Not all bankruptcies result in outright liquidation. The liquidation business is itself very lucrative, and dealing with clothing can be all the … The new work-from-home reality has rocked the shared-office space market. You can click on the link below to see a list of all companies in liquidation (for members only) or find a specific company that is in liquidation by: Searching by company name (see box above left) Searching by code (see box above right) Crew and oil producer Denbury Resources have already done. A free-for-all broke out. The discount retailer survived early pandemic lockdowns, but was hobbled by a recent surge in cases in California and much of the southern U.S., forcing it to file for bankruptcy on Aug. 12. âThe resurgence of Covid-19 cases in the Southeast, Texas, Arizona and California, where the majority of the companyâs stores are located, again materially, adversely impacted the companyâs revenueâ in July 2020, Chief Executive Officer D. Hunt Hawkins said in court documents. For 45 years, Sugarloaf offered artists across the U.S. a market for their creations, including jewelry, pottery and textiles. Its newly appointed chief restructuring officer later would explain to the court that the entire management team and various engineers had returned hastily to Europe âin order to avoid a dangerous health situation in the U.S. and potential long-term travel restrictions.â. As fears of Covid-19 spread in mid-March, some towns and villages around the state barred passenger flights into their communities. List of shops that have collapsed into administration in 2020 as UK lockdown hits high street. The lack of cash flow forced ABA to dismiss about 900 employees and shut down operations. But the company blamed its insurersâwhich failed to pay out some $175 million under business interruption policiesâfor its demise. Steve Andrews was a general contractor who built eateries for other people before he and his wife, Debbie, ran two of their own in Northern California. Two Keys hopes to either resolve the landlord dispute and reopen in its current building or sell the companyâs assets to somebody willing to reopen the tavern in a nearby location, Dennery said. 2020 has been a hectic year for retail bankruptcies. Photographer: Andrew Harrer/Bloomberg, Bar in Kentucky with $1.0M estimated assets, Two Keys Tavern in 2010. The four-mile, seven-stop train system stopped running on March 18, and the non-profit that runs it laid off almost all staff. The mayor of the borough covering 95,000 square miles across the stateâs far north tried to commandeer Ravn assets to ensure residents had food, medical transport and supplies but was blocked by the state attorney general. She said that employees got abrupt notice in March that they would be permanently laid off. Appointment/Release of Liquidators. The coronavirus pandemic has accelerated the demise of companies that were already in ... filed on July 13 and has begun liquidation sales as it … Dec 1, 2020 4:36AM EST Credit: REUTERS/LEE SMITH British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday. Pier 1 Imports started its going-out-of-business closing sale May 22, ahead of Memorial Day. The mall reopened in May, but customers didnât rush back. Awesome Flight is seeking to jointly administer the cases. ItâSugar had just $500,000 in cash and over $16 million of liabilities by the time it filed for bankruptcy at the end of September. For nearly 60 years, bargain-hunting New Yorkers and tourists flocked to Century 21 Department Stores in search of deep discounts on designer wares from the likes of Marc Jacobs, Versace and Fendi. That stopped when the likes of Harrahâs, Caesars Palace and the rest of the cityâs casinos and bars shut their doors to quell the spread of Covid-19. And then thereâs Goldâs Gym, the fitness chain that furloughed almost 4,600 employees after the lockdowns. But the efforts fell short, and the company is aiming to run going-out-of-business sales while seeking a buyer for its e-commerce operations. The running list of 2020 retail bankruptcies The pandemic has ushered in a wave of bankruptcies as retailers struggle to pay rent, vendors and other expenses. A patchwork of other regional airlines stepped in to take over some Ravn routes and business. Giant gummy bears and candy-scented hand sanitizer couldnât help ItâSugar get through the pandemic. âWhen the coronavirus hit, we had 100% cancellations.