Legal

Things Remembered, a retailer of engraved gifts and keepsakes, is preparing to file for bankruptcy protection and will shutter most of its roughly 400 stores, people familiar with the matter said last week. The preparations show how a debt restructuring that Things Remembered underwent in 2016 wasn't enough to spare it from the wave of bankruptcies…

Shopko, the general merchandise retailer with stores located throughout the Central, Western and Pacific Northwest regions of the U.S., announced that it, along with its subsidiaries, has filed for Chapter 11 bankruptcy protection. In its filing, Shopko cited excess debt and ongoing competitive pressures as the reason for the measure. Shopko reported assets of less than $1…

Gymboree is shopping for a bankruptcy loan as it prepares for a second chapter 11 filing in less than two years. The bankruptcy filing, which could come as early January, would allow the struggling children’s apparel retailer to close most of its stores, the people said. However, the company is seeking a bankruptcy loan that…

A U.S. Bankruptcy Court judge on Friday approved Sears Holding Company's request to pay up to $25.3 million in bonuses to top executives, even as the company reported losing nearly $1.9 billion in the first three quarters this year, according to the Chicago Tribune. Sears, which filed for bankruptcy protection in October, said the funds will…

Amazon.com reportedly fired workers in the U.S. and India for allegedly giving internal data to independent sellers linked to scams. Following an investigation into suspected bribes, the e-commerce giant took action against disreputable sellers by limiting access to data and deleting thousands of suspicious reviews, The Wall Street Journal reported Monday. Part of the probe is centered…

In this episode of Retail Right Now, Total Retail's Caitlin Sullivan and Joe Keenan discuss the bid from Sears Chairman and former CEO Eddie Lampert's company ESL Investments to purchase 500 of the retail chain's stores for $4.6 billion. This offer comes as a last-ditch effort to save the brand from potential liquidation, but may not…

The fund run by Sears Chairman Eddie Lampert, ESL Investments, submitted a $4.6 billion proposal on Thursday to help save the bankrupt retailer with the purchase of 500 stores. Sears Holdings, which owns Sears department stores and Kmart, filed for bankruptcy on Oct. 15. In previous court filings, it has said it was in talks with…

Dozens of current and former Sears Holdings Corp. employees sent a letter to Chairman Edward Lampert and other creditors on Thursday, asking them to pay severance and save as many jobs as possible as the retailer goes through bankruptcy, The Wall Street Journal reported. "While we understand Sears and Kmart must make changes to survive, we…

E-commerce technology has made global selling easy, leading many small and midsized e-commerce companies to focus on expanding their cross-border sales to consumers. Unfortunately, most of these companies don’t understand how the realities of cross-border duty and tax compliance could result in shipment delays and canceled orders. This has created an opportunity for e-commerce platforms…

Sears is seeking court approval to pay executives as much as $25 million in annual bonuses while the company struggles to restructure in bankruptcy. Three top executives could get nearly $1 million each if the company goes out of business. If Sears remains in business, they could get nearly $500,000 each for hitting the top performance…