In the latest round of retailer bankruptcies in the wake of Covid-19, the operator of Ann Taylor and Lane Bryant stores filed for chapter 11 bankruptcy. With thousands of stores in malls across the country, Mahwah, New Jersey-based Ascend Retail Group Inc., plans to close several Catherine’s and Justice Stores and a number of Ann Taylor, Loft, Lane Bryant and Low & Grey stores due to weak sales made worse by the pandemic. The company joins a growing list of retailers filing chapter 11 … [Read more...]
Archives for July 2020
Personal Bankruptcy Likely to Increase in 2021
Many are predicting that personal bankruptcy filings will increase in 2021 as debt problems accumulate in the fallout of Covid-19. Although many Americans were in a holding pattern during the early months of the pandemic aided by government programs and forgiving creditors, those who have experienced periods of unemployment during the shutdowns, or had debt problems prior, are beginning to explore what debt forgiveness options exist as the economy opens back up. Fortunately, bankruptcy offers … [Read more...]