Over a dozen major retailers have filed for bankruptcy so far in 2018, closing down the majority of their stores, if not all of them. These retailers include clothing chains, department stores, and shoe stores that will likely be household names for you if you grew up in the era of mall shopping. Not surprisingly, …
Continue reading “Mattress Firm & Other Retailers Filing Bankruptcy in 2018”
The CEO of Sears Holdings Corporation – best known to the public as Sears – has a plan to save his retail chain from bankruptcy. The controversial plan will require the help of highly skilled bankruptcy attorneys to ensure it goes smoothly. Why is the Bankruptcy Plan Controversial? The potential controversy stems from the fact …
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According to the Lucky Dragon developers, the Lucky Dragon is worth $143 million. However, the lender begs to differ, reporting that the un-successful hotel-casino is worth less than half of that and isn’t earning nearly enough revenue to cover its operating costs—much less its loans. Devaluing After A Series of Financial Issues Lucky Dragon developers …
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Caesar’s recently awarded its Chief Executive Officer, Mark Frissora, $29.4 million in compensation for 2017, which is the year the hotel-casino emerged from Chapter 11 Bankruptcy. Post Bankruptcy Earning The $29.4 million breaks down, roughly, as follows: $2 million for a base salary, $4.5 million as a cash bonus, $16.5 million in retention-restricted stock, $6 …
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If you grew up with Geoffrey the Giraffe and the dream of being a Toys R Us Kid forever, it is now time to put your childhood fantasy to bed. Or, more accurately: close down your nostalgic dream. After an unsuccessful Chapter 11 bankruptcy, the retailer is closing its doors for good. Toys R Us …
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Prior to its scheduled foreclosure auction, the Lucky Dragon Casino, just off the Strip, has filed for Chapter 11 Bankruptcy. Why Are they Filing Chapter 11 Bankruptcy in Las Vegas? The Lucky Dragon opened in 2016, and its primary focus was to attract baccarat clients — a strategy which may have contributed to its lack …
The Elephant Bar in Las Vegas is located in The District at Green Valley Ranch. Unfortunately, this prime location was not enough to keep the chain-restaurant above water, as it has made the decision to file for Chapter 11 Bankruptcy. How Did They Reach Bankruptcy? The Elephant Bar’s holding company, CM Ebar LLC, stated that …
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According to a lawsuit filed in Las Angeles County by 60 Chinese nationals who lent money to the SLS project in exchange for U.S. citizenship: the SLS has not turned a profit since opening in 2014 and is “on the verge of bankruptcy.” An Investment Deal The investors lent approximately $400 million to the owners …
Less than four months after filing for Chapter 11 Bankruptcy, the clothing chain True Religion has exited bankruptcy. A Solid Bankruptcy Reorganization Plan The retailer’s reorganization plan, approved in early October, called for a reduction in its loan terms from $471 million to $113 million. As well, the plan called for an extension of its …
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A mere two weeks after filing for bankruptcy, Toys ‘R’ Us debuted an augmented reality experience in hopes of helping to revive its stores and save its legacy. What is This New Augmented Reality? The augmented reality experience places computer-generated images on top of the actual world — or one’s surrounding environment — in a …
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