Collection Industry News

DECEMBER 27, 2023

Dec 13 (Reuters) – The retail sector could continue to lead U.S. bankruptcies next year due to sticky inflation and high interest rates, but analysts expect easing monetary policy to offer some respite in the second half of 2024. There have been 591 U.S. There have been 591 U.S. Riley Wealth, said.

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UK debt collections

NOVEMBER 13, 2020

In addition to seeking excess discounts and canceling orders, the vendors have revealed delayed payment practices in Transformers’ new report, “Ending Unethical Brand and Retailer Behavior: The Denim Supply Chain Speaks Up.”

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Retail Construction Bankruptcy Government 113

ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff. . Under section 365(d)(3) of title 11 of the United States Code (the “Bankruptcy Code”), a trustee or debtor in possession must generally pay rent in accordance with the terms of an unexpired lease. Under the Bankruptcy Code, a landlord is entitled to “adequate protection.” [xvi]

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Credit Corp

JANUARY 28, 2021

GameStop, a dying video game retailer, has blown past epic proportions to the point of hitting all-time highs in the stock market. Before its euphoric rise, GameStop was on a slow demise to bankruptcy, as it faced significant challenges to its business model from the internet. That’s a ~1700 percent increase!

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Trade Retail Acquisition Foreclosure 134

Receivables Control

SEPTEMBER 22, 2020

Retail has been battered. Particularly hard hit are apparel retailers and department stores. Bankruptcies are up sharply in the retail sector. Only recently have some of these businesses begun a return to limited service in regions of the country that support their openings. The energy industry has been shaken.

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Retail Healthcare Collections Bankruptcy 98

Collection Industry News

MAY 13, 2023

From Vice Media to Bed Bath & Beyond, bankruptcies are picking up again. Last week, corporate America had its worst 48-hour stretch of bankruptcies since at least 2008, according to Bloomberg. That is the formula for bankruptcy in this market.” That’s never a good comparison.

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Bankruptcy Retail Financial Institution Loans 40

Collection Industry News

FEBRUARY 27, 2025

an auto startup that was once a favorite of Wall Street analysts and retail investors filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations. The post Embattled EV maker Nikola files for Chapter 11 bankruptcy protection appeared first on Collection Industry News.

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Bankruptcy Startups Acquisition Retail 40

Payment Savvy

DECEMBER 7, 2023

According to various studies, medical expenses are the leading cause of bankruptcy in the United States. Eye Doctors & Optometrists You can pay for your eye exams, prescription eyeglasses, contact lenses, solutions, and other vision expenses with your FSA card at any optometry office or vision care retailer. What Is an FSA Card?

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Healthcare Retail Bankruptcy Financial services 105

Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million of third-party debt is set to expire early 2021. By Jerrold L.

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PBWT

FEBRUARY 5, 2023

This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. Administrative expense claims are governed by Bankruptcy Code section 503(b)(1)(A). ” As is discussed below, the focus is on what benefits the bankruptcy estate, not on what a claimant asserts it lost.

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Creditors Bankruptcy Debtor Construction 65

PBWT

MARCH 28, 2022

Bankruptcy protection allowed debtors to shed their massive tort liabilities through the creation of litigation trusts that would be funded in exchange for non-consensual third-party releases. This approach became so widely accepted that it is now codified in the Bankruptcy Code. Mahwah Bergen Retail Group, Inc. See 11 U.S.C. §

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Collection Industry News

DECEMBER 12, 2024

As inflation continued to rear its ugly head, consumers slashed their discretionary spending, tilting some companies to file for bankruptcy. At least 19 companies have cut a combined 14,000 jobs because of bankruptcies, according to Challenger, Gray & Christmas, an outplacement services firm. million in cash.

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Bankruptcy Retail Creditors Collections 40

Collection Industry News

DECEMBER 27, 2024

Corporate bankruptcies rose sharply in 2024, driven by high interest rates and lingering pandemic-era debt. As many as 686 companies filed for bankruptcy as of Dec. The retail industry also saw a wave of bankruptcies among public and private companies, culminating in surprising December filings by Party City and theContainer Store.