â. Photographer: Chris Graythen/Getty Images, Sawmill in Florida with $100.0M estimated assets, A truck loaded with logs pulls into the Klausner lumber mill in Live Oak, Florida, on July 28, 2015. But also oil producers, mall landlords, and a helicopter tour operator. Furla USA had most of its shops reopened by the summer, but eight were forced to close a second time amid a resurgence of the virus. Companies Act. So goes the client roster of T. Anthony, a posh Manhattan luggage-maker forced to shut its Park Avenue store and furlough all but one employee before filing for bankruptcy. The company tried to keep desks filled by offering discounts and other incentives, but it hasnât worked, according to court papers. Original review: Nov. 30, 2020. It had reopened all its stores by June 15. The bankruptcies include plenty of iconic names. Alaska is twice the size of Texas but with few roads and many remote villages that can be reached only by airplane. The Houston Roughnecks were undefeated and had the best record in the inaugural season of the XFL, a new professional football league, when Covid-19 forced every major U.S. sports league to suspend their seasons. For Occasion Brands, a retailer that depends on that one night to drive nearly three-quarters of its revenue, the pandemic couldnât have come at a worse time. :As many as 25,000 stores could shutter in 2020 due to COVID-19 impact. Their downfall might not normally garner much attention, but it does underscore the full extent of the damage Covid-19 has inflicted on the economy. The official B2B liquidation auction marketplace for Walmart Liquidation, offering bulk lots of Walmart.com returned and overstock merchandise. But just as its peak season was about to kick off, states including Texas banned large gatherings, shut down schools and asked residents to stay at home. The company had its strongest-ever year of worldwide growth in 2019, but the coronavirus, social distancing and gym closures hit its business like a 500-pound dumbbell. Are more store closings coming? Born out of the dot-com bubble, Occasion shipped its first dresses for the 1999 prom season. When a company enters liquidation, the decision has been made for the business to cease trading and the legal entity will be dissolved. Source: Bounce For Fun, Craft fair operator in Maryland with $0.5M estimated assets, Diner owner in California with $50.0K estimated assets, Bakery chain in California with $50.0K estimated assets, A box of cookies from Specialtyâs location in downtown Los Angeles. These are some of the more than 330 companies that declared bankruptcy in the U.S. this year and blamed Covid-19 in part for their demise. The Nashville, Tennessee-based firm has pivoted by making its vehicles available for other uses. The company, which has 26 facilities treating people with substance-abuse issues in eight states, was already having trouble servicing its debt payments when the coronavirus hit the U.S. Stay-at-home orders and travel restrictions helped drive a decline in outpatient visits and inpatient admissions, while the company was forced to spend time and resources keeping its facilities open with enough staff and personal protective equipment so they and the patients would be safe. Marilyn Monroe. âI am not willing to go deeper and deeper when there is nothing on the horizon that says we are coming back or not coming back.â. The vast bulk, though, are small and medium-sized businesses scattered across the country. For 15 years, their Black Bear Diners were popular places to sip coffee and exchange local gossip in the two small towns where they operated before the pandemic hit. The Liquidators Guide is a step-by-step, comprehensive resource for resellers who want to tap into the profitable liquidation merchandise industry. Liquidation sales have changed:Going-out-of-business sales different because of … They tried to borrow about $350,000 through the Paycheck Protection Program, but computer problems at their bank spit out the application before it could be processed in time to qualify. They have since sold their house and moved to Southern California looking for a fresh start at a time when they had expected the diners to subsidize their retirement. The bankrupt company was later approved for $30 million in federal coronavirus-relief funds and in early July it sold many of its planes and assets to other aviation companies. Applications for Winding up/Liquidations. Public Notices. Between lost sales and a surge in returns, Occasion filed for bankruptcy on July 22. Without the funds, the company had âno viable alternativeâ other than shutting down, co-Chief Executive Officer Raymond Gindi said in a statement. Companies Act. A dispute with Ucannâs largest creditor, who tried to attach some of the companyâs assets, eventually precipitated the bankruptcy filing on April 20. The sector had been under pressure from New Yorkâs 2016 decision to limit flights following resident complaints about the ânon-stop din of helicoptersâ in the city. In the court documents, Father Patrick R. Carr said the Archdiocese faced financial challenges ranging from lawsuits alleging sexual abuse to a drop in âofferings and collections at Masses which are no longer publicly celebrated due to the Covid-19 pandemic.