Bankruptcy & Creditor’s Rights Blog Posts A BIG LOTS Chapter 11 Lesson: Caution Needed When Doing Business with Chapter 11 Debtors February 4, 2025Vendors, landlords, and other creditors often feel a sense of security when doing business with Chapter 11 debtors. The Bankruptcy Code, and even court orders entered at the outset of a bankruptcy case, seemingly provide a myriad of protections to those engaging in business with a company reorganizing under Chapter 11. Indeed, Chapter 11 debtors often ...4 Lease Auction Tips for Landlords February 4, 2025During a retail bankruptcy, commercial landlords often face challenges when their tenants try to maximize the value of the bankrupt estate by holding lease auctions. Despite lease provisions that may restrict or prohibit a lease sale, courts have generally allowed retail debtors to conduct such sales. This is because lease clauses that attempt to limit ...Big Lots Bankruptcy Update: Pivoting from Reorganization to GOB Liquidation December 19, 2024On September 9, 2024, Big Lots, Inc. filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court in Delaware. At the time, Big Lots had entered into an asset purchase agreement with an affiliate of Nexus Capital Management LP (“Nexus”), which had agreed to acquire Big Lot’s assets and operations. Today, Big Lots announced ...TGI Friday’s Files for Chapter 11 Bankruptcy Protection November 4, 2024Dallas-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 fallout from the Covid-19 pandemic was ...Not a BIG Surprise, BIG LOTS Files for Chapter 11 Bankruptcy September 9, 2024Big 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 consumers pulling back on their home ...Don’t Close Your Eyes: Blink Fitness May Disappear in a Chapter 11 Bankruptcy Filing August 14, 2024Affordable 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 assets. FOX Business noted that Blink ...Express Fast Tracks Chapter 11 Bankruptcy Filing April 23, 2024Express, 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 2024 article, posted on March 1, ...99 Cents Only Is Not Enough to Avoid Chapter 11 Bankruptcy April 8, 2024Number 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 headquartered in Tustin, California and operates ...JOANN’s Chapter 11 Bankruptcy Filing: Stitching Together a Reorganization March 18, 2024JOANN, 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 lenders for a $132 million cash ...10 Retailers to Watch for a Possible Bankruptcy Filing in 2024 March 1, 20242024 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 in preparation for bumps in ...
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