bankruptcy

Tabletop
Libbey To Shutter Shreveport Factory

As Libbey continues to navigate its Chapter 11 filing, the company plans to close its Shreveport, LA, factory. The closure is part of cost reduction measures and to better align manufacturing capacity with lower levels of projected demand.

Retail
Sur La Table Files Chapter 11

Sur La Table has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to consummate a restructuring and going-concern sale of the company, subject to court approval.

Financials
Libbey Reports Net Loss In Q1

Libbey reported its first quarter revenue was down with a net loss of $78.7 million in the period ending March 31. The loss comes on the heels of the company filing for a court-supervised reorganization under Chapter 11.

Retail
Coronavirus Threatens Stein Mart Survival

As it filed its annual 10-K report with the United States Securities and Exchange Commission on June 15, Stein Mart executives warned that the company might not be able to continue operations due to pressures related to the COVID-19 pandemic.

Retail
J.C. Penney To Close 154 Stores

Following a comprehensive evaluation of its retail footprint and a careful analysis of store performance and future strategic fit for the company, J.C. Penney identified the first phase of 154 store closures.

Retail
Tuesday Morning Files Chapter 11

Tuesday Morning will pursue a financial and operational reorganization designed to allow the company to reduce its outstanding liabilities and strengthen its overall financial position. To pursue this reorganization, Tuesday Morning filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division.

Retail
Pier 1 Imports To Liquidate Operations

After a long struggle to improve operations and financial performance, resulting in a Chapter 11 filing, Pier 1 Imports has filed a motion seeking bankruptcy court approval to begin an orderly wind-down of the company’s retail operations after store locations are able to reopen following COVID-19-related closures.

Retail
J.C. Penney: Company Must Emerge From Chapter 11 Quickly

J.C. Penney stated in a bankruptcy court document that it must emerge from Chapter 11 quickly in preparation for the 2020 holiday season, shortly after announcing that it had received approvals from the U.S. Bankruptcy Court for the Southern District of Texas regarding First Day motions related to the company’s voluntary Chapter 11 petitions, including approval for it to access and use its approximately $500 million in cash collateral.

Retail
Stage Stores Files For Chapter 11

Stage Stores has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The company will simultaneously solicit bids for a going concern sale of the business or any of its assets and initiate an orderly wind-down of operations. The company will terminate the wind-down of operations at certain locations if it receives a viable going-concern bid.

Retail
Neiman Marcus Files For Bankruptcy

Neiman Marcus has filed Chapter 11 and entered into a restructuring support agreement with a significant majority of its creditors to undergo a financial restructuring, substantially reducing its debt load and interest payments and supporting continued operations during the COVID-19 pandemic and beyond.

Retail
Report: J.C. Penney Moves Closer To Bankruptcy Funding

With the coronavirus pandemic shutting down non-essential shopping across the U.S., J.C. Penney is said to be in advanced talks with bank lenders for a bankruptcy loan as large as $1 billion to carry it through a potential chapter 11 process, The Wall Street Journal reported.

Retail
Pier 1 Paves Way For Additional Closures, Extends Furloughs

With the COVID-19 pandemic and a Chapter 11 bankruptcy filing continuing to pressure the business, Pier 1 Imports is extending employee furloughs and continuing pay reductions even as it has been mailing conditional notices to staffers in its home office, customer relations call center and distribution and fulfillment centers about potential operations closures as it moves to meet requirements of the federal Worker Adjustment and Retraining Notification Act.

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