Distressed Retail: Page 10
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Courtesy of Rite Aid
Rite Aid’s losses triple as sales fall
Declines in traffic and sales from COVID-19 services could be hurting the drugstore chain.
By Ben Unglesbee • Sept. 30, 2022 -
Permission granted by At Home Group
At Home downgraded as it burns through cash
The retailer took on debt from a private equity acquisition last year. Then the home goods market tanked.
By Ben Unglesbee • Sept. 28, 2022 -
Trendline
Top 5 stories from Retail Dive
Though some of the problems of the pandemic have waned, retail continues to reel from C-suite turnover, changes in ecommerce and reassessment of DEI policies.
By Retail Dive staff -
Courtesy of Peloton
For Peloton, 2022 has been a rough ride
The at-home gym company — along with its stock price — was riding on a high during the pandemic. Consumers brought it back to reality in 2022.
By Dani James • Sept. 19, 2022 -
Courtesy of Bed Bath & Beyond
Bed Bath & Beyond announces locations of its first wave of closures
The struggling home goods retailer is moving to shutter over 50 stores after laying out a plan late last month to close 150 locations.
By Caroline Jansen • Sept. 16, 2022 -
Bankrupt Revlon gets court approval for exec bonus plan
Top executives could collectively receive tens of millions of dollars in incentive bonuses.
By Ben Unglesbee • Sept. 16, 2022 -
Daphne Howland/Retail Dive
ColumnThe Weekly Closeout: Amazon invests $450M in driver program and Bed Bath & Beyond interim CEO could stay another year
The e-commerce giant will invest in benefits for its Delivery Service Partners, while Sue Gove will reportedly remain with the home retailer for now.
By Retail Dive Staff • Sept. 16, 2022 -
Vince to shut down Rebecca Taylor
The company is in discussions with lenders to finalize the wind down plan, which is expected to include selling off assets and exiting business channels.
By Kaarin Moore • Sept. 13, 2022 -
Courtesy of CriticalPoint Capital
Olympia Sports files for bankruptcy as it works through liquidation
The regional sporting goods specialist at its height had 230 stores. After a series of deals and tribulations, it’s winding down to zero.
By Ben Unglesbee • Sept. 13, 2022 -
Daphne Howland/Retail Dive
With volatility and recession talk everywhere, what are retailers’ actual financial risks?
Some players have gotten stronger since the pandemic began. But 2021’s boom times papered over weakness in others.
By Ben Unglesbee • Sept. 6, 2022 -
Yujin Kim / Supply Chain Dive
Amazon hits major setback in bid to overturn Staten Island union vote
An official with the National Labor Relations Board recommended the company’s objection to the voting process be rejected and the union certified.
By Ben Unglesbee • Sept. 2, 2022 -
Ben Unglesbee/Retail Dive
Sears Holdings $175M settlement with Lampert has court approval
The settlement clears the way for a resolution to the company’s grinding, expensive Chapter 11 case.
By Ben Unglesbee • Sept. 1, 2022 -
Alex and Ani has $17.5M loan as it seeks growth after bankruptcy
The jewelry retailer known for its charm bracelets filed for Chapter 11 in 2021 after years of fast growth and disruptions both external and internal.
By Ben Unglesbee • Aug. 29, 2022 -
Kendall Davis/Retail Dive
Podcast
The Backroom: The remains of Sears
Senior Reporter Ben Unglesbee discusses his recent trip to one of the few remaining Sears department stores in the country.
By Retail Dive Staff • Aug. 25, 2022 -
Daphne Howland/Retail Dive
Bed Bath & Beyond snags a much-needed loan: WSJ
The retailer needs all the cash it can get to pay suppliers, deal with looming maturities and try to right a struggling business.
Aug. 24, 2022 -
Daphne Howland/Retail Dive
Bed Bath & Beyond downgraded at S&P
Analysts slapped a CCC grade on the company, citing “very poor sales performance, deteriorating liquidity, and looming maturities.”
By Ben Unglesbee • Aug. 23, 2022 -
Daphne Howland/Retail Dive
Bed Bath & Beyond taps Kirkland & Ellis for debt help: Bloomberg
The retailer is addressing its balance sheet as it manages flagging sales and a seemingly endless turnaround.
By Ben Unglesbee • Aug. 19, 2022 -
Ben Unglesbee/Retail Dive
Sears Holdings reaches $175M settlement with Lampert and company
The retailer entered bankruptcy in 2018. It has been stuck there ever since, as the company and its creditors pursued claims of “rank” self-dealing.
By Ben Unglesbee • Aug. 11, 2022 -
Revlon CFO to retire as sales continue shrinking in bankruptcy
The company’s losses have also ballooned, in part because of the high cost of Chapter 11.
By Ben Unglesbee • Aug. 10, 2022 -
Courtesy of Stitch Fix
Retail disruptors are turning to layoffs to cut costs and restructure
New companies have grown rapidly by leveraging consumer trends during the pandemic. Now, they’re paying the price amid an economic downturn.
By Dani James • Aug. 9, 2022 -
Ben Unglesbee/Retail Dive
ColumnThis is the last Sears for hundreds of miles. What can it tell us about the state of malls?
The department store in Maryland is sparsely merchandised and low on traffic. Senior Reporter Ben Unglesbee takes a look inside to see how retail has changed since the heyday of malls.
By Ben Unglesbee • Aug. 1, 2022 -
Courtesy of CriticalPoint Capital
Olympia Sports is shutting down its stores
Owned by private equity firm CriticalPoint Capital, the Maine-based retailer is holding liquidation sales at all locations.
By Cara Salpini • July 29, 2022 -
Revlon gets court OK on $15.4M bonus plan for 'critical' employees
In bankruptcy, the cosmetics giant is trying to retain staff it says are critical to operations after recent years of stress and turmoil.
By Ben Unglesbee • July 27, 2022 -
Daphne Howland/Retail Dive
Bed Bath & Beyond downgraded by Moody's amid 'steep decline' in sales
The agency updated the retailer’s coporate rating following the departure of its CEO and chief merchandising officer late last month.
By Caroline Jansen • July 21, 2022 -
Cara Salpini/Retail Dive
Bath & Body Works girds for sales, profit decline in 2022
Traffic is falling at the retailer, and lower income consumers are tightening spending as they wrestle with inflation.
By Ben Unglesbee • July 20, 2022 -
Courtesy of Business Wire
Michaels downgraded as costs, consumer shifts add pressure
A little over a year after being taken over by private equity, the retailer is pressed by high supply chain costs and tighter consumer spending.
By Ben Unglesbee • July 14, 2022
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