bankruptcy

August 3, 2020 | Alex Argiris

Retailers Lord & Taylor, JoS. A. Bank’s Parent Company Declare Bankruptcy

Struggling to turn a profit amid the coronavirus pandemic, two more major retailers have filed for bankruptcy. Lord & Taylor, America’s first high-end department store, and Tailored Brands, the parent company of JoS. A. Bank, filed for Chapter 11 protection. The two large retailers are the latest casualties of COVID-19, as economic shutdowns forced non-essential […]

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June 26, 2020 | Deirdre Byrne

Chuck E. Cheese Files for Bankruptcy; Gaithersburg Location Closes Permanently

The Chuck E. Cheese in Gaithersburg has closed permanently. The news comes as Chuck E. Cheese’s parent company, CEC Entertainment, announced in a statement Thursday it was filing for Chapter 11 bankruptcy “in order to overcome the financial strain resulting from prolonged, COVID-19 related venue closures.” “The Company expects to use the time and legal […]

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May 4, 2020 | Suzanne Pollak

J.Crew Files for Bankruptcy

J.Crew Group, which operates several clothing stores in the Washington, D.C. area, has filed for bankruptcy in an attempt to restructure its debt. In Montgomery County, J.Crew has a store in the Montgomery Mall in Bethesda and a factory outlet at Clarksburg Premium Outlets. The company announced Monday that it had reached a deal with […]

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February 18, 2020 | Maryam Shahzad

Boy Scouts File for Bankruptcy After Lawsuits, Montgomery County Troops Unaffected

The Boy Scouts of America (BSA) filed for bankruptcy Tuesday in the midst of hundreds of sexual abuse lawsuits from former scouts who say they were abused by leaders.  This means that civil litigation is halted, and there will be no jury trial. Alleged victims with lawsuits now have to file in bankruptcy court. The […]

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January 28, 2020 | Deirdre Byrne

Bar Louie Closes in Wheaton, Rockville After Bankruptcy Announcement

Bar Louie’s Rockville and Wheaton locations are among the chain’s 38 locations to close over the weekend. A statement released by Bar Louie on Monday confirmed that the organization has filed for Chapter 11 bankruptcy protection and said it was closing  “underperforming locations to strengthen its operational and financial position.” Tom Fricke, CEO of Bar […]

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November 6, 2019 | Ashley Peccerelli

Nothing Lasts Forever: Two More Impending Closures at Lakeforest Mall

Forever 21 and F.Y.E will be closing at Lakeforest Mall in Gaithersburg.   Forever 21 is expected to close 111 locations in the U.S. after filing for bankruptcy in September. The fast-fashion retailer released a revised list of possible store closings. The Lakeforest location is one of the few in Montgomery County that was planned to continue operating but […]

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April 19, 2018 | Alvin Carlos, CFA, CFP®

Who Should Consider Bankruptcy?

Bankruptcy is an unattractive way to get out of debt. But one of our clients chose this path, and she’s never been happier. Meet Sue Sue (not her real name) is a single mom who works in Bethesda and lives in Prince George’s County. Half of her monthly take home pay goes to rent, and […]

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September 19, 2017 | Douglas Tallman

Toys R Us Bankruptcy Part of ‘Retail Apocalypse’

News reports say national toy retailer Toys R Us filed for bankruptcy Monday and a local blogger who watches retail industry says the year has had a record number of closings of stores across the country. Cheryl Kane Heimlich, who writes the Store Reporter blog, said, “People are calling this a retail apocalypse. This is […]

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December 7, 2016 | Sonya Burke

Senator Mikulski’s “Summing Up Speech” (VIDEO)

Senator Barbara Mikulski, the longest serving woman in Congressional history, delivered her “summing up speech” today. It was a trip down memory lane for Mikulski, who recalled her roots in Baltimore and the neighborhood cause that changed the direction of her life. “I have served in elected public office for 45 years; more than half […]

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March 3, 2016 | Staff Writer

Sports Authority Closing Gaithersburg Store

Sports Authority is closing dozens of stores across the country, including its store in Gaithersburg, as part of its Chapter 11 bankruptcy. “We have identified approximately 140 stores that we intend to close or sell in the coming months,” said CEO Michael Foss in a letter posted on the company’s website. “This was a tough […]

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