Tag Archives: bankruptcy

Grand Closing: Forever 21 Files For Bankruptcy

Posted on October 1, 2019 by Benny Hollywood| Leave a comment

Source: NurPhoto / Getty It seems that the popularity of online shopping has claimed another brick and mortar based business as victim. Forever 21 is in deep financial trouble. High Snobiety is reporting that the fashion retailer has officially filed for bankruptcy . According to The Financial Times the brand plans to restructure their organization in an effort to minimize loss. This includes shutting down up to 300 of their stores across the world. According to the documents filed the Los Angeles, California based company is listing assets and liabilities between $1 billion to $10 billion. In a formal statement listed on their site Forever 21 claims they are not shutting down their operations. “Essentially this allows Forever 21 to continue to operate its stores as usual, while the Company takes positive steps to reorganize the business so we can return to profitability and refocus on delivering incredible styles and fashion you love for many years to come. This does NOT mean that we are going out of business – on the contrary, filing for bankruptcy protection is a deliberate and decisive step to put us on a successful track for the future.” This new filing is just another name in the bucket of retailers who are hemorrhaging money. In August the iconic New York City store Barney’s filed for bankruptcy protection . Photo: Getty

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Grand Closing: Forever 21 Files For Bankruptcy

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Black Twitter Has Thoughts About Forever 21 Potentially Filing For Bankruptcy

Posted on September 3, 2019 by Benny Hollywood| Leave a comment

Source: George Rose / Getty Ladies and gentlemen, it’s officially the end of an era! While many fashionistas loved browsing the racks at Forever 21 , we’re afraid that the retail giant may have to take a loss and file for bankruptcy. What does this mean for fans of the brand you may ask? Many locations may have to close their doors! According to Bloomberg , the company has been working tirelessly to avoid bankruptcy. “The company has been in talks for additional financing and working with a team of advisers to help it restructure its debt, but negotiations with possible lenders have so far stalled,” Bloomberg reports. “Focus has thus shifted toward securing a potential debtor-in-possession loan to take the company into Chapter 11, they said, even as some window remains to strike a last-minute deal that keeps it out of court.” Naturally, a bankruptcy filing would give the retailer a little bit of room to close down underperforming stores and help rebuild the business. However, this move may affect some of the biggest mall management companies. Bloomberg reports that if Forever 21 closes a significant number of stores, landlords such as Simon Property Group and Brookfield Property Partners (two of the largest mall owners in the country) may have trouble filling the vacancies. Most people blame fast fashion brands such as Fashion Nova and Pretty Little Thing for the decline of many stores. Some people also blame the fact that the brand has stolen images of hip hop stars and have even been accused of sending of diet bars with plus size orders as the culprit for its demise. While this all may be true, we can’t deny that consumer shopping habits change like the wind. In order for retail locations to stay ahead of the game, they must provide shoppers with what they need. While there is no word on the retailer closing any of its 800+ locations in Asia, Europe, Latin America and the U.S. at the moment, it hasn’t stopped shoppers from anticipating the inevitable. This move is definitely troubling for business, but Forever 21 shoppers are green with delight! The possibility of stores closing means one thing- closeout sales! In the meantime, Black Twitter has been on one since the news broke. Here are some of the funniest and real reactions: 1. Been walking around in forever 21 leggings with my ass showing through. No wonder why they’re going bankrupt. I’m out here giving out a free show WTF — J (@jaylaacortez) August 31, 2019 2. i said i was saving money this week but bitch this forever 21 bankruptcy sale??? — (@natsvibes) September 2, 2019 3. I just heard the best news Forever 21 may file for bankruptcy? Hello??? All of you that have refused to shop at Forever 21 to help out environment and our workers please give yourself a huge round of applause!!!! We did it folks. If this is bad news for you, I’m not sorry pic.twitter.com/BL3gLNYdj3 — Julie Ramirez (@atornkneejulie) August 30, 2019 4. FOREVER 21 IS DECLARING BANKRUPTCY AND CLOSING ALL STOR- pic.twitter.com/XW6OF1OhWi — Professional Binch (@FatTiddyJones) August 30, 2019 5. This is why forever 21 is going out of business. They sell bs like this pic.twitter.com/IsA0dF62Y5 — Freddie Mercurina (@mzhotniz86) September 1, 2019 6. @Forever21 when’s the bankruptcy sale? I got moves I’m tryna make — Reem (@smoothieflavors) September 2, 2019 7. Why does Forever 21 keep sending me all these emails knowing they about to file for bankruptcy — Tamaria Meshele (@tamariatweets) September 1, 2019 8. I can confirm that Forever 21 has the mean bankruptcy sale going on. I got a romper, some pants and two pairs of earring for $30. — Echo (@EchoDoesRadio) September 1, 2019 9. Forever 21 is about to file for bankruptcy, it’s what they deserve for having us thinking we were walking into a room filled with a drunk unicorns vomit and clothes that only fit the mannequins #forever21isoverparty — aleck CURLiE (@itsaleckxander) September 1, 2019 10. I’m lowkey mad at Forever 21 for them filing for bankruptcy. Where the hell am I supposed to get clothes now?! — isty L. ’Neal, Esq. (@themistyohno) September 1, 2019 BEAUTIES: What do you think? DON’T MISS: Forever 21 Under Fire For Reportedly Using U.S. Sweatshops To Manufacture Clothing #BlackLivesMatter Takes Over Forever 21, Bruce Jenner’s Nail Movement & More Fashion News You Won’t Believe Forever 21’s N.W.A Apparel + 5 Other Fashion Faux Pas [ione_media_gallery src=”https://hellobeautiful.com” id=”3056201″ overlay=”true”]

