Chapter 11

Guitar Center To File For Bankruptcy

(CNN) - Guitar Center says it's filing for Chapter 11 bankruptcy protection, but plans to stay in business. USA Today reports it's negotiated a deal with investors and lenders to reduce its debt. The company has about 300 Guitar…

Diner Chain Friendly's Files For Bankruptcy

(CNN) - The East coast diner chain Friendly's is filing for Chapter 11 bankruptcy protection and selling its assets to a private hedge fund company. Friendly's, known for its ice cream said nearly all of its 130 locations will…

JCPenney Plans To Close 29% Of Stores

(CNN) - Just days after filing for bankruptcy, JCPenney is now planning to close nearly 200 stores this year. The 118-year-old company has struggled to gain profits for years but the company said the pandemic caused sales to plummet.…

J. Crew Files For Bankruptcy

(CNN) - J.Crew has filed for bankruptcy. It's the first national U.S. retailer to file for Chapter 11 bankruptcy-protection since the coronavirus pandemic forced a wave of store closures. J.Crew group said it filed to start proceedings in federal…

Papyrus Store Closing

(CNN) - A mall staple is going out of business. Papyrus, best known for selling stationery and upscale greeting cards is folding. Schurman fine paper, which owns the brand, filed for Chapter 11 bankruptcy on Thursday. It's closing all…

Fast Food Chain Krystal Files For Bankruptcy

(CNN) - Krystal, a popular burger chain in the southeast, has filed for chapter 11 bankruptcy. The south's answer to White Castle, was founded in Chattanooga; it first opened in 1932. For now, its 318 restaurants will continue to…

America's Largest Milk Producer Files For Bankruptcy

(CNN) - America's largest milk producer is filing for bankruptcy. Dean Foods filed for Chapter 11 bankruptcy protection on Tuesday; in an effort to keep the 94-year-old company operating. The filing will also allow it to reorganize its debt…

Forever 21 Retailer Files For Bankruptcy

(CNN) - Forever 21 is dealing with financial woes. The teenage clothing chain announced Sunday that it filed for Chapter 11 bankruptcy. Company officials say up to 178 of its more than 800 stores will be closed. However, they…

Claire's Jewelry Chain Files For Bankruptcy

(CNN) - The place where millions of girls first got their ears pierced has declared bankruptcy. Claire's filed for Chapter 11 protection Monday morning. The tween jewelry chain says it will reduce its debt by $1.9 billion. During the process…

Payless closing 800 stores

(CNN) -More Payless Shoesource stores are closing. The footwear company announced a second set of closings on Wednesday, bringing the total number to about 800. It has nearly 4,500 locations world-wide. It filed for chapter 11 bankruptcy in April and…