Phantom 2,533 Posted March 18 Craft retailer JOANN files for bankruptcy. Share this post Link to post Share on other sites
Ulitzer95 12,576 Posted March 18 37 minutes ago, Phantom said: Craft retailer JOANN files for bankruptcy. Euro blocked site. Share this post Link to post Share on other sites
En Passant 3,741 Posted March 18 29 minutes ago, Ulitzer95 said: Euro blocked site. (WJET/WFXP) — Crafts retailer JOANN filed for Chapter 11 bankruptcy early Monday morning. The company, with over 800 stores nationwide, is best known for selling craft supplies, home decor and sewing supplies. The filing allows JOANN to continue to operate while it repays its debts, meaning no stores or online shopping is expected to be affected by the filing, according to a press release. Additionally, any obligations to employees, vendors, landlords and other trade creditors will be paid or otherwise satisfied in full. According to court documents, JOANN cited increasing interest rates and decreasing sales after a spike in sales during the COVID-19 lockdown in 2021 and 2022. Despite attempts in June 2023 to reduce costs, the company held over $1.06 billion in funded debt at the time of filing. Go in peace– Oil City church ending religious services due to poor condition The company is expected to receive around $132 million in new capital and reduce its debt by over $500 million. JOANN expects to complete the Chapter 11 process as early as late April 2024, citing strong support from its financial stakeholders. Following this process, the company will likely become a private company, and shares will no longer be listed on Nasdaq or other national stock exchanges, according to the press release. “Over the past several months, JOANN has made meaningful business improvements through the execution of our Focus, Simplify and Grow cost reduction initiative. We are excited by our progress on both top and bottom-line initiatives in the past year and are confident the steps we are taking will allow JOANN to drive long-term growth. We appreciate the support from our financial and industry stakeholders in this agreement, and their confidence in our ability to continue driving positive business change.” Chris DiTullio, Chief Customer Officer and co-lead of the Interim Office of the CEO For more information on how the company will be moving forward, you can visit https://www.joannforward.com/ No, I'm not Canadian, just used a vpn cause I was curious. 1 Share this post Link to post Share on other sites
Bentrovato 1,087 Posted March 19 Ted Baker runs out of dough. Ted Baker fashion chain set to appoint administrators - BBC News 1 Share this post Link to post Share on other sites
Sod's Law 445 Posted March 19 15 minutes ago, Bentrovato said: Ted Baker runs out of dough. Ted Baker fashion chain set to appoint administrators - BBC News You know, I saw that name in the corner of my eye for a split second on the BBC News website and dreaded for a second that Tom Baker had died. 1 Share this post Link to post Share on other sites
CaptainChorizo 1,977 Posted April 5 99 Cent Store The Us discount chain with 371 stores largely across the West Coast will close all it's stores soon and will began liquidating their inventory. 1 1 Share this post Link to post Share on other sites
Bentrovato 1,087 Posted April 5 Muji europe going into admin but future seems hopeful. Shame. I like their stores. Muji to go into administration in another blow to UK high street (msn.com) Share this post Link to post Share on other sites
Bibliogryphon 9,570 Posted April 8 On 19/03/2024 at 15:38, Bentrovato said: Ted Baker runs out of dough. Ted Baker fashion chain set to appoint administrators - BBC News Ted Baker moves nearer the precipice with the closure of 15 stores Share this post Link to post Share on other sites
Whitehouse 872 Posted April 8 Bus building giant Van Hool has gone belly up. 2 Share this post Link to post Share on other sites
Bibliogryphon 9,570 Posted April 10 Wildwood restaurant brand is closing 20 branches in an effort to save the entire chain Share this post Link to post Share on other sites
Evil Grimace 359 Posted April 16 On 12/03/2024 at 00:33, Father Brown said: Superdry wants a small loan of £10 million from Hilco https://news.sky.com/story/struggling-superdry-in-talks-to-tap-hilco-for-new-10m-loan-13092579 Still planning the £10 million raise/loan but also delisting to survive. Superdry to quit stock market in bid for survival Share this post Link to post Share on other sites
Imelda 621 Posted April 25 One of Britain's biggest double-glazing suppliers has crashed into administration, leaving insolvency practitioners engaged in a race to salvage hundreds of jobs. Sky News has learnt that Everest, which has been owned by the prominent financier Jon Moulton's investment firm Better Capital for more than a decade, called in administrators this week. https://news.sky.com/story/double-glazing-giant-everest-crashes-into-administration-13122865 Responsible for one of the most iconic TV adverts - 3 Share this post Link to post Share on other sites
Father Brown 209 Posted April 26 Oops, Imelda beat me to Everest. Saw article today, sorry. NatWest have reported a “sharp” drop in profits though https://news.sky.com/story/natwest-becomes-latest-uk-bank-to-report-sharp-drop-in-profits-13123111 1 Share this post Link to post Share on other sites
