Industry News
Investors converting former Louis Shanks space into high-end home center
by Clint Engel - April 29, 2022 HOUSTON — RMP Partners, which recently acquired the Lillian August and Stanley Furniture brands, is about to launch its first large-scale retail venture here. The Houston-based company, along with partners Horizon Group and Lewis & Maese, have purchased the former 206,000-square-foot Louis Shanks showroom and...
RMP Partners makes growth play in branded home furnishings segment
SOURCE by Thomas Russell - April 12, 2022 Houston-based liquidation specialist has purchased the names and IP of Lillian August and Stanley Furniture HOUSTON — RMP Partners, an advisory firm and liquidation specialist based here, is making a play in the home furnishings segment, having purchased the names and intellectual properties of Lillian...
DEBTOR ATTORNEYS LAURA ASK & JACK NICHOLS INTERVIEW
In this session of our Bankruptcy Series, State Bar Past President Steve Huff interviews attorneys Laura Ask and Jack Nichols on their work for the debtor bar, advice for others looking to take on this work – including staffing and software needs, and the value of connecting with others to be successful. ...
Neiman Marcus is likely just the start: Analysts expect 100,000 stores to close by 2025
Published: April 21, 2020 at 7:45 a.m. ET By Tonya Garcia Many retailers have shuttered their stores amid the COVID-19 outbreak. UBS analysts think a lot of stores will remain shuttered for good over the coming years. Analysts forecast 100,000 stores will close by fiscal 2025, with apparel retailers the hardest hit at 24,000 closures. Most...
Yuma Energy files for bankruptcy
Apr. 16, 2020 2:57 AM ET|About: Yuma Energy, Inc. (YUMA)|By: Gaurav Batavia, SA News Editor Yuma Energy (NYSEMKT:YUMA) has filed for Chapter 11 petitions for relief under the United States Bankruptcy Code. During Q1, the company's cash position deteriorated, and its cash flow from operations is no longer sufficient to cover its operating costs....
J.C. Penney considering bankruptcy as coronavirus hurts department stores
Published 8:00 a.m. ET Apr. 15, 2020 Updated 2:52 p.m. ET Apr. 15, 2020 Nathan Bomey USA TODAY J.C. Penney is considering filing for bankruptcy protection as the retailer grapples with the fallout from the coronavirus pandemic and its own long-in-the-making struggles. The Plano, Texas-based company is exploring the possibility along with a range...
Big Banks Pull Financing, Prepare To Seize Assets From Collapsing Oil and Gas Industry
By Justin Mikulka • Monday, April 13, 2020 - 11:47 The finances of the oil and gas industry are so dismal that the major banks that have funded the money-losing fracking boom are now exploring taking the unusual step of taking over the oil companies that cannot afford to pay back the banks' loans. Reuters reported that banks are exploring the...
First Houston-Area Lawsuit Filed Over COVID-19 Business Interruption Losses
By Lorelie S. Masters, Michael S. Levine & Leah B. Nommensen on March 30, 2020 A Houston-area wig store filed the first Texas COVID-19 lawsuit concerning business interruption losses Thursday in a state court in Harris County. The plaintiff, Barbara Lane Snowden DBA Hair Goals Club, filed suit, a copy of which can be found here, against Twin...
Gas Stations Face Bankruptcy As Demand Plummets
April 3rd, 2020 by Jo Borrás In a world where fewer people smoke, commuters get pickier about their snacks, cars need less gas, and apps like GasBuddy make competition especially fierce, gas stations were already facing a scary, uncertain future. Now, with the COVID-19 pandemic keeping many people and cars at home and the looming threat of mass...
List Of Retail Companies On Bankruptcy Watch Is Growing Fast Amid Coronavirus Crisis
Pamela N. Danziger Senior Contributor Retail I study the world's most powerful consumers -- The American Affluent Closed for business! That is the sign on the doors of non-essential retailers in 45 states, with “non-essential” being defined as stores that trade in discretionary (clothing, home furnishings, electronics, beauty) as opposed...