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Tag:
Bankruptcy
Arlington
Business
Major Mall-Based Chain To Close 543 Stores After Filing For Bankruptcy
A major retailer primarily located in malls and headquartered in Pennsylvania is set to close all 543 of its stores following its third Chapter 11 bankruptcy filing. Closures for all rue21 locations are expected to be completed within the next two months with going-out-of-business sales coming soon. The company, headquartered in Pennsylvania outside Pittsburgh, had first filed for bankruptcy in 2003, and then for a second time in 2017, when it closed around 400 stores. Founded in 1970, rue21 specializes in women's & men's casual apparel and accessories. rue21 has locations in …
White Plains
Business
Major Mall-Based Chain To Close 543 Stores After Filing For Bankruptcy
A retailer primarily located in malls is set to close all 543 of its stores following its third Chapter 11 bankruptcy filing. Closures for all rue21 locations are expected to be completed within the next two months with going-out-of-business sales coming soon. Founded in 1970, rue21 specializes in women's & men's casual apparel and accessories. In its filing on Thursday, May 2, the company said, "It became clear that offers to buy the debtors' assets at their current worth could not exceed the expected profits from selling off the closing stores and assets. "As a result, the deb…
Nassau
Business
Rite Aid Announces Additional Long Island Store Closures After Declaring Bankruptcy
Rite Aid has announced new store closures after the struggling pharmacy chain filed for bankruptcy in the fourth quarter of 2023. Shortly after declaring bankruptcy, Rite Aid announced 154 store closures, with 20 in New York, and 14 on Long Island. In a filing on Tuesday, April 9, the company said 17 more stores, including three in New York (with two on Long Island) are now slated for closure. Rite Aid currently has 2,000 stores and about 44,000 employees. The Long Island stores slated for closure (with the newly announced closures in bold) are: 283 West Jericho Turnpike, Huntingto…
Suffolk MA
Business
Rite Aid Announces Massachusetts Store Closure After Declaring Bankruptcy
Rite Aid has announced new store closures after the struggling pharmacy chain filed for bankruptcy in the fourth quarter of 2023. Shortly after declaring bankruptcy, Rite Aid announced 154 store closures. In a filing on Tuesday, April 9, the company said 17 more stores, including one in Massachusetts, in Fall River, at 10 Stafford Road, Rite Aid currently has 2,000 stores and about 44,000 employees. Rite Aid is one of a number of drugstore chains facing litigation related to the deadly abuse of opioids and more than a thousand lawsuits have been filed claiming Rite Aid illegally…
Hudson
Business
New Jersey's Last-Standing Sears Store In Jersey City's Newport Centre Says It's Closing
And then there were none. New Jersey's last-standing Sears store, located in Jersey City, appears to be closing. The store at Newport Centre announced a store closing sale on Friday evening, Jan. 5 on Facebook. A voice answering service said the store was closed when Daily Voice called Friday at 7 p.m. Daily Voice has reached out to the Simon Property Group, who owns Newport Centre, and Sears corporate for comment. Sears Holdings filed for bankruptcy in 2018. The Jersey City store became the final Sears in New Jersey in 2020 after the store in Hackensack — a local landmark — shutter…
Norfolk
Police & Fire
Murder-Suicide: Autopsy Results Shed Light On Dover Family's Deaths
The family found dead inside a Dover mansion last week died of a murder-suicide, autopsy reports found this week. Rakesh Kamal, 57, Teena Kamal, 54, and their daughter Arianna Kamal, 18, were found shot to death inside their 11-bedroom, $4 million home in Dover about 20 miles from Boston just before 7:30 p.m. on Dec. 28, the Norfolk County District Attorney's Office said. They had all been shot to death. An autopsy found that Rakesh Kamal killed his wife and daughter before turning the .40-caliber pistol on himself, the prosecutor's office said. The gun was…
Baltimore
Real Estate
Rite Aid Is Selling These Maryland Leases After Filing For Bankruptcy
