PHILADELPHIA — Rite Aid plans to plans to close about 7% of its stores initially, as the drugstore chain makes its way through its Chapter 11 bankruptcy process. The company submitted a list of 154 stores in a court filing. Most of the chain’s stores are on the East and West Coasts, and the list reflects
CHICAGO – A “quick pulse survey” from Numerator provides some hints at where Bed Bath & Beyond customers will shop for home goods and personal care items after the retailer shuts all of its 360 Bed Bath & Beyond and 120 Buy Buy Baby locations by the end of June. The market-research firm said it
DALLAS — Fred’s announced Monday that the company has filed for voluntary relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The company has also filed a motion seeking interim and final approval of the U.S. Bankruptcy Court to enter into a proposed debtor-in-possession financing agreement
GREEN BAY, Wis. — Shopko Stores Operating Co. filed for Chapter 11 bankruptcy protection on January 15 and said it would shutter more than 100 stores as part of its reorganization plan. In seeking court protection from creditors, Shopko cited assets of less than $1 billion and liabilities of between $1 billion and $10 billion.
WILLIAMSVILLE, N.Y. —Tops Markets LLC said Monday that it has successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy protection. The company, which operates 159 full-service supermarkets as well as five franchised stores, said it is emerging with a substantially stronger balance sheet. Tops reduced its debt by about $445 million and has
HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of two storied firms that once ranked as the nation’s two largest retailers, filed for Chapter 11 bankruptcy earlier this month. The company’s reorganization plan calls for the closure of 142 additional Sears and Kmart stores, in addition to the previously announced closure of 46
The recent Chapter 11 bankruptcy filing by Sears Holdings Corp. offers another reminder, as if anyone in the industry needed one, of how fragile success in retailing can be. Sears in its prime was as disruptive as Amazon.com is today, and, in fact, it pioneered shopping from home (via catalogs and the U.S. Postal Service)
JACKSONVILLE, Fla. — Southeastern Grocers announced it has completed a financial restructuring under chapter 11 of the Bankruptcy Code and is poised to compete in an unforgiving retail environment. The owner of the Winn-Dixie, BI-LO, Harveys and Fresco y Más grocery chains said bankruptcy protection allowed the company to transform its financial profile and reduce
JACKSONVILLE, Fla. — Southeastern Grocers filed for Chapter 11 bankruptcy in Delaware on March 27 to implement a pre-packaged reorganization plan. Earlier in the month, the company announced that it had reached agreement with 80% of its creditors and its private equity sponsor on a prepackaged restructuring that would permit it to operate 582 Winn-Dixie,
JACKSONVILLE, Fla. — Southeastern Grocers is shuttering 94 stores as it files for Chapter 11 bankruptcy protection and undertakes a restructuring. The operator of the Winn-Dixie, BI-LO, Harveys and Fresco y Más chains will continue to run its 582 other stores as it seeks a new route to long-term financial health. President and chief executive
JACKSONVILLE, Fla. — Southeastern Grocers on Thursday announced it would close 94 underperforming stores as it files for Chapter 11 bankruptcy protection and executes a restructuring. The owner of the Winn-Dixie, BI-LO, Harveys and Fresco y Más chains said it would continue to operate its 582 other stores as it pursues a new path to
INDIANAPOLIS — Marsh Supermarkets LLC could close all of its remaining 44 stores if no buyer is found by early July. The chain filed for Chapter 11 bankruptcy protection this month to maintain operations as it seeks a purchaser. While the filing was “extremely difficult, we believe this action is necessary to preserve the value