Source: Company, Subsidiary of co-working space provider IWG Plc in Texas with $1.0B estimated assets, Off-price retailer in Florida with $757.5M estimated assets, A Stein Mart store in Miami on Aug. 12, 2020. But also oil producers, mall landlords, and a helicopter tour operator. "We had to tell 4,500 people: we're not letting you go but we need to put everything on pause. Alaska is twice the size of Texas but with few roads and many remote villages that can be reached only by airplane. Share this page "March 2020 liquidation notices" Email this page; Print this page; March 2020 liquidation notices. Companies can also use bankruptcy as an opportunity to turn things around financially. The executives packed their bags, shut the plant and left the country. The new work-from-home reality has rocked the shared-office space market. This resulted in everything from outright liquidation to financial reshuffling. Since early March, at least 334Â companiesÂ have cited Covid-19 as a factor in their decision to file for bankruptcy, Helicopter charter company in New York with $100.0K estimated assets, U.S. unit of Italian leather goods company in New York with $10.0M estimated assets, Owner of luxury leather goods store T. Anthony in New York with $1.0M estimated assets, Luxury tour bus company for the entertainment industry in Tennessee with $1.0M estimated assets, Chain of candy stores in Florida with $1.0M estimated assets, ItâSugar in Santa Monica, California. A patchwork of other regional airlines stepped in to take over some Ravn routes and business. âSo when it didnât happen there was a real liquidity crunch.â. The listings included on this page are of companies that have gone into administration, CVA or liquidation. The company was forced to surrender its office space on Madison Avenue and âdramaticallyâ reduce orders for new merchandise, according to bankruptcy court papers. Elton John. âBefore mid-March, we were on track to have a record year,â Paul Sumrow, the companyâs owner, said in an interview. The company has been a Manhattan mainstay since 1946, and founder Theodore Anthony Froitzheim made a name for himself supplying custom bags for the Duke and Duchess of Windsor, according to the companyâs website. It estimated liabilities of $10 million to $50 million in court documents. The New York-based firm took steps to shore up liquidity like furloughing workers and asking for rent deferrals before filing for bankruptcy to re-work its borrowings. since. Specialtyâs sandwiches, salads and pastries had become a staple for thousands of office workers in downtown San Francisco and across the Bay Area. Ravn Air Group, the biggest regional carrier in the state, saw passenger revenue drop by 90 percent. Companies Act. as well as other partner offers and accept our, Holly Hildreth / Contributor / Getty Images, Photo by Mel Melcon/Los Angeles Times via Getty Images, Michael Brochstein/SOPA Images/LightRocket via Getty Images, Alex Tai/SOPA Images/LightRocket via Getty Images, Jeffrey Greenberg/Universal Images Group via Getty Images, Denise Truscello/Getty Images for ITSUGAR. Read more via @business https://t.co/g7o7BTf51i pic.twitter.com/Av3J6cQWah, âWe had to tell 4,500 people: weâre not letting you go but we need to put everything on pause.â Hereâs how the Covid-19 pandemic bankrupted 55-year-old Goldâs Gym. It is only a snapshot of the thousands of corporate entities that have landed in bankruptcy court since the pandemic took hold in March. Cost overruns and disappointing sales, combined with financial challenges at the Austrian parent, had forced executives in the U.S. to consider a bankruptcy filing or a liquidation. Professionals paying for a small corner in a big office tower went home and companies that temporarily rented out entire floors canceled their contracts. Itâs also sold off assets, but the efforts were unsustainable without help from lenders and bankruptcy protection, the company said in court papers. Register to bid on pallets and truckloads of appliances, bikes, apparel, sporting goods, home goods, toys, and TVs. âWe had to tell 4,500 people: weâre not letting you go but we need to put everything on pause.