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Bankruptcy Healthcare Retail Collections 40

UK debt collections

OCTOBER 15, 2021

The Financial Services and Retail sectors top the charts for longest payment delays with a shocking 33% of all invoices going unpaid in September alone. Contrary to initial expectations, the new Insolvency Forecast reports UK business insolvencies declined 27% in 2020 as a result of fiscal support schemes and anti-bankruptcy measures.

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Collections Bankruptcy Retail Collection Agencies 84

PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. Post-petition, the debtor operated as a debtor-in-possession and, with the consent of one its largest pre-petition lenders, used cash collateral from its retail locations to continue operating. Bankruptcy Judge Joseph N.

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PBWT

JULY 1, 2020

As retail and other tenants fall further behind on rent and other obligations, lessors are finding themselves drawn into more and more Chapter 11 bankruptcy cases. Yet, while it may not always feel that way to them, landlords actually have it better than most creditors in bankruptcy.

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Collection Industry News

APRIL 13, 2023

New YorkCNN — Bed Bath & Beyond, the store for seemingly everything in your home during the 1990s and 2000s, filed for bankruptcy on Sunday. The company secured a $240 million loan to help fund its operations during bankruptcy. A bankruptcy filing does not necessarily mean that a company is going out of business.

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Bankruptcy Retail Manufacturing Loans 40

Credit Corp

MAY 4, 2021

For instance, if you’re a compulsive shopper, delete retail apps and turn off push notifications for sales. Consider Bankruptcy as a Last Resort. The thought of filing for bankruptcy might seem scary. “Everyone has a trigger, and it’s important to face it to avoid it and prevent it from destroying your financial gains.”

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Credit Card Debt Bankruptcy Lender Student loans 75

Better Credit Blog

DECEMBER 31, 2020

While VCTRSSEC might sound unfamiliar, it represents a popular retailer: Victoria’s Secret. Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers. Bankruptcy. If so, you may be wondering how it got there and what it means for your credit score.

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Banks Retail Lender Repossession 89

True Accord

OCTOBER 10, 2023

Other balances, including retail credit cards and other consumer loans, and auto loans also increased by $15 billion and $20 billion, respectively. This has started showing up as roughly 114,000 consumers had a bankruptcy notation added to their credit reports in Q2, slightly more than in the previous quarter. trillion in Q2, a 4.6%

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Student loans Student Loans Loans Personal loans 110

Burr Forman

FEBRUARY 15, 2021

SlideBelts is an internet retail company and debtor in bankruptcy. The US Department of Justice announced the first civil settlement involving allegations of fraud against a PPP borrower. SlideBelts Inc. received a PPP loan under the CARES Act.

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Government Financial Institution Loans Retail 52

UK debt collections

FEBRUARY 23, 2023

A local council in Surrey has signalled it is close to effective bankruptcy after amassing debts worth almost £2bn to fund a property investment spree, raising fresh questions over the fragile health of local authorities after years of austerity.

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Government Bankruptcy Retail 59

Better Credit Blog

JANUARY 21, 2021

General Electric Capital Retail Bank, abbreviated as GECRB, is the former name for Synchrony Bank, and it’s probably on your report because you applied for a Synchrony card at some point in the past. The bank partners with numerous retailers to offer rewarding credit cards to shoppers. Ask Lex Law for Help. File a Dispute. Charge offs.

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Retail Banks Loans Repossession 52

Debt RR

DECEMBER 13, 2019

Businesses that file for Chapter 11 bankruptcy have all of their affairs (debts, assets, or otherwise) reorganized by a judge. It’s a last-ditch effort to avoid a Chapter 7 liquidation bankruptcy. Retailers Gymboree, Charlotte Russe, Payless, Roberto Cavalli, and Diesel filed Chapter 7 bankruptcies in 2019.

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Chapter 7 bankruptcy Bankruptcy Creditors Retail 42

Credit Corp

OCTOBER 12, 2021

Only with a strong budget, entrepreneurs can hope for the following: Minimizing bankruptcy risks Avoid problems with suppliers Have an effective entry into new markets. If this is overlooked, the risks of bankruptcy increase, since the business is not sustainable. Beginners should meticulously calculate such indicators.

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Startups Bankruptcy Retail Loans 81

Collection Industry News

JUNE 7, 2021

Private label credit card performance will continue to be hampered by the bankruptcies of some large partner retailers, tied not only to the accelerated surge in e-commerce in the wake of COVID-19, but to the longer-term trend of mall closings since 2010. Also factoring in are the changing payment preferences of Millennials and Gen Z.

