Legal

Cabela’s will pay $1 million to the U.S. Securities and Exchange Commission to settle claims that the Sidney, Nebraska, retailer’s chief financial officer, Ralph Castner, misled investors regarding the company’s profitability ratios in 2012. The SEC alleged that Cabela’s failed to eliminate from its financial statements an intercompany “fee” that World’s Foremost Bank, the retailer’s wholly…

Sports Authority won't come out of bankruptcy as an independent company and instead wants to sell off all its holdings. "It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," company attorney Robert Klyman told Judge Mary Walrath at a hearing Tuesday in U.S. Bankruptcy Court in…

RadioShack has hired another chief executive to lead the slimmed-down retailer as it tries to forge a new path after bankruptcy. Dene Rogers, who previously served as CEO at Target Australia and at Sears Canada, will join the company as president and CEO on May 9, the company said today. Rogers replaces Ron Garriques, who left in January…

Aeropostale Inc., the teen-clothing chain that has suffered years of losses, is preparing to file for bankruptcy as soon as this month, according to people familiar with the matter. The company is looking to reorganize under Chapter 11, said the people, who declined to be identified because the matter isn’t public. Aeropostale is trying to work…

The U.S. lawsuit to block Staples Inc. from buying Office Depot Inc. now rests with a judge who's undercut the government's case throughout the trial. During final arguments Tuesday by the companies and the Federal Trade Commission, District Judge Emmet Sullivan needled the government about why its economic expert completed his analysis about the scope of…

Sport Chalet's parent company, Vestis Retail Group, said Monday that it has filed for Chapter 11 bankruptcy protection. The news comes two days after Sport Chalet initiated store-closing sales at its 47 locations and stopped all online sales operations. Connecticut-based Vestis also owns outdoor clothing and gear chain Eastern Mountain Sports and East Coast family apparel and shoe…

Vestis Retail Group, which operates the Eastern Mountain Sports, Bob’s Stores and Sport Chalet chains, is preparing a bankruptcy filing, extending a run of retail-industry defaults, according to a person familiar with the matter. The company, owned by private equity firm Versa Capital Management LLC, could file as soon as next week, said the person, who…

Struggling surfwear chain Pacific Sunwear of California Inc is preparing to file for bankruptcy, Bloomberg reported late on Monday, citing people with knowledge of the situation. The company's shares fell as much as 70.4 percent to 10 cents in heavy trading on Tuesday. Pacific Sunwear, which has posted annual losses since 2008, did not immediately respond to…

The U.S. Supreme Court on Monday rejected Wal-Mart's bid to throw out a more than $150 million class-action judgment over the retailers' treatment of workers in Pennsylvania. The case had been on hold at the high court while the justices weighed an appeal brought by Tyson Foods in a separate class-action case. On March 22, the…

The drama between Sports Authority Holdings Inc. and consignment suppliers is coming to an end with a settlement that looks to resolve more than 160 lawsuits. Sellers of shoes, gloves and other winter gear sold on consignment sought the return of their goods after Sports Authority filed for bankruptcy last month. The retailer, which is liquidating…