The leases of all six Rite Aid stores in Maryland that are closing amid the recent bankruptcy filing are being sold. A&G Real Estate Partners is acting as the real estate advisor for the pharmacy chain, which filed for bankruptcy on Oct. 15, and has plans to close 154 underperforming stores nationwide. The deadline for the following leases for in Maryland is Monday, Nov. 20: 5808 Ritchie Highway, Baltimore 5 Bel Air South Parkway, Bel Air 728 East Pulaski Highway, Elton 7501 Ritchie Highway, Glen Burnie The deadline for the following leases for in Pennsylvania is Wednesday, Dec. 20: …
Bucks
Real Estate
Rite Aid Is Selling These Pennsylvania Leases After Filing For Bankruptcy
Of the 39 Rite Aid stores closing in Pennsylvania amid filing for bankruptcy, nearly two dozen of the leases are being sold. A&G Real Estate Partners is acting as the real estate advisor for the pharmacy chain, which filed for bankruptcy on Oct. 15, and has plans to close 154 underperforming stores nationwide. The deadline for the following leases for in Pennsylvania is Monday, Nov. 20: 2722 West 9th St., Chester 5900 University Boulevard, Corapolis 1709 Liberty Ave., Erie 353 East 6th St., Erie 6090 Route 30, Greensburg 301 Eisenhower Dr., Hanover 1130 Cumberland St., Lebanon 1730 Wi…
Atlantic
Real Estate
Rite Aid Is Selling These Seven New Jersey Leases After Filing For Bankruptcy
Of the dozen New Jersey Rite Aid stores closing amid filing for bankruptcy, seven of the leases are being sold. A&G Real Estate Partners is acting as the real estate advisor for the pharmacy chain, which filed for bankruptcy on Oct. 15, and has plans to close 154 underperforming stores nationwide. The following leases are for sale, according to A&G: 2 Vernon Ave., Hamburg 1636 Route 38, Lumberton 210 Bridgeton Pike, Mantua 108 Swedesboro Road, Mullica Hill Route 33/Robbinsville-Edinburg Road, Robbinsville 773 Hamilton St., Somerset 1434 South Black Horse Pike, Williamstown The dea…
Fairfield
Business
'Pharmageddon': CVS, Walgreens Protests Spread As Workers Seek Better Conditions
Around a thousand pharmacy workers across the country have walked off the job as part of a strike to protest conditions. The so-called "Pharmageddon" series of walkouts at pharmacy chains including CVS and Walgreens stores started Monday, Oct. 30, and is expected to continue at least through the middle of the week. Around 900 people from about 10 states could participate, organizers of the ongoing protest told NBC News. A growing workload and understaffing are the main reasons for the protest, organizers say, noting that the pharmacy workers are not unionized. In a statement to KDKA in Pi…
Bucks
Business
Rite Aid To Close 39 Pennsylvania Stores After Filing For Bankruptcy
Rite Aid, the pharmacy giant that filed for bankruptcy on Sunday, Oct. 15, plans to close 154 underperforming stores nationwide, according to a new filing. Thirty-nine of the stores closing are located in Pennsylvania. They are: 1441 Old York Road in Abington 1628 South Fourth Street in Allentown 169 West Lancaster Avenue in Ardmore 5235 Library Road in Bethel Park 2178 West Union Boulevard in Bethlehem 2722 West 9th Street in Chester 200 West Ridge Avenue Suite 112 in Conshohocken 2715 Parade Street in Erie 1709 Liberty Street in Erie 4830 William Penn Highway in Export 6090 …
Worcester
Business
Rite Aid Plans To Shutter Worcester County Store, 150 More, After Filing For Bankruptcy
Rite Aid, the pharmacy giant that filed for bankruptcy on Sunday, Oct. 15, plans to close 154 underperforming stores nationwide, according to a new filing. Some of those closures will be in Massachusetts and Connecticut. Related: Why Is Rite Aid Filing For Bankruptcy? Rite Aid announced earlier this week that declining sales and rising debt forced the company's hand in filing for Chapter 11 bankruptcy. The chain has more than 2,100 stores nationwide, and reducing rent costs will play a large part in bringing its balance sheet back into the black. The only store in Massachusetts…
Nassau
Business
Rite Aid Announces 14 Long Island Stores Slated For Closure After Declaring Bankruptcy
