Legal

Christopher & Banks Files for Bankruptcy, Expects to Close Stores
January 14, 2021 at 6:00 pm

Apparel retailer Christopher & Banks, which caters to women over 40, is the latest clothing chain to file for bankruptcy protection amid the coronavirus pandemic. The Minneapolis-based company announced Thursday it filed for Chapter 11 bankruptcy protection. Christopher & Banks said in a press release it "expects to close a significant portion, if not all, of its brick-and-mortar stores." Hours after the bankruptcy…

Proposition 24: The Impact of California’s New Consumer Privacy Law on Retail Businesses
January 14, 2021 at 4:56 pm

California’s Proposition 24, which expands the state’s consumer privacy law, was passed by voters on Nov. 3, 2020. Starting January 2023, the new law, called the California Consumer Privacy Rights Act (“CCPRA”) will take effect and allow consumers more control over how businesses collect and use their personal information. Today, advancements in technology allow retailers…

Now More Than Ever, Retailers Need Data to Make Informed Retail Real Estate Decisions
January 13, 2021 at 5:23 pm

COVID-19 has all companies scrambling to make sense of what the future will look like for their businesses. For retailers, brick-and-mortar real estate is perhaps the most integral part, leaving many to question the best path forward should the country face an even more prolonged lockdown. Do you shutter certain stores? What's the right balance between…

francesca's Files for Chapter 11 Bankruptcy Protection
December 7, 2020 at 7:06 pm

Women’s boutique chain francesca's filed for Chapter 11 bankruptcy protection last week, with plans to sell the business, including its brick-and-mortar stores. In a statement announcing the bankruptcy filing, francesa's said it was obtaining $25 million in financing from its existing lender, Tiger Finance, to facilitate the retail stores sales process, subject to court approval.…

European Union Files Antitrust Charges Against Amazon
November 11, 2020 at 4:26 pm

This week, European Union regulators brought antitrust charges against Amazon.com, The New York Times reported. The EU claims that the e-commerce giant broke competition laws by wrongfully using its size and access to data against smaller sellers that rely on the company to reach consumers. Specifically, Amazon is accused of collecting nonpublic data from sellers…

Judge Dismissed a Coronavirus Safety Lawsuit Against Amazon
November 4, 2020 at 9:23 pm

On Monday, a New York federal judge dismissed a lawsuit against Amazon.com that accused the company of failing to stop the spread of the coronavirus through unsafe working conditions, CNBC reported. The judge deferred to the Occupational Safety and Health Administration (OSHA). The complaint against the e-commerce giant was filed by four employees at Amazon's Staten Island,…

The Time is Right to Revisit Retail Lease Provisions in Light of COVID-19
October 21, 2020 at 9:38 am

Many retailers were forced to close their doors to customers beginning in March 2020, when the coronavirus pandemic first hit the United States. This caused the stock market to plunge initially, and pushed the overall economy into a record slump. Unsure of how to proceed given the unprecedented situation where municipalities were ordering stores to…

J.C. Penney Purchased by Pair of Mall Operators
September 10, 2020 at 11:14 am

J.C. Penney reached an agreement yesterday to sell its retail business to mall operators Simon Property Group and Brookfield Property Partners, averting a total liquidation. Simon and Brookfield will pay about $300 million in cash and assume $500 million in debt to buy J.C. Penney, lawyers for the retailer said at a Bankruptcy Court hearing. The deal…

Louis Vuitton Owner LVMH is Pulling Out of its Acquisition of Tiffany & Co.
September 9, 2020 at 4:26 pm

Luxury goods giant LVMH is scrapping its $16.2 billion acquisition of Tiffany & Co., CNBC reported. The acquisition would have been the biggest deal ever in the luxury industry. The merger agreement was signed last November and had a closing deadline of no later than Nov. 20, 2020. However, Tiffany requested an extension until Dec. 31,…

RTW Retailwinds' E-Commerce Business, Intellectual Property Sold to Investment Group for $40M
August 31, 2020 at 6:04 pm

The e-commerce business and intellectual property of omnichannel specialty retailer RTW Retailwinds were sold at bankruptcy auction last week to investment firm Saadia Group for $40 million plus assumption of certain liabilities, including honoring gift cards. Assets include websites run by the apparel company, which was previously known as New York & Co. Those sites include www.nyandcompany.com,…