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Stark & Stark

Not a BIG Surprise, BIG LOTS Files for Chapter 11 Bankruptcy

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​​​​​​​Big Lots, the Ohio-based retail chain that sells furniture, home décor, and other items at almost 1,400 stores nationwide, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket...more

Arnall Golden Gregory LLP

Restructuring Roundup - June 2024

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

Arnall Golden Gregory LLP

Restructuring Roundup - May 2024

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

Stark & Stark

99 Cents Only Is Not Enough to Avoid Chapter 11 Bankruptcy

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​​​​​​​Number Holdings, Inc. the parent company of 99 Cents Only Stores LLC (“99 Cents” or the “Company”), an extreme value retail store operator, along with several affiliates, filed for Chapter 11 bankruptcy protection in...more

Ballard Spahr LLP

Bankruptcy Court Finds There Is No Excuse for Inconvenienced Creditors

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The U.S. Bankruptcy Court for the Eastern District of Virginia held recently that unsecured creditors who fail to monitor bankruptcy proceedings for treatment of their claim do not show “excusable neglect” and must face the...more

Arnall Golden Gregory LLP

Restructuring Roundup - March 2024

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

Stark & Stark

JOANN’s Chapter 11 Bankruptcy Filing: Stitching Together a Reorganization

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​​​​​​​JOANN, Inc., aka Jo-Ann Stores Holdings Inc. aka JOANN aka Jo-Ann Fabrics and Crafts, the 80-year-old, Ohio-based, arts-and-crafts operator filed for Chapter 11 bankruptcy protection in the District of Delaware...more

Goodwin

CFPB Deems Merchant Cash Advances to Be “Credit” Under ECOA

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The Consumer Financial Protection Bureau’s adopting release for its small business data collection and reporting rule goes beyond that rule by including a discussion deeming merchant cash advances to be “credit” more...more

Seward & Kissel LLP

Beyond Your Wildest Dreams, Coin Cloudy Forecast, Robinhood to Give to the Recently Poor, and No Place Like Home Décor

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Bed Bath & Beyond is closing 149 more stores | CNN - Bed Bath & Beyond has expanded its list of additional stores they expect to close, from 87 to 149. In total the company is reducing its store count from 760 to about...more

Hogan Lovells

Too little too latte: Challenge to Caffé Nero CVA fails at its final hearing

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The High Court has dismissed an application by a landlord creditor to overturn a company voluntary arrangement (CVA) implemented by coffee shop chain Caffé Nero. The CVA, previously approved by its creditors, compromised...more

Farella Braun + Martel LLP

Bankruptcy Provisions in COVID Relief Legislation Impacting PPP Loans, Commercial Leases and Preference Claims

With the COVID-19 pandemic stretching on into another year, businesses continue to experience adverse effects. Bankruptcy filings, especially among retailers, were higher than average in 2020, and it is likely that more...more

Cozen O'Connor

Yeah, About That Consignment Agreement … How You Can Lose Your Goods in a Retail Bankruptcy

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You just heard a rumor that your largest retail customer is in financial distress and may file for bankruptcy. After a moment of panic, you review your consignment agreement with the retailer (this assumes that you have a...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Identifying IP Opportunities in Today’s Economy

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COVID-19 has taken a significant toll on a variety of businesses, and despite their best efforts, some may end up in bankruptcy. For those businesses, selling IP assets may enable them to find liquidity to satisfy creditors...more

Obermayer Rebmann Maxwell & Hippel LLP

Letters Of Credit: Tool or Trap for Trade Vendors Dealing With Customers at Risk for Bankruptcy

The impact of the internet on brick-and-mortar retail, compounded by the economic devastation of the COVID-19 crisis, has created an unpredictable environment for trade vendors and service providers amid an uptick in...more

Greenberg Glusker LLP

To Ship or Not to Ship: 3 FAQ’s for Creditors Seeking Guidance Before or During a Retail Bankruptcy

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COVID-19 has impacted an already shaky retail industry and pushed some of its participants into a rapid-fire series of bankruptcy filings. Although there was already a long list of prominent retail bankruptcies over the past...more

Lowenstein Sandler LLP

How the bankruptcy system needs to change

Successful Chapter 11s for retailers have become few and far between. Sears, Toys "R" Us, Barneys New York, Forever 21, Coldwater Creek, Fred's, Fairway and A&P are just a few examples of recent retail disasters... ...more

Tucker Arensberg, P.C.

Sears Holdings Corp. Expected to Pursue 1000s of Preference Actions after Court’s Approval of Chapter 11 Plan of Liquidation

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On October 7, 2019, the United States Bankruptcy Court for the Southern District of New York confirmed Sears Holdings Corp.’s chapter 11 plan of liquidation.  Sears currently owes tens of millions of dollars to its...more

Hogan Lovells

CVAs – retail’s flexible friendship continues

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On 19 September 2019, Norris J handed down judgment in the challenge brought by six landlords against the Debenhams Retail Limited (Debenhams) company voluntary arrangement (CVA) which was approved by 94.71% of Debenham’s...more

Buchalter

Sellers and Consignors Beware? The Rights of Sellers and Consignors of Apparel and Other Goods in Bankruptcy: Some Questions and...

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Numerous published reports indicate that Barney’s (which previously filed for bankruptcy in 1996) has retained bankruptcy counsel and financial advisors in preparation for a potential bankruptcy filing which, according to...more

Blake, Cassels & Graydon LLP

Retail Insolvencies in Canada Series, #4: Lender Perspectives

This is the fourth and final instalment in a series examining large retail insolvencies in Canada from the perspective of various stakeholders. This article discusses retail insolvencies from the perspective of lenders to...more

Seyfarth Shaw LLP

Delaware Bankruptcy Court Rules Gift Cards Not Eligible for Priority Treatment

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Decision clarifies standards for priority treatment under section 507(a)(7); important implications in retail bankruptcy cases for debtors, creditors - and consumers Overview - In October 2015, City Sports, Inc....more

Seyfarth Shaw LLP

How Sports Authority’s Bankruptcy Filing Impacts Landlords and Trade Creditors, and Creates Opportunities for Retailers

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On March 2, 2016, Sports Authority, Inc. (“Sports Authority”) and six of its affiliates filed for Chapter 11 bankruptcy in Delaware. The filing will significantly impact Sports Authority’s landlords and trade creditors. In...more

Patterson Belknap Webb & Tyler LLP

Tough Choices Confront Trade Creditors When a Retailer Faces Bankruptcy

The Great Recession, which began in December 2007 and officially ended in September 2009, has been especially hard on U.S. retailers, and its impact likely will be felt for many more years. Retailers sustained record-breaking...more

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