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Ascena Files For Chapter 11 Bankruptcy, Plans Store Closures

PYMNTS

has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Eastern District of Virginia. The company said the loan, along with cash flow brought in from its continuing operations and the cash it holds, is forecasted to be enough to satisfy its “operational and restructuring” requirements after court approval.

Virginia 140
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Off-Price Retailer Stein Mart Files For Chapter 11

PYMNTS

Stein Mart said it filed motions with the court that would allow it to stay in operation, including continuing to provide staffers with their wages as well as benefits, with the court’s approval. filed for Chapter 11 in federal bankruptcy court in Virginia. In July, Ascena Retail Group, Inc.

Retail 146
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Gymboree Looks To Close With Second Bankruptcy

PYMNTS

Amid less expensive destinations for kids’ online clothing and declining traffic in malls, Gymboree Group Inc. Bankruptcy Court for the Eastern District of Virginia, Bloomberg reported. While the company is looking to shutter its Crazy 8 and Gymboree brands, a Goldman Sachs Inc. plans to close following its second bankruptcy.

Virginia 160
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Signet Jewelers Loses Its Luster; Plans To Close Some 400 Stores

PYMNTS

Its operating loss swelled to $291 million, 34 percent of sales, up from $2.6 The one bright spot was online sales, which increased to $164.7 At the start of the year, Signet operated 2,900 stores in every state sporting about a dozen names. Signet has 500 stores under the name brands of H. That’s down from $1.4

Virginia 132
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Pop-Up Retail Gets A Pop Of Fresh Energy

PYMNTS

The latest pop-up developments concern the Hollister apparel brand , which is owned by Abercrombie & Fitch. Those temporary stores also provide a way for eCommerce operators to connect with more customers in the physical real and further their own brick-and-mortar plans. Pop-Up Costs.

Retail 108
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Retail Pulse: goop Finds Stickiness In New York, Opens ‘Lab’; Nordstrom To Offer Early-Bird Pickup

PYMNTS

Digitally native brands often test the retail waters with pop-up shops, and, after some offline success, they may expand their concepts with permanent locations. It will also offer a larger jewelry selection and exclusive brands like Sidney Garber, who has bracelets that sell for $8,600 and up. In Other Brick-and-Mortar News.

New York 116
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Why community banks should partner with fintechs

Independent Banker

He finds that most fintechs white-label their mobile wallet offerings, which allows community banks to brand their own mobile wallets. If I’m an anonymous person applying online through a digital account opening process, my risk management practices have to look remarkably different.”. Elizabeth Judd is a writer in Virginia.