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...]
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Peoria Business Bankruptcy Protection
Sometimes a business owner will experience financial difficulties and may want to consider bankruptcy protection. A bankruptcy filing can stop litigation or collection efforts on the part of the creditors and allow a the debtor to eliminate burdensome contracts - often times with fewer financial consequences. A bankruptcy will often reduce what is owed to creditors allowing a debtor to recover financially. The typical bankruptcy case involves a chapter 7 liquidation, a chapter 13 … [Read more...]
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