Bankruptcies

2017 Worst Year on Record for U.S. Retail Store Closures

2017 Worst Year on Record for U.S. Retail Store Closures

It’s difficult to say that the retail Armageddon is being overblown when you consider 2017 is the worst year on record for store closures. In the first half of 2017, more than 300 retailers filed for bankruptcy; a 31% increase year-over-year. Since the start of the year, U.S. retailers have shuttered 6,700 stores.

Retailer Gymboree Closes 330 Stores to Exit Chapter 11 Bankruptcy, California & Florida Hit the Hardest

Retailer Gymboree Closes Stores

Gymboree Exits Bankruptcy But Will Reduce Its Footprint by Shuttering Hundreds of Stores Across the U.S. Gymboree Group Inc, the children’s apparel retailer, is another casualty in the retail industry massacre that the U.S. has experienced in 2017. The company exits Chapter 11 bankruptcy but will experience about 330 Gymboree stores closing, with some areas (more…)

Appvion Bankruptcy: Sales Decline Causes Papermaker to File Chapter 11

Appvion Bankruptcy

American Paper Industry’s Decline Forces Appleton-Based Papermaker into Bankruptcy America’s paper industry is facing a decline. The rise of digital media and smart devices is rendering print media almost obsolete. Bearing the brunt of declining paper sales are the paper manufacturers, who are now finding it hard to make both ends meet. Appleton, Wisconsin-based Appvion, (more…)

Toys “R” Us Files for Bankruptcy

Toys "R" Us Sign

The U.S.’s Largest Toy Store Files for Chapter 11 Bankruptcy Protection   Toys “R” Us, facing mounting financial pressure and unable to revive itself since a buyout saddled it with over $5.0-billion in debt more than a decade ago, has filed for Chapter 11 bankruptcy protection.