Hartford, CT
News
Guitar Center Files For Bankruptcy Guitar Center Files For Bankruptcy
Guitar Center Files For Bankruptcy Guitar Center, a mecca for new and used, affordable musical instruments, has filed for bankruptcy. On Saturday, Nov. 21, the retail chain - and the largest seller of musical equipment in the U.S., said it was filing for Chapter 11 bankruptcy, according to MarketWatch. Guitar Center plans to keep its U.S. 300 stores open during the bankruptcy process. The filing is expected to help Guitar Center reduce its debt by $800 million. As is the case with many recent bankruptcy filings, Guitar Center said economic restrictions brought on by the global COVID-19 pandemic have negatively affected bus…

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by Kristin Palpini
Brentwood, NY
News
Diocese On Long Island Declares Bankruptcy After Sex Abuse Lawsuits Diocese On Long Island Declares Bankruptcy After Sex Abuse Lawsuits
Diocese On Long Island Declares Bankruptcy After Sex Abuse Lawsuits A Roman Catholic diocese on Long Island was forced to declare bankruptcy as it faces hundreds of lawsuits alleging sexual abuse by clergy members. The Diocese of Rockville Centre - one of the largest in the nation - filed for Chapter 11 bankruptcy protection on Thursday, Oct. 1 after more than 200 lawsuits were filed against them. “The financial burden of the litigation has been severe and only compounded by the COVID-19 pandemic,” Bishop John Barres, a leader at the diocese that serves 1.4 million Catholics on Long Island, said in a video posted online. “Our goal is to make su…

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by Zak Failla
Rutherford, NJ
News
Dave & Busters To Lay Off 107 NJ Workers Dave & Busters To Lay Off 107 NJ Workers
Dave & Busters To Lay Off 107 NJ Workers Dave & Busters is the latest company to crumble amid the COVID-19 pandemic. The food and games chain filed a WARN notice saying it will be laying off 107 New Jersey employees. Dave & Busters -- with New Jersey locations in Wayne and Woodbridge -- could file for Chapter 11 bankruptcy if a deal with lenders isn't reached, the Wall Street Journal reports. The WARN notice indicates that the 107 employees being laid off are at the Wayne location --  the Willowbrook Mall. It's unclear if any of the workers in the Woodbridge center will be impacted. Dave & Busters reached a deal…

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by Cecilia Levine
Paramus, NJ
Business
Century 21 Files For Bankruptcy, Closing All 13 Stores Century 21 Files For Bankruptcy, Closing All 13 Stores
Century 21 Files For Bankruptcy, Closing All 13 Stores Liquidation sales are under way at all Century 21 stores after the company announced Thursday it filed for Chapter 11 bankruptcy protection. The impetus was a non-payment of approximately $175 million declined by the company's insurance provider as a direct result of losses during the COVID-19 pandemic, the off-price retail company said in a press release. In business for more than 60 years, Century 21 was left with "no viable alternative" to closing all 13 stores the company's co-CEO Raymond Gindi said.  Century 21 has four New Jersey locations: East Rutherford, American Dream…

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by Cecilia Levine
Parsippany-Troy Hills, NJ
Business
Lord & Taylor Closing All U.S. Stores Including 9 In NJ Lord & Taylor Closing All U.S. Stores Including 9 In NJ
Lord & Taylor Closing All U.S. Stores Including 9 In NJ Lord & Taylor is going out of business. The company initially said it would be closing 19 stores after filing for Chapter 11 bankruptcy earlier this month. On Thursday, Lord & Taylor said it will instead be closing all of its stores, including the nine in New Jersey, after 194 years in business. "While we are still entertaining various opportunities, we believe it is prudent to simultaneously put the remainder of the stores into liquidation to maximize value of inventory for the estate while pursuing options for the company's brands," said Ed Kremer, Lord & Taylor's chief restr…

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by Cecilia Levine
Parsippany-Troy Hills, NJ
Business
Lord & Taylor Shutters 3 NJ Stores, 24 Across U.S. Lord & Taylor Shutters 3 NJ Stores, 24 Across U.S.
Lord & Taylor Shutters 3 NJ Stores, 24 Across U.S. Lord & Taylor will shutter two dozen locations nationwide including three in New Jersey. After filing for Chapter 11 bankruptcy, the nation’s oldest department store announced it will also be closing seven stores in New York, three in Connecticut, two in Massachusetts, two in Illinois and two in Maryland, CNBC reports. One store each in Florida, Michigan, New Hampshire, Virginia and Pennsylvania will also close. The New Jersey stores set to shutter are: Livingston, 111 Eisenhower Pkwy. Rockaway, 317 Mt. Hope Ave. Wayne, Willowbrook Mall These two dozen stores are just a few of t…