Rite Aid has announced specific store closures just days after the struggling pharmacy chain filed for bankruptcy. Of the 154 closures nationwide announced on Tuesday, Oct. 18, 20 are in New York, 14 of which are on Long Island. Rite Aid currently has 2,100 stores and about 45,000 employees. The Long Island stores slated for closure are: 2 Whitney Ave., Floral Park 3131 Hempstead Turnpike, Levittown 3199 Long Beach Road, Oceanside 198 West Merrick Road, Valley Stream 836 Sunrise Highway, Bay Shore 2784 Sunrise Highway, Bellmore 901 Merrick Road, Copiague 577 Larkfield Road, East Nor…
Ridgefield
Business
Rite Aid Files For Bankruptcy Amid Drop In Sales, Opioid Lawsuits
One of the country’s largest pharmacy chains has just filed for bankruptcy. The move by Rite Aid comes amid declining sales and a rise in debt, which hit $3.3 billion, according to midyear filings. The company said in an announcement on Sunday, Oct. 15 that in connection with the filing, it has received a commitment for $3.45 billion in new financing from some of its lenders. "This financing is expected to provide sufficient liquidity to support the company throughout this process," Rite Aid said. Rite Aid is one of a number of drugstore chains facing litigation related to the…
Arlington
News
'Hot As Hell': AC Outage Has Arlington Moviegoers Sweltering Through 'Barbenheimer'
The movie theater was a hot place to be this weekend with the blockbuster releases of "Barbie" and "Oppenheimer" — literally. The air conditioning at Regal Ballston Quarter is out, making for a sweltering experience. "Warning: As of Thursday aka the release of Barbenheimer madness, the air conditioning was nonfunctional at the Ballston theater," one Yelper said. "We checked out the theater, and it felt like 85 degrees in there. We waited 15 minutes in line at concessions for a manager to process our refund. When I told a friend about our experience, she said she went there for a movie a mo…
Prince William
Business
PWC Christmas Tree Shops Store Among 10 National Store Closures
Christmas Tree Shops has announced it will close 10 of its stores after filing for bankruptcy. The 53-year-old discount home-goods chain offers seasonal decor year-round, along with assorted gifts, kitchen items, and furniture. The 10 stores closures are: Rockland County, New York: 32 Spring Valley Marketplace, Spring Valley; Jefferson County, New York: 21182 Salmon Run Mall Loop West, Watertown; Cape Cod, Massachusetts: Davis Straits, Route 28 Falmouth Plaza, Falmouth, Massachusetts; Barnstable County, Massachusetts: Cranberry Highway Route 6A, Sagamore; Lancaster County, Pennsylvania:…
Paramus
Business
David's Bridal Laying Off 9,200 Employees Amid Bankruptcy Filing
David's Bridal will send more than 9,000 workers home in an upcoming round of layoffs, according to a disclosure form it filed with the Pennsylvania Department of Labor and Industry. The Montgomery County, PA-wedding retailer expects to lay off 9,236 employees nationwide in a three-phase plan that began on Friday, April 14, according to the state website. It's not clear how many of those workers are in Pennsylvania, though the layoffs are expected to affect locations in Blair, Dauphin, Delaware, Erie, Luzerne, and York counties, as well as four shops in Allegheny County, two sho…
Montgomery PA
Business
PA's David's Bridal Laying Off 9,200 Employees Amid Bankruptcy Filing
Montgomery County's own David's Bridal will send more than 9,000 workers home in an upcoming round of layoffs, according to a disclosure form it filed with the state Department of Labor and Industry. The Conshohocken-based wedding retailer expects to lay off 9,236 employees nationwide in a three-phase plan that began on Friday, April 14, according to the state website. It's not clear how many of those workers are in Pennsylvania, though the layoffs are expected to affect locations in Blair, Dauphin, Delaware, Erie, Luzerne, and York counties, as well as four shops in Allegheny C…
Mahwah-Ramsey
News
Feds Charge Exiled Chinese Tycoon With $1B Fraud That Funded $26.5M Mahwah Mansion, More
