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Retail Bankruptcies 2021: 5 Retailers That Felt The Pandemic's Pinch And Filed Chapter 11

Retail Bankruptcies 2021: 5 Retailers That Felt The Pandemic s Pinch And Filed Chapter 11
04/26/21 AT 9:19 AM
The COVID pandemic has not been kind to the retail industry as it continues to claim a swath of victims.
Burdened by debt and unmanageable rent payments, many retailers have had to rethink their brick-and-mortar strategy, while others are succumbing to Chapter 11.
Here are five major retailers that have filed for bankruptcy protection in 2021 due to pandemic-related issues.
Belk
In February, department store chain Belk announced that it was filing for bankruptcy protection in a one-day “pre-packaged” Chapter 11 reorganization.
Hit by the pandemic, Belk was burdened by nearly $2 billion debt and saw its sales drop by 32% from March to December 2020, Retail Dive reported. ....

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Christopher & Banks CEO is out following brand's acquisition in Ch. 11

Dive Brief:
Christopher & Banks president and CEO Keri Jones is leaving the apparel retailer, effective Friday, according to a securities filing.
Her resignation comes a little more than two weeks after Christopher & Banks sold its e-commerce business to an affiliate of Hilco Merchant Resources. Hilco has tapped iMedia Brands to run the online version of Christopher & Banks as well as launch a new shopping program on its television network.
Christopher & Banks filed for bankruptcy earlier this year with a plan to wind down its brick-and-mortar business and sell its digital unit.
Dive Insight:
Jones joined Christopher & Banks in 2018 after runs at Dick s Sporting Goods and Target as an executive with a background in merchandising and supply chain. ....

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iMedia Brands Acquiring Christopher & Banks Assets

iMedia Brands Acquiring Christopher & Banks Assets
TV shopping network to launch weekly C&B show.
Plymouth-based retailer Christopher & Banks Corp. is bankrupt, and its stores are closed, but the brand will live on under the wing of another local company: Eden Prairie-based iMedia Brands Inc.
The $24.6 million sale to ALCC closed yesterday according to a Wednesday SEC filing from Christopher & Banks. Per the filing, ALCC designated iMedia Brands as a buyer designee, which will assume certain assets and liabilities of the Christopher & Banks operation. ALCC retains the intellectual property assets and liabilities.
In a press release Wednesday iMedia Brands announced a “licensing partnership” with ReStore Capital LLC, another Hilco company, under which it will operate the Christopher & Banks business. ReStore Capital LLC defines itself as a “commercial finance and alternative investment firm providing capital solutions to leading retailers and consume ....

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Court OKs Christopher & Banks' Ch. 11 sale of e-commerce unit

UPDATE: March 1, 2021: A federal bankruptcy court approved Christopher & Banks sale of its e-commerce business last week to an affiliate of Hilco Merchant Resources. In February, Christopher & Banks canceled an auction for the unit, after no other qualified bids emerged other than a stalking force bid from the buyer. The sale comes with a closing cash payment of $12.7 million.
Dive Brief:
Christopher & Banks has a bid on its e-commerce business from a term loan lender that would set the baseline for a Chapter 11 auction, according to court documents.
The bankrupt women s apparel seller signed a letter of intent with ALCC, LLC, an affiliate of Hilco Merchant Resources, to serve as the stalking horse at the auction. ....

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Cristóbal estreáse no banco do Rácing ante o Compostela | Noticias de Galicia

Cristóbal estreáse no banco do Rácing ante o Compostela | Noticias de Galicia
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