Business

J.C. Penney files for bankruptcy

WHITE MARSH, MD—J.C. Penney filed for bankruptcy on Friday, as was predicted earlier this week. In a news release, the company announced that it had has entered into a restructuring support agreement (RSA) with lenders holding approximately 70% of J.C. Penney’s first lien debt to reduce the company’s outstanding indebtedness and strengthen its financial position. The RSA contemplates agreed-upon terms …


Business, Health

REPORT: J.C. Penney planning to file for bankruptcy

UPDATE: J.C. Penney has filed for bankruptcyJ.C. Penney has filed for bankruptcy… Original story below… ——— NOTTINGHAM, MD—A major U.S. retailer may be ready to fold in the wake of the COVID-19 pandemic. Reuters reports that J.C. Penney is preparing to file for bankruptcy protection as soon as this week with plans to permanently close about a quarter of its …


Modell’s Sporting Goods files for bankruptcy, to close all stores

PARKVILLE, MD—Modell’s Sporting Goods, America’s oldest family owned and operated retailer of sporting goods, athletic footwear, active apparel and fan gear, this week announced that the company has voluntarily filed for bankruptcy. The company’s lenders and long-standing partners will provide the Company with the financial flexibility to operate the business in the near term, including the timely payment of employee …

Pier 1 begins Chapter 11 bankruptcy proceedings ahead of store closings

NOTTINGHAM, MD—Pier 1 Imports announced on Monday that it had begun filing for bankruptcy and was seeking to sell the company. The home furnishings chain plans to close 450 stores across the U.S., including nine in Maryland. To date, the company has closed or initiated going-out-business sales at over 400 locations. The company is also in the process of closing …

Motherhood Maternity on The Avenue to close

WHITE MARSH, MD—Destination Maternity Corporation, the parent company of Motherhood Maternity, has filed for Chapter 11 bankruptcy. The chain will close more than 180 of its stores as part of its restructuring effort, including the Motherhood Maternity store located on The Avenue at White Marsh. The company says it made the decision due to declining sales brought on by online …

Mountain Branch Golf Club owners file for bankruptcy

The owners of a local golf club and restaurant have filed for bankruptcy. Jazpal LLC, listed as the owner of Mountain Branch Golf Club on Mountain Road in Joppa, filed for Chapter 11 on September 4, according to court documents. Chapter 11 gives a company protection while it attempts to restructure its debts. The golf club and restaurant remain open. …

Sports Authority going-out-of-business sale set to begin this week

The end is near for Sports Authority. As part of the chain’s plan to close all of its stores, including the location at White Marsh Mall, the retailer’s going-out-of-business sales are set to begin this week, according to court documents. The Sports Authority, which has 463 stores nationwide, filed for bankruptcy protection less than three months ago. The chain’s final …