commercial bankruptcy

Toys R Us Files for Bankruptcy

Not long ago, we wrote a blog post about Toys R Us’ financial troubles and how the retailer was toying with the idea of filing for bankruptcy. On September 18th, 2017, it was made official: Toys R Us filed for Chapter 11 bankruptcy.
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Payless Shoes to File for Bankruptcy and Plans to Close 500 Stores

Payless Shoesource, Inc., a mall staple and go-to shoe supplier for consumers across the country, has announced that it will file for bankruptcy as soon as early April 2017 to address its $655 million debt. Much of this debt is outstanding payments to Chinese factories, which sparked protests at a container freight station in Xiamen, China.
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Sears, Macy’s, and Kmart Announce 2017 Store Closures

Following a holiday season of slow sales, major retailers Macy’s and Sears Holdings announced that they will be closing more than 200 stores combined during 2017. Sears Holdings, which operates both Sears and Kmart stores, will close 108 Kmart stores and 42 Sears stores during the coming months. Macy’s announced that it will shutter 68 of its stores during 2017 as part of its larger plan to close 100 stores.
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  • Newland & Newland LLP, Attorneys, Arlington Heights, IL
  • Lawyer.com