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The lender group was already set to take over most of J.C. Penney’s real estate at the outset of the bankruptcy case, with a plan that would have involved spinning the properties into a real estate investment trust and selling the rest of the retailer to the highest bidder.September 10
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Losing Tiffany would be a rare setback for Bernard Renault, who built his empire through a string of acquisitions, amassing a conglomerate encompassing everything from Dior fashions to Dom Perignon Champagne.September 9
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Hackers are preying on isolated work forces during a time when IT resources are stretched and many staff are furloughed.September 9
Head of cyber M&AAon plc
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Retailers have struggled during the coronavirus pandemic, as consumers lose jobs and the will to shop and dress up, with Brooks Brothers, J.C. Penney, J. Crew and Neiman Marcus declaring bankruptcy in 2020August 28
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Salter, who founded and runs Authentic Brands Group, has bought beaten up names like Forever 21, Lucky Brand Dungarees and Barneys New YorkAugust 14
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Spinning off its digital bank will allow Pennsylvania-based Customers to beef up its commercial lending and buy other banks. BankMobile, meanwhile, plans to pursue more white-label relationships and perhaps explore its own acquisitions.August 6
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Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.August 5
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Pizza Hut franchisee’s NPC International Inc., the holding company of Chuck E. Cheese CEC Entertainment Inc. and the U.S. arm of Le Pain Quotidien have sought bankruptcy protection since the pandemic started.July 30
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Sparc Group, which is backed by Barneys New York owner Authentic and mall landlord Simon, agreed to a $305 million bid in a court-supervised auction for Brooks Brothers’ global business operations.July 24
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Retailers, many already struggling with competition from online shopping, have been among the hardest hit by Covid-19. Lockdowns drained revenue, helping to tip companies including J.C. Penney Co., J. Crew Group Inc. and Neiman Marcus Group Inc. into bankruptcy.July 23