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Duane Martin Says Tisha Campbell Is Lying About Domestic Abuse

Posted on March 21, 2019 by Benny Hollywood| Leave a comment

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Text “RICKEY” to 71007 to join the Rickey Smiley Morning Show mobile club for exclusive news. ( Terms and conditions ). Source: Axelle/Bauer-Griffin / Getty It was a sad day when we learned that one of our favorite couples from the 90s, Duane Martin and Tisha Campbell , were getting divorced. The two had been together for 21 years before separating last year. Sign Up For Our Newsletter! Close Thank you for subscribing! Please be sure to open and click your first newsletter so we can confirm your subscription. Email Submit It’s what’s been a complicated public breakup, with reports of a battle over spousal support and domestic abuse, Martin is speaking out saying the abuse allegations are not true and that Campbell and her brother “illegally removed” his name from bank accounts and cut off his access to money. According to TheBlast , Martin says his ex and her brother “manufactured a false claim of alleged domestic violence against the Co-Debtor which they filed with the police. Even Co-Debtor’s family law attorney would not sign his name on such a claim. The police saw the claim for what it was and did not pursue it.” As previously reported , Campbell accused him of hiding money, threatening to keep their children from her, and was granted a restraining order this year after alleging Martin abused her “emotionally, mentally and physically” for years. [ione_media_gallery src=”https://rickeysmileymorningshow.com” id=”1870958″ overlay=”true”] RELATED: Tisha Campbell And Duane Martin File For Bankruptcy RELATED: Duane Martin Seeks Spousal Support In Divorce From Tisha Campbell-Martin RELATED: Tisha Campbell-Martin Granted Restraining Order Against Duane, Claims He’s Been Physically Abusive For Years Follow @TheRSMS

Duane Martin Says Tisha Campbell Is Lying About Domestic Abuse

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End Of A Era: Payless To Close All 2,100 Stores In The United States

Posted on February 19, 2019 by Benny Hollywood| Leave a comment

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Source: NurPhoto / Getty Payless is closing up shop in the United States. The discount shoe store is set to close all 2,100 of its locations in the United States and Puerto Rico in the next few months. The liquidation sale began on Sunday and stores will be closing up shop in March, though most are set to stay open until May. Payless is also shutting down its online store. It could file for bankruptcy for a second time by the end of the month, according to reports. Founded back in 1956, Payless has more than 3,600 locations in 40 countries and over 18,000 employees, per its website. The international franchises and Latin American stores will not be affected by the closure. Payless first filed for Chapter 11 bankruptcy in April of 2017, closing 400 stores in the process. It reorganized soon after, cutting millions of dollars in debt but it wasn’t enough to fully save the company. RELATED: Toys ‘R Us Files For Bankruptcy RELATED: 5 Easy Steps to Building Good Credit after Bankruptcy

End Of A Era: Payless To Close All 2,100 Stores In The United States

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Abby Lee Miller is a Free Woman. Now What?!?

