bankruptcy

Lord & Taylor, the oldest department store in the US, has become the latest retailer to file for bankruptcy protection. The nearly 200 year-old chain, which got its start in 1826 as a dry-goods store in Manhattan’s Lower East Side, said in a Sunday bankruptcy filing was pushed over the edge by the “unprecedented strain” …

Remington Outdoor Company, one of America’s oldest gunmakers, has declared bankruptcy for the second time in about as many years with plans to sell its business. The 204-year-old firearms conglomerate continued to struggle with weak sales after a 2018 restructuring that slimmed down its hefty debt load and handed ownership to some of its creditors, …

A shopping-mall giant and a brand-licensing firm have offered to buy Brooks Brothers out of bankruptcy for $305 million. Sparc Group LLC — a partnership between Authentic Brands Group and Simon Property Group, the nation’s largest mall operator — announced its bid late Thursday to acquire “substantially all” of Brooks Brothers’ global operations along with …

There’s a battle brewing behind the scenes at beleaguered movie theater chain AMC Entertainment. A group of lenders led by Apollo Global Management is trying to dissuade AMC from taking a debt-restructuring offer from Silver Lake Group, proposing a competing deal that would carry the cinema chain through the pandemic, The Wall Street Journal said. …

The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy protection on Thursday, the latest retailer to do so during the pandemic. Mahwah, New Jersey-based Ascena Retail Group, which operates nearly 3,000 stores mostly at malls, had been dragged down by debt and weak sales for years. As part of its bankruptcy …

The federal government is cracking down on fat bonuses for top executives of Neiman Marcus after The Post reported on the bankrupt chain’s controversial efforts to enrich its CEO. Henry Hobbs, the acting US Trustee overseeing Neiman’s Dallas, Tex., bankruptcy, blasted $10 million in bonuses Neiman has set aside for its senior staff, including CEO Geoffroy …

JCPenney said on Wednesday it would cut about 1,000 jobs and shutter 152 stores as the US department store chain looks to emerge from Chapter 11 protection and the COVID-19 crisis. The layoffs would affect corporate, field management, and international roles and eligible departing employees would receive a severance package. The company is also in …

The company that drove Dean & Deluca into bankruptcy is offering $10 million for another shot at running the gourmet grocer, The Post has learned. Thailand-based real estate company, Pace Development, which sunk millions into a failed Dean & Deluca expansion before filing for Chapter 11 bankruptcy protection in April, outlined its plan for a …

Chatham Asset Management plans to buy the bankrupt McClatchy newspaper chain in the latest hedge-fund takeover of a major news publisher. New Jersey-based Chatham was named the winning bidder Sunday of a bankruptcy auction for the publisher of 30 local newspapers including the Miami Herald, the Sacramento Bee and the Kansas City Star. The companies …

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday. Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out …