article thumbnail

Brooks Brothers Leads More Fashion Retail Troubles

PYMNTS

The retail world was rocked by more bankruptcy news on Wednesday (July 8), as Brooks Brothers officially announced its long-rumored bankruptcy and women’s fashion icon Ann Taylor was reported to be preparing for a Chapter 11 filing. The filing in Delaware allows the retailer to stay open while it crafts a plan to emerge from Chapter 11.

Retail 156
article thumbnail

Bon-Ton Is The Next Retailer To File For Bankruptcy

PYMNTS

The retailer said it voluntarily filed for Chapter 11 bankruptcy protection in Delaware and is exploring a sale, Fortune reported. Before the announcement, Bon-Ton announced it would shutter 40 out of its 260 brick-and-mortar stores across its various brands.

Retail 128
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Brooks Brothers Seeks Court Approval For $305M Stalking Horse Bid

PYMNTS

Brooks Brothers is seeking court approval for a $305 million stalking horse deal it reached with SPARC Group LLC, which is partly owned by Authentic Brands Group (ABG). The retailer said it filed a motion in United States Bankruptcy Court for the District of Delaware to receive the go-ahead for the asset purchase deal with SPARC.

Delaware 130
article thumbnail

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. The court filing took place in Delaware on Monday, April 13. Due to the pandemic forcing stores to close, around a million employees of various brands and retailers have been furloughed.

Delaware 160
article thumbnail

Sports Concessions, Dunkin’ To Test Mastercard Checkout-Free System

PYMNTS

Food and beverage stand operator Delaware North intends to test Shop Anywhere in Q4. Guests and fans coming into a stadium environment now want to quickly and safely get in and out with little to no wait times on entry and exit,” Delaware North Chief Information Officer Jeffrey Wilkinson said in the report.

Delaware 150
article thumbnail

Garment Factories Reeling As Importers Stop Orders Among Weak Sales

PYMNTS

The coronavirus pandemic has caused a rift in the relationship between apparel manufacturers and retailers, resulting in lost profits and canceled payments as the economy slogs through the mud, according to The Wall Street Journal. In Bangladesh, jeans maker Denim Expert Ltd. In Bangladesh, jeans maker Denim Expert Ltd.

Delaware 151
article thumbnail

Victoria’s Secret Buy Invalid After Staff Furloughs, Lawsuit Says

PYMNTS

Sycamore Partners, the private equity firm seeking to buy out Victoria’s Secret, is now looking at backing out of the deal after the retailer closed its U.S. That move, made by parent company L Brands, also included not paying April rent, a decision now commonly made by businesses not making money during the pandemic.

Delaware 117