In March it was announced that Sports Authority, a nation-wide sports retailer would be filing for Chapter 11. Now it looks like sports retailer Sports Chalet will be following in its competitor’s steps.
We talk a lot about Chapter 7, Chapter 11, and Chapter 13 bankruptcy because they are the most commonly filed among consumers and businesses.
Buffets LLC, the owner of Hometown Buffet, Fire Mountain, and several other restaurant chains has filed for Chapter 11 bankruptcy. This is the third business of its type that has filed for bankruptcy protection in less than a decade.
Sports Authority, a national retailer of sporting goods, has declared its intentions to file for bankruptcy. The bankruptcy could happen as early as March, which would mean the closing of some of the retailer’s 450 stores across the United States.
Bankruptcy is not uncommon among Hollywood. In fact, it happens more often than you would think. Just take a look at this list of celebrity bankruptcies.
Rapper 50 Cent filed a Chapter 11 bankruptcy last July, but this past weekend he took to Instagram to show off video of his new house in Africa.
Late last December, longtime Phoenix retailer, the RoomStore furniture chain, filed for Chapter 11 business bankruptcy. With it, came a lesson for all retail stores that are still struggling in the wake of the financial crisis: you have to be nimble.