Posted on March 28, 2018 by Benny Hollywood| Leave a comment

It’s official: Abby Lee Miller is no longer in the big house. But the former Dance Moms host is not yet living in her own house just yet, either. So… where is the irritating, self-aggrandizing, bullying reality star? According to TMZ sources, Miller has been moved from the Victorville, California prison in which she’s been forced to reside for months to the Residential Reentry Center in Long Beach. This is a halfway house. Such a facility will provide the ex-Lifetime star with a “safe, structured and supervised environment,” as described by the aforementioned website, where she’ll be given employment counseling, job placement and financial management assistance. This is, of course, ironic for multiple reasons. For starters, Miller was indicted in 2016 on 20 counts of fraud after prosecutors claim she hid $755,000 in income from the government. She was sentenced in May of 2017 to 366 days in federal prison. But Abby has made the most of this time, by which we mean she’s done the most she can do to remain relevant and ensure herself of a big payout upon her release. In January, Miller shared the above photo of herself in jail, releasing a statement at the time that proved she has learned basically nothing from her mistakes. “Sometimes in life you make mistakes. I trusted the wrong people and didn’t pay any attention to things I should of,” said Miller at the time , blaming her advisors for her bankruptcy fraud conviction. She went on to pat herself on the back, while simultaneously shooting down chatter that she’s been complaining and whining about life behind bars: “My world flipped upside down when I had to enter prison. I did so with grace, the stories you read about me been a princess are untrue. “I have made friends with both inmates and staff, I’ve tried to better myself, participated in anything offered to me and I am a better person for this experience.” Miller rose to fame years ago as the lead choreographer on Dance Moms. She often yelled at her kids and got into fights with their parents, earning a reputation as someone who is tough-minded, stubborn and, some have said, verbally abusive. She then quit Dance Moms in a lengthy Instagram post that slammed producers for the tiny budget she had allegedly been given, saying many times over that she had been treated unfairly. Someone really needs to buy Miller a violin she can just play for herself at all times. Has anyone ever thrown herself so many pity parties? The thing is, it’s almost certain that Miller will earn some kind of huge payday once she’s actually a fully free woman. We have no doubt she’ll earn a pretty penny for some kind of exclusive interview with a tabloid or a news magazine, while probably even being named the star of some reality show. Remember Teresa Giudice? She went to jail for a similar financial crime, came out and was instantly made the highest-paid woman on The Real Housewives of New Jersey . This is just the world in which we live. Sad. View Slideshow: 27 Scandals That Rocked Reality TV

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Howard Law

Posted on September 17, 2016 by Benny Hollywood| Leave a comment

25 years experience in Bankruptcy Law in the Denver metro area. We also have related experience in divorce and corporate law, as well as general civil litigation. Bankruptcy cases often involve spouses, businesses, and other important civil areas. ADDRESS: 7535 E. Hampden Ave #520, Denver, CO 80231 PHONE NO: #x0028;303#x0029; 751-8141 GOOGLE+: https://plus.google.com/115034473791075589697 WEBBSITE: www.howardgoodmanlaw.com

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BOSSIP Exclusive: Judge Clears Scott Storch’s Massive Bankruptcy Debts

