Shabby Chic
- Filed Chapter 11 on January 29, 2009
- Began liquidation of its eight retail stores in March, 2009
- Liquidation sales are expected to be completed in June, 2009
- Filed Chapter 7 bankruptcy on February 2, 2009
- Will liquidate 19 stores in 7 states
- Filed Chapter 11 on February 5, 2009
- Signed a $45.8 million agreement with Southern Family on April 30, 2009
- 31 stores will be renovated, and liquidation sales at 25 stores began May 8, 2009
- CEO Kent Moore resigned and was replaced by a turnaround specialist from Alvarez & Marsal
- Southern Family takes possession of 31 stores beginning June 1 and will renovate and restock the stores, before re-opening them
- Southern Family bought 31 Bruno's and Food World stores for $46 million.
- Liquidated 25 Bruno's and Food World stores in Alabama and Florida.
- Re-opening 31 locations after a 29-day conversion process.
- Filed Chapter 11 on February 9, 2009
- Laid off 25 employees
- 8 stores have been closed
- CEO was fired in early May by the Chief Restructuring Officer
- Received debtor in possession financing from Greystone Business Credit
- Sale of the remaining 47 stores was approved by the court on June 10, 2009
- Will start accepting bids for the stores from one or more buyers who will continue operating the stores
- Filed Chapter 11 on February 9, 2009
- Began liquidation of 30 of its 135 stores on March 13, 2009
- Secured $13 million in debtor-in-possession financing from Wells Fargo Retail Finance
- Sold in bankruptcy auction to Gordon Brothers Group for $7.3 million after obtaining court approval to liquidate its remaining 105 stores on May 21, 2009
- Approximately 750 people will be unemployed when liquidations conclude
- All stores are expected to be liquidated by August 31, 2009
- Filed Chapter 11 on February 20, 2009
- Announced on March 13, 2009 that it would liquidate 400 of its 800 stores in 40 states
- Began liquidation of 129 Boater's World stores in 27 states on March 20, 2009
- Filed a request on July 10, 2009 to auction its remaining 370 stores because it couldn't secure funding to continue operations.
- CEO David Ritz and a team of investors beat out three liquidators at auction and bought the company's assets and formed a new entity, Ritz Camera & Image.
- Will close 65 more stores
- Filed Chapter 11 on March 4, 2009
- Immediately closed 11 of its 21 stores
- Filed Chapter 11 on March 4, 2009
- Immediately secured $50 million of debtor-in-possession financing
- Sold to liquidator Gordon Brothers Group for $61 millon
- Started liquidating the store's $128.5 million worth of merchandise on April 10th and willclose all 31 stores when liquidation sales conclude
- Store closings will result in 1,600 job losses
- Filed Chapter 11 on March 4, 2009
- Plans to sell four stores to Canadian jewelry retailer, Spence Diamonds
- Ten stores will be sold to Robbins Bros Jewelry, an investment firm that currently owns 49% of the company
- No members of the Robbins family will have ownership of the company, and CEO, Steve Robbins, will likely step down
- Likely many employees at the ten operating stores will retain their jobs
- Several objections to the structure of the proposed sale have been filed with the bankruptcy trustee
- Creditors filed a petition to force the company into Chapter 7 bankruptcy on March 17, 2009
- Chapter 7 bankruptcy was converted to a Chapter 11 reorganization on March 27, 2009
- $550,000 debtor-in-possession financing secured from Sleepy's
- Proposed sale of the company for $2.1 million to Sleepy's opposed by franchisees and delayed by the court until mid-May to allow other purchase bids
- A franchisee announced that he would bid against Sleepy's at the bankruptcy auction to purchase the company, which he intends to continue to operate as a web-based and telephone sales business
- Deadline for submitting bids was May 21, 2009, auction proceedings are scheduled for May 26, with sale approval scheduled for May 28, 2009.
- Filed Chapter 11 on March 18, 2009
- Announced the same day that it would sell all 32 of its stores to Walgreens
- Acquired $40 million debtor-in-possession financing to keep its stores open and operating until the Walgreens sale is complete and the Chapter 11 is discharged
- Walgreen Co. announced on May 8, 2009 that the acquisition of 31 Drug Fair stores in central and western New Jersey had been completed
- Filed chapter 11 March 23, 2009
- Closed 8 stores, cut 50 jobs
- Still operating 21 stores in California and an e-commerce site
- Zumiez Inc. has expressed an interest in purchasing the company
- Filed Chapter 11 on March 23, 2009
- Secured $125 milion debtor in possession financing from GE Capital, which expires April 8, 2010
- Requested court approval to cancel 31 store leases
- Received court approval to reject leases for "dark" or closed stores
- Requested on May 24, 2009 to extend the July 21, 2009 deadline to assume or reject leases to October 19, 2009
- Obtained a 60-day extension for filing its reorganization plans, which are now due on September 21, 2009, although it had asked for a 150-day extension
- Restructuring debt with 3,750 creditors
- Filed Chapter 11 March 23, 2009
- Previously filed Chapter 11 in 1995, and emerged in 1997 after downsizing its operations.
- Will liquidate five of eight stores immediately, laying off 175 employees
- Seeking buyer for remaining 3 stores
- JOB Investments provided $2 million debtor-in-possession financing.
- JOB became a stalking horse bidder with a $3.6 million bid, which would include the $2 million DIP financing alredy supplied.
