The turnaround efforts at Fred’s have come to an end, as the retailer has filed for voluntary relief under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware and will liquidate all remaining stores.
Published reports indicated that Sears Holdings plans to ask a bankruptcy court judge to allow the retailer to move ahead with liquidation plans.
Sears Holdings’ plans to stay in business while looking for a possible buyer was approved by a U.S. Bankruptcy Court on Thursday, November 15, despite objections by some creditors, according to a report by Reuters.
Although a relatively strong holiday season demonstrated that retail has resilience, perhaps more than pundits touting a retail apocalypse might have expected, significant bankruptcies are likely in the years ahead, according to Michael McGrail, chief operating officer for the Tiger Group.
Lowe’s Companies has filed a motion requesting that the Federal Court of Australia appoint a liquidator to oversee the equitable and orderly wind up of its Masters joint venture vehicle, Hydrox Holdings, as part of a liquidation process that has been initiated by its former partner in the venture, Woolworths.
Kmart is adding an off-price, treasure-hunt element to its business. Kmart’s strategic merchandising group said that it is purchasing the…
Despite what it characterized as a better than expected holiday sales period for the company in general, Target Corp. today…