Posted on September 3, 2016 by Benny Hollywood| Leave a comment

Music Producer Owed $4.3 Million In Debts Scott Storch can breathe a little easier about his financial situation after a federal court judge discharged the majority of his more than $4 million debt in his bankruptcy, which means most of his money problems have been wiped clean. Last year, Storch – who was once worth an estimated $70 million for his work in producing music for Beyonce, Justin Timberlake and many more – filed for Chapter 7 bankruptcy, and claimed he had less than $4,000 in assets to his name. His assets include $100 cash, $500 in clothing, a watch worth $3,000, several music companies valued at $0 and no other property. But his liabilities came out to $4,393,679, including $105,000 owed on an automobile, $46,000 in legal bills, thousands unpaid to collection agencies, a $1.5 million judgment plus another $2.1 million judgment from lawsuits, $68,000 to Mandatory Entertainment, $294 to a collection attorney for Direct TV, $22,000 the state of Florida for unpaid taxes and various other creditors. Storch listed his occupation as musician/producer and claimed to bring in $4,000 a month. But he said he spent $1,200 on food and household supplies, $400 on childcare and education costs, $100 on clothing and dry cleaning, $200 on personal care products, $250 on medical bills, $400 on transportation and $800 on entertainment – leaving him with $650 after he pays all his expenses. The music producer hit financial troubles back in 2009 and filed for Chapter 13 bankruptcy claiming he had assets in the $0-50,000 range but liabilities in the $50,000-$100,000 range. The case was dismissed because Storch didn’t fill out the required documents in the bankruptcy. Back in the early 2000’s the music producer was worth an estimated $70 million dollars, but he said he went broke because of a raging cocaine habit and living the high life. He also lost his mega-mansion to foreclosure and was slapped with numerous lawsuits over unpaid bills. Then on August 30th, Storch finally got some good news about his finances with the federal court judge discharging his massive debts. The order will wipe clean the majority of his $4.3 million debt, with exceptions being most back taxes, child support obligations and other debts related to criminal restitution or fines. Storch has been given a fresh start to rebuild his finances but the case will continue on with the trustee figuring out how to pay back his many creditors.

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BOSSIP Exclusive: Judge Clears Scott Storch’s Massive Bankruptcy Debts

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The Real Housewives of New York City Season 8 Episode 7 Recap: Bethenny WRECKS Sonja!

Posted on May 19, 2016 by Benny Hollywood| Leave a comment

After all they’ve been through o’er the years, for Bethenny Frankel and Sonja Morgan, is there still hope to have a long-lasting friendship? Or even not-so-close-friends who mostly kind of get along? We found out on The Real Housewives of New York City Season 8 Episode 7 … Watch The Real Housewives of New York City Season 8 Episode 7 Online When you watch The Real Housewives of New York City online , trouble started brewing from the first minute over Sonja’s Tipsy Girl brand. Countess Luann said she thought the moniker might hit Bethenny Frankel, founder of Skinnygirl, “a little close to home,” but Sonja disagreed. Suffice it to say, Sonja is clueless and not self-aware. “It’s a little too close for comfort,” Bethenny told Ramona. “If I had walked into that party and seen that, I think I would have just walked out.” She compared it to watching your husband have sex with somebody else and told Carole Radziwill that she is now “done” with Sonja. Well, “done” in a manner of speaking. Naturally, Sonja was set to come into the Skinnygirl office for a chat later that week. Well done, RHONYC producers. Very well done! When that meeting arrived, Bethenny cut right to the chase: “So you are saying that you are coming out with a brand called Tipsy Girl.” Frankel told Morgan that her partners were “shady” and began grilling Sonja about who her distributors are, and talking way over her head. “They call it a cheater brand,” Bethenny said, laying into the product and her co-star, HARD. “You’ve asked me for business advice.” “I’m actually just personally hurt.” View Slideshow: 16 Reasons Why You Need a Best Friend Like Sonja Morgan “I put my neck out for you, brought you into my world,” she went on. “I’m completely insulted, and I don’t want anything to do with you.” “Well, I never would have thought that,” Sonja said. Bethenny retorted, “Well, you thought wrong.” “I think you’re a fraud. You’ve come up with six fake businesses, and no one buys any of it,” Frankel added. “Nobody believes any of it.” Then Sonja played the bankruptcy card: “Right now, the aftermath of that chapter 11 is really hitting me. I’m just trying to get back to where I was. I thought alcohol was a great idea.” “I just thought I would have a couple of things, the rosé and the prosecco … certainly not what you did, not sell it for 10 million or 100 million.” “Just sell what I can in their restaurants.” Bethenny called for someone to get Sonja a tissue and wished her well, but still noted, “I don’t believe that you didn’t do this intentionally.” Follow the links above to watch this play out in full, and to see whether the beef between Ramona Singer and Dorinda Medley escalates. Spoiler alert: Of course it does. C’mon. View Slideshow: Ramona Singer And Her Eyes: 13 Ramotional Moments

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