Hit hard by the pandemic, AllSaints is getting a new cash injection as it faces tens of millions of dollars in unpaid rent.
The company faces a key deadline next month that could decide its future.
Parent company L Brands files for credit protection in the U.K., a move that will impact the lingerie business’ 25 U.K. stores.
The New York soap and body-care company said its business has been “devastated” by the economic shutdown caused by the pandemic.
The retailer told a bankruptcy court that it plans to fully reopen by early August, and is negotiating rent relief from landlords.
The real estate investment trust hopes to have all of its properties open by mid-June. Meanwhile, only about 26 percent of tenants paid April rent.
For Neiman Marcus Group to come out of bankruptcy and survive, industry executives say it must pare down and modernize.
Kontoor Brands charts go-forward strategy as the effects of the coronavirus play out around the world.
With its Chapter 11 filing Monday, the retailer is set to get new owners and a slimmer profile.