September 2008 Archives

Sonny's restaurants

| | Comments (0) | TrackBacks (0)

Regional barbecue restaurant chain Sonny's Real Pit Bar-B-Q filed for bankruptcy Thursday. The 10-store chain immediately closed four outlets, but plans to continue operations during the restructuring.

Update: Boscov's

| | Comments (0) | TrackBacks (0)

Boscov's, the mid-Atlantic retailer that filed for bankruptcy over the summer, is selling its assets to Versa Capital Management, a private equity firm. A final hearing is scheduled for October 1.

Versa intends to close 10 of Boscov's 49 stores and continue operations at the others.

Steve and Barry's

| | Comments (0) | TrackBacks (0)

Upstart discount-clothing retailer Steve and Barry's filed for bankruptcy in July, citing widespread credit woes.

On August 21 two investment firms purchased the company at auction, two weeks after Steve and Barry's found a different private equity buyer.

Last week, the company's new owners announced the closing of 103 stores, leaving 173 still operational. The closings began yesterday.

Marty's Shoes

| | Comments (0) | TrackBacks (0)

Regional shoe retailer Marty's Shoes is closing all its stores in a bankruptcy filing. It plans a liquidation of assets. Marty's operated 60 stores across four states and had been in business for more than 30 years.

Interestingly, Marty's web site is promising it will be "back in November."

Merrill Lynch

| | Comments (0) | TrackBacks (0)

This is so obvious as to be trite, but it's relevant: Merrill Lynch has been sold to Bank of America as a result of the financial industry crisis. Bank of America acquired Merrill not in a traditional M&A pursuit but as a cut-rate sale of a distressed entity. Merrill Lynch operates America's largest retail brokerage

Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. By David Wertheimer. Did I miss something? Drop me a line.

About this Archive

This page is an archive of entries from September 2008 listed from newest to oldest.

August 2008 is the previous archive.

October 2008 is the next archive.

Find recent content on the main index or look in the archives to find all content.