Particularly in the current economy, it is not uncommon for purchasers, anywhere along the supply-to-distribution chain, to claim financial distress and file for bankruptcy relief.
Syms Corp. and its Filene’s Basement subsidiary said Wednesday that they have filed for Chapter 11 bankruptcy and will liquidate all stores and assets over the coming several months.
Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks.
Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks.
Blockbuster has received an extension to Feb. 4 to file its restructuring plan in order to emerge from bankruptcy protection, according to a regulatory filing with the Securities and Exchange Commission.
Battling hefty debt and intense competition, grocer A&P filed for bankruptcy on Sunday and has secured $800 million in debtor-in-possessing financing to keep the 395-store chain open and operational during the proceedings.
New York City - Blockbuster filed for bankruptcy early Thursday morning in its latest attempt to overcome nearly $1 billion in debt. The chain filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York. As part of its re-capitalization plan, Blockbuster said it would attempt to reduce its debt load to $100 million or less.