Gym chain 24 Hour Fitness is working with advisors at Lazard and Weil, Gotshal & Manges to weigh options including a bankruptcy that could come as soon as the next…
Exclusive: Neiman Marcus to file for bankruptcy as soon as this week – sources
(Reuters) – Neiman Marcus Group is preparing to seek bankruptcy protection as soon as this week, becoming the first major U.S. department store operator to succumb to the economic fallout…
Spamalot, No More? Hormel Shutters Illinois Plant Amid COVID-19 Fears
A cluster of COVID-19 cases forced health officials in Illinois to shutter Hormel’s Rochelle Foods plant on Friday. Ogle County Health Department (OCHD) said the food processing plant would be…
Goldman Now Sees A 123% Plunge In Q2 S&P Earnings, $850BN Drop In Corporate Cash Spending
With 9% of S&P 500 firms having already reported Q1 earnings including all of the major banks, results have generally disappointed relative to already tepid expectations. 43% of companies have…
Lord & Taylor explores bankruptcy during coronavirus pandemic as stores remain shut: Report
Coronavirus changing retail dramatically: Former Toys R Us CEO Former Toys ‘R’ Us CEO Gerald Storch argues many retailers, particularly department stores and mall-based apparel stores, will change dramatically as…
Reviving America after Covid-19 will take years, not months
(CNN)Does anyone really want a barber’s fingers in their face right now? Those of us who have discovered that we’re not essential to keeping society running have been stuck at…
J.Crew declared bankruptcy. Three other famous stores may follow it
New York (CNN Business)They were once the giants of American retail, strong enough to survive wars, the Great Depression, the Great Recession and the rise of online shopping. But Sears,…
Muscle’d Out: Gold’s Gym Files For Chapter 11 Due To Government Lockdowns
Gold’s Gym International Inc. filed for Chapter 11 on Monday (May 4) as a way to “facilitate the financial restructuring of the company” after nationwide lockdowns resulted in its inability to service…
Norwegian Cruise Line sees ‘substantial doubt’ about its future, warns of possible bankruptcy as it seeks to raise $2 billion
PUBLISHED TUE, MAY 5 20208:43 AM EDTUPDATED TUE, MAY 5 202012:17 PM EDT William Feuer@WILLFOIA KEY POINTS Norwegian Cruise Line said there is “substantial doubt” about its ability to continue as…
Coronavirus Continues Toll on Oil Industry: Largest North Dakota Producer Shutting Down Operations
Coronavirus Continues Toll on Oil Industry: Largest North Dakota Producer Shutting Down Operations Karen Bleier/AFP/Getty Images PENNY STARR 24 Apr 2020397 2:08 The toll the coronavirus is taking on the…