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Chapter 11 bankruptcy

Business
These 64 PA Big Lots Stores Are Among Nearly 1,000 Closing Nationwide: Here's When These 64 PA Big Lots Stores Are Among Nearly 1,000 Closing Nationwide: Here's When
These 64 PA Big Lots Stores Are Among Nearly 1,000 Closing Nationwide: Here's When Big Lots, the popular discount retailer, is officially going out of business. The company, which filed for Chapter 11 bankruptcy in September, has announced plans to close all 963 of its remaining stores nationwide, including the remaining 64 locations in Pennsylvania. Big Lots had 73 stores located in the Keystone State when they declared bankruptcy over the summer. More than 6% of all Big Lots were located in the commonwealth, with the most stores located in Texas.  The last day of business is expected to be in mid-February, according to sources familiar with the closures. While offi…

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by Jillian Pikora
Business
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores
Big Lots To Begin 'Going Out Of Business' Sales At Nearly 1,000 Remaining Stores Big Lots has announced plans to close all of its remaining 963 stores, initiating "going out of business" sales following its Chapter 11 bankruptcy filing in September. The company says it's started the process of closing stores in 48 states and liquidating inventory under its court-supervised Chapter 11 bankruptcy proceedings.  The decision comes as the retailer seeks to maximize value for stakeholders while exploring potential going-concern sale opportunities. "We all have worked extremely hard and have taken every step to complete a going concern sale," Big Lots' President and Chie…

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by Joe Lombardi
Business
Big Lots To Close 5 More Pennsylvania Stores Big Lots To Close 5 More Pennsylvania Stores
Big Lots To Close 5 More Pennsylvania Stores Things have gotten worse for the discount retailer Big Lots.  The national chain was previously set to close approximately 300 stores, then they decided to close 40 more, but following a new filing with the Securities & Exchange Commission on Friday, Oct. 4,  the impending closure of another 150 stores nationwide has been announced. The store closures are part Chapter 11 bankruptcy process. This latest round brings the total number of planned and completed closures to about 500. Big Lots had 73 stores located in the Keystone State when this process started, at the tim…

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by Jillian Pikora
Business
Rite Aid To Close 39 Pennsylvania Stores After Filing For Bankruptcy Rite Aid To Close 39 Pennsylvania Stores After Filing For Bankruptcy
Rite Aid To Close 39 Pennsylvania Stores After Filing For Bankruptcy Rite Aid, the pharmacy giant that filed for bankruptcy on Sunday, Oct. 15, plans to close 154 underperforming stores nationwide, according to a new filing.  Thirty-nine of the stores closing are located in Pennsylvania.  They are: 1441 Old York Road in Abington 1628 South Fourth Street in Allentown 169 West Lancaster Avenue in Ardmore 5235 Library Road in Bethel Park 2178 West Union Boulevard in Bethlehem 2722 West 9th Street in Chester 200 West Ridge Avenue Suite 112 in Conshohocken 2715 Parade Street in Erie 1709 Liberty Street in Erie 4830 William Penn Highway in Export 6090 …

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by Cecilia Levine
Business
PA Christmas Tree Shops Stores Among 10 National Store Closures PA Christmas Tree Shops Stores Among 10 National Store Closures
PA Christmas Tree Shops Stores Among 10 National Store Closures Christmas Tree Shops has announced it will close 10 of its stores after filing for bankruptcy. The 53-year-old discount home-goods chain offers seasonal decor year-round, along with assorted gifts, kitchen items, and furniture. The 10 stores closures are: Rockland County, New York: 32 Spring Valley Marketplace, Spring Valley; Jefferson County, New York: 21182 Salmon Run Mall Loop West, Watertown; Cape Cod, Massachusetts: Davis Straits, Route 28 Falmouth Plaza, Falmouth, Massachusetts; Barnstable County, Massachusetts: Cranberry Highway Route 6A, Sagamore; Lancaster County, Pennsylvania:…

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by Joe Lombardi
Business
Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy
Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy Struggling home goods retailer Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday, April 23 with plans to close all of its remaining stores after efforts to raise enough money to keep the company alive came up short. The company said in a statement that it will implement "an orderly wind-down" of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.  For now, 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will remain open and continue serving customers as the com…

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by Joe Lombardi
News
Gun Manufacturer Remington Settles With Sandy Hook Families For $73M Gun Manufacturer Remington Settles With Sandy Hook Families For $73M
Gun Manufacturer Remington Settles With Sandy Hook Families For $73M Families of five children and four adults killed in the 2012 Sandy Hook Elementary School shooting reached a historic $73 million settlement with gun manufacturer Remington, officials announced. Attorneys for the families who filed the suit against the now-bankrupt Remington and its four insurers, announced on Tuesday, Feb. 15 that they had reached the settlement, representing the first time a gun manufacturer has been held liable for a mass shooting in the US. As part of the settlement, lawyers for the families said that Remington agreed to release thousands of pages of internal company do…

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by Zak Failla