Category: RETAIL

Toys R Us Hires Bankruptcy Law Firm

WOLF STREET–Brick-and-mortar retail meltdown strikes again – this time, Toys R Us. In what is a classic sign, the company has hired mega law firm Kirkland & Ellis, whose bankruptcy-and-restructuring practice is considered a leader in the now booming bankruptcy-and-restructuring industry. Toys R Us, with 1,694 stores globally, has $5.2 billion in long-term debt, according to its

Outgoing Sears Canada employees try to stop $7.6M in bonuses for execs

Former and current employees of Sears Canada have filed a legal motion in an attempt to stop dozens of company executives from splitting $7.6 million in retention bonuses while many laid-off workers miss out on severance payments. In court documents, lawyers for the employees call the bonus pay “excessive” after 2,900 employees from 59 stores

Alfred Angelo Bridal closing all 66 Store Locations?

Brides were in for a surprise when they were met with locked doors at Alfred Angelo and a sign reading “due to unforeseen circumstances, we will only be open to customers who are picking up their orders.” “You don’t find the perfect dress more than once, so now I have to start back all over

J.C. Penney to introduce ‘toy shops’ in all stores

J.C. Penney plans to create toy shops within its department stores in an effort to recapture the magic from the days when excited kids and parents leafed through holiday catalogs. Seeking its footing amid rickety times for store-based retailing, the chain is hoping to capitalize on a successful decision to revive toy sales during the 2016 holiday

Nordstrom ready to make ANOTHER brilliant move as the rest of retail sinks

Department store chain Nordstrom announced on Thursday that members of the Nordstrom family are exploring the possibility of taking the company private, according to a company press release. Nordstrom did not immediately respond to requests from Retail Dive to comment further on the news. The group considering the move includes: Company Co-Presidents Blake Nordstrom, Peter

Payless ShoeSource could close another 400 stores in bankruptcy

Payless ShoeSource could nearly double the number of store closures under its bankruptcy plan as the extent of the discount footwear chain’s troubles come into sharper focus. The company, which filed for Chapter 11 bankruptcy protection in April, is asking a federal bankruptcy judge for permission to close up to 408 additional stores. Those closings

Michael Kors to Close 100 to 125 Stores Over Next Two Years

Michael Kors is down 8% at $33.38 a share after the company provided forward sales guidance that fell short of analyst estimates. The company said first-quarter revenue will be $910 million to $930 million, trailing the consensus analyst forecast of $944 million. The luxury fashion retailer also reported that fourth-quarter comparable sales slipped 13.6%, a bigger loss

While Barnes & Nobles close, Amazon is opening real live bookstores

A luxury shopping complex on New York’s Columbus Circle opens to a new tenant Thursday: Amazon. While some may be excited that this is an “Amazon Store,” similar to Apple and Microsoft’s respective flagship stores located just blocks away, Amazon says its goal for the new store is the same as it was when the

RUMOR: Kroger and Whole Foods to merge?

Edward Kelly, an analyst for Credit Suisse, said a merger between Kroger Co. and Whole Foods Market would benefit both retailers, according to Supermarket News. In a research note, Kelly said the possibility of a deal like this occurring is heightened by last week’s report that activist investor Jana Partners has taken a position in

Court rules cell phones cause CANCER…

A longtime Telecom Italia employee has been awarded monthly social security payments after a court found that his brain tumor was caused by improper use of a company-issued cellphone. Lawyer Stefano Bertone said Thursday that it was the first trial court verdict of which he was aware in the world “to recognize a link between

FBI investigating sophisticated ‘skimmer’ devices on US petrol pumps

The FBI and US secret services have reportedly been called in to investigate a series of sophisticated “skimmer” devices planted inside petrol pumps in Pennsylvania. Two of the devices were found at a petrol station in Schuylkill County allowing the perpetrators to steal PIN numbers from cards without any visible sign the pump had been tampered with.