Category Archives: Bankruptcy & Creditor’s Rights

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Possible Chapter 22 for EMS Brand – Sports Direct Eying EMS After Poor Holiday Sales

Posted in Bankruptcy & Creditor's Rights

Reuters reports that Sports Direct International Plc, Britain’s largest sporting goods company with about 700 stores throughout Europe, is discussing a bid for Eastern Outfitters LLC (“Eastern Outfitters”), the parent of Bob’s Stores and Eastern Mountain Sports (“EMS”). Versa Capital Management LLC (“Versa”) is the owner of Eastern Outfitters. Last April, Vestis Retail Group LLC,… Continue Reading

Retailer, The Limited, Files for Chapter 11 in Delaware

Posted in Bankruptcy & Creditor's Rights

As predicted last week, U.S. women’s apparel chain The Limited filed for Chapter 11 bankruptcy protection today in the United States Bankruptcy Court for Delaware on Tuesday, after closing all 250 stores, under case number 17-10124. See 10 Retailers to Watch for Possible Bankruptcy Filings in 2017. This filing continues the trend in the competitive… Continue Reading

10 Retailers to Watch for Possible Bankruptcy Filings in 2017

Posted in Bankruptcy & Creditor's Rights

2016 ended on a high note with higher than expected holiday sales and overall a better real estate market. However, there were a number of retailers that sought bankruptcy protection. Some of the retailers, like Fairway and EMS, emerged as new entities in Chapter 11 bankruptcy proceedings while their operations continued. Yet others, like Sports… Continue Reading

Another Sports Retailer Bankruptcy – Golfsmith International, Inc. Files for Chapter 11 Protection in Delaware

Posted in Bankruptcy & Creditor's Rights, Commercial, Retail & Industrial Real Estate, Real Estate

Golfsmith International, Inc., a specialty golf retailer with 109 Golfsmith stores across the U.S. and 55 Golf Town stores in Canada, filed for Chapter 11 bankruptcy protection in Wilmington, Delaware on Wednesday, September 14, 2016. This case follows other large sports retailer bankruptcy cases, including Sports Authority and Eastern Mountain Sports, who both filed Chapter… Continue Reading

Shipping Giant Hanjin Files International Bankruptcy Proceeding In Newark

Posted in Bankruptcy & Creditor's Rights

Last week, South Korea’s Hanjin Shipping Company (“Hanjin”) filed for bankruptcy protection under the Debtor Rehabilitation and Bankruptcy Act in the Seoul Central District Court in South Korea. As the world’s seventh largest container shipper servicing 8% of the Trans-Pacific trade in the United States, Hanjin’s bankruptcy filing is cause for concern for landlord retail… Continue Reading

PacSun Files for Chapter 11 protection in Delaware – Next Batch of Expected Retail Chapter 11 Bankruptcy Filings

Posted in Bankruptcy & Creditor's Rights

On the heels of the Joyce Leslie and Sports Authority Chapter 11 bankruptcy filings, another retailer just filed for Chapter 11 bankruptcy protection, and it appears that two (2) more retailers are preparing to file to reorganize. PacSun, more formally known as Pacific Sunwear of California, Inc., just filed for Chapter 11 bankruptcy protection this… Continue Reading

NJ Federal Court Says Condo Association Lien May Have Priority in Chapter 13 Bankruptcy Plan

Posted in Bankruptcy & Creditor's Rights, Community Associations

Timothy Duggan, Esquire and Chris Florio, Esquire of Stark & Stark, as Amicus Curiae (friend of the Court), were successful in convincing the United States District Court for the District of New Jersey to reverse a bankruptcy court decision, which allowed a bankruptcy condominium owner to avoid paying a condominium lien in full under a bankruptcy plan. The Condominium Association Institute… Continue Reading

Sports Authority Files for Chapter 11 Bankruptcy in Delaware

Posted in Bankruptcy & Creditor's Rights

This morning, Sports Authority, Inc. (“Sports Authority”) filed for Chapter 11 bankruptcy protection in the United States District of Delaware, Bankruptcy Court, case # 16-10529. The retailer with more than 450 stores is expected to close about 140 locations within the bankruptcy proceeding. Sports Authority was once the biggest sporting-goods chain in the U.S., but… Continue Reading