â Hereâs how the Covid-19 pandemic bankrupted 55-year-old Goldâs Gym. Companies Act. A dispute with Ucannâs largest creditor, who tried to attach some of the companyâs assets, eventually precipitated the bankruptcy filing on April 20. So the National Collegiate Athletic Associationâs decision to cancel the event because of Covid-19 was a major blow. Publication Date 3 Dec 2020: Advertisement of Application for Putting Company into Liquidation. Public Notices. People came for breakfast, lunch and company. The four-mile, seven-stop train system stopped running on March 18, and the non-profit that runs it laid off almost all staff. The 102-year-old retailer of womenâs workwear filed for bankruptcy with plans to shut a significant portion, if not all, of its stores after the pandemic drove off customers. Account active Adventurous tourists wanting an aerial view of New York can hire an Awesome Flight chopper to circle Central Park and downtown Manhattan. Assets of at least $10 million were listed under The LASIK Vision Institute. But thrifty shoppers will soon have to search elsewhere for deals after the off-price retailer filed for bankruptcy Thursday with plans to permanently close its 13 stores. It called its brands âthe latest victims of the retail apocalypse.â. The official B2B liquidation auction marketplace for Walmart Liquidation, offering bulk lots of Walmart.com returned and overstock merchandise. Quicklotz is one of the leading wholesale liquidation firms based in New York and Miami. "Here's how the #Covid19 pandemic bankrupted 55-year-old Gold's Gym. With most of its sales dependent on travel and tourism, the chain of specialty candy stores has been unable to recover since it was forced to shut its roughly 100 stores in March. Here's a list of the retail companies that have filed for bankruptcy so far in 2020: The entire fleet of Papyrus stores was slated to shut down when the chain's parent company… The chain said a unit of its owner will provide it with financing to keep stores open during the reorganization and that it expects to be in a better position to navigate the pandemic once it emerges from Chapter 11. But just as its peak season was about to kick off, states including Texas banned large gatherings, shut down schools and asked residents to stay at home. Insurers came to Century 21âs rescue once before, in the aftermath of the Sept. 11 terrorist attacks that heavily damaged its location across the street from Ground Zero. And then thereâs Goldâs Gym, the fitness chain that furloughed almost 4,600 employees after the lockdowns. Updated Sep 4, 2020 A liquidation sale at closed Mall of the Bluffs is gearing up Saturday, according to The Auction Mill, the Omaha company hired by Menard Inc. … +3 Walker, who led the XFL in touchdowns before the shutdown, signed with the NFLâs Carolina Panthers for a reported two-year $1.6 million contract. Original review: Nov. 30, 2020. They tried to borrow about $350,000 through the Paycheck Protection Program, but computer problems at their bank spit out the application before it could be processed in time to qualify. List Of Retail Companies On Bankruptcy Watch Is Growing Fast Amid Coronavirus Crisis ... 2020 in Paramus, New Jersey. ... ©2020 Company Rescue is a trading name of KSA Group Limited. The guide and bonuses total a whopping 270 Pages of hard earned knowledge that will help unravel the often misunderstood industry of pallet and truckload sourcing.. I’m willing to share my experience withing the pages of the Liquidators Guide. In dealing a blow to the global economy, the pandemic depressed sales of CBD, industrial hemp and derived products, leading to more job losses. Most will try to reorganize and emerge from court smaller and less-indebted, as companies like preppy retailer J. In recent years, the company had relied on celebrity collaborations with the likes of Gabrielle Union, Kate Hudson and Eva Mendes to help drive sales among its core customer base of 25-to-49-year-old women. The walls were lined with jerseys and other memorabilia. âThey would not have been able to survive in the Florida Mall. For almost two decades, Bounce For Fun helped churches, schools and homeowner associations make their parties memorable for kids. They have since sold their house and moved to Southern California looking for a fresh start at a time when they had expected the diners to subsidize their retirement. A leading-edge research firm focused on digital transformation. But as the coronavirus pandemic roils the industry, more major retailers and restaurant chains have now filed for bankruptcy in the first nine months of 2020 than all of 2019. The move left business owners Bruce Galicia and Diana Viera stuck with a $16,000 monthly rent bill and no customers. U.K.-based IWG is one of the biggest co-working space providers in the world and its Regus unit has more than 1,000 locations in the U.S. and Canada. These are some of the more than 330Â companiesÂ that declared bankruptcy in the U.S. this year and blamed Covid-19 in part for their demise. Check if a company is being wound up (liquidated) - you’ll need the company’s name or registration number to carry out a search. Subscriber Billionaire New York real estate mogul Charles S. Cohen, who also owns Harrys of London, purchased T. Anthony in 2018. The list compiled for this story is based on court records, statements and interviews in which business owners or their lawyers explicitly linked the virus to their decision to file. The company had its strongest-ever year of worldwide growth in 2019, but the coronavirus, social distancing and gym closures hit its business like a 500-pound dumbbell. 