CNN: Big chains filed for bankruptcy and closed stores every week in July. Here are 9 of them

CNN: Big chains filed for bankruptcy and closed stores every week in July. Here are 9 of them. “Coronavirus, massive amounts of debt and a shift in shopping habits created a lethal cocktail of bankruptcies and store closures in July. So far this year, 21 private and public retailers have filed for Chapter 11 according to BankruptcyData.com. That’s more than double the number that filed for the same time period last year. In total, 20 retailers filed for bankruptcy protection in 2019.”

CNN: Ascena, owner of Ann Taylor and Lane Bryant, files for bankruptcy

CNN: Ascena, owner of Ann Taylor and Lane Bryant, files for bankruptcy. “Ascena Retail Group, the owner of Ann Taylor and other clothing brands, has filed for bankruptcy. It’s the latest retailer forced to take that step during the Covid-19 pandemic. The company, which has been struggling long before coronavirus struck, said it would close all of its Catherines stores, a significant (but undisclosed) number of Justice stores and a smaller number of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores.”

New York Times: Federal Aid Has So Far Averted Personal Bankruptcies, but Trouble Looms

New York Times: Federal Aid Has So Far Averted Personal Bankruptcies, but Trouble Looms. “As of mid-June, the Treasury Department had issued nearly $270 billion worth of stimulus payments to some 160 million people. Unemployment benefits, which normally average about $340 a week, were temporarily increased by $600 a week. Some unemployed people now have more income than when they were working. But those benefits are set to expire this month.”

EXCLUSIVE: Bankruptcy cases plunge during coronavirus pandemic (WXII)

WXII: EXCLUSIVE: Bankruptcy cases plunge during coronavirus pandemic. “The number of bankruptcy filings nationwide during the coronavirus pandemic has actually plunged, down 34 percent for individuals and down 28 percent for businesses. Some states saw even steeper drops, including reductions of filings by individuals of 46 percent and 54 percent in Massachusetts and New York, respectively…. At first glance, it’s a counter-intuitive finding during the worst economy since the Great Depression. But Chris Mayfield, a business manager at Fitch Solutions for the PacerMonitor product, says trillions in federal stimulus and aid programs are temporarily keeping families and businesses afloat and out of bankruptcy court.”

CNN: 24 Hour Fitness files for bankruptcy and closes 100 gyms

CNN: 24 Hour Fitness files for bankruptcy and closes 100 gyms . “24 Hour Fitness said Monday in its Chapter 11 filing that it has secured $250 million in funding to help reopen some of its clubs and expects a majority of locations to be open by the end of June. However, it’s emerging as a smaller chain: It permanently closed 100 US locations in 14 states with roughly 300 clubs remaining.”

CNBC: Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic

CNBC: Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic. “The more than a century old car rental firm Hertz Global Holdings filed for bankruptcy protection on Friday after its business all but vanished during the coronavirus pandemic and talks with creditors failed to result in needed relief.”

BuzzFeed News: The J.Crew Bankruptcy Has Exposed A Hard Truth About The Influencer Economy

BuzzFeed News: The J.Crew Bankruptcy Has Exposed A Hard Truth About The Influencer Economy. “The news this week that the parent company of beloved preppy brand J.Crew and its hip millennial sister, Madewell, had filed for bankruptcy led to an outpouring of sadness from fans across social media. It also led to a stark revelation about the influencer economy being exposed in a way I haven’t quite seen before.”

Chicago Sun-Times: Johnson Publishing Co. art auction fetches nearly $3 million, doubling expectations

Chicago Sun-Times: Johnson Publishing Co. art auction fetches nearly $3 million, doubling expectations. “Artwork that once decorated the Michigan Avenue offices of Johnson Publishing Co., which filed for bankruptcy in April, fetched nearly $3 million at auction last week — more than doubling expectations. The 87 pieces of African American art was sold in a live auction Jan. 30 in New York City.”

Chicago Sun-Times: Piecemeal sell-off of bankrupt Johnson Publishing Co. continues with art auction

Chicago Sun-Times: Piecemeal sell-off of bankrupt Johnson Publishing Co. continues with art auction. “The last major auction of assets belonging to Johnson Publishing Co., which filed for bankruptcy in April, will take place in late January when 100 pieces of art that once decorated the company’s Michigan Avenue headquarters are put on the block.”

PR Newswire: New website officialfireclaims. com and 888-909-0100 phone number opened to help NorCal wildfire victims file loss claims to PG&E Bankruptcy Court (PRESS RELEASE)

PR Newswire: New website officialfireclaims.com and 888-909-0100 phone number opened to help NorCal wildfire victims file loss claims to PG&E Bankruptcy Court (PRESS RELEASE). “This extension and information outlets (website, phone number and service centers) are important to anyone who has not already filed a claim with the PG&E bankruptcy court, including, but not limited to: property owners, renters, occupants, businesses and others. Filing a claim is free and can be filed for any reason, but typical claims include damages to or loss of a home, personal property and more. Renters may file claims as well as homeowners. Non-residents may also file a claim. Persons or entities can also file claims for losses or damages that were not covered by their insurance.”

The Conversation: Why historians are fighting to save Thomas Cook’s enormous archive

The Conversation: Why historians are fighting to save Thomas Cook’s enormous archive. “The collapse of Thomas Cook left 155,000 tourists stranded overseas, forcing the UK government to step in to orchestrate the biggest ever peacetime repatriation. The company’s 9,000 employees woke up on September 23 with no job. The focus is, justifiably, on the people immediately affected by this terrible news. But it’s also important to take the long view. With this 178-year-old firm, its heritage is also about to be lost and a number of business historians – myself included – are fighting to save it.”

The Verge: Music crowdfunding website PledgeMusic goes offline amidst bankruptcy proceedings

The Verge: Music crowdfunding website PledgeMusic goes offline amidst bankruptcy proceedings. “PledgeMusic, a crowdfunding site designed to allow fans to back projects from artists, has gone offline, according to Variety. The company closed down its operations earlier this year as it went into bankruptcy proceedings, and the site’s closure means that artists won’t be able to retrieve information on their profiles and fans.”

Chicago Tribune: Getty Trust to buy Ebony photo archives for $28.5 million after winning bankruptcy auction

Chicago Tribune: Getty Trust to buy Ebony photo archives for $28.5 million after winning bankruptcy auction. “The J. Paul Getty Trust is buying the historic Ebony photo archives for $28.5 million, after emerging as the top bidder Wednesday in the weeklong Johnson Publishing bankruptcy auction.