chapter 11

Tabletop
Libbey Updates Reorganization Plan

As Libbey continues to navigate its recent bankruptcy filing, it has filed an amended plan of reorganization and a related disclosure statement in the U.S. Bankruptcy Court for the District of Delaware.

Retail
Marquee Brands Acquires Sur La Table

Confirming recent media reports, Marquee Brands LLC, a leading global brand owner, marketer and media company, has signed a definitive purchase agreement to acquire the Sur La Table brand and all related intellectual property.

Retail
Stein Mart Files Chapter 11

Stein Mart and its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida, Jacksonville Division.

Retail
Lord & Taylor Files Chapter 11

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.

Retail
J.C. Penney Laying Off 1,000 Workers

As the company aligns its workforce with its store optimization strategy and reduced store footprint, J.C. Penney is reducing its workforce by about 1,000 corporate, field management and international positions.

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.

Retail
J.C. Penney Slates 13 More Store Closures

J.C. Penney has taken the next step in implementing its store optimization strategy, adding 13 store closures as part of its second phase, pending court approval. Store sales are expected to begin on or around July 3.

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
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 Secures Additional Reorganization Financing

Tuesday Morning said that the company has obtained a commitment from BRF Finance Co., LLC, an affiliate of B. Riley Financial, Inc., for $25 million of debtor-in-possession financing as required by the company’s current $100-million DIP agreement with its existing lender group. With this commitment, the company has secured commitments for a total of $125 million to support the continuity of operations during Chapter 11 proceedings.

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.