2020-aw5432 Preview. Company Name Status Region Sector SIC Codes; RENT A CAR 4U LIMITED: Dissolved: Lancashire: Realestate: 7110: ACCUBEAM CONTRACTS LTD: Dissolved: City of Bristol: Construction Source: Bounce For Fun, Craft fair operator in Maryland with $0.5M estimated assets, Diner owner in California with $50.0K estimated assets, Bakery chain in California with $50.0K estimated assets, A box of cookies from Specialtyâs location in downtown Los Angeles. The Nashville, Tennessee-based firm has pivoted by making its vehicles available for other uses. A local government agency plans to buy the monorail out of bankruptcy for just $24 millionâa pittance compared to the $650 million of municipal bonds sold to finance its takeover and expansion in 2000. But one special high school event wonât have a page in many of their yearbooks: prom. Some, like opioid-maker Mallinckrodt and a number of Catholic dioceses, filed primarily to get relief from huge lawsuit liabilities but also said the pandemic contributed to their financial woes. The list of U.S. companies that blamed Covid-19 for helping to push them into bankruptcy has grown to more than 330. Allegations of sexual abuse had been piling up for decades, leading to the removal of dozens of priests and deacons, according to a report the Archdiocese released in 2018. The Liquidators Guide is a step-by-step, comprehensive resource for resellers who want to tap into the profitable liquidation merchandise industry. But revenue came to a grinding halt when the pandemic forced fans to stay home and venues to shut down. Registration 3316444 Trading Address: 99 Bishopsgate, London, EC2M 3XD Tel: 020 7887 2667. With some of its leases running more than $30,000 a month, the company saw no choice but to shut its doors for good. Forced to close their doors, the couple furloughed 50 of their 65 employees and tried to offer takeout. The Florida sawmill eventually filed for bankruptcy protection on April 30. Most locations are organized as separate companies, which allows Regus to put them in court protection individually. But the companyâs U.S. unit saw its sales plunge 67% when the pandemic forced stores closed. T. Anthony plans to use Chapter 11 to get fresh financing for its online business and new store, just steps away from its old Park Avenue location in Manhattan. The rushed shutdown left the sawmill with no security guards or insurance. Some school districts rejected contracts and stopped paying ABA, which serves Nassau and nearby counties under units including Baumann Bus Company, Baumann and Sons Buses, ACME Bus Corp. and Brookset Bus Corp., according to court documents. Visit Business Insider's homepage for more stories. LIP Inc. estimated assets combined with two affiliates being jointly administered, LIP II Inc. and LIP III Inc. The company is now planning to sell itself to German fitness company RSG Group GmbH for $100 million after it won a court auction. But diner food is comfort food, Andrews said. As fears of Covid-19 spread in mid-March, some towns and villages around the state barred passenger flights into their communities. Estimated assets of more than $50 million for SAExploration were listed in the petition of its SAExploration Inc. entity. Photographer: Joe Raedle/Getty Images, School bus company in New York with $50.0K estimated assets, LemonShark Poke franchise owner in Florida with $100.0K estimated assets, Prom-dress retailer in New York with $1.0M estimated assets, Womenâs apparel retailer in New York with $405.4M estimated assets, A closed New York & Co. store in Silver Spring, Maryland, on June 5, 2020. Its newly appointed chief restructuring officer later would explain to the court that the entire management team and various engineers had returned hastily to Europe âin order to avoid a dangerous health situation in the U.S. and potential long-term travel restrictions.