Big Lots reported declining revenues and increased debt. It expects to close dozens of stores during 2024.
The Des Moines Register’s Post
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More retailers in pain but the same symptoms of overloading debt for most on this list. Seeing retailers that took Covid and sales increases and were not able to manage the results for responsible growth on this list. Hopefully these retailers can find a way back but to see several operating without CEO’s during a period of turnaround doesn’t provide positivity on their positions. #retail #retailers #bankruptcy
11 retailers at risk of bankruptcy in 2023
retaildive.com
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Corporate insolvencies in the retail sector have surged by 56% in the past year, reaching the highest levels in almost a decade. The pandemic, the rise of e-commerce and changing consumer preferences, to list but a few, have posed challenges that tested retailers' resilience. As the aftermath of Wilko's collapse unfolds, many struggling businesses continue to look for new ways to adapt. Rebecca Stratton looks into recent statistics from the Insolvency Service👉 https://ow.ly/ufZz50PL7cH #DisputeResolution | #Insolvency | #Retail
Unpacking Retail Insolvency Statistics
disputeresolution.howardkennedy.com
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Recent high profile retail insolvencies highlight how challenging the past year has been for the sector, however not all retail businesses are suffering equally. The statistics may paint a gloomy picture but there are reasons for (some) retailers to be optimistic about future trading conditions. #insolvency #retail
Unpacking Retail Insolvency Statistics
disputeresolution.howardkennedy.com
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⚠ A few months after a sale-and-leaseback, Big Lots is looking for liquidity as they are keep burning cash. They have appointed AlixPartners to support them through the process 🔻 Another example of how bad the home goods retail environment is right now #creditrisk #riskmanagement #creditinsurance #retail #biglots #creditmanagement
Discount Home Retailer Big Lots Seeks Cash During Ongoing Losses
finance.yahoo.com
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Interest rates are too high? Don't ask Retail Giants like Walmart or Aldi When you do $600 Billion in revenue, you don't have to rely on capital markets to finance expansion... Smaller retailers, however, are finding it difficult to seek growth due to (Relatively) high borrowing costs Many are on the sidelines game planning for the future or finding creative ways to finance expansion Nobody knows if/when rates will come down, so the question remains: How do the little guys keep up? https://lnkd.in/ebVxENDU
Major retailers sustain capital expenditures despite higher interest rates
retailbrew.com
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Especially during these times of financial struggles, it's surprising to hear that discount retailers are closing down. A recent article shed light on the challenges faced by Family Dollar and 99 Cent Stores due to missed opportunities in meeting consumer needs. Now, these corporations are looking to right-size their business. As America's wallet remains strained, it's crucial for companies to prioritize understanding their consumers' needs. Make sure your company is thinking about the consumer first and foremost. Check out the article here: https://lnkd.in/e-5FPimr
Dollar stores are shutting down across America. They did this to themselves | CNN Business
cnn.com
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🔔 A quick guide on a Rights Offer 📌 A common corporate action that allows companies to raise capital 📌 Shareholders are offered the chance to purchase additional shares at a discounted price 📌 Options: take up the rights, decline them, or trade them on our platform Check out this blog to learn more and 𝗰𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝘁𝗮𝗸𝗶𝗻𝗴 𝗮𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲 of available Rights Offers like Pick n Pay. https://lnkd.in/dFRG3CnS 💡FYI: The "last day to trade" is today-you must be holding Pick n Pay shares by end of day to be eligible! #EasyBlogs | #EasyEquities
The retailer will offer 252.2m shares at R15.86 each, which is 42% less than the closing price on 10 July. #Moneyweb #CompanyNews https://ow.ly/VCfb50SzoXQ
Pick n Pay sets out R4bn offer terms in retailer revamp
moneyweb.co.za
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More turbulence in retail - this time hitting the arts & crafts world. 🎨 According to recent data, Joann Fabrics may be the next retailer facing restructuring or bankruptcy. 😳The 80-year-old chain operates over 800 stores but is struggling with high debt and rising interest rates. Joann's sales dropped 2% last quarter while losses swelled to $73 million. 📉 With only $19 million in cash, the company is clearly under strain. Meanwhile, suppliers are cutting back on credit. Joann's inventory turnover slowed to 1.8x, down from 2.4x last year, a worrying sign. 🚨 Without enough product on shelves, sales and cash flow take a hit. Situations like this show the value of credit insurance from @Coface. Policies like Tradeliner help protect against non-payment by customers. 💸 This stabilizes cash flow when it's needed most. For retailers balancing debt loads, trade credit insurance is a critical risk management tool. 📈 It provides assurance to suppