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Sears Hometown Files for Chapter 11, Citing Lack of Inventory and Heavy Liabilities

Retail TouchPoints

Sears Hometown Stores , an offshoot of the original department store, has filed for Chapter 11 bankruptcy in Delaware. The litigation had been ongoing since 2019, when Sears accused Lampert and others of “asset stripping and ‘rank’ self-dealing.” Sears Hometown owes an estimated $3 million to Transformco, according to court documents.

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Bed Bath & Beyond Prepares to Wind Down Operations in Chapter 11

Retail TouchPoints

Bed Bath & Beyond has filed for Chapter 11 bankruptcy protection and will implement an orderly wind-down of its businesses while “conducting a limited marketing process” to find one or more buyers for some or all of its assets.

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Amazon Generates 11% Revenue Boost in Q2, Forecasts Strong Q3

Retail TouchPoints

Revenue increased 11% year over year, reaching $134.4 North America and International segments saw similar growth, with segment sales increasing 11% and 10% year over year, respectively. Prime members the next or same day — nearly 4X the number of units delivered at those speeds in 2019. billion , up from $121.2 billion to $61.8

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GNC To Enter ‘Pre-Packaged’ Chapter 11 Bankruptcy Process

Retail TouchPoints

GNC Holdings has filed a “prepackaged” Chapter 11 bankruptcy plan that will speed up the closure of at least 800 to 1,200 stores. The retailer first announced the mass store closures in July 2019, when it had planned to shutter up to 900 locations. Harbin Pharmaceutical Group Holding Co.

Planning 275
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The O2’s Q1 and Easter Half Term Performance Surpasses Expectations, Rivals 2019 Trade Levels

Retail Focus

The O 2, which is owned and operated by AEG and Crosstree Real Estate Partners, has reported a stellar trading period throughout Q1 and Easter half term, with sales throughout the destination surpassing 2019 results. Icon Outlet at The O2 dealt direct. Lunson Mitchenall represented WHSmith.

Shopping 130
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Francesca’s Enters Chapter 11 Bankruptcy to Pursue a Sale

Retail TouchPoints

Francesca’s has filed for Chapter 11 bankruptcy protection as the ailing retailer seeks a sale of both its brick-and-mortar locations and its ecommerce holdings. The company will continue operating during the process by utilizing a $25 million debtor-in-possession loan from Tiger Finance.

Finance 177
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Stein Mart Files For Chapter 11, Considers Closing All 281 Stores

Retail TouchPoints

In connection with the Chapter 11 filing, the retailer has terminated MaryAnn Morin as President, although she remains on the Board of Directors. The retailer filed its Chapter 11 petition in the U.S. The retailer had been struggling even before COVID-19 forced closures of its brick-and-mortar stores: for fiscal 2019, which ended Feb.