Like many businesses in the last several months, Manhattan’s Brooks Brothers was hit hard by the effects of the COVID-19 pandemic. However, even before the virus came into the picture, the 202-year-old elite fashion retailer whose suits adorned many U.S. presidents...
As your corporation prepares for Chapter 11 bankruptcy, making it viable again will be a high priority. The team you’re working with to steer it through proceedings may be competent. But you may still worry that the terms agreed upon during your hearings could cause...
Contrary to what consumers may think, filing for bankruptcy does not necessarily mean a corporation will shut down. In fact, filing for Chapter 11 bankruptcy can do the opposite—it can keep the business afloat through debt reorganization. Of course, large corporations...
The clothing retailer, True Religion Apparel Inc, filed Chapter 11 this April after lengthy store closures hurt its business. This filing is the second time the company filed Chapter 11 in three years. Though the company will maintain its e-commerce business, its CEO...
Mega Chapter 11 bankruptcy can play out in numerous ways, as is evident in CNBC’s report on 2019 retail bankruptcies. 2019 was a big year for Chapter 11 filings, particularly for apparel companies. In total, there were 23 major retail bankruptcies, which is up from 17...
