Bankruptcy & Creditor’s Rights

Dallas-based TGI Friday’s, which started in Manhattan in 1965 and was one of the first chains to capitalize on the “happy hour” concept, filed for Chapter 11 bankruptcy protection on Saturday in the Northern District of Texas, docket 24-80069. CNN reported that the company issued a statement, which communicated that… Continue reading →

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 24-11686 (JKS). AP News reported that the company cited high inflation and interest rates as reasons for… Continue reading →

Affordable gym operator Blink Holdings aka Blink Fitness, an Equinox-owned chain with more than 100 locations, filed for Chapter 11 bankruptcy protection on Monday in the District of Delaware, docket 24-11686 (JKS). At its first day hearing on Tuesday, the gym operator advised that it intended to sell all its… Continue reading →

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 filing that our office has called since publishing our Retailers to Watch for a Possible Bankruptcy Filing in… Continue reading →

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 the District of Delaware Bankruptcy Court, docket #24-10719 (JKS) on April 8, 2024. The Company is… Continue reading →

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 Bankruptcy Court, docket #24-10418 (CTG) on March 18, 2024. According to The New York Times, the retailer has a deal with its… Continue reading →

2024 holds much anticipation. The Fed rate hikes have started to reduce inflation, yet some prices remain high. Unemployment figures persist at record lows despite many large employers cutting back. Continuing supply chain issues persist as China reopens in the face of its COVID crisis. And consumer spending is tightening… Continue reading →

Rite Aid Corporation, one of the largest pharmacy chains in America, filed for Chapter 11 bankruptcy protection in the District of New Jersey bankruptcy Court, docket #23-18993 (MBK) on October 15, 2023. According to The New York Times, heavy debt, declining sales, and more than a thousand federal, state, and… Continue reading →

As reported by both NBC News and The Wall Street Journal, Rite Aid is preparing for a Chapter 11 bankruptcy filing. Rite Aid is the third-largest U.S. drugstore chain. If they pull the trigger, it is expected that 400 to 500 stores of their 2,100 stores will close, and the… Continue reading →