Bankruptcy

As more and more retailers file bankruptcy in pandemic-related slumps, gift-card holders are left without remedy.

The owner of bankrupt New York Sports Clubs and Lucille Roberts gyms is preparing to sell to lenders that have conceded to supply the financial backing necessary to keep the fitness chains functioning.

The new company is American Consolidated Natural Resources Inc

The company that runs New York Sports Club and Lucille Roberts gyms filed for bankruptcy protection on Monday, as business and memberships decline at gyms in parts of the nation still grapple with the novel coronavirus pandemic.

The Seattle-based high-end kitchenware store will hold liquidation sales at the closing store locations.

The move by the brand's parent, Town Sports International Inc., to seek financial relief comes after the company failed to attain financial aid to survive the global crisis, Bloomberg reported, citing sources familiar with the matter. 

The decision to "wind down of its retail operations" was made after the company's insurance providers failed to pay $175 million that was due under policies put in place to protect them from losses resulting from the COVID-19 pandemic.

Embattled retailer JC Penney gets a lifeline from two of the nation's largest landlords in a deal valued around $800 million.

Authentic Brands Group CEO Jamie Salter and Simon Property Group CEO David Simon have teamed up to buy several iconic retail brands.

Neiman Marcus Group said on Friday it expected to emerge from Chapter 11 bankruptcy by the end of this month under a restructuring plan that is likely to eliminate more than $4 billion of its debt.

The data, based on a new study by West Health and Gallup, reflects an increase from 45% of Americans who feared being crippled by medical bills in early 2019.

Courts recorded 17% increase in commercial chapter 11 filings last month from a year earlier

J.C. Penney Co. will pursue a bankruptcy sale to top lenders, including H/2 Capital Partners LLC, that would hand them equity in exchange for their debt claims.

Just months after Hertz Global Holdings Inc. shelled out $16.2 million in extra pay meant to keep executives from leaving as the coronavirus pandemic decimated the travel industry, the car-rental company wants to pass out an additional $14.6 million in bonuses.

Thin sheets of brown plywood are holding American businesses together. 

A federal judge in Alabama on Tuesday could decide whether the families of those killed in the 2012 Sandy Hook elementary school shooting can interrupt Remington’s bankruptcy proceedings.

The coronavirus pandemic has pushed U.S. companies to go bankrupt at a rate that could make 2020 the worst year for bankruptcies since 2010 during the fallout of the Great Recession, according to a new report from S&P Global.

The rural airline wants to award $250,000 in bonus money to its chief executive and other employees. 

Discount department store Stein Mart revealed Wednesday that it filed for Chapter 11 bankruptcy, saying it plans to close a "significant portion, if not all" of its 281 stores nationwide.

Brand-licensing company WHP Global Inc. has bowed out of the race for Brooks Brothers Inc., according to people familiar with the matter, leaving a venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. poised to take control of the bankrupt retailer.