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Jeans Maker True Religion Files For Chapter 11 Bankruptcy

PYMNTS

Premium jeans brand True Religion has filed for bankruptcy for the second time in three years, according to court filings. But the brand’s presence in other struggling stores like Macy’s and Neiman Marcus has not helped its standing as of late, a Bloomberg report noted.

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Groupon Gets New Activist Investor

PYMNTS

The filing said that Merage will possibly engage in discussions with the board of directors, as well as discuss capitalization, ownership structure and board compensation or operations — and could potentially buy more shares. He is also seeking a seat on Groupon’s board. Groupon was MIG Capital’s largest stake in a previous SEC filing.

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Best Buy’s Board Loses Former CEO

PYMNTS

Anderson has a long and winding history with Best Buy , assuming the roles of president and chief operating officer from 1991 to 2002, when he moved a few rungs up the ladder to CEO, where he remained until 2009.

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Cosi Files For Bankruptcy

PYMNTS

We believe this process will allow the company to right-size its balance sheet, reduce its debt and focus on improving the business and stabilizing the brand,” Bennett added. Cosi has been traded on the Nasdaq since 2002 and saw its share price peak at around $40 per share in 2006.

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Walmart May Be Looking To Sell Off Its Japanese Business

PYMNTS

Walmart has been operating in Japan for the last 16 years — a time described as “tumultuous” by the Financial Times ( FT ). Walmart first purchase Seiyu in 2002, but has faced difficulties gaining traction in the extraordinarily challenging Japanese market. As Walmart is refocusing its efforts in the U.S.

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Interswitch in Kenya

Bankelele

Interswitch is a Nigeria-based, transaction switching and electronic payments processing company, with operations in several African countries. Interswitch also owns Verve International which is the largest card brand in Nigeria with almost 30 million customers. 320 million (~$3.7

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Here Are 35 Casualties Of The Retail Apocalypse And Why They Failed

CB Insights

Modern-day retail is at an inflection point as retailers face struggling physical storefronts, massive debt, and inefficient operations, among other issues. Formerly beloved brands such as Aeropostale, American Apparel, and PacSun bit the dust in 2016, and the pace of retail deaths has accelerated since then. Toys “R” Us.

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