Retailers are going bankrupt and liquidating as record-low housing turnover leaves fewer customers looking to furnish homes.
Category: Bankruptcies
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America’s Furniture Stores Struggle to Survive a Frozen Housing Market
The New York Times – Business: -
Vertical Farms Tried to Compete With Open Field Farming. It Isn’t Going Well.
The New York Times – Business:The industry was a darling of the venture capital world 10 years ago. With many farms out of business, the remaining companies have scaled back.
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After Saks Bankruptcy, Richard Baker Says He Saved Luxury Department Stores
The New York Times – Business:Richard Baker wanted to create a retail empire when he combined Saks Fifth Avenue and Neiman Marcus. About a year later, it filed for bankruptcy.
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Founder of First Brands, Whose Bankruptcy Spooked Wall Street, Is Indicted on Fraud
Patrick James, who was earlier ousted from the beleaguered auto-parts maker, is accused by federal prosecutors of faking invoices and lying about hidden debt for years.
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Saks Fifth Avenue Bankruptcy Revives Debate Over the Future of Department Stores
Saks Fifth Avenue’s bankruptcy filing has revived debates about how these once celebrated shopping emporiums can regain their luster.