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By 1990, the chain had grown to 89 Channel outlets in nine states, [3] [9] but in early 1991, the company filed for Chapter 11 bankruptcy protection, and announced a plan to close 34 of 86 stores, mostly in the Baltimore-Washington and New England markets. [9] It emerged from bankruptcy in March 1992. [6]
The passage of environmental protection laws in the 1970s turned New Jersey Zinc's legacy of environmental pollution into a liability. In 1981, former officials of Gulf and Western's Natural Resources Division led a buyout of New Jersey Zinc and made it a subsidiary of Horsehead Industries, Inc, a reference to the company's logo adopted in 1852.
But the acquisition could not help the struggling company succeed in a poor economy and faced with increased competition from large department stores. [6] On November 2, 2011, SYMS and Filene's Basement collectively filed for Chapter 11 bankruptcy protection, with all stores to close by the end of the year. The combined companies had 46 ...
The company was founded in 1970 as Pennsylvania Fashions Inc. [6] The company operated stores under various brand names. Cary Klein purchased the company from his father in 1989 and later developed the rue21 concept. [7] In February 2002, Pennsylvania Fashions filed for Chapter 11 bankruptcy protection. [8]
Consumers Distributing sought bankruptcy protection in 1996. [4] [1] Ten years following the bankruptcy, former Consumers Distributing employee Marc King relaunched the company as an online retailer. The new Consumers Distributing website operated in the run up to the 2012 holiday season, taking orders for furniture and brand-name electronics.
In April 2019, Sungard AS announced it would file for Chapter 11 bankruptcy protection "as part of a consensual agreement with a majority of its creditors to reduce its nearly $1.3 billion debt by more than two-thirds." [13] [14] On May 3, 2019, Sungard AS successfully completed its financial restructuring and emerged from its "prepackaged ...