#chapter-11-bankruptcy

#chapter-11-bankruptcy

It's an area where van Raemdonck certainly has relevant experience: In 2018, he became CEO of Neiman Marcus Group (which included Bergdorf Goodman), then struggling under the weight of heavy debt from years of private equity ownership. This time around, as CEO of Saks Global, which also piled on debt stemming from the $2.7 billion union in 2024, he'll have an even tougher job with multiple chains to fix.

Every year, the stores down Manhattan's Fifth Avenue dress up their windows at Christmastime. Tourists from all over the world come to gawk at all the glitter, lace, ruffles and bows. Saks's Fifth Avenue location, so iconic that it's embedded in the brand's name, is usually dressed top to bottom during the holidays. In 2023, the store partnered with Christian Dior to display a giant zodiac calendar.

Lidar-maker Luminar says its founder and former CEO Austin Russell has been evading requests for information - including a subpoena - that the company needs in order to decide whether it should take legal action against him. The company, which entered the Chapter 11 bankruptcy process in late December, said in an emergency filing over the weekend that it has been trying to reclaim company-owned devices from Russell since his resignation in May.

Cooking television show America's Test Kitchen has agreed to purchase recipe site Food52, which said it was forced to file bankruptcy after its lender unexpectedly swept cash from its bank accounts. The offer from America's Test Kitchen is worth $6.5 million and will gives Food52 a path out of Chapter 11 under new ownership. The stalking horse bid is subject to better offers should any materialize in the coming weeks.

IRobot, which became well known for its robotic vacuums, has struggled of late, dealing with increased competition, layoffs and a declining stock price. In 2022 Amazon announced that it had agreed to buy iRobot for about $1.7 billion, but that deal was called off last year. Amazon blamed "undue and disproportionate regulatory hurdles" after the European Union signaled its objection to the transaction.

Lidar company Luminar has filed for Chapter 11 bankruptcy protection after months of layoffs, executive departures, and a legal fight with its largest customer, Volvo. The company aims to sell off its lidar business during the bankruptcy proceeding, and has already reached a deal to sell its semiconductor subsidiary. While the company will continue to operate during the bankruptcy process to "minimize disruptions" for its suppliers and customers, Luminar will eventually cease to exist once it's completed.

American Signature Inc (ASI), parent company of American Signature Furniture and Value City Furniture, said Sunday that it has secured $50 million in debt financing as it seeks a buyer in an auction process. Here's what to know. What is ASI and why is it bankrupt? Founded it 1948 and based in Columbus, Ohio, American Signature Inc is the parent company of two home furnishings retail chains: American Signature Furniture and Value City Furniture.

WeWork Inc. (formerly trading as WEWKQ) was the poster child for taking advantage of the gap in the market with the offering of flexible office space to freelancers. They rose with rapid expansion during the 2010s. Now, after filing for Chapter 11 bankruptcy and restructuring its business model, traders and investors face an important question: can the company rise from the ashes into a market that has changed?

The sales prices suggest something modest, even forgettable. But the real estate transactions are weighted with meaning. The Catholic Diocese of Santa Rosa recently gained approval to sell two small churches - one near Cloverdale, one in Hopland - as part of its Chapter 11 bankruptcy case, a judicial process now 2½ years old. They probably won't be the last properties liquidated by the diocese as it continues mediation talks with insurance companies and with survivors of alleged sexual abuse,

Popular teen accessories and ear-piercing outlet Claire's, which announced earlier this month they are filing for Chapter 11, has begun shuttering stores in the Bay Area. This is the second time the chain has filed for bankruptcy since 2018 citing large debt load and fierce competition from online retailers. Crowds are flocking to two of the mall-based outlets that are touting mass liquidation sales of as much as 80 percent off.