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by Valerie Musson
Hackensack, NJ
News
Sears To Shutter Hackensack Store Leaving Only 1 NJ Location Standing Sears To Shutter Hackensack Store Leaving Only 1 NJ Location Standing
Sears To Shutter Hackensack Store Leaving Only 1 NJ Location Standing The Sears in Hackensack is one of many that will soon close permanently -- leaving only one last Sears store standing in New Jersey. The chain had added two temporary closing jobs at the Hackensack store to its online database as of June 30 -- two days after the Rockaway Townsquare Mall listed its own closing positions. Available positions include backroom and cashier. Sears has been closing stores across the country since 2018, when the company -- which also owns Kmart -- filed for Chapter 11 bankruptcy protection. The Sears within the Newport Center Mall in Jersey City is the last store…

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by Valerie Musson
Parsippany-Troy Hills, NJ
News
Sears To Shutter Rockaway Townsquare Mall Location, Closing Jobs Available Sears To Shutter Rockaway Townsquare Mall Location, Closing Jobs Available
Sears To Shutter Rockaway Townsquare Mall Location, Closing Jobs Available The Sears at Rockaway Town Square Mall is just one of many that will soon close permanently in yet another Coronavirus-related blow to the brick-and-mortar retail landscape. The Sears in Hackensack will also shutter, according to closing jobs listed June 30. The retail chain had added four closing jobs at the Rockaway store to its online database as of June 29. Available positions include home appliance sales, cashiers, hardware sales and backroom. Calls placed to the store were not answered. Sears has been closing stores across the country since 2018, when the company -- which also …

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by Valerie Musson
Torrington, CT
Business
COVID-19: GNC Files For Bankruptcy, Will Close About 1,200 Stores COVID-19: GNC Files For Bankruptcy, Will Close About 1,200 Stores
Covid-19: GNC Files For Bankruptcy, Will Close About 1,200 Stores General Nutrition Centers (GNC) plans to close upwards of 1,200 stores after filing for bankruptcy amid the novel coronavirus (COVID-19) crisis. The 85-year-old company, which reportedly has been dealing with nearly a billion dollars of debt announced it will be shuttering at least a quarter of its locations as it faces a shortage of customers due to the COVID-19 outbreak. According to GNC, the company “has been executing a store portfolio optimization strategy to close underperforming stores, while continuing to invest in omnichannel and brand strategies to better meet consumer demand." G…

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by Zak Failla
Hackensack, NJ
News
LIST: Bankrupt GNC Closing 248 Stores, Including 20 In NJ, NY LIST: Bankrupt GNC Closing 248 Stores, Including 20 In NJ, NY
List: Bankrupt GNC Closing 248 Stores, Including 20 In NJ, NY GNC on Wednesday released a list of stores that the company is closing in New Jersey and New York as part of its filing for Chapter 11 bankruptcy protection. The retailer, which had 5,200 stores in the U.S. and 7,300 worldwide at the end of March, said it expects to close anywhere from 800 to 1,200 of them, beginning with those listed below. GNC already was submerged in an estimated $700 million in debt and facing delisting on the New York Stock Exchange when COVID-19 struck. The coronavirus pandemic “created a situation where we were unable to accomplish our refinancing and the abrupt cha…

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by Jerry DeMarco
Ridgefield Park-Hasbrouck Heights, NJ
News
24 Hour Fitness Closing 7 New Jersey Gyms 24 Hour Fitness Closing 7 New Jersey Gyms
24 Hour Fitness Closing 7 New Jersey Gyms 24 Hour Fitness will be closing seven gyms across North Jersey amid the coronavirus pandemic. The company in a statement Monday said it filed for voluntary Chapter 11 bankruptcy and will be closing 130 locations across the U.S. Among them are ones in Jersey City, Hasbrouck Heights, Piscataway, Saddle Brook, Wayne, Whippany and Woodbrige. "Removing these financial and operational constraints allows us to focus entirely on transforming our business and the club experience for the better," the chain said.  "We will have the financial flexibility and resources to upgrade equipment and ex…

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by Cecilia Levine
Paramus, NJ
Business
Fairway Market In Paramus To Close Fairway Market In Paramus To Close
Fairway Market In Paramus To Close Paramus' popular Fairway Market will be closing May 15. The market, purchased by Amazon in early March, has remained open in an effort to preserve jobs and serve the community. The closure of the E. Ridgewood Avenue store will allow the reallocation of resources while maintaining operations at seven other locations across the tri-state area, including Woodland Park. Fairway Market filed for Chapter 11 bankruptcy in January 2020 and announced five of the New York locations and its distribution center were sold for $70 million. the remaining stores were under negotiation. "Fairway Market is…

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by Cecilia Levine