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Subject: Re: Bed Bath and Bankrupt Tue Apr 25, 2023 7:17 am
Yeah maybe the fact I haven't been in one for ten years might have had something to do with it.
oliver clotheshoffe Regular Member
Posts : 1724 Join date : 2019-02-04 Age : 65
Subject: Re: Bed Bath and Bankrupt Tue May 02, 2023 3:47 pm
Tuesday Morning is going out of business and closing all stores
The retail store Tuesday Morning has begun the process to close all of its stores across the country.
“Thank you for 49 years of loyalty and support,” the business wrote in a post on Facebook.
The company announced a going out-of-business sale has started with savings of up to 30%.
The sales offer a vast selection of discounted home décor and a large assortment of toys, pet supplies, luggage, crafts and seasonal decorations, among other items.
Subject: Re: Bed Bath and Bankrupt Wed May 03, 2023 12:29 pm
Jenny Craig closing all locations: report
All Jenny Craig locations will imminently shutter, according to internal communications obtained by NBC News.
Hourly employees at Jenny Craig weight loss centers were told by email that their last day was Tuesday, NBC reported. Corporate and salaried employees’ last day is set for Friday.
Nexstar reached out to Jenny Craig for comment on NBC’s reporting, but didn’t immediately hear back.
The company, based in Carlsbad, California, offers meal plans, food delivery and coaching for clients looking to lose weight. The first Jenny Craig weight loss center opened in 1983, the company says.
Throughout the 2000s, Jenny Craig commercials were a familiar sight on television, featuring celebrity spokespeople like Valerie Bertinelli, Mariah Carey, Jessica Simpson and Jason Alexander.
By 2019, Jenny Craig had grown to 500 locations and employed about 1,000 people, NBC reported.
Reports of impending layoffs for the company have swirled in recent days, as the company warned employees it would be “winding down physical operations.”
Subject: Re: Bed Bath and Bankrupt Thu Jul 13, 2023 7:13 am
Anchor Brewery in San Francisco Closing its Doors After 127 Years
oliver clotheshoffe Regular Member
Posts : 1724 Join date : 2019-02-04 Age : 65
Subject: Re: Bed Bath and Bankrupt Sat Jul 29, 2023 9:57 pm
Yellow Trucking to File Bankruptcy on Monday: Report
After years of struggles and bailouts, Yellow Corp. Trucking Company will likely file for bankruptcy on Monday, July 31, according to The Wall Street Journal.
In 2020, Yellow received a $700 million bailout loan from the US government which is due in September 2024. Yellow is reportedly burning through approximately $10 million per day.
The Wall Street Journal reported: “Yellow has been losing thousands of shipments to other operators because of the risk that a labor dispute will disrupt its operations, according to equity analysts and industry executives. The company averted a planned strike this week by the Teamsters union that represents most of its workforce, but the customer exodus has continued.”
Subject: Re: Bed Bath and Bankrupt Mon Jul 31, 2023 8:50 am
Trucking firm Yellow Corp. files for bankruptcy, ceases all operations
After years of financial struggles, one of the largest freight carriers in the United States has reached the end of the road. Nashville, Tennessee-based Yellow Corp. has ceased all operations and filed for bankruptcy, putting some 30,000 workers out of a job.
The International brotherhood of Teamsters, which represents some 22,000 unionized Yellow workers, called the bankruptcy "unfortunate but not surprising."
"Yellow has historically proven that it could not manage itself despite billions of dollars in worker concessions and hundreds of millions in bailout funding from the federal government," Teamsters General President Sean M. O'Brien said in a statement. "This is a sad day for workers and the American freight industry."
Subject: Re: Bed Bath and Bankrupt Wed Sep 27, 2023 1:38 pm
One of America’s Largest Pharmacies Proposes to Close Hundreds of Stores in Bankruptcy
Rite Aid, one of the top-10 largest pharmacies in the United States, proposed closing up to 500 of its stores in bankruptcy.
The Wall Street Journal reported Friday the drugstore chain is “negotiating with creditors over a chapter 11 plan that would substantially shrink its operational footprint.”
If Rite Aid closed 500 stores, that would equal approximately 25% of its 2,000+ drugstores nationwide.
The Philadelphia-based company faces more than $3.3 billion in debt and over a thousand federal lawsuits alleging it oversupplied opioids, the Journal reported. The company operates more than 2,330 stores in 17 states, although it is much smaller than rivals such as Walgreens Boots Alliance and CVS Health.
