Tuesday Morning Corp. filed voluntary petitions for protection under Chapter 11 bankruptcy, in response to the strain that COVID-19 pandemic and related store closures have put on the company, the Dallas Business Journal reports. The Dallas-based retailer retained Haynes and Boone to guide it through its corporate restructuring.
Chron: More than 240 U.S. Energy Bankruptcies Forecast by 2021
If the forecast by Norwegian energy research firm Rystad Energy is true, the number of energy bankruptcies from the coronavirus-driven oil crash will eclipse that of the last bust.
DBJ: J.C. Penney Plans to Create a REIT as Part of Bankruptcy
The stores in the real estate investment trust would be leased to a new operating company called “New JCP”, according to court documents.
Kirkland-Jackson Walker Duo Strike Again in New Department Store Chapter 11 Filing
The romance continued Sunday evening between Jackson Walker and Kirkland & Ellis as the bankruptcy duo filed a Chapter 11 corporate restructuring petition on behalf of Houston-based department store chain Stage Stores, which operates Bealls, Palais Royal and others.
It’s Official: Neiman Marcus Files for Bankruptcy – Updated
The much-anticipated move by the luxury retailer involved 24 separate entities filing in the Southern District of Texas. Natalie Posgate has the names of lawyers and bankers involved.
Texas Lawyers Advising on J.Crew Bankruptcy
J.Crew is the first of an expected wave of major brand names to file for bankruptcy as the COVID-19 pandemic continues to keep retailers’ doors shuttered. J.Crew’s Chapter 11 features prolific Dallas litigators and a private equity owner with Texas roots.
Gold’s Gym Files for Bankruptcy in Dallas
The Dallas-based company has tapped lawyers at Dykema to lead it through Chapter 11. Natalie Posgate reports on this story and another bankruptcy filing by a Dallas men’s clothier.
Three Weeks After Whopping Judgment, Diamondback Industries Files for Bankruptcy
Three weeks after losing the very first IP trial decided by U.S. District Judge Alan Albright, Crowley-based Diamondback Industries filed for bankruptcy protection, citing the $40 million judgment as first among their debts. Natalie Posgate has the details.
DBJ: JCPenney, Neiman Marcus Skipped Debt Payments this Week Amid Bankruptcy Reports
The DFW-based retailers skipped debt payments this week as the COVID-19 pandemic ravages retailers and reports that both are possibly in bankruptcy talks, according to multiple reports.
CEC Entertainment Hires Weil Gotshal and PJT Partners as Advisors in Possible Restructuring
The parent company of Chuck E. Cheese and Peter Piper Pizza has created a committee to explore restructuring and financing opportunities and hired two highly-respected firms as its primary outside advisors, according to documents filed by CEC Entertainment with the U.S. Securities and Exchange Commission.
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