Forever 21 may or may not be so “forever.” The teenage mall staple just filed for Chapter 11 bankruptcy and is beginning the tedious process of restructuring after a fateful past few years. Experienced Las Vegas bankruptcy lawyers say they expect to see more retailers following suit. As part of the meticulous process of restructuring, …
Continue reading “Forever 21 Owes Over $20 Million to Mall Owners”
Earlier this month, Fred’s announced its decision to file for Chapter 11 bankruptcy and the shutting down of all its retail stores. The trend continues in an increasingly digital retail world: retailer after retailer can’t adapt to the growing world of e-commerce and deplete their resources as they struggle to stay afloat. Eventually, they drown …
Continue reading “Major Retailers Heading for Bankruptcy A Growing Trend”
Barneys New York, founded nearly a century ago, is fighting to keep open its 10-story flagship Madison Avenue store, after securing $75 million in financing to pay employees and vendors, all the while seeking a buyer. Their filing for Chapter 11 bankruptcy was shocking, but not unexpected given the current retail climate. Sister stores in …
Continue reading “Iconic High-End Retailer Barneys Files for Chapter 11 Bankruptcy”
The Las Vegas Monorail project has not had an easy past. Over seven years ago, The Las Vegas Monorail Co. filed for Chapter 11 bankruptcy, wiping out 98 percent of bondholder’s money. However, as of this month, the LV Monorail is planning to return to the municipal-bond market and has listed almost $20 million in …
The state of the U.S. economy in 2009 was not happy news for many individuals or companies, and the Las Vegas hotel/casino Fontainebleau was not immune to the looming financial woes. In the spring of 2009, the developers of the Fontainebleau issued a bleak warning to their lenders: if more monies were not invested in …
Continue reading “10 Years Since the Fontainebleau Went Bankrupt”
It seemed to outsiders that the marijuana industry in Las Vegas would be nothing but a BOOM – with the lucky dispensary license holders sure to make millions off locals and tourists alike, looking for a welcomed ‘high.’ However, despite how green the grass is in the marijuana industry, it is not always an easy …
Continue reading “Cannabis Company CWNevada Faces 6 Lawsuits and Files for Bankruptcy”
Less than two years after Payless emerged from its 2017 bankruptcy, the 63-year-old shoe retailer is filing for Chapter 11 bankruptcy again. The going-out-of-business liquidation sales began at over 2,500 stores in the US and Canada. Sixteen thousand employees will lose their jobs. The process is set to conclude by the end of May. Why …
Continue reading “Payless ShoeSource Files for Bankruptcy Again”
Customers who placed furniture for sale in Colleen’s Consignment Stores are disgruntled at the fact that the stores have declared bankruptcy – leaving their belongings in limbo, yet to be rightfully returned. Las Vegas bankruptcy lawyers agree that this situation is less than ideal for customers of Colleen’s Consignment. Las Vegas Bankruptcy Leaves Customers in …
Continue reading “Colleen’s Consignment Files for Bankruptcy Leaving Customers Enraged”
Sears was lucky to receive the green light on a $5.2 billion plan, proposed by Sears chairman and biggest shareholder, Eddie Lampert. This restructuring plan is meant to give Sears a second chance on life and hopefully keep the historical, retail business alive and kicking. Experienced bankruptcy lawyers agree this is a bold plan to …
Continue reading “Sears Given a New Lease on Life after Bankruptcy Judge Approves Plan”
The San-Francisco-based company PG&E is set to reorganize under a Chapter 11 Bankruptcy filing, due to the potential liabilities of over $30 billion caused by the wildfires. The sheer magnitude of this filing means the company will have to work very closely with a team of skilled bankruptcy attorneys to ensure the optimal outcome. How …
Continue reading “PG&E Files Chapter 11 Bankruptcy; CEO Resigns after Fires”
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