

Discount retailer Big Lots is considering filing for bankruptcy as it faces declining sales, according to a report citing people familiar with the situation.

Red Lobster lenders select former P.F. Chang's CEO Damola Adamolekun to run the struggling seafood chain upon its emergence from Chapter 11 bankruptcy.

Mediterranean restaurant chain Roti on Friday filed for Chapter 11 bankruptcy protection. Roti submitted its petition to the U.S. Bankruptcy Court for the Northern District of Illinois.

Red Lobster said in a court filing it plans to close another 23 restaurants by the end of the week as part of its ongoing Chapter 11 bankruptcy restructuring.

Beauty brand Avon Products filed for Chapter 11 bankruptcy to address its debt burden and legal liabilities from lawsuits related to allegedly contaminated talc-based products.

Johnson & Johnson is reportedly nearing enough support to finalize a $6.5 billion settlement for lawsuits related to cancer cases linked to its baby powder and other talc products.

LL Flooring filed for Chapter 11 bankruptcy in Delaware on Sunday as the company aims to reduce its physical footprint and close certain stores while pursuing a going-concern sale.

Blink Fitness sought bankruptcy protection to help "execute an efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success."

Buca di Beppo filed for Chapter 11 bankruptcy in a Texas court on Monday, the family-style Italian restaurant chain announced. It has plans for a restructuring.

Home goods and furniture retailer Conn’s Inc. intends to shutter dozens of its HomePlus locations after filing for Chapter 11 bankruptcy protection in a Texas court.

New figures published by S&P Global Intelligence show that 75 companies filed for bankruptcy in June, the highest number recorded in one month since 2020.

Bob’s Stores on Monday announced the impending closure of every one of its nearly two dozen clothing retail stores. Its stores are located in six Northeastern states.

Chicken Soup for the Soul Entertainment has filed for Chapter 11 bankruptcy in Delaware, with nearly $1 billion in debt, two years after purchasing DVD rental company Redbox.

Rite Aid on Monday filed a “notice of additional closing stores" identifying 27 locations in Michigan and Ohio that it has added to the chopping block.

California-based electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection on Monday after burning through cash reserves on its Ocean SUV line in the U.S. and Canada.