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2010 Retail Industry Chapter 11 - Complete List of Retail Bankruptcy Filings

Chapter 11 Bankruptcy Protection and Chapter 7 Liquidation List

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This is a complete list of the major U.S. retail industry companies that have filed for Chapter 11 bankruptcy protection of Chapter 7 liquidation in 2010. Some of these bankruptcy proceedings listed here were initiated in 2009, but are included on the 2010 list as well because they will be resolved in 2010. This list is arrange according to bankruptcy filing dates.

This Chapter 11 list was last updated on 2-15-10. The most recent updates are indicated by bold text.

U.S. Retail Industry Companies That Filed Chapter 11 & Chapter 7 Liquidation in 2010: (See also the 2009 Chapter 11 list)

Boscov's
  • Filed Chapter 11 on August 8, 2008
  • Company was sold on November 4, 2008 to a private group led by Albert Boscov, son of the retail chain's founder
  • Will hire 240 people in 2010 in order to improve customer service.
Basha's
  • Filed Chapter 11 July 13, 2009
  • Obtained $45 million debtory-in-possession funding
  • Closing 10 stores in Arizona on July 21, 2009, which will cut approximately 1,000 jobs
  • Plans to continue operating its remaining stores in Arizona, California, and New Mexico and emerge from bankruptcy in early 2010
  • Asking the bankruptcy court to close 14 additional stores, 10 in the Phoenix area, and four in other parts of Arizona. Seeking court approval for voicing lease agreements at those locations.
  • Seeking to void leases of 14 stores that are now closed, and at the company's headquarters
  • The preliminary reorganization pays of $300 million in debt and allows the Bashas family to retain ownership of the 120-store chain.
Igourmet
  • Filed Chapter 11 on October 22, 2009
  • Is owned by founder Spencer Chesman, and 15 minority partners.
  • Asked for an extension to file its reorgnization plan until April2, 2010.
  • Twenty of igourmet's largest unsecured creditors have formed a committee to secure a better deal for themselves in the reorganization process.
  • A hearing is scheduled for February 4, 2010
Crabtree & Evelyn
  • Filed Chapter 11 on October 28, 2009
  • Closed 30 of its 126 stores in the U.S.
  • Hopes to secure exit financing to pay off debort-in-possession financing from its parent company, Britain's Crabtree & Evelyn Holdings Ltd.
Simmons Bedding
  • Filed Chapter 11 on November 16, 2009
  • Filed a prepackaged plan in which Ares Management and a division of Ontario Teachers' Pension Plan would acquire all the operations, and reduce debt from $1 billion to $450 million.
  • Expects to emerge from Chapter 11 within 60 days.
Penn Traffic
  • Filed Chapter 11 on November 18, 2009
  • Operates 79 stores in Pennsylvania, New York, Vermont, and New Hampshire under the names of P&C, Quality Markets, and BiLo Foods.
  • The company plans to sell all of its stores and assets.
  • If a buyer cannot be found, the chain will be liquidated in Feburary, 2010 and 4,100 employees will be laid off.
  • Price Chopper made a stalking horse bid of $12.3 million for four NY stores on December 4, 2009.
  • An $85 million bid by Tops Friendly Markets to achquire 79 Penn Trafic supermarket locations was approved by the bankruptcy court on January 27, 2010.
  • Tops plans to keep a majority of the stores open, pending FTC approval.
Boston Blackie’s
  • Filed Chapter 11 on December 3, 2009
  • Operates 8 restuaurants in the Chicago area, and plans on continuing operating all locations while it reorganizes its debts.
Bully’s Sports Bar & Grill
  • Filed Chapter 11 on December 7, 2009
  • Will continue to operate all 13 locations in northern Nevada during the reorganization.
The Walking Company
  • Filed Chapter 11 on December 7, 2009
  • Hopes to renegotiate leases and close unprofitable stores as part of the reorganization process.
  • Plans to continue operating 210 stores during the reorganization process.
  • Will seek court approval to close 40 additional stores at a court hearing scheduled for February 16. If approved, the total number of store closings will be 130.
  • The company's ability to renegotiate leases will determine its ability to stay in business beyond the Chapter 11 proceedings.
More retail Chapter 11 filings >>
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