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Chapter 11

Business
COVID-19: Century 21 Files For Bankruptcy, Closing All Stores COVID-19: Century 21 Files For Bankruptcy, Closing All Stores
Covid-19: Century 21 Files For Bankruptcy, Closing All Stores Liquidation sales are under way at all 13 Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the company said in a press release. The off-price retail store in business for more than 60 years was left with "no viable alternative" to closing," the company's co-CEO Raymond Gindi said.  "While retailers across the board have suffered greatly due to COVID-19, and Century 2…

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by Cecilia Levine
Business
COVID-19: Retailer Closing Connecticut Location COVID-19: Retailer Closing Connecticut Location
Covid-19: Retailer Closing Connecticut Location A popular retailer has filed for bankruptcy and plans to permanently close nearly half its stores, including one in Connecticut, after temporary store closures amid the novel coronavirus (COVID-19) pandemic. Kitchen goods retailer Sur La Table made the Chapter 11 filing late this week, saying 51 of 121 stores will close. The Seattle-based company, founded in 1972, brands itself as "the leading retail destination for those passionate about cooking and entertaining." The company announced it would sell its remaining stores and brand names to Fortress Investment Group. "Following the sale, …

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by Joe Lombardi
Business
Locally Owned, Operated GNC In Greenwich Marks 24th Year In Business Locally Owned, Operated GNC In Greenwich Marks 24th Year In Business
Locally Owned, Operated GNC In Greenwich Marks 24th Year In Business Though hundreds of GNC stores are closing after the company filed for bankruptcy this week, one location in Fairfield County is open and thriving - and has been for nearly a quarter of a century. The GNC in the Riverside Commons Shopping Center on East Putnam Avenue in Greenwich will continue to stay open, serving the customers who have frequented it since 1997, franchise owner Michael Saluzzi wants the community to know. Earlier story - COVID-19: GNC Files For Bankruptcy, Will Close About 1,200 Stores Saluzzi opened his first GNC franchise in Brooklyn in 1992 before setting up shop in Fai…

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by Zak Failla
Business
COVID-19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations COVID-19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations
Covid-19: Chuck E. Cheese Files For Bankruptcy After Reopening Locations The novel coronavirus (COVID-19) crisis has claimed another victim. Chuck E. Cheese, the popular entertainment and pizza chain that has been the place to go for children's birthday parties for 43 years, has filed for bankruptcy protection after the virus forced locations to shut their doors more than three months ago. The bankruptcy announcement came after the company began reopening some locations as the region begins recovering from the COVID-19 outbreak. As of Wednesday, June 24, 266 Chuck E. Cheese and Peter Piper Pizza restaurant and arcade locations had reopened in accordance with th…

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by Zak Failla
Business
COVID-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy COVID-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy
Covid-19: Retailer J.Crew, With 450 Stores Throughout Nation, Files For Bankruptcy Amid a plunge in sales during the novel coronavirus (COVID-19) pandemic, specialty retailer J.Crew has filed for bankruptcy. More Chapter 11 filings across the retail sector are expected in the coming weeks. J.Crew, which opened its first location in 1989, operates more than 450 stores throughout the United States. The company J.Crew, which was struggling financially before the pandemic hit, was acquired in 2011 by TPG Capital and Leonard Green & Partners for $3 billion. J.Crew said in a statement that it has filed a series of customary "first-day" motions with the Bankruptcy Cou…

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by Joe Lombardi
Business
Five Fairfield County Stores Among Payless Closures Five Fairfield County Stores Among Payless Closures
Five Fairfield County Stores Among Payless Closures Another iconic retailer is going out of business. Payless ShoeSource will be closing all of its 2,100 remaining stores in the U.S. and Puerto Rico. The chain had filed for Chapter 11 bankruptcy protection nearly two years ago, closing hundreds of stores as part of its reorganization. Liquidation sales start Sunday, Feb. 17 with all stores staying open until the end of March with many others remaining in business until May. Store closures in the Hudson Valley and Fairfield County are as follows: Hudson Valley Westchester County Burlington Shopping Center, Yonkers Cortlan…

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by Joe Lombardi