Retailer Forever 21 plans liquidation sales after second bankruptcy
The retailer, which has minority ownership ties to Indianapolis-based Simon Property Group, has two stores in the Indianapolis area.
Bankruptcy
Joann plans to close all stores, cease business operations
Monday’s announcement comes less than two weeks after the retailer announced it would close more than two-thirds of its stores, including two in the Indianapolis area.
Big Lots puts more store leases up for sale
Bankrupt discount retailer Big Lots has added more than 200 stores to a nationwide list of locations that are likely to close, including a pair of stores in Indianapolis.
Bankrupt Spirit Air rebuffs new takeover offer from Frontier
Spirit Airlines Inc. rejected a new acquisition offer from the parent of Frontier Airlines but said it remains open to a long-discussed combination of the budget carriers.
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
The filing arrives two weeks after the trading of company shares was suspended by the New York Stock Exchange. Under Chapter 11 protection, The Container Store will continue to operate while it restructures.
Big Lots conducts going-out-of-business sales after sale of company falls through
According to the company’s website, all stores are closing and discounts of up to 50% are being offered on the entire assortment goods.
Spirit Airlines files for bankruptcy as financial losses pile up
The airline has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion in 2025 and 2026.
American Freight Appliances and Furniture closing all stores in Indianapolis
The owner of the retail chain, which operates stores throughout Indianapolis and Indiana, has agreed to close all stores nationwide as part of a Chapter 11 bankruptcy agreement.
Court approves Tupperware’s sale to lenders, paving way for brand’s exit from bankruptcy
Going forward, customers in “global core markets” will still be able to purchase Tupperware products online and through the brand’s decades-old network of independent sales consultants.
Indiana-based Do It Best inks agreement to acquire True Value assets
Chicago-based True Value, which has hardware stores throughout Indiana, on Monday began voluntary Chapter 11 bankruptcy proceedings, with the goal of selling its business operations to Do It Best Corp.
Iconic Tupperware Brands seeks Chapter 11 bankruptcy
In Tuesday’s bankruptcy petition, Tupperware reported more than $1.2 billion in total debts and $679.5 million in total assets. Shares for the company have fallen 75% this year and closed Tuesday at about 50 cents apiece.
Big Lots files for bankruptcy protection, plans to sell assets to Nexus Capital
Big Lots said it does plan to close some stores, but didn’t specify how many or what locations would be affected. At the end of 2023, Big Lots operated nearly 1,400 stores in 48 states.
Bankrupt LL Flooring finds buyer, plans to keep 200-plus stores open
The flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments and now plans to keep some of its stores open instead of completely ending operations.
Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain’s sale
A U.S. bankruptcy judge on Thursday approved the casual seafood chain’s reorganization plan, which includes a lender group led by asset manager Fortress acquiring the business.
Buca di Beppo files for bankruptcy, closes Indianapolis restaurant
Italian restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy on Monday, days after closing 13 underperforming eateries nationally, including one of its three local locations.
Fisker becomes second electric vehicle maker to file for bankruptcy in past year
EV sales have slowed as manufacturers have attempted to push electric vehicles into the mainstream.
Bankruptcy filings rise as consumers struggle with credit card debt, more
In the U.S. Bankruptcy Court for the Southern District of Indiana, April numbers for all bankruptcy cases—including Chapters 7, 11 and 13—were up 19.9% compared to the same time last year.
Red Lobster files for Chapter 11 bankruptcy protection
After closing dozens of restaurants, including one in Indianapolis, the seafood chain has agreed to sell itself to its lenders―giving it a $100 million financing commitment to keep it afloat.
UPDATE: Express files for bankruptcy, announces store closures, possible sale
A consortium that includes Indianapolis-based Simon Property Group has offered a non-binding letter of intent to potentially purchase the majority of its stores and operations. Four Indiana stores are slated for closure, according to bankruptcy papers.
Retailer Joann files for Chapter 11 bankruptcy protection
The fabrics and crafts retailer, which has five Indianapolis-area stores, will become privately owned after emerging from Chapter 11 bankruptcy protection.