Century 21 Stores has filed for Chapter 11 and plans to commence a wind down of its off-price retail operations and going out of business sales at its 13 stores across New York, New Jersey, Pennsylvania, and Florida after serving customers for nearly 60 years.
In a decision that allows the company to emerge from Chapter 11, the Bankruptcy Court for the Southern District of Texas issued a ruling confirming Neiman Marcus Group’s plan of reorganization.
Le Tote, Inc. and Lord & Taylor, which recently filed for Chapter 11, said they continue to review offers for a sale of the company and its brands. Meanwhile, the company added five more Lord & Taylor stores to the list of stores that are now participating in the store closing sale process led by a joint venture of Hilco Merchant Resources and Gordon Brothers.
Although it has faced recent challenges with coronavirus-related store closures, TJX could benefit from the market departure of a COVID-19 casualty, according to Placer.ai.
On August 2, Le Tote, Inc. and certain of its subsidiaries including Lord & Taylor, filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Eastern District of Virginia. The company will simultaneously solicit bids for a going concern sale of both its Le Tote and Lord + Taylor businesses, and conduct targeted store closing sales.
The United States Bankruptcy Court for the Southern District of Texas, in Corpus Christi, has given J.C. Penney additional time to pay rent.
Libbey Inc. has gained bankruptcy court approval for its “first day” motions related to its voluntary Chapter 11 petitions for reorganization filed on June 1, 2020.