Exiled Chinese tycoon Miles Guo was arrested by the FBI Wednesday on charges of swindling his online followers out of more than $1 billion that the government said he used, in part, to buy a 58-room mansion in Mahwah. Some of the agents were still at Guo’s 15-room penthouse in the Sherry-Netherland Hotel on Manhattan’s Upper East Side the afternoon of March 15, six hours after he’d been arrested there, when a mysterious fire broke out on the 18th floor, responders said. No injuries were reported, but authorities said the blaze significantly damaged Guo’s unit. No one drew any immediate conn…
Suffolk MA
Business
Pet Store With 18 Mass Locations Files Bankruptcy, Closes
A pet store with locations across Massachusetts is filing for bankruptcy less than five years after announcing its opening. Loyal Companion, a pet shop with a focus on natural wellness, announced on Monday, Feb. 6 that all stores with the name would close within the month, according to their website. While individual stores may close on different dates, all will close by Tuesday, Feb. 28. "With a heavy heart, we want to inform you that we've made the tough decision to close our Loyal Companion stores," the statement read. "We will be offering liquidation discoun…
Dauphin
Business
Bed Bath & Beyond Closures Include Four Pennsylvania Locations
Four Bed Bath & Beyond stores across Pennsylvania are among 87 locations scheduled to close in 2023, the struggling retailer announced. That brings the total number of Bed Bath & Beyond locations scheduled to close to at least 162 announced since September 2022. A spokesperson told Axios that the latest round of closures will include all of the company's Harmon beauty shops, as well as five Buy Buy Baby locations. The following locations in Pennsylvania are set to close in 2023: Bethel Park, 1700 Oxford Drive North Wales, 1261 Knapp Road Pittsburgh, 160 Quinn Drive Mon…
Baltimore
Business
Bed Bath & Beyond Closures Include Nine MD, VA Locations
Nine Bed Bath & Beyond stores across Maryland and Virginia are among 87 locations scheduled to close in 2023, the struggling retailer announced. That brings the total number of Bed Bath & Beyond locations scheduled to close to at least 162 announced since September 2022. A spokesperson told Axios that the latest round of closures will include all of the company's Harmon beauty shops, as well as five Buy Buy Baby locations. The following locations in Maryland and Virginia are set to close in 2023: Annapolis, 200 Harker Place Suite 200 Fairfax, 12100 Fairfax Towne Center&…
Hackensack
Business
Bed Bath & Beyond Closures Include 36 NJ Locations
Three dozen Bed Bath & Beyond stores in New Jersey are among 87 locations scheduled to close in 2023, the struggling retailer announced. That brings the total number of Bed Bath & Beyond locations scheduled to close to at least 162 announced since September 2022. A spokesperson told Axios that the latest round of closures will include all of the company's Harmon beauty shops, as well as five Buy Buy Baby locations. The following locations in New Jersey are set to close in 2023: Bridgewater, 155 Promenade Blvd. Mays Landing,190 Hamilton Commons Mays Landing Mount Laurel, 8 Centert…
Frederick
Business
Here's When The Final Full-Service Maryland Sears Will Be Closing At Francis Scott Key Mall
One of the final full-service Sears locations in the country that still stands in Maryland is not long for this world and will soon be shut down, according to reports. Sears at the Francis Scott Key Mall in Frederick, one of the few active brick-and-motor locations still standing from the once-great department store giant, will reportedly be closing by mid-January as shoppers continue to strip what's left from the bare shelves. The closure date of Sunday, Jan. 15 was first announced by the Frederick News-Post, which reported that the store is sporting massive neon-colored signs stating: "Ev…
North Orange
News
Central Valley Father-Son Owners Of Orange County Car Dealership Sentenced For Fraud
A father and son who own a Hudson Valley car dealership are heading to federal prison for their role in a multimillion-dollar tax and bank fraud scheme. Orange County residents Mehdi and Saaed Moslem, owners of the Exclusive Motor Sports dealership in Central Valley, were sentenced to eight years and three years in prison, respectively, in federal court in White Plains Monday, Oct. 17. Earlier Report: Father/Son Owners Of Area Auto Dealership Charged With Tax, Bank Fraud The pair was previously found guilty of defrauding their lenders and the Internal Revenue Service (IRS) following …
