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This Beloved Brand Is Closing 122 Stores Sarah Crow © Provided by Best Life woman buying kids clothes in mall store With fewer people shopping brick-and-mortar stores amid the pandemic, the retail industry is having a hard time rebounding. However, it’s not just mom-and-pop shops that have had to shutter due to financial pressure brought about by the pandemic—a number of major chains have been forced to make tough decisions to stay afloat. Now, beloved children’s retailer The Children’s Place has announced plans to close 122 stores in 2021 amid sales losses. And for...

More than 8,000 US stores closed last year, and experts predict 10,000 possible closures in 2021.

Paper Source bankruptcy squeezes small greeting card sellers The Chicago-based company placed unusually large orders with greeting card suppliers in the months and weeks preceding the bankruptcy. Now those payments may be delayed and, in some cases, possibly never repaid in full. Bloomberg (Bloomberg)—The bankruptcy filing of Paper Source Inc. is squeezing small vendors the stationery chain uses to stock its shelves with greeting cards. Chicago-based Paper Source placed unusually large orders with greeting card suppliers in the months and weeks preceding the bankruptcy, according to intervi...

Staionary Retailer Paper Source Files For Bankruptcy, Plans Sale Jeremy Hill, Bloomberg News (Bloomberg) -- Paper Source Inc., the stationary and craft supplies chain, filed for bankruptcy with plans to sell itself after Covid-19 hampered expansion plans. The company intends to hand control of the business to an affiliate of MidCap Financial, a lending arm of Apollo Global Management, in exchange for debt forgiveness, court papers show. Paper Source owes about $103 million to lenders, including more than $55 million under a first-lien term loan. Paper Source, which has 158 stores across the U...

This Popular Snack Company Just Filed for Bankruptcy Sarah Crow © Provided by Best Life friends sharing some wine, fruit, and cheese at a dinner party Yet another popular company is attempting to find its financial footing amid the fallout of the COVID-19 pandemic. Beloved snack company Peeled Snacks filed for bankruptcy in Wilmington, Delaware on March 3, The Wall Street Journal reports. The brand, known for its dried fruit and fruit crisps, had experienced a significant dip in sales related to lower traffic in airports and fewer children in schools, two places essential ...