Mattress Firm Emerges from Chapter 11 with Optimized Store Footprint

Houston — Mattress Firm, Inc., the nation's leading specialty mattress retailer, has successfully completed its financial restructuring and emerged from Chapter 11. The company has closed more than 600 stores over the past couple of months and now moves forward with an optimized store footprint of approximately 2,600 stores.

David's Bridal Files for Chapter 11

Conshohocken, Pa. — On November 19, 2018, David's Bridal took the expected next step of filing for Chapter 11 bankruptcy protection. Doing so will reduce the company's debt by more than $400 million and provide significant financial flexibility to support long term growth prospects. The process is expected to be completed by early January.

Claire's Stores, Inc. Emerges from Chapter 11

Hoffman Estates, Ill. — Claire's Stores, Inc. has successfully completed its financial restructuring and emerged from Chapter 11 as the company's court-confirmed plan of reorganization went into effect on October 12, 2018. With support from its creditors and stakeholders, the company has eliminated approximately $1.9 billion of debt from its balance sheet and gained access to $575 million in new capital.

Charming Charlie Files for Chapter 11 Bankruptcy, Plans to Close 97 Stores

Houston — Citing struggles stemming from the rise of e-commerce, fashion retailer Charming Charlie has filed for Chapter 11 bankruptcy protection. During the Chapter 11 process, which was filed on December 11, 2017, the Houston-based fashion retailer plans to restructure its debt while maintaining and operating a majority of its stores, as well as its online platform.

Payless Prepares For Growth Post-Bankruptcy

Topeka, Kan. — Payless ShoeSource has outlined several key initiatives as part of the company's ongoing transformation. These actions will increase efficiencies across operations and allow Payless to re-prioritize the business to focus on the customer, accelerate and expand its e-commerce business, and invest in future growth — including expanding its domestic and international footprint.

Gymboree Emerges From Chapter 11 Positioned for Growth

San Francisco — The Gymboree Corporation has successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name Gymboree Group, Inc., which has eliminated more than $900 million of debt from its balance sheet and is right-sizing its store footprint.

Gymboree To Close Approximately 350 Stores

San Francisco — The Gymboree Corporation, following a comprehensive evaluation of its retail footprint, intends to close approximately 350 stores, mainly across the Gymboree and Crazy 8 brands. With the right size store base, the company will be able to focus resources on locations with the greatest potential and improve profitability.

BCBG Contemplates Sale of Substantially All Assets

Los Angeles — BCBG Max Azria Group, LLC (BCBG) and certain of its affiliates have reached an agreement on a comprehensive restructuring which contemplates the sale of substantially all the assets of the company through a Chapter 11 plan to Marquee Brands LLC and Global Brands Group Holding Limited.

American Apparel Files for Chapter 11 Reorganization

Los Angeles — American Apparel, Inc., a vertically-integrated manufacturer, distributor and retailer of branded fashion-basic apparel, has reached a restructuring support agreement with 95% of its secured lenders to implement a pre-arranged financial restructuring.

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