Less than 18 months after exiting bankruptcy, Payless ShoeSource has reportedly lined up an advisor to help mull over strategic alternatives, including a possible sale. According to a report from Reuters, citing people familiar with the matter, the affordable footwear retailer hired investment firm PJ Solomon as it continues to struggle amid digital disruption and…
UPDATE: A list of stores that will be closing is now available here. Quincy (WGEM) Shopko, which, operates a store at 3200 Broadway in Quincy, announced Wednesday that it, along with its subsidiaries, has filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code. In a new release,…
GREEN BAY, Wis. UPDATE: Shopko released the latest list of store closings Wednesday. Stores in Bloomfield, Iowa and Memphis, Missouri are scheduled to close April 15. Additional Iowa closings include Burlington, Fort Madison, Estherville, Webster City, Cherokee, Clarinda, Vinton, Hampton, Onawa and Eldora. In Missouri, additional store closings include Albany and Carrollton. ————————————————- Shopko, which…
Shopko announced on Wednesday, January 16, 2019, that it has filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. Chapter 11 allows a company to restructure its finances under court supervision. In a release announcing the filing, Shopko said the restructuring is necessary because of excess debt and ongoing competitive pressures. The company…
GREEN BAY, Wis., Jan. 16, 2019 /PRNewswire/ –Shopko (“the Company”), a leading operator of general merchandise stores throughout the Central, Western and Pacific Northwest regions of the U.S., today announced that it, along with its subsidiaries, has filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code. The…
NEW YORK–(BUSINESS WIRE)–Aegean Marine Petroleum Network Inc. (NYSE:ANW) (Aegean or the Company) announced that the U.S. Bankruptcy Court for the Southern District of New York (the Court) has approved its revised final motion related to $535 million in aggregate Debtor-in-Possession financing (the DIP Facility) from Mercuria Energy Group Limited (Mercuria), one of the worlds largest…
Pearson said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have moved away from new…
(Reuters) – Pearson Plc (PSON.L) said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. FILE PHOTO: The company logo is displayed outside the Pearson offices in London, Britain August 4, 2017.…
(Reuters) – Pearson Plc <PSON.L> said revenue at a key U.S. business fell 5 percent and forecast a possible similar drop next year as the education publisher undergoes a major restructuring to focus on boosting its digital content. The FTSE 100 company has struggled to grow its U.S. higher education courseware (HECW) as students have…
The Reserve Bank of Indias (RBI) restructuring scheme for loans to micro, small and medium enterprises (MSME) loans up to Rs 25 crore has been hailed as a welcome breather, but a deeper malaise may be lurking. A former chief executive of a state-run bank (and now a director on…