â. It listed assets and liabilities of between $100 million and $500 million. Nov 25 2020, 7:50 PM Nov 25 2020, 7:50 PM November 25 2020, 7:50 PM November 25 2020, 7:50 PM The bankruptcy regulator wants to give companies that have voluntarily sought liquidation an opportunity to change their mind. Even as its locations gradually reopened in recent months, the company couldnât get significant rent abatements and deferrals from its landlords, leaving it in default on nearly half of its leases. Then the statewide closure of bars in mid-March, on top of a long-running landlord dispute, led Two Keys and its owner Seth Bennettâs Sethco LLC into bankruptcy court in July after more than 66 years in business. Noah's Event Venue, a chain offering spaces for various gatherings, technically filed for bankruptcy … The running list of 2020 retail bankruptcies The pandemic has ushered in a wave of bankruptcies as retailers struggle to pay rent, vendors and other expenses. The company is dealing with falling revenue and long-term leases that donât reflect âCovid-19-adjusted market realities,â it said in court papers filed last month. The company is trying to renegotiate leases to keep its troubled co-working centers operating even though it doesnât know âwhen (and indeed, whether) the U.S. will return to something resembling the pre-pandemic âbusiness as usual.â. The discount retailer survived early pandemic lockdowns, but was hobbled by a recent surge in cases in California and much of the southern U.S., forcing it to file for bankruptcy on Aug. 12. âThe resurgence of Covid-19 cases in the Southeast, Texas, Arizona and California, where the majority of the companyâs stores are located, again materially, adversely impacted the companyâs revenueâ in July 2020, Chief Executive Officer D. Hunt Hawkins said in court documents. Foreign companies with U.S. entities that have filed for bankruptcy in the U.S. are also included. âWe were hemorrhaging so much money, I just couldnât do it anymore,â Andrews, 67, said in an interview. Some had billions of dollars in assets. Sign up for Insider Retail. New Jersey governor Phil Murphy ordered all … A representative for Awesome Flight and the companyâs attorney didnât respond to requests for comment. Covid-19 âwas the proverbial ânail in the coffinââ for RTW Retailwinds, owner of apparel chain New York & Co. How the @xfl2020 went from launching a promising new sports league to bankruptcy in just 2 months due to #Covid19.Read more @business: https://t.co/4cx5N9Q5jF pic.twitter.com/P6a6Emz0os, How the XFL went from launching a promising new sports league to bankruptcy in just two months due to Covid-19. Pier 1 Imports started its going-out-of-business closing sale May 22, ahead of Memorial Day. âWith no cash flow coming in, even a well-managed company cannot survive indefinitely.â. Customers at the upscale Florida Mall in Orlando once flocked to the shopping centerâs LemonShark Poke outpost, crafting custom bowls of raw tuna or salmon to fuel up between visits to Apple or Zara. Flyest (Argentina) A small airline that operated mainly between Buenos Aires and Montevideo as well as a couple of domestic destinations in Argentina with CRJ200 aircraft. The majority of websites listed here work in this way. Others had only a handful of employees on payroll. On a typical day, its Mountain View location would be packed with tech workers from nearby companies including Alphabet Inc.âs Google and Samsung Electronics Co. Dec 1, 2020 4:36AM EST Credit: REUTERS/LEE SMITH British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday. Its wholesale business also took a beating when customers like department stores also shuttered. For those, the higher value is used. Now the company hopes to sell itself to another buyer in an auction next month. Companies Act. Their downfall might not normally garner much attention, but it does underscore the full extent of the damage Covid-19 has inflicted on the economy. Steve Andrews was a general contractor who built eateries for other people before he and his wife, Debbie, ran two of their own in Northern California. Furla USA had most of its shops reopened by the summer, but eight were forced to close a second time amid a resurgence of the virus. That time of year accounts for roughly 70% of the companyâs annual sales, according to court documents. The premature demise of the league wasnât bad news for everyone, though. In the meantime, fans of ItâSugarâs gummy creationsâbears, worms, even pizza slicesâare welcome back to the companyâs 22,000-square foot department store in New Jerseyâs American Dream Mall, which reopened in October. Its 11 annual festivals, which featured demonstrations and hands-on workshops, ground to a halt in March as social gatherings were banned. ItâSugar had just $500,000 in cash and over $16 million of liabilities by the time it filed for bankruptcy at the end of September. One Day Liquidation Estate Flash Sale - Council Bluffs estate sale • 1 day sale • sale is over Address The address for this sale in Council Bluffs, IA 51503 will no longer be shown since it has already ended. 