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On January 26, 2021, it was announced that Belk would file for Chapter 11 bankruptcy, continuing to operate normally through the bankruptcy process, which Sycamore expected to exit by the end of February 2021.
On February 23, 2021, it was announced that Belk, which was the only remnant of The Limited left, had filed Chapter 11 bankruptcy in Houston, the first step in an organization plan that would allow Belk's owner Sycamore Partners to cede a large stake in the company to its lenders while maintaining control of the company.
The former York, Pennsylvania-based company BonTon filed for bankruptcy in February 2018 and sold the name to CSC Generation, which sold it to BrandX.com in 2021, operating an e-commerce site under the brand name.
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In July 2020, it was announced that Sycamore Partners had made a $1.75B offer to acquire department store chain and competitor JCPenney out of bankruptcy, and would rebrand 250 JCPenney stores to the Belk name, to help the chain compete directly with Macy's.
Small business bankruptcies are on the rise, seeing a nearly 30 percent rise in Chapter 11 bankruptcy — which allows the company to reorganize its debts and restructure the company — filings ...
The new stores opened just prior to the 2008 economic downturn and in August 2008, Boscov's filed for Chapter 11 bankruptcy. Albert Boscov came out of retirement and regained control of the company. As part of the bankruptcy, 10 stores were shuttered, two of which were reopened. [16]
On March 15, 2020, when businesses were ordered to temporarily close in many States, the chain closed all of its stores and furloughed its employees. J. C. Penney became the fourth major national retailer to file for bankruptcy in May 2020.
This is a list of banks in the United States affected by the 2007–2008 financial crisis. The list includes banks (including commercial banks, investment banks, and savings and loan associations) that have: filed for bankruptcy. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012.
The trustee is asking to convert the company’s debt reorganization Chapter 11 bankruptcy into a liquidation Chapter 7, according to court documents.