Phantom 2,533 Posted May 8 Teen clothing store Rue 21 has filed for bankruptcy. I had no idea they had been in existence since 1970 Share this post Link to post Share on other sites
alt obits guy 3,371 Posted May 16 Red Lobster closes dozens of restaurants in the U.S. Some are having their kitchen equipment go up for auction on an online restaurant liquidator. https://www.usatoday.com/story/money/food/2024/05/14/red-lobster-closed-restaurant-locations-list/73683118007/ Share this post Link to post Share on other sites
alt obits guy 3,371 Posted May 20 On 16/05/2024 at 00:46, alt obits guy said: Red Lobster closes dozens of restaurants in the U.S. Some are having their kitchen equipment go up for auction on an online restaurant liquidator. https://www.usatoday.com/story/money/food/2024/05/14/red-lobster-closed-restaurant-locations-list/73683118007/ Red Lobster now files for bankruptcy protection in the U.S. after securing financing commitments from lenders. It is now seeking a buyer: https://www.cnbc.com/2024/05/20/red-lobster-bankruptcy.html Share this post Link to post Share on other sites
Comped 525 Posted May 20 1 hour ago, alt obits guy said: Red Lobster now files for bankruptcy protection in the U.S. after securing financing commitments from lenders. It is now seeking a buyer: https://www.cnbc.com/2024/05/20/red-lobster-bankruptcy.html Will Darden buy them back on the cheap, or could we see some random private equity group try their luck? Share this post Link to post Share on other sites
Father Brown 209 Posted May 21 Cazoo, no you can’t! To appoint administrators today. https://news.sky.com/story/former-tech-darling-cazoo-crashes-into-administration-13140557 Share this post Link to post Share on other sites
Sly Ronnie 878 Posted May 21 36 minutes ago, Father Brown said: Cazoo, no you can’t! To appoint administrators today. https://news.sky.com/story/former-tech-darling-cazoo-crashes-into-administration-13140557 That will be a big blow to the various sports that Cazoo had improbably sponsored for the last few years. I had always wondered where the Hell they were getting this money from. 3 Share this post Link to post Share on other sites
YoungWillz 21,026 Posted May 21 2 minutes ago, Sly Ronnie said: That will be a big blow to the various sports that Cazoo had improbably sponsored for the last few years. I had always wondered where the Hell they were getting this money from. What with Mock The Week gone and now Cazoo, looks like Ed Gamble's career is over. Share this post Link to post Share on other sites
TQR 14,385 Posted May 21 22 minutes ago, YoungWillz said: What with Mock The Week gone and now Cazoo, looks like Ed Gamble's career is over. Poor Ed. Looks like he'll have to get by on just the three dozen podcasts he does. 1 1 Share this post Link to post Share on other sites
YoungWillz 21,026 Posted May 21 11 minutes ago, TQR said: Poor Ed. Looks like he'll have to get by on just the three dozen podcasts he does. I've never understood podcasts. Seems to me a version of student radio, with a bunch of folk who can't get real work wanking over each other's chatter and giggling like kids on a bus about their in-jokes. Folk who listen to them are once again trying to blot out the real world around them. Easily used as propaganda too, not subject to the normal rules of right to reply, fairness and balance. Share this post Link to post Share on other sites
TQR 14,385 Posted May 21 2 hours ago, YoungWillz said: I've never understood podcasts. Seems to me a version of student radio, with a bunch of folk who can't get real work wanking over each other's chatter and giggling like kids on a bus about their in-jokes. Folk who listen to them are once again trying to blot out the real world around them. Easily used as propaganda too, not subject to the normal rules of right to reply, fairness and balance. I dunno, there are three I regularly listen to. Off Menu, which does have Ed Gamble in it, is almost always really funny. I always have it on when I'm cooking. The News Agents, because only Emily Maitlis, Lewis Goodall and Jon Sopel can make sense of what's going on. And then when that pisses me off, my favourite... Where There's A Will, There's A Wake. Kathy Burke and a guest talking about how they want their death to play out. This one is fucking excellent. Lots of the others I've heard are as you describe, though. 3 Share this post Link to post Share on other sites
Sod's Law 445 Posted May 21 1 hour ago, YoungWillz said: Folk who listen to them are once again trying to blot out the real world around them. Easily used as propaganda too, not subject to the normal rules of right to reply, fairness and balance. I listen to the history ones like Dan Snow's History Hit. Not a lot of schoolboy giggling and politician sabre waving in those, though I'll accept I probably don't represent the typical podcast audience. In terms of spoonfeeding propaganda, I don't really see how even the podcasts you describe are any worse than older people who only read newspapers that confirm their own views, and at least they're not just swallowing what some Murdoch type figure wants them to think. 2 Share this post Link to post Share on other sites
Spade_Cooley 9,515 Posted May 21 Podcasts peaked 11 years ago with "I would eat out her asshole for muscular dystrophy" and it's been a constant downward slope ever since. 1 1 Share this post Link to post Share on other sites
