Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. As it undergoes reorganization, Gump’s is actively searching for a buyer. Tru Kids describes the new stores as a "highly engaging retail experience designed for kids, families and to better fit within today's retail environment." Getty. The children’s apparel retailer will also sell its Janie and Jack clothing line to Gap Inc for $35M. The chain had been a pioneer in introducing US customers to international, hard-to-get items, but growing competition from, rivals like Amazon’s Whole Foods and Trader Joe’s forced it to shutter stores after running out of cash mid-2019. While the company successfully emerged from its first bankruptcy, it was unable to stay afloat after one of its major suppliers cut ties. Payless represents one of the one of the largest retailer liquidations to date, according to the Wall Street Journal. Summary: Another mall-based women’s clothing store known for special occasion dresses, BCBG had a distinct and widely loved brand but still failed to differentiate its apparel from other department and specialty stores. Later in the month, the Cleveland-based gifts retailer won court approval to close a majority of its 400 stores as it planned to sell most of its business to Enesco, an Illinois-based company that specializes in gift ware, home decor, and accessories. Global gym chain Gold’s Gym filed its Chapter 11 in May. Once a popular online destination for streetwear, the company launched a series of ill-fated and pricey business ventures, including a failed $14M attempt to cross over into television. Summary: Art Van Furniture sold a fifth of its stores in its Chapter 11 bankruptcy filing, which was later converted to a Chapter 7. Category/Product(s): Entertainment centers. Beyond competition from other big-box retailers and Amazon, major sports leagues such as the NBA and NFL that sell team merchandise also chipped away at Sports Authority’s market share. Struggling with the challenging retail environment and significant debt from its first foray into Chapter 11 (while managing a massive footprint of about 3,400 stores in 40 countries), Payless announced it would be closing all 2,100 of its remaining stores in the US and Puerto Rico. It previously filed for bankruptcy in January 1996. While 25 stores will be closing, the remaining 33 are expected to remain open as the beauty retailer reorganizes. The company said that it plans to emerge from bankruptcy by August and will continue to operate as it restructures. The New York Times reported that the loss of its identity and the struggle to move online contributed to the downfall of Barneys New York. Going out of business sales at the accessories and apparel retailer are expected to yield $30 million in revenue. Finance look back at 2019 and the 2010s, I'm looking back at both the year and the decade. In August, a court approved the. Like many other department stores, Gump’s has grappled with an extraordinarily challenging retail environment as it battled high operating costs and a heavy debt load. Summary: Ascena Retail, which owns Ann Taylor and Lane Bryant, will close more than half of its stores — 1,600 out of 2,800 locations — according to its Chapter 11 bankruptcy filing. This created issues for customers who had previously purchased products as they no longer had a parent company through which to claim warranties. As a rebooted brand, Gymboree promises to be more digitally focused than its predecessor, with free shipping and a new app. The company has asked the court to exit 30 stores but plans to stay open as it looks to restructure debt, rationalize its retail footprint, and fulfill other financial obligations. JPMorgan’s asset management arm and other creditors will instead take control. The January 23 article goes on to say that Kansas City advertising icon Bob Bernstein (who is credited with inventing the McDonalds Happy Meal) has a strong chance of … G-Star’s CEO said that it plans to close approximately 24 stores in the US. A mounting debt, due to a leveraged buyout by a few private equity firms in 2005, along with competition from Amazon and other online merchants, caused Toys “R” Us’ ongoing crisis, which culminated in a Chapter 11 filing in September 2017. Reviving an old and well-known brand is an easy way for companies to re-enter a sector without starting from scratch, according to Neil Saunders, managing director at GlobalData Retail. After switching ownership over the years, the chain went out of business in the late 20th century. The advent of email and text messaging effectively devastated the greeting card industry, and the company says it was never able to fully recover from the Great Recession. Insights about top trending companies, startups, investments and M&A activities, notable investors of these companies, their management team, and recent news are At the same time, the average size of the trucking companies going under has risen. Logo: e-Toys.com etoys.com. The company cited issues such as industry discounting, e-commerce, and competition from fast fashion brands (which bring inexpensive designs to stores to quickly meet emerging fashion trends). Though the company’s website has a section for store information, HHGregg currently has no physical footprint. The company owns several maternity brands, including Destination Maternity, A Pea in the Pod, and Motherhood Maternity. Summary: The high-end candy brand Sugarfina filed for Chapter 11 bankruptcy in September. The company said it would shutter 200 underperforming locations right away, and look to potentially close 700 stores altogether over the next few months. Its current majority owner Lion Capital received court approval to buy the brand in July, which included a $76M credit bid. Category/Product(s): Flower delivery company. The chain, which originated in Belgium, was rescued from liquidation when it subsequently sold all of its 98 locations to food brand Aurify, at least 35 stores to continue operations. The company recently announced a new strategy that will shift its focus to Hispanic markets, establish a new pricing strategy, and streamline corporate headquarters. Gymboree had closed and liquidated 300 stores and eliminated roughly $900M in debt following its first bankruptcy in June of 2017, but it continued to steadily lose market share after that point. The debt-ridden company also had to compete with a similar product assortment as more well-known rivals such as JCPenney and Macy’s, who are also struggling. The Authentic Brand buyout was completed in June 2015. Due to operational and financial challenges, the company decided to shut down its Sport Chalet business and place a long-term strategic focus on Bob’s Stores and Eastern Mountain Sports. Holding company Valor LLC, which outbid Sears and Best Buy, bought the company’s rights and HHGregg emerged from bankruptcy in October 2017 as a purely online brand. With an increase in plus-size offerings from a range of clothing companies, Avenue struggled to hold onto its market share. David’s Bridal emerged from bankruptcy in January 2019, yet still faces considerable challenges as the marriage rate continues to decline and millennials in particular delay their trips to the altar. But innovation can quickly leave a business behind if it can’t adjust to new ways of operating, or to changing customer demand for new products and services. In late November 2017, Vitamin World won court approval to close over 100 stores and put the rest up for sale over the 2017 holiday season. 2400 people in Canada and the closure of stores as it continues to 176... Gym filed its Chapter 11 in January 2019 for bridal parties who had previously dresses! It restructures s & P Dow Jones indices LLC 2018 and/or its affiliates its! The high-end candy brand Sugarfina filed for bankruptcy protection in March 2018 digitally focused than its predecessor, the... A confluence of factors, including Destination Maternity, a Pea in late... 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