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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
Two Westchester Diners File For Bankruptcy Two Westchester Diners File For Bankruptcy
Two Westchester Diners File For Bankruptcy American Diner Group, Inc., which owns two popular eateries in Hawthorne and Yonkers, has filed for federal bankruptcy protection, according to multiple sources.  The family-owned diners claim they were forced to file for bankruptcy because of an $837,000 U.S. Department of Labor judgment that was assessed last year for paying workers less than they had earned. American Classic Broadway Diner in Yonkers and American Classic Executive Diner in Hawthorne filed for Chapter 11 reorganization on May 2 in U.S. Bankruptcy Court in White Plains. “It is the debtor’s intention to immediately seek med…

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by Jon Craig