â. ... KPMG was appointed as administrator and the business is expected to be liquidated, according to the CRR. Publication Date 3 Dec 2020: Advertisement of Application for Putting Company into Liquidation. Chief Executive Officer Andrew McWilliams found a silver lining in the pandemic, noting that the grim national mood is actually good for the company. Photographer: John Raoux/AP Photo, Medical hemp company in Colorado with $1.0M estimated assets, Professional sports league in Connecticut with $10.0M estimated assets, An XFL game in Houston, Texas, on Feb. 8, 2020 . While its stores in tourist-heavy outlet malls in New York and Hawaii were performing well, locations that relied more on local shoppers had faltered, the company said. Takeout didnât work. Nov 25 2020, 7:50 PM Nov 25 2020, 7:50 PM November 25 2020, 7:50 PM November 25 2020, 7:50 PM The bankruptcy regulator wants to give companies that have voluntarily sought liquidation an opportunity to change their mind. Goldâs closed about 30 gyms when it couldnât renegotiate the leases with landlords, abandoning some equipment, and found other locations where members of its shuttered facilities could go to work out. In most cases, companies provide an estimated range. For almost two decades, Diamond Coach Leasing provided transportation to the stars, ferrying celebrity concert headliners and other artists in luxury buses as they criss-crossed the U.S. By Retail Dive Team So the National Collegiate Athletic Associationâs decision to cancel the event because of Covid-19 was a major blow. Allegations of sexual abuse had been piling up for decades, leading to the removal of dozens of priests and deacons, according to a report the Archdiocese released in 2018. Retired Merchant Marine veteran Joe Gold launched his fitness empire in a rough cinder-block building near Muscle Beach in Venice in 1965 with weight-lifting equipment he built himself. Yet after 33 years in business, shelter-in-place restrictions âessentially destroyedâ Specialtyâs market, according to the trustee for the estate. Our online database is updated daily with new distressed listings and our members are notified of new distressed businesses via our daily email alerts. Assets of at least $10 million were listed under The LASIK Vision Institute. Then the Covid-19 pandemic swept the nation, forcing mall owner Simon Property Group to shut its retail properties in March. By clicking âSign upâ, you agree to receive marketing emails from Business Insider But diner food is comfort food, Andrews said. He and Debbie, who is 68, were forced to put the diners into bankruptcy in June and walk away. Asset values are from bankruptcy petitions. Updated Sep 4, 2020 A liquidation sale at closed Mall of the Bluffs is gearing up Saturday, according to The Auction Mill, the Omaha company hired by Menard Inc. … +3 âThe numbers just donât work,â he said. Publication Date 8 Dec 2020: TOP QUALITY PAINTERS LIMITED and BEST COMMUNICATIONS LIMITED (both in liquidation) 2020-al5656 Preview. For almost two decades, Bounce For Fun helped churches, schools and homeowner associations make their parties memorable for kids. It is not a definitive list but a summary of the major company failures in the UK. It even offered a 24-foot rock-climbing wall and a trackless train. Now, going-out-of-business sales are underway at about 280 stores. Account active For Vista Proppants and Logistics LLC, assets of at least $100 million are listed under the related entities Lonestar Prospects Management LLC and Lonestar Prospects Ltd. Ravn Air Group, the biggest regional carrier in the state, saw passenger revenue drop by 90 percent. Some of the companies, which Grimmel oversees as a liquidator include Cheney Pelmets (Private) Limited, Laputa Trading (Private) Limited, Tadnet Investments (Private) Limited, Riverside Funeral Services (Private) Limited, and Retnim Pumps Importers & Maintenance (Private) Limited. Here's the full list. Financial trouble at United Cannabis began with a classic imbalance between supply and