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Retail Bankruptcy Banks Collections 40

PBWT

JUNE 23, 2020

and most of its affiliates filed for bankruptcy on May 22, 2020. This was just one corporate failure among many in the midst of the COVID-19 pandemic; but, a novel strategy by Hertz to raise capital to fund its bankruptcy has raised eyebrows instead. per share the first trading day after the bankruptcy case was filed.

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Debtor Bankruptcy Retail Trade 40

Roths Child Law

NOVEMBER 29, 2023

That’s just the way that the credit card companies and retailers like it The entire holiday shopping season is designed to subtly (or overtly) pressure consumers into buying more. About half (52%) of the consumers in this nation racked up some credit card debt during the 2022 holiday season, and 31% still haven’t paid those bills off.

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Credit Card Debt Retail Bankruptcy 52

Better Credit Blog

AUGUST 7, 2020

If you’ve come across the name SYNCB on your credit report, it’s probably because you applied for a credit card with the bank or one of its popular retail partners. The online bank is known for its extensive lineup of credit cards for popular retailers, including: Amazon. What Is SYNCB? American Eagle. Ashley Furniture. Charge offs.

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Retail Lender Debt collector Banks 52

Troutman Sanders

MARCH 10, 2021

This case was brought on behalf of a class of 72 female sales professionals employed by clothing retailer John Varvatos Enterprises, Inc. In the meantime, Varvatos declared bankruptcy, though the bankruptcy court lifted the automatic stay as to the case. Varvatos moved for judgment as a matter of law, a new trial, or remittitur.

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Collection Industry News

AUGUST 1, 2023

For instance, Company X, a manufacturing firm, found itself facing financial difficulties when one of its major clients filed for bankruptcy, leaving them with a substantial amount of unsold machinery and equipment. A prime example is Retailer Y, which accumulated surplus inventory due to overestimating demand for certain products.

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Debtor Retail Startups Manufacturing 40

UK debt collections

JULY 24, 2024

EU Late payment proposal Spokesperson Johanna Bernsel says the Commission “stands behind its proposal for stricter rules to combat late payments” and continues to believe a new payment framework is needed for commercial transactions. “Late payments are a major problem for Europe’s SMEs and a cause of many bankruptcies among small companies.

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Trade Retail Banks Bankruptcy 59

Better Credit Blog

OCTOBER 16, 2020

Retail debt. These companies are well-equipped to take on messy credit situations, helping you through the legal and financial consequences of events like bankruptcy or identity fraud. It is also connected to Encore Capital Group. Asset Acceptance LLC’s home office is in Troy, Michigan. Credit card debt. Utility bills. Troy, MI 48083.

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Debt collector Collection Agencies Collections Agency Credit Card Debt 94

Collections Law

NOVEMBER 4, 2021

This works best when your debtor is a cash-heavy business, such as a retail store or restaurant. This might be especially helpful if the customer heads into bankruptcy, which could make collections much more difficult. The keeper has a court order to collect the cash that comes into the business until the debt is fully collected.

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Better Credit Blog

DECEMBER 31, 2020

Whenever you apply for a retail credit card, it can lower your credit score by a few points and result in a new entry being added to your report. Citi is a popular bank that provides credit cards for a wide range of retail stores like The Home Depot. Bankruptcy. Did a hard inquiry from THD/CBNA bring down your credit score?

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Retail Lender Loans Repossession 52

Better Credit Blog

NOVEMBER 17, 2020

The bank also partners with 25 companies to offer rewards credit cards across different industries, including entertainment, travel, and retail. They’re experts at dealing with a long list of credit issues, such as: Bankruptcy. Some of Barclays’ credit card partners include: American Airlines. Barnes & Noble. Diamond Resorts.

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Personal loans Loans Banks Foreclosure 75

UK debt collections

JUNE 10, 2022

Leading online UK fast-fashion retailer Missguided has been served with a winding up petition due to unpaid debts. Several online and high-street stores have been considering launching takeovers of Missguided, with JD Sports, Asos, Shein, Frasers Group and Asda all contemplating making bids, according to Retail Gazette.

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Retail Creditors Repossession Manufacturing 52