INSIDER
Bed Bath & Beyond bankruptcy: When closing sales begin and when coupons, gift cards expire
Read full article: Bed Bath & Beyond bankruptcy: When closing sales begin and when coupons, gift cards expireStore closing sales will begin on Wednesday, April 26, 2023. All purchases made during store closing sales are final.
$24M bill has families worried their water could get shutoff in Highland Park
Read full article: $24M bill has families worried their water could get shutoff in Highland ParkThat $24 million bill has some residents worried the water to the city could get shut off. But others say bankruptcy is just another way for the city to avoid paying what it owes.
Ruling leaves questions about Boy Scouts bankruptcy plan
Read full article: Ruling leaves questions about Boy Scouts bankruptcy planA Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but has rejected other provisions, saying the organization has decisions to make regarding the plan.
‘White Boy Rick’ Wershe denounces Detroit’s effort to dismiss lawsuit due to bankruptcy
Read full article: ‘White Boy Rick’ Wershe denounces Detroit’s effort to dismiss lawsuit due to bankruptcyRichard Wershe Jr., formerly known as “White Boy Rick,” is set to appear in court Wednesday afternoon to denounce the city of Detroit’s effort to dismiss a civil lawsuit he brought against the city, several Detroit law enforcers and others for their alleged role in his decadeslong imprisonment.
Detroit Mayor Mike Duggan looks to raise minimum wage for city workers to $15 per hour
Read full article: Detroit Mayor Mike Duggan looks to raise minimum wage for city workers to $15 per hourWednesday (Feb. 9), Detroit Mayor Mike Duggan announced a plan to raise the minimum wage for Detroit city workers to $15 an hour, and with councils approval, it’s going to go in place sooner rather than later.
Get out of debt in 2021: Is it time to enlist some help?
Read full article: Get out of debt in 2021: Is it time to enlist some help?The views expressed in this article are those of the advertiser and do not necessarily reflect those of this site or affiliated companies. However, the experience and challenges are still lingering for many, especially for those who are in debt. Gold, Lange, Majoros, Smalarz, PC specializes in bankruptcy law. The law firm says it has been helping people and small businesses get out of loan debt. Overall, they want to help you get control and a fresh start.
NRA declares bankruptcy, plans to incorporate in Texas
Read full article: NRA declares bankruptcy, plans to incorporate in TexasThe NRA's bankruptcy filing listed between $100 million and $500 million in assets and between $100 million and $500 million in liabilities. Sea Girt LLC made a separate bankruptcy filing Friday, listing few assets and fewer than $100,000 in liabilities. In an interview, NRA board member Charles Cotton made clear that the bankruptcy filing was motivated by litigation and regulatory scrutiny in what he called “corrupt New York” — not financial concerns. Going forward, the NRA said a committee will study opportunities to relocate segments of its operations to Texas and elsewhere. The NRA sued the company in 2019, alleging overbilling, and said in Friday's bankruptcy filing that the debt owed is disputed.
What customers need to know about Loves Furniture’s bankruptcy filing
Read full article: What customers need to know about Loves Furniture’s bankruptcy filingWARREN, Mich. – Customers of Loves Furniture, the company that took over many closed Art Van Furniture locations, are concerned after the company filed for bankruptcy. If you’re a customer who has paid and haven’t received furniture yet, you should call your bank or credit card company immediately. Loves Furniture put blame on the COVID pandemic and the slow down of shipments from overseas. While that may be true, the new revelations of major financial problems won’t help the situation for many. READ: Customers of Loves Furniture report lengthy delivery delaysIn the bankruptcy filing, Loves revealed it has between 100-200 creditors and owes $10 million to $50 million.
Loves Furniture officially files for Chapter 11 bankruptcy
Read full article: Loves Furniture officially files for Chapter 11 bankruptcyWARREN, Mich. – Loves Furniture, the company that took over many closed Art Van Furniture locations, has filed for Chapter 11 bankruptcy. The Loves Furniture bankruptcy was filed in U.S. Bankruptcy Court on Wednesday. Art Van Furniture filed for Chapter 11 bankruptcy in March of last year. READ: Customers of Loves Furniture report lengthy delivery delaysBefore filing for bankruptcy, Loves Furniture had announced that some locations would be closing. Watch: Customers of Loves Furniture report lengthy delivery delays (Jan. 5, 2021)READ: 17 former Art Van stores in Michigan to reopen as Loves FurnitureHere are the 17 former Art Van Furniture stores in Michigan that were acquired by Loves Furniture in May, 2020:
Customers of Loves Furniture report lengthy delivery delays
Read full article: Customers of Loves Furniture report lengthy delivery delaysROYAL OAK, Mich. – Loves Furniture swooped in when Art Van went bankrupt, but now it seems the trouble might be following Loves Furniture. The company is already announcing store closures and customers are reporting experiencing lengthy delivery delays. Watch the video above for the full report. 17 former Art Van stores in Michigan to reopen as Loves FurnitureAbout two months after Art Van Furniture filed for bankruptcy and announced the closure of its store, 17 of the locations in Michigan will reopen as Loves Furniture branches. Officials from Loves Furniture made the announcement Tuesday, saying the company had acquired 27 total Art Van Furniture, Levin Furniture and Wolf Furniture locations across six states.
Lord & Taylor, Mens Wearhouse owner file for bankruptcy
Read full article: Lord & Taylor, Mens Wearhouse owner file for bankruptcyNEW YORK Lord & Taylor, America's oldest retailer, is seeking bankruptcy protection, as is the owner of Mens Wearhouse and Jos. Both filed for bankruptcy protection, separately, in the Eastern Court of Virginia on Sunday. Bank stores, was struggling even before shelter-in-place orders smothered any demand for suits or ties. Bank stores, along with K&G Fashion Superstore and Moores Clothing for Men, all owned by Tailored, with continue to operate during restructuring. About two dozen stores have sought bankruptcy protection since the pandemic started.