demand. Occasion, the owner of PromGirl.com and a partner to Kleinfeld Bridal, was gearing up for its busiest time of the year in March when the pandemic first swept the U.S. What had been a $50 million-a-year business saw its revenue all but vanish seemingly overnight. To find if a person has been adjudicated bankrupt or admitted to the No Asset Procedure, please search the Insolvency Register. With no talk of rent concessions, the owners put their two LemonShark locationsâone in the Florida Mall, the other elsewhere in Orlandoâinto bankruptcy protection to get out of the mall lease. as well as other partner offers and accept our, Holly Hildreth / Contributor / Getty Images, Photo by Mel Melcon/Los Angeles Times via Getty Images, Michael Brochstein/SOPA Images/LightRocket via Getty Images, Alex Tai/SOPA Images/LightRocket via Getty Images, Jeffrey Greenberg/Universal Images Group via Getty Images, Denise Truscello/Getty Images for ITSUGAR. Cost overruns and disappointing sales, combined with financial challenges at the Austrian parent, had forced executives in the U.S. to consider a bankruptcy filing or a liquidation. Some school districts rejected contracts and stopped paying ABA, which serves Nassau and nearby counties under units including Baumann Bus Company, Baumann and Sons Buses, ACME Bus Corp. and Brookset Bus Corp., according to court documents. One Day Liquidation Estate Flash Sale - Council Bluffs estate sale • 1 day sale • sale is over Address The address for this sale in Council Bluffs, IA 51503 will no longer be shown since it has already ended. Like more than 20 other U.S. church districts that have sought bankruptcy protection to settle such claims in an orderly way, the Archdiocese - with roots that predate the 1718 founding of New Orleans - filed for Chapter 11 on May 1. How the @xfl2020 went from launching a promising new sports league to bankruptcy in just 2 months due to #Covid19.Read more @business: https://t.co/4cx5N9Q5jF pic.twitter.com/P6a6Emz0os, How the XFL went from launching a promising new sports league to bankruptcy in just two months due to Covid-19. Publication Date 3 Dec 2020: Advertisement of Application for Putting Company into Liquidation. Company Name Status Region Sector SIC Codes; RENT A CAR 4U LIMITED: Dissolved: Lancashire: Realestate: 7110: ACCUBEAM CONTRACTS LTD: Dissolved: City of Bristol: Construction Others had only a handful of employees on payroll. Watch on Bloomberg QuickTake. The company is dealing with falling revenue and long-term leases that donât reflect âCovid-19-adjusted market realities,â it said in court papers filed last month. UPDATED (21/10/20) - The 2020 airline bankruptcy list is open. The company is now planning to sell itself to German fitness company RSG Group GmbH for $100 million after it won a court auction. âIt went from being an okay business to being a giant black hole money drain,â said lawyer Jeffrey Ainsworth, who represents the LemonShark restaurant in its bankruptcy. Photographer: Thomas Campbell/XFL via Getty Images, Regional airline in Alaska with $100.0M estimated assets, A Ravn plane picks up passengers in Napakiak on the Yukon Delta, Alaska, on April 19, 2019. The Florida sawmill eventually filed for bankruptcy protection on April 30. For those, the higher value is used. "We had to tell 4,500 people: we're not letting you go but we need to put everything on pause. It listed assets and liabilities of between $100 million and $500 million. Companies can also use bankruptcy as an opportunity to turn things around financially. Regus and its parent, IWG, are not in bankruptcy. For John Barrett Inc., assets of at least $1 million are listed under a related entity, Mezz57th LLC. … Here's a list of the retail companies and restaurant chains that have filed for bankruptcy so far in 2020: Source: Associated Press, Business Insider, Supermarket News, Source: Business Insider, Business Insider, Source: Business Insider, Business Insider, Pittsburgh Post-Gazette, Source: Business Insider, Chain Store Age, Source: Associated Press, Business Insider. 11/12/2020: Construction: Hampshire-11/12/2020: Accommodation And Food Service Activities: Mid Glamorgan: £6,271: 11/12/2020: Professional, Scientific And Technical Activities: Leicester-11/12/2020: Construction: N/A-11/12/2020: Financial And Insurance Activities: N/A-11/12/2020: Professional, Scientific And Technical Activities: N/A-11/12/2020: Education: West Midlands: £14,007 The list of U.S. companies that blamed Covid-19 for helping to push them into bankruptcy has grown to more than 330. ADVENTIVE PTY LTD ACN: 611 609 306 Status: In Liquidation NOTICE OF APPOINTMENT AS LIQUIDATOR Paragraph 491(2)(b) Regulation 5.5.01 Date: 09/12/2020 âWe were hemorrhaging so much money, I just couldnât do it anymore,â Andrews, 67, said in an interview. The list compiled for this story is based on court records, statements and interviews in which business owners or their lawyers explicitly linked the virus to their decision to file. âWe had to tell 4,500 people: weâre not letting you go but we need to put everything on pause.