bankruptcy Archives

A Big Lots store in [[Murphy, North Carolina]] 7 April 2023, 16:39:50

Big Lots Initiates Store Closures Following Failed Sale Attempt – NewNooz

Vikram Patel1 month ago04 mins

Discount retailer Big Lots has announced the commencement of going-out-of-business sales across its remaining stores. This move comes after the company failed to secure a sale amid its bankruptcy proceedings. The Columbus, Ohio-based retailer, known for offering affordable home furnishings and decor, had initially planned to sell its assets to Nexus Capital Management LP. After…

A TGI Fridays parking lot at dusk with illuminated signage on the building, under a dim sky with shades of blue, purple, and orange. The lot has a few scattered cars, light poles casting warm yellow light on the pavement, and trees lining the borders. The scene captures the calm of early evening.

TGI Fridays Files for Chapter 11 Bankruptcy Amid Pandemic Challenges

Vikram Patel3 months ago3 months ago03 mins

TGI Fridays executive chairman, Rohit Manocha, stated that these difficult steps aim to protect stakeholders’ interests, including franchisees and team members. The bankruptcy filing affects only the 39 restaurants operated by TGI Fridays’ parent company. The chain operates over 160 U.S. locations but has 56 franchisees in 41 countries, which remain open during this process….