Story of the Week Joann files for bankruptcy protection — again; seeks buyer Joann has filed for Chapter 11 bankruptcy protection for the second time in less than a year. The 82-year-old crafts and fabrics retailer said it filed for voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to […]
Story of the Week J.C. Penney and Sparc Group merge to launch Catalyst Brands J.C. Penney and Sparc Group announced on Wednesday a new joint venture that combines their retail expertise and portfolios into one organization. Dubbed ‘Catalyst Brands’, the organization brings together six banners including J.C. Penney, Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, and […]
Story of the Week Party City to close all stores in bankruptcy Party City filed for Chapter 11 bankruptcy protection on Dec 21st in the Southern District of Texas. The party supplies specialist also announced it would close its entire footprint, which at the time of its bankruptcy filing consisted of nearly 700 stores, according […]
Story of the Week Fed cuts rates by a quarter point, scales back cuts for 2025 The Federal Reserve reduced interest rates by a quarter percentage point on Dec 18th and scaled back the number of cuts it expects to make next year. In a split vote, the central bank voted to reduce its benchmark […]
Story of the Week Albertsons sues Kroger after judge rules against grocery merger Albertsons on Wednesday formally terminated its proposed $25 billion merger with Kroger and filed a lawsuit against its supermarket competitor, saying Kroger violated its contract and did not follow through on commitments to help get the deal approved. It comes a day […]