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Bankruptcy

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Charlotte Russe bankruptcy
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Business & Lifestyle

Charlotte Russe files for bankruptcy, plans to close 94 stores

SAN DIEGO (UPI) -- Women's clothing store Charlotte Russe announced Monday that it filed for bankruptcy and plans to close nearly 100 stores. The company filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware on Sunday. It plans to close 94 of its 500 stores while it looks for a buyer for the business and its assets. The company received $50 million from lenders to continue operating its Charlotte Russe and Peek stores, and […]

todayFebruary 4, 2019 11

Business & Lifestyle

Guitar company Gibson reportedly facing bankruptcy

NASHVILLE, Tenn. (Heartland Newsfeed) -- According to a report, Gibson, the iconic guitar brand whose Les Paul and SG instruments have been played by generations of musicians including Slash, Bob Marley and Carlos Santana since its 1902 founding in Kalamazoo, Mich., could be on the brink of bankruptcy.   Bill Lawrence, Gibson's chief financial officer, recently left the firm six months prior to $375 million in senior-secured notes were due to mature, according to a report by the Nashville Post […]

todayFebruary 19, 2018 9

Business & Lifestyle

Store closures rocked retail in 2017, with 2018 bound to be no different

NEW YORK (Heartland Newsfeed/CNBC) -- A larger-than-average slew of retail bankruptcies and stores being shuttered rocked the industry this year, making headlines and dragging even some of the better-performing companies such as Home Depot, TJ Maxx and Costco down with the dismal news. So far in 2017, 6,985 store closure announcements have been made, according to a tracker from FGRT (formerly Fung Global Retail & Technology). That's up more than 200 percent from a year ago, based on the firm's […]

todayDecember 27, 2017 121

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