Brooks Brothers, worn by Lincoln and Kennedy, goes bankrupt
Read full article: Brooks Brothers, worn by Lincoln and Kennedy, goes bankruptBrooks Brothers will permanently close more than a quarter of its 200 stores. Brooks Brothers said Wednesday that it will continue operations as it restructures and is looking to reopen shops that are not being closed permanently. “The good thing about Brooks Brothers: It’s a very strong brand," he said. Brooks Brothers' two-button suits were a favorite of President John F. Kennedy. Clark Gable wore Brooks Brothers and Jennifer Aniston appeared on the cover of GQ magazine wearing nothing but a red, white and blue Brooks Brothers tie.
JC Penney closing 154 stores, including 3 in Michigan
Read full article: JC Penney closing 154 stores, including 3 in MichiganNEW YORK J.C. Penney said Thursday that it will start closing 154 of its stores next week in what it is calling the first phase of its efforts to shrink its footprint. A list of the stores closing was published on Penney's website. J.Crew and Neiman Marcus sought bankruptcy protection days before J.C. Penney. All three were laden with debt and had trouble connecting with shoppers, who are increasingly skipping the mall and shopping online. As part of its bankruptcy reorganization, Penney said it planned to permanently close nearly a third of its 846 stores in the next two years.
Pandemic claims another retailer: 118-year-old J.C. Penney
Read full article: Pandemic claims another retailer: 118-year-old J.C. PenneyNEW YORK The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. Penney is the biggest retailer to file for bankruptcy reorganization since the pandemic and joins luxury department store chain Neiman Marcus, J.Crew and Stage Stores. In fact, U.S. retail sales tumbled by a record 16.4% from March to April. The restructuring should reduce several billion dollars of its debt and provide more flexibility to navigate the financial fallout from the pandemic, Penney said. Like many department stores, Penney is struggling to remain relevant in an era when Americans are buying more online or from discounters.
17 former Art Van stores in Michigan to reopen as Loves Furniture
Read full article: 17 former Art Van stores in Michigan to reopen as Loves FurnitureDETROIT – About two months after Art Van Furniture filed for bankruptcy and announced the closure of its store, 17 of the locations in Michigan will reopen as Loves Furniture branches. Officials from Loves Furniture made the announcement Tuesday, saying the company had acquired 27 total Art Van Furniture, Levin Furniture and Wolf Furniture locations across six states. “Today’s acquisition of these locations across the Midwest and Mid-Atlantic regions represents a tremendous milestone for our company, our associates and for the communities that we serve,” Loves Furniture CEO Matthew Damiani said. "At a challenging time when many companies are looking to contract, the Loves team sees this as an opportunity to grow. Here are the 10 furniture locations outside of Michigan:
Michigan Art Van stores could reopen under new name
Read full article: Michigan Art Van stores could reopen under new nameDETROIT – A United States bankruptcy judge approved a deal that includes a private-equity firm in Texas buying 17 now-shuttered Art Van locations in Michigan. That means some Art Van furniture stores could reopen under a new name. MORE: Art Van closure creates ripple effect from employees to Metro Detroit convenience storesArt Van officially filed for Chapter 11 bankruptcy on March 8. READ: Art Van officially files for Chapter 11 bankruptcyThe company announced in March that it planned to close all of its company owned stores in Michigan, Illinois, Indiana, Missouri, and Ohio. READ: Bankruptcy filing reveals what went wrong for Art Van Furniture
Art Van Furniture to begin ‘going-out-of-business’ sales starting Friday
Read full article: Art Van Furniture to begin ‘going-out-of-business’ sales starting FridayDETROIT – The Warren-based furniture chain Art Van Furniture is planning to close all stores. The company operates under the brands Art Van Furniture, Art Van PureSleep and Scott Shuptrine Interiors. “We recognize the extraordinary retail, community and philanthropic legacies that Art Van Furniture has built for decades in the community.”The liquidation sales will begin Friday, March 6 at all Art Van Furniture, Art Van PureSleep, and Scott Shuptrine Interiors in Michigan, Illinois, Ohio, Indiana, and Missouri, and select Wolf stores in Maryland and Virginia. Art Van was founded by Art Van Elslander in 1959. Today, there are nearly 200 furniture stores operated by Art Van Furniture in Michigan, Ohio, Indiana, Illinois, Missouri, Iowa, Pennsylvania, Virginia and Maryland under the brands of Art Van Furniture, Art Van PureSleep, Scott Shuptrine Interiors, Levin Furniture, Levin Mattress, Wolf Furniture and Gardiner Wolf Furniture.
'Actively exploring options’ -- Art Van Furniture could file for Chapter 11 bankruptcy
Read full article: 'Actively exploring options’ -- Art Van Furniture could file for Chapter 11 bankruptcyWARREN, Mich. – The Warren-based furniture chain Art Van Furniture may be filing for bankruptcy. UPDATE: Art Van Furniture to close all stores; liquidation sales begin March 6According to Crain’s Detroit, the private equity owner is looking for a possible buyer for the company and might file for Chapter 11 bankruptcy. A representative for Art Van Furniture told Local 4, “We are actively exploring a variety of options with our creditors, investors and landlords to ensure Art Van can continue serving our guests and our communities. It is premature at this time to comment further as no final decisions have been made. In the meantime, our stores are open, and it is business as usual."