Bankruptcy news and archive

Rental platform CaaStle files for bankruptcy amid fraud controversy

CaaStle Inc. has descended into bankruptcy, a new court filing has revealed, months after its former chief executive officer, Christine Hunsicker, was accused of fraud. The rental platform has filed for Chapter 7 bankruptcy in the District of Delaware, and is further preparing to liquidate its business. The petition, filed as case number...

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Sustainable fashion brand Hemper enters liquidation

Sustainable fashion brand Hemper has filed for creditor bankruptcy and liquidation due to insolvency. The Madrid-based company also presented a bid for the acquisition of some of its assets. In an official statement released June 16, 2025, Hemper’s management announced the company's bankruptcy filing. The sustainable fashion and accessories...

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Israeli firm MySize buys Spanish resale platform Percentil

Madrid – Spanish second-hand clothing platform Percentil has been saved from liquidation by its acquisition out of bankruptcy by Israeli technology company MySize. MySize, specializing in measurement services and AI-based solutions, aims to become a leading player in the European second-hand fashion sector, encompassing both C2C (Consumer to...

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Forever 21 expected to close all 354 US stores on May 1

Forever 21 is officially shutting its doors. The fast fashion retailer is believed to be preparing to close all of its 354 US stores today, May 1. This is according to court documents obtained by USA Today. The company’s operator, F21 OpCo, had been given until April 30 to find a buyer for the brand, however, no such party has stepped forward....

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Hudson’s Bay to liquidate remaining seven stores

Department store group Hudson’s Bay Company has confirmed that it plans to liquidate its remaining six own brand stores and one Saks Fifth Avenue location. The company deduced that a viable bid for the six-store model was now “unlikely”. From April 25, the remaining stores will therefore join 73 Hudson’s Bay sites, 13 Saks Off 5th locations and...

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Frank and Oak brings forward US store closures amid tariff ‘uncertainty’

Canadian retailer Frank and Oak has confirmed plans to close all of its stores across the US as part of an ongoing liquidation process. In a statement on its website, the company said operations in the region will shutter by the end of April 2025. This is an earlier date than planned. According to Frank and Oak, the shuttering “was moved up due...

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Forever 21 holds mass liquidations sales across all US locations after filing for bankruptcy

Former fast-fashion giant Forever 21 is currently running mass liquidation sales across all its US store locations and online following its recent bankruptcy filing. The news comes days after F21 OpCo LLC, Forever 21's US branch operator, filed for bankruptcy. Once an iconic North American fashion chain that aimed to bring the latest trends to...

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Hudson's Bay moves towards liquidation due to financial challenges

Canadian retail group Hudson's Bay Company, North America's oldest corporation, which includes retail company Hudson’s Bay, comprising 80 stores and TheBay.com, will begin a store-by-store liquidation process as early as this week after failing to secure sufficient financing to proceed with a restructuring plan. The Toronto-based department...

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Hudson’s Bay seeks bankruptcy protection amid financial challenges

Hudson’s Bay, Canada’s oldest retailer, has filed for creditor protection as it moves to restructure its operations in response to mounting financial pressures. The department store chain, founded in 1670, cited economic headwinds, post-pandemic shifts in shopping patterns, and trade tensions with the U.S. as key factors behind its decision. The...

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Forever 21 to reportedly shutter Los Angeles headquarters

US fashion retailer Forever 21 is believed to be preparing to close its Los Angeles corporate headquarters ahead of a potentially incoming bankruptcy filing, which could also result in the shuttering of 200 stores. According to a regulatory filing with the California Employment Development Department, seen and initially reported on by Los...

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Forever 21 reportedly closing 200 stores amid second bankruptcy

Fast fashion retailer Forever 21 is believed to be on the verge of closing 200 of its stores as its operator in the US, F21 OpCo, prepares for the launch of a bankruptcy process. According to sources for Bloomberg News, this process will start next month, during which it is understood that a buyer will also be sought for the retailer’s remaining...

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Former Billabong US operator Liberated Brands files for bankruptcy

Liberated Brands, the former operator of Quiksilver, Volcom and Billabong, has filed for Chapter 11 bankruptcy protection in a Delaware court, to which it revealed plans to wind down North American operations. Having previously operated brands under a licensing deal with Authentic Brands Group, Liberated has confirmed that it has been...