Bucks
Business
Regal Cinemas Quietly Closes Richland Crossing Theater
Regal Cinemas has closed a Bucks County location. The Regal Richland Crossing movie theater off Route 309 in Quakertown shuttered on Thursday, Sept. 15, the company announced on its website. Regal's parent company Cineworld Group LLC filed for Chapter 11 bankruptcy earlier this month. "The pandemic was an incredibly difficult time for our business, with the enforced closure of cinemas and huge disruption to film schedules that has led us to this point,” Cineworld CEO Mooky Greidinger said. The following 18 Regal locations remain open in Pennsylvania: Conshohocken, Regal Plymouth M…
Dauphin
News
Harrisburg Diocese Agrees To Create $7.5 Million Trust For Sex Abuse Survivors
A settlement has been reached and the Diocese of Harrisburg has agreed to set up a trust for the survivors of sexual abuse at the hands of its clergy. The agreed $7.5 million trust would allow the Diocese to come out of bankruptcy protection— the dioceses had filed for bankruptcy in 2020, and more than 50 people have filed claims that they were abused by priests since that time. "The steps we take today continue our commitment and responsibility to support survivors of clergy abuse, and to make restitution for the suffering they have endured," Bishop Ronald Gainer said in a news…
Rye
Business
Ny-b
ased Revlon, Iconic 90-Year-Old Multinational Personal Care Company, Files For Bankruptcy
New York-based personal care and cosmetics company Revlon announced it has filed for bankruptcy on Thursday, June 16. The company is hoping to get $575 million in debtor-in-possession (“DIP”) "to strategically reorganize its legacy capital structure and improve its long-term outlook," according to a release. Revlon says they plan on operating "seamlessly" after the filing “Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth,” said Debra Perelman, Revlon's President an…
Hartford
Business
JCPenney Offers Billions To Buy Rival Kohl's, Report Says
The owners of JCPenney are bidding to acquire rival Kohl’s, according to a new report. Shopping-mall owners Simon Property and Brookfield Asset Management have offered around $8.6 billion for Kohl's stores, the New York Post reports. Under the plan, JCPenney's parent company would maintain two separate brands and cut costs by $1 billion at Kohl’s over the next several years, the Post said, citing a source. After filing for bankruptcy in the spring of 2020, JCPenney was acquired by Simon Property Group and Brookfield Asset Management. With about 1,160 locations in every state except Hawaii…
Bedford
News
Purdue Pharma Reaches $6B Settlement With US States Over Thousands Of Opioid-Related Lawsuits
OxyContin creators Purdue Pharma and the Sackler family have reached a $6 billion settlement over their roles in the ongoing opioid crisis plaguing the country. The announcement comes following an earlier deal made with Purdue, headquartered in Stamford, Connecticut, that was ultimately appealed by eight states and the District of Columbia until the Sacklers kicked in more cash to get the deal done. Earlier story - NY, Other States Reach $4.5B Settlement With Purdue Pharma Over Its Role In Opioid Epidemic The $6 billion will be paid out over the course of 18 years, with larger payments fro…
Hackensack
News
Authorities: Long Island Couple In $1 Million Securities Scam Targeted Elderly NJ Investors
Several New Jersey seniors were scammed out of more than $1 million combined by a Long Island couple, Garden State authorities have charged. Salvatore Magaraci, 63, and A. Kirsten Gallardo, 60, of Huntington, NY specifically targeted elderly victims to pitch unregistered securities to for a crooked – and now defunct -- company, Acting New Jersey Attorney General Andrew J. Bruck said. The Woodbridge Group of Companies purported to be a commercial lender that made hard-money loans secured by mortgages on commercial property. It ended up being ordered to pay $1 billion -- and saw its foun…
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