The long, slow death of the American mall continues as Perfumania files for bankruptcy. Retailer Perfumania has filed for a Chapter 11 bankruptcy, joining a long parade of former shopping mall stalwarts that have headed for the exits. Behind the death of the shopping mall is the simple fact that there are not enough feet […]
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As an attorney who specializes in bankruptcy, I can’t help but note with dismay the huge increases in retail bankruptcies, and of course it’s the smaller businesses that provide the majority of American jobs that are feeling the heat.
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Cold feet. A double-booked venue. Inclement weather forecast. Wardrobe malfunctions. These are just a few of the obstacles couples have to dodge when tying the knot.
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It’s being called the Retail Apocalypse by analysts as 2017 sees massive spikes in retail bankruptcies. Some are saying that the retail bubble has burst, and the fallout is happening now. Retailers across the country, including big name brands such as Payless, Gymboree, and Bebe, are shuttering locations, filing for bankruptcy protection, reorganizing, or liquidating.
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When you have invested a significant amount of time and effort into business, only to have it fail, it can be a discouraging and very emotional experience. You want to wind up the business in the most responsible manner possible, but bankruptcy may be your best bet.
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The news caused a wild flutter online, even as one of the restaurant’s principals claimed that the matter had been resolved by press time. The restaurant and its property are on the National Register of Historic Places, but that doesn’t guarantee all will be well.
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Bankruptcy filings have fallen from their high of 1.2 million in 2012 to just over 800,000 for 2016. This significant decrease has been felt by most states aside from Alaska, North Dakota, Wyoming, and Montana owing to the downturn in the fossil fuel markets, Delaware, and areas of Appalachia and the South served by the fourth, fifth, eighth, 10th, and 11th circuit courts.
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