2020-aw5525 Preview. Then came Covid-19. The register includes details of the persons insolvency status, is free to use and can be searched by name and/or date range. The owner of the Ann Taylor and Lane Bryant chains is now considering closing more than 1,000 stores. As it prepared to file bankruptcy, McMahon lent the company $9 million with its assets as collateral, but he withdrew his bid to buy it out of bankruptcy in time for the 2021 season after other creditors complained. By Retail Dive Team Like more than 20 other U.S. church districts that have sought bankruptcy protection to settle such claims in an orderly way, the Archdiocese - with roots that predate the 1718 founding of New Orleans -Â filed for Chapter 11 on May 1. A number of retailers and restaurant companies have filed for bankruptcy in 2020. In a bittersweet ending to its three-decade history, Specialtyâs gave away frozen dough for some 180,000 cookies to customers who showed up at its Redwood City warehouse. When a company enters liquidation, the decision has been made for the business to cease trading and the legal entity will be dissolved. But RTW conceded in court papers that it had struggled for years to weather changing fashion tastes and declining foot traffic in malls. List of shops that have collapsed into administration in 2020 as UK lockdown hits high street. The company quickly ran out of money and filed for bankruptcy in early April, sparking alarm that the rural villages on its routes would be stranded without medical care, mail service and other supplies. For Vista Proppants and Logistics LLC, assets of at least $100 million are listed under the related entities Lonestar Prospects Management LLC and Lonestar Prospects Ltd. Awesome Flight is seeking to jointly administer the cases. The U.S. counsel resigned after being left with unpaid invoices. It had reopened all its stores by June 15. For John Barrett Inc., assets of at least $1 million are listed under a related entity, Mezz57th LLC. It does not track a companyâs progress through or emergence from bankruptcy proceedings. The company tried to keep desks filled by offering discounts and other incentives, but it hasnât worked, according to court papers. For Occasion Brands, a retailer that depends on that one night to drive nearly three-quarters of its revenue, the pandemic couldnât have come at a worse time. For almost two decades, Diamond Coach Leasing provided transportation to the stars, ferrying celebrity concert headliners and other artists in luxury buses as they criss-crossed the U.S. âThe heightened stress, anxiety, fears and social isolation in this unprecedented time has prompted more patients and their families to seek treatment, pushing demand for our services higher,â he said in a statement announcing the bankruptcy. Regus and its parent, IWG, are not in bankruptcy. Publication Date 3 Dec 2020: Advertisement of Application for Putting Company into Liquidation. Goldâs closed about 30 gyms when it couldnât renegotiate the leases with landlords, abandoning some equipment, and found other locations where members of its shuttered facilities could go to work out. The mayor of the borough covering 95,000 square miles across the stateâs far north tried to commandeer Ravn assets to ensure residents had food, medical transport and supplies but was blocked by the state attorney general. ... KPMG was appointed as administrator and the business is expected to be liquidated, according to the CRR. But the pandemic transformed the charter flight business as tourism slowed, even while demand for small-scale flights remained. 11/12/2020: Construction: Hampshire-11/12/2020: Accommodation And Food Service Activities: Mid Glamorgan: £6,271: 11/12/2020: Professional, Scientific And Technical Activities: Leicester-11/12/2020: Construction: N/A-11/12/2020: Financial And Insurance Activities: N/A-11/12/2020: Professional, Scientific And Technical Activities: N/A-11/12/2020: Education: West Midlands: £14,007 That was bad news for ABA Transportation, which owns several bus lines that ferry children around Long Island. âNo single factor caused more harm to the debtorsâ business than the current Covid-19 pandemic,â the company said in a court filing when it furloughed almost 4,600 employees and declared bankruptcy. ABA filed for Chapter 11 bankruptcy in the Eastern District of New York on Aug. 3. Giant gummy bears and candy-scented hand sanitizer couldnât help ItâSugar get through the pandemic. Updated: 8 December 2020 14.21 (refresh your browser for the latest version) The following list is subject to change until 4.30pm. The retailer employed about 9,000 people as of Feb. 1, but furloughed âa significant numberâ of employees in March, according to court documents. The store was even memorialized in Sex and the City when Carrie Bradshaw declared the chainâs Lower Manhattan flagship âthe best part of jury duty.