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Express, Inc., the fashion mall retailer, filed for Chapter 11 bankruptcy protection in the District of Delaware Bankruptcy Court, docket #24-10831 (KBO) on April 22, 2024. This is the second retailer bankruptcy...more
AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains...more
The transition to online shopping, interest rate increases, labor costs, maturing debt and rising inflation have collectively taken a significant toll on the retail industry, contributing to store closures and a growing...more
Revlon Bankruptcy Complicated by Citi’s $900 Million Error | Financial Times - As Revlon prepares for restructuring negotiations following its bankruptcy filing last week, it faces complications with identifying its...more
Industry News - Archdiocese of Santa Fe's bankruptcy case plods along... The Purdue Bankruptcy Didn’t Work...more
COVID-19 split the retail financing market—players of scale with online capabilities thrived, while retailers reliant on brick-and-mortar stores for the bulk of their earnings came under increasing financial pressure - ...more
The COVID-19 pandemic has forced big-name brands to pursue unique strategies to secure fiscal relief. Even prior to the pandemic’s outbreak, certain retailers experienced financial difficulties and filed for Chapter 11...more
Since the early days of the COVID-19 crisis in the U.S., it has been a recurring theme to turn on the news and see that yet another big-name retailer is rumored to be on the brink of filing, or has already filed, for...more
Twitter will pay the Federal Trade Commission up to $250 million to “resolve new charges . . . that the social media giant breached a 2011 consent decree by using data provided for security purposes to target users with...more
The significant disruptive change expressed by panelists from the Bay Area and Southern California in the latest Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey is an extension of the trends from...more
Previously we reported on debtors’ appeals to bankruptcy courts’ general equitable powers for assistance in weathering the COVID-19-induced economic storm. ...more
In Washington - House Republicans sent a letter to leadership asking that unemployment benefits be excluded from the next coronavirus relief package. Rep. James Comer (R-TN) said “Numerous employers in my home state of...more
Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified...more
Kramer Levin was selected as counsel to the Official Committee of Unsecured Creditors of Forever 21 and its affiliates, which filed for Chapter 11 protection in Delaware on Sept. 29, 2019. Forever 21 is a specialty fashion...more
The last several years have been treacherous for the retail sector. Changing shopping patterns and shifting demographics have led some commentators to declare that the (retail) apocalypse is upon us. ...more
This year marks the first Christmas in modern memory without Toys "R" Us, Inc. The loss of the international toy seller leaves billions of dollars in toy sales up for grabs, and its slow and steady decline may serve as a...more
Sears (Sears Holdings Corporation) filed for bankruptcy protection under Chapter 11 in the Southern District of New York on Monday. ...more
The failure of Toys ‘R Us to successfully reorganize in Chapter 11 sent shockwaves throughout the retail world and the restructuring community. Saddled with unsustainable debt and unable to chart a viable path forward, the...more
Continuing low interest rates and generally improved economic conditions in the U.S. and worldwide during 2017 have reduced financial distress and the need for business bankruptcies in most sectors. However, out-of-court...more
On September 18, 2017, the iconic US-based retailer Toys “R” Us filed for Chapter 11 in the US Bankruptcy Court for the Eastern District of Virginia in front of Judge Keith L. Phillips. The company filed twenty-five entities,...more
It would be an understatement to say that 2017 has been a difficult year for the retail sector. Store closings and bankruptcy filings punctuate the news almost daily. However, challenges beget opportunities, and this...more
Despite the downturn in many retail sectors, retailers should not automatically adopt a “glass half empty approach” but instead view the impending cycle as creating opportunities for companies in both the U.S. and globally. ...more
The holiday shopping season has long been the most important time of the year for many retailers. In the past, it has been common for troubled retailers to file for bankruptcy protection in the months following the holiday...more
On February 4, 2015, women’s clothing retailer, Cache Inc., filed a chapter 11 bankruptcy case in Delaware. The petition lists the top 30 unsecured creditors. Two of the largest creditors are landlords Simon Property Group...more