â Hereâs how the Covid-19 pandemic bankrupted 55-year-old Goldâs Gym. Regus has loaned the offices more than $400 million to get them up and running. New Jersey governor Phil Murphy ordered all … Flyest (Argentina) A small airline that operated mainly between Buenos Aires and Montevideo as well as a couple of domestic destinations in Argentina with CRJ200 aircraft. Their insurance company rejected their claim for damages, even though they had paid for loss-of-income coverage. Publication Date 8 Dec 2020: RAMS SAI LIMITED and SAI RIDGE LIMITED (both in liquidation) 2020-al5654 Preview. Photographer: Jason Kirk/Hulton Archive/Getty Images, Non-profit in Louisiana with $100.0M estimated assets, A reverend prepares to bless residents on Holy Wednesday outside St. Dominic Catholic Church in New Orleans, Louisiana, on April 8, 2020. Since the end of July, co-working company Regus has put more than 100 of its U.S. properties into bankruptcy under its RGN-Group Holdings unit. Photographer: Joe Magnano, Fitness chain in Texas with $50.0M estimated assets, Goldâs Gym in Venice, California, on Oct. 30, 2000. It called its brands âthe latest victims of the retail apocalypse.â. Retailers, airlines, restaurants. Most will try to reorganize and emerge from court smaller and less-indebted, as companies like preppy retailer J. Some, like apparel company Ascena had stores dotting suburban malls across the country. Here's a list of the retail companies that have filed for bankruptcy so far in 2020: The entire fleet of Papyrus stores was slated to shut down when the chain's parent company… Employees who had learned they would no longer need to show up for work sued the company, alleging they werenât given enough notice and hadnât received their final paychecks. But RTW conceded in court papers that it had struggled for years to weather changing fashion tastes and declining foot traffic in malls. A leading-edge research firm focused on digital transformation. Now the company hopes to sell itself to another buyer in an auction next month. Then came Covid-19. In a usual year, Diamond would be coming off its peak season, with roughly 52% of earnings made in summer months. Problems at the New Orleans Archdiocese started long before Covid-19. A local government agency plans to buy the monorail out of bankruptcy for just $24 millionâa pittance compared to the $650 million of municipal bonds sold to finance its takeover and expansion in 2000. Quicklotz is one of the leading wholesale liquidation firms based in New York and Miami. By early 2020, Klausner Group, a lumber producer based in Austria, was already running out of options to salvage its sawmill in Live Oak, Florida. Sign up for Insider Retail. Shop with us November 19-21 in Council Bluffs, Iowa. Then the statewide closure of bars in mid-March, on top of a long-running landlord dispute, led Two Keys and its owner Seth Bennettâs Sethco LLC into bankruptcy court in July after more than 66 years in business. Billionaire New York real estate mogul Charles S. Cohen, who also owns Harrys of London, purchased T. Anthony in 2018. The change proved âwell-timedâ given the pandemic, but Furla USA still faced âunprecedented liquidity and operational challengesâ when it was forced to temporarily close its shops to comply with local health orders. How the XFL went from launching a promising new sports league to bankruptcy in just two months due to Covid-19. We list UK companies that fall into administration, liquidation and have winding up petitions lodged against them. Stein Martâs bankruptcy might serve as a warning about the risks of re-opening the economy too soon. I have been making Liquidations sales for about a year now and have purchased pallets or lots from several companies. Note: Graphic shows companies that have filed under Chapter 7 or 11 of the U.S. Bankruptcy Code and have mentioned Covid-19 as a factor in their decision to file. Any alterations after this time will be telephoned or emailed direct to the parties or their legal representatives. 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