â. But as Covid-19 began to spread throughout America, those plans were quickly thrown out the window. Quicklotz. Even after slashing expenses and cutting the pay of remaining employees, Las Vegas Monorail Co. was almost completely out of cash by the time it filed for bankruptcy on September 7. How the XFL went from launching a promising new sports league to bankruptcy in just two months due to Covid-19. Photographer: Angela Weiss/Getty Images, Off-price apparel chain in New York with $100.0M estimated assets, Monorail company in Nevada with $10.0M estimated assets, A train on the Las Vegas Monorail on August 17, 2013. By early 2020, Klausner Group, a lumber producer based in Austria, was already running out of options to salvage its sawmill in Live Oak, Florida. The bankrupt company was laterÂ approved for $30 million in federal coronavirus-relief funds andÂ in early July it sold many of its planes and assets to other aviation companies. The bankruptcies include plenty of iconic names. Jackie Kennedy Onassis. Many were in deep financial trouble even before governors ordered non-essential businesses shut to help contain the spread of the virus. Awesome Flight filed for bankruptcy Dec. 2, along with its owner, who listed the company as one of his largest creditors and said the pandemic has ânegatively affectedâ his income and expenses. Regus has loaned the offices more than $400 million to get them up and running. Their insurance company rejected their claim for damages, even though they had paid for loss-of-income coverage. âWeâve survived through wars, recessions, terrorist attacks, political upheaval, hurricanes, tornadoes, blizzards and more,â the company wrote on its website as it announced it was shutting down. Photographer: John Raoux/AP Photo, Medical hemp company in Colorado with $1.0M estimated assets, Professional sports league in Connecticut with $10.0M estimated assets, An XFL game in Houston, Texas, on Feb. 8, 2020 . Some of the companies, which Grimmel oversees as a liquidator include Cheney Pelmets (Private) Limited, Laputa Trading (Private) Limited, Tadnet Investments (Private) Limited, Riverside Funeral Services (Private) Limited, and Retnim Pumps Importers & Maintenance (Private) Limited. Employees who had learned they would no longer need to show up for work sued the company, alleging they werenât given enough notice and hadnât received their final paychecks. It even offered a 24-foot rock-climbing wall and a trackless train. While its stores in tourist-heavy outlet malls in New York and Hawaii were performing well, locations that relied more on local shoppers had faltered, the company said. So goes the client roster of T. Anthony, a posh Manhattan luggage-maker forced to shut its Park Avenue store and furlough all but one employee before filing for bankruptcy. Ruby Tuesday and Guitar Center and now Francescaâs, the mall mainstay specializing in womenâs clothing and gifts. Takeout didnât work. The biggest stories in fast food, shopping, and more. Photographer: Joe Magnano, Fitness chain in Texas with $50.0M estimated assets, Goldâs Gym in Venice, California, on Oct. 30, 2000. Any alterations after this time will be telephoned or emailed direct to the parties or their legal representatives. More than 6,300 stores are closing in 2020 as the retail apocalypse drags on. Here's the full list. Here's a list of the retail companies and restaurant chains that have filed for bankruptcy so far in 2020: Source: Associated Press, Business Insider, Supermarket News, Source: Business Insider, Business Insider, Source: Business Insider, Business Insider, Pittsburgh Post-Gazette, Source: Business Insider, Chain Store Age, Source: Associated Press, Business Insider. Applications for Winding up/Liquidations. The coronavirus pandemic has accelerated the demise of companies that were already in ... filed on July 13 and has begun liquidation sales as it … Art Van Furniture LLC and Declaration Brewing Co. had filed for Chapter 11 reorganizations before the pandemic. For nearly 60 years, bargain-hunting New Yorkers and tourists flocked to Century 21 Department Stores in search of deep discounts on designer wares from the likes of Marc Jacobs, Versace and Fendi. Crew and oil producer Denbury Resources have already done. Retired Merchant Marine veteran Joe Gold launched his fitness empire in a rough cinder-block building near Muscle Beach in Venice in 1965 with weight-lifting equipment he built himself. T. Anthony, whose offerings range from $65 passport covers to $17,000 alligator bags, saw sales collapse after the pandemic curtailed personal travel and kept businesspeople at home. Since the end of July, co-working company Regus has put more than 100 of its U.S. properties into bankruptcy under its RGN-Group Holdings unit. Source: Seth M. 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