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Debt

Business
Bob's Stores To Close All Locations After Filing For Bankruptcy; Retailer Liquidating Inventory Bob's Stores To Close All Locations After Filing For Bankruptcy; Retailer Liquidating Inventory
Bob's Stores To Close All Locations After Filing For Bankruptcy; Retailer Liquidating Inventory Bob's Stores, the family apparel and shoe retailer, will close all of its 21 locations throughout the Northeast after the company said it is bankrupt. The stores will remain open through July 14 as the company sells its remaining items at greatly reduced prices. Some things were marked down as much as 70 percent, according to a news release. The company, which filed for Chapter 11 bankruptcy late last month, is $29.4 million in debt, according to the court filing.  Bob's President Dave Barton apologized to the communities affected by the closures.  We regret that our financ…

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by Josh Lanier
Politics
'Sin' Taxes, Long-Term Solutions In CT Gov's Proposed State Budget 'Sin' Taxes, Long-Term Solutions In CT Gov's Proposed State Budget
'Sin' Taxes, Long-Term Solutions In CT Gov's Proposed State Budget  In his first proposed state budget, Connecticut Gov. Ned Lamont called for an overhaul of the state’s sales tax system, “sin” taxes and laid out ways to start digging the state out of debt. On Wednesday, Feb. 20, in the Hall of the House of Representatives in the State Capitol, Lamont discussed his proposed budget, a two-year, $43.1 billion taxing and spending plan. The budget includes a “sin” tax levy on a variety of products, including alcohol, sugary drinks, plastic bags and vaping products. Single-use plastic bags would come with a 10 cent tax, while wine and liquor will include a…

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by Zak Failla
Business
Retailer Nine West Files For Bankruptcy Retailer Nine West Files For Bankruptcy
Retailer Nine West Files For Bankruptcy Women's clothing and footwear company Nine West announced on Friday that it has filed for bankruptcy, listing debts of more than $1 billion. The company, which owns brands such as Gloria Vanderbilt and Anne Klein, also announced it will sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. "This is the right step to address our two divergent business profiles," Ralph Schipani, Nine West Holdings' chief executive officer, said in a statement. "We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses and co…

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by Joe Lombardi