Image caption Auctioneer Adam Pye says he’s shocked by the scale of the boom in liquidation sales The UK’s largest auction house network says its had its busiest month in 52 years selling goods from UK businesses that have gone bankrupt during the Covid-19 lockdown. John Pye Auctions, which specialises in stock from liquidated firms, says this could just be… Read more →
Image copyright Getty Images Brooks Brothers, one of America’s oldest clothing brands, has become the latest US retailer to file for bankruptcy protection. The menswear company, which is more than 200 years old, sought court protection from creditors on Wednesday while it looks for a buyer. It had already shut some stores and prepared to close its US factories. Known… Read more →
Image copyright Tribal Clash Image caption Teams of six – three men and three women – take part in a series of physical challenges An outdoor events firm has said it will not have the money to refund thousands of people over cancelled events. Devon-based Tribal Clash said it was “facing bankruptcy” after cancelling events in Devon, Portugal and the… Read more →
Image copyright Getty Images Canadian entertainment firm Cirque du Soleil is to cut 3,500 jobs after striking a deal to avoid bankruptcy. The group, best known for its flamboyant touring circuses, said the coronavirus pandemic had forced it to cancel shows and lay off its artists. The company will now try to restructure while shedding about 95% of its staff.… Read more →
Image copyright Reuters Image caption The company filed for chapter 11 bankruptcy on Friday American department store JC Penney has filed for bankruptcy becoming the latest company to be hit by Covid-19. The 118-year-old store sells clothing, cosmetics and jewellery at over 850 locations across the country. It employs more than 80,000 people. It filed for Chapter 11 bankruptcy on… Read more →
Image copyright Getty Images Gym chain Gold’s has become the latest big name to file for bankruptcy protection as it struggles with the impact of coronavirus lockdowns. The company said the move would mean the permanent closure of 30 company-owned gyms. More than 700 gyms operate around the world under the Gold’s brand, most of which are franchises. It is… Read more →
Image copyright Getty ImagesImage caption J Crew’s stores are closed because of coronavirus Fashion firm J Crew has filed for bankruptcy protection, making it the first big US retailer to fall victim to the coronavirus pandemic. Under the terms of the filing, its main creditors are set to take control of the group in exchange for cancelling debts of $1.65bn… Read more →