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Tag: bankruptcy


Topshop Is Putting Everything on Sale Weeks Before Closing

This could be your last chance to shop their fashion finds.
In case you missed it, global fashion retailer Topshop is closing down all their stores in the Philippines following its mother company, the Arcadia Group, collapsing into administration in November 2020. The closure also includes Arcadia-owned brands Topman, Dorothy Perkins, and Burton.

Topshop, Topman Are Closing Down All Their Stores in the Philippines Soon

The closure also includes Dorothy Perkins and Burton.
In November 2020, it was announced that British multinational company Arcadia Group, the parent company behind Topshop and other globally recognized retail brands, has collapsed into administration and the company was declared insolvent.Today, February 15, a representative from Topshop's franchise holder in the Philippines confirmed that

Muji USA Is Reportedly Filing for Bankruptcy

Oh no!
This just in: Japan-based retail giant Muji’s USA chapter is filing for bankruptcy. This adds them to the growing list of businesses that had to take the same action after suffering severe losses due to the COVID-19 pandemic.That said, fans of the

Luxury Department Chain Neiman Marcus Files for Bankruptcy

American retail stores continue to collapse amid the COVID-19 pandemic.
Fresh off the heels of J.Crew declaring bankruptcy, yet another American retail store is begrudgingly following suit. Luxury department chain Neiman Marcus filed for the same this Thursday in a report by the New York Times.However, the company assured patrons that they

Here's What Will Happen to Forever 21 Philippines Amidst Bankruptcy News

The brand's local arm has released an official statement.
Reports of Forever 21 officially filing for bankruptcy and closing up to 178 stores have raised concerns over the fashion retailer's operations in the Philippines. Luckily, the brand's local arm has finally addressed the issue in an official statement on their Facebook page.Quoting

Forever 21 Has Officially Filed For Bankruptcy

Oh no!
Following Topshop US and Barneys New York, the latest retailer to file for bankruptcy is Forever 21. CNN Philippines writes that the fashion retailer will be closing "up to 178 of its more than 800 stores," following their filing of  Chapter 11 bankruptcy. Bloomberg previously reported that

Shoe Brand Nine West Is Filing for Bankruptcy

They're planning to sell.
Another one bites the dust. American footwear brand Nine West Holdings Inc. is planning to file for bankruptcy this week, and they intend to sell the intellectual property of its flagship label to Authentic Brands Group LLC, Business of Fashion reports.It's apparently

Payless Shoesource Files for Bankruptcy

Another retail brand is shutting down its doors.
Another household retail name is shutting down. Payless Shoesource has reportedly filed for Chapter 11 bankruptcy. IMAGE payless.phIn a fast-paced retail business, Payless, a store that is native to malls, is struggling to adapt against e-commerce giants, like Amazon, who seem to be even