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What do Dressbarn, Pier 1 Imports and Modell’s Sporting Goods have in common besides bankruptcies and store liquidations? They’ve all recently been scooped up by a 43-year-old self-help guru who raises chickens and cows on a ranch in Virginia, drives a Lamborghini and a Rolls-Royce and churns out blog posts like “How humans can live …
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J.C. Penney’s talks with landlords for a rescue from bankruptcy proceedings reached an impasse, pushing the department store to the brink of collapse unless it can reach a deal within days to be taken over by lenders. Discussions between the Plano, Texas-based retailer and a duo of mall owners Simon Property Group and Brookfield Property …
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Hundreds of Neiman Marcus executives just learned they could lose a chunk of their retirement savings in the swanky retailer’s bankruptcy — and some are pointing a finger at their well-compensated boss. As part of an agreement with creditors, the Dallas-based luxury chain last week quietly proposed wiping out $120.3 million owed to 430 current …
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J.Crew Group said Tuesday it expects to emerge from Chapter 11 in early September, after a bankruptcy court accepted its restructuring plan. The plan, approved by a Virginia federal court, will equitize over $1.6 billion of secured debt, and provide for $400 million in asset-based loans as well as $400 million of fresh financial aid. …
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DOVER, Del. (AP) — Disgraced Hollywood film mogul and convicted rapist Harvey Weinstein is asking a bankruptcy judge in Delaware to allow him to pursue arbitration in New York over what he claims is his wrongful termination from the company he co-founded. An attorney for Weinstein submitted a court filing this week asking the judge …
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Distressed investment firm Marble Ridge Capital plans to wind down its funds after a government report called into question the actions of its managing partner, Dan Kamensky, during the Neiman Marcus Group bankruptcy, the firm said. “After much consideration, and in light of the operating environment, we have made the difficult decision to commence an …
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Brooks Brothers will likely be sold out of bankruptcy for $325 million this week after the storied retailer’s leading suitor hiked its offer by $20 million. The New York-based clothier picked Sparc Group LLC — a partnership between mall owner Simon Property Group and brand-licensing firm Authentic Brands Group — as its winning buyer late …
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The XFL has new owners — and they plan to tackle their investment with Hollywood flair. Dwayne “The Rock” Johnson and a group of investors have scooped up the floundering football league for just $15 million in a deal that got rubber-stamped by a US bankruptcy judge on Friday. But instead of rushing to push …
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Will the real Fairway please stand up? The supermarket chain that bought Fairway Market out of bankruptcy in March says the former owners of the Big Apple grocer have been engaging in shady tactics to steal its customers for a new business. Village Super Market, which operates the ShopRite chain of groceries, claims in a …
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Virgin Atlantic, the airline founded by British businessman Richard Branson, filed Tuesday for protection in U.S. bankruptcy court as it tries to survive the virus pandemic that is hammering the airline industry. The airline made the Chapter 15 filing in U.S. federal bankruptcy court in New York after a proceeding in the United Kingdom. A …
What do Dressbarn, Pier 1 Imports and Modell’s Sporting Goods have in common besides bankruptcies and store liquidations? They’ve all recently been scooped up by a 43-year-old self-help guru who raises chickens and cows on a ranch in Virginia, drives a Lamborghini and a Rolls-Royce and churns out blog posts like “How humans can live …
