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Liquidation sale

Business
Joann Going Out of Business After 80+ Years, Closing All Stores Following Bankruptcy Auction Joann Going Out of Business After 80+ Years, Closing All Stores Following Bankruptcy Auction
Joann Going Out of Business After 80+ Years, Closing All Stores Following Bankruptcy Auction Joann will shut down all of its 800 locations, ending more than 80 years of selling fabrics and craft supplies. Joann announced the winning bidders at a bankruptcy auction plan to begin going-out-of-business sales at every store, the company said. At its height, the crafts chain had about 850 stores in every state but Hawaii. Financial services company GA Group, in partnership with the prepetition term loan agent, acquired Joann's assets at the auction. "Joann leadership, our board, advisors and legal partners made every possible effort to pursue a more favorable outcome that wou…

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by Chris Spiker
Business
Pier 1 Imports Closing All Stores, Going Out Of Business Pier 1 Imports Closing All Stores, Going Out Of Business
Pier 1 Imports Closing All Stores, Going Out Of Business Pier 1 imports is going out of business and closing all stores including e-commerce operations, the company said in a statement. The company announced plans to run liquidation sales through the end of October once stores can reopen in compliance with novel coronavirus (COVID-19) restrictions, officials said in a statement. Intellectual property will also be sold in the bankruptcy, officials said. “This is not the outcome we hoped for when we began this process, and we are deeply saddened to move forward with winding down Pier 1,” said Robert Riesbeck, Pier 1’s Chief Executive Officer and C…

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by Valerie Musson
Business
Payless Going Out Of Business, With Eight Westchester Stores Among Closures Payless Going Out Of Business, With Eight Westchester Stores Among Closures
Payless Going Out Of Business, With Eight Westchester Stores Among 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