Tag: bankruptcy

JC Penney: US department store files for bankruptcy

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 →

Gold’s Gym files for bankruptcy protection

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 →

J Crew files for bankruptcy protection

J Crew files for bankruptcy protection

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 →