Legal

J.C. Penney filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale. The department store chain, known for selling family apparel, cosmetics and jewelry at 850 locations, said it reached an agreement with existing lenders for $900 million of debtor-in-possession financing to aid operations while it navigates…

Stage Stores filed for Chapter 11 bankruptcy late Sunday, making it the third large retailer to do so in the past week, reports The Washington Post. The company, which operates 738 stores in 42 states under Palais Royal, Gordmans and other nameplates, said it is searching for a buyer and plans to reopen and liquidate…

Neiman Marcus Group on Thursday became the first major department store chain to file for bankruptcy protection during the coronavirus pandemic. It’s a stunning fall that follows the collapse of Barneys New York late last year and comes as bankruptcy rumors persist for chains like Lord & Taylor and J.C. Penney. In a statement, the company said it received $675 million…

J.C. Penney has filed a temporary restraining order against Sephora, asking a judge to stop the makeup seller from leaving the retailer’s stores, reports CNBC. The ailing department store chain is trying to avoid a major blow to its recovery prospects from the coronavirus pandemic while in the process of reopening stores. According to Dallas Morning…

Welcome to this week's Retail Resources, a blog created to offer retailers the most relevant information and resources from the past week to help you lead during this challenging time. If there's anything you would like me to share in a future post, please let me know by dropping me a line at mcampanelli@napco.com. Legislative Updates…

Here are the latest stories to emerge as retailers and brands deal with the impact that the global spread of the coronavirus has had on their businesses. This daily update offers retail executives the chance to stay-up-to-date on all that's happening within the retail industry, particularly as they put into motion their own COVID-19 response…

Small business retailers have been hit particularly hard with the impact of COVID-19. Government-ordered shutdowns have resulted in furloughs and the inability to meet ongoing obligations. With the enactment of the Coronovirus Aid, Relief and Economic Security (CARES) Act, and, in particular, the implementation of the Paycheck Protection Program (PPP) Loans (up to $349 billion…

The retail industry is changing, fast. Over the past decade, we've seen this sector move to a primarily online function and innovate to meet the needs of an ever-shifting assortment of consumers. In fact, 2019 showed great progress for e-commerce to close the gap in total market share of sales compared to brick-and-mortar retail. Furthermore,…

On Sept. 24, 2019, the U.S. Department of Labor (DOL) announced a final rule to revise Fair Labor Standards Act (FLSA) regulations (29 CFR 541 et seq.) to modify the criteria to be classified as exempt from the FLSA (“2019 Rules”). The most notable change in the 2019 Rules is an increase to the minimum…

As the coronavirus (COVID-19) continues to spread globally, governments worldwide are trying to figure out the best way to bolster the slowing economy. To date, most countries across Asia, including China, Japan, South Korea, and more, are implementing value-added tax (VAT) cuts and tax relief on specific industries and products. Beyond Asia, we're also seeing…