Subject: Re: Bed Bath and Bankrupt Thu Dec 21, 2023 3:26 pm
Out of Juice: Electric Scooter Company Bird Declares Bankruptcy
Bird, once a promising name in the electric scooter industry, has officially filed for Chapter 11 bankruptcy protection, putting the company’s future in doubt.
CNBC reports that Bird, the electric scooter company valued at $2.5 billion by investors, has filed for Chapter 11 bankruptcy protection in a Florida federal court. The announcement came as a stark turn of events for the company, which was once a symbol of modern urban transportation. Bird’s electric scooters, advertised as an environmentally friendly alternative to traditional driving and public transit, gained rapid popularity before the onset of the coronavirus pandemic. In 2019, Bird raised over $275 million, boosting its valuation to $2.5 billion.
However, the company faced severe challenges during the pandemic as lockdowns led to a dramatic reduction in scooter rides. Despite going public through a merger with a special purpose acquisition company (SPAC) in 2021, Bird struggled to regain its pre-pandemic momentum, with its share price plummeting significantly.
In its bankruptcy filing, Bird revealed plans to sell its assets within the next 90 to 120 days, under a “stalking horse” agreement with its existing lenders, setting a minimum value for the company’s assets. Companies often do this as part of a strategic approach to handling financial difficulties while attempting to preserve some value for its stakeholders.
Subject: Re: Bed Bath and Bankrupt Mon Jan 15, 2024 8:45 pm
Kelly-Moore out of business after 'cash drain' of asbestos lawsuits
Kelly-Moore Paints announced it is immediately shutting down and closing every store nationwide after 78 years in business.
The company said it made the difficult decision to close because it has been plagued by mounting lawsuits concerning its past use of asbestos in cement and texture products under prior ownership, something that was phased out decades ago.
Kelly-Moore claims “ever-continuing case filings,” totaling somewhere in the thousands, have cost it $600 million in settlements.
"I'm extremely disappointed and saddened by this outcome, as the entire Kelly-Moore team made incredible efforts to continue innovating and serving the unique needs of professional painting contractors,” said CEO Charles Gassenheimer. “The ownership group’s commitment from day one was to fix the business if we could. Sadly, no matter how great the Kelly-Moore team, products and reputation for service, we simply couldn’t overcome the massive legal and financial burdens that have been weighing on the Company for many years.”
Neither chapter 11 bankruptcy nor in-court liquidation was a viable option, the company said.
Subject: Re: Bed Bath and Bankrupt Mon Mar 18, 2024 7:32 am
Major crafts retail chain files for bankruptcy
Crafts retailer JOANN filed for Chapter 11 bankruptcy early Monday morning. The company, with over 800 stores nationwide, is best known for selling craft supplies, home decor and sewing supplies.
The filing allows JOANN to continue to operate while it repays its debts, meaning no stores or online shopping is expected to be affected by the filing, according to a press release. Additionally, any obligations to employees, vendors, landlords and other trade creditors will be paid or otherwise satisfied in full.
According to court documents, JOANN cited increasing interest rates and decreasing sales after a spike in sales during the COVID-19 lockdown in 2021 and 2022. Despite attempts in June 2023 to reduce costs, the company held over $1.06 billion in funded debt at the time of filing.
Subject: Re: Bed Bath and Bankrupt Fri Apr 05, 2024 6:57 am
99 Cents Only stores shutting down all locations
The operators of 99 Cents Only stores announced Thursday they will close all 371 of its locations, with liquidation sales beginning Friday.
The decision was made in agreement with Hilco Global, which will manage the sale of the company's real estate assets for all locations in California, Arizona, Nevada, and Texas.
"This was an extremely difficult decision and is not the outcome we expected or hoped to achieve," interim company CEO Mike Simoncic said in a statement. "Unfortunately, the last several years have presented significant and lasting challenges in the retail environment, including the unprecedented impact of the COVID-19 pandemic, shifting consumer demand, rising levels of shrink, persistent inflationary pressures and other macroeconomic headwinds, all of which have greatly hindered the company's ability to operate."
"We deeply appreciate the dedicated employees, customers, partners, and communities who have collectively supported 99 Cents Only Stores for decades," he said.
Company officials said they conferred with financial and legal advisers in hopes of finding a way to continue operating.
"Following months of actively pursuing these alternatives, the company ultimately determined that an orderly wind-down was necessary and the best way to maximize the value of 99 Cents Only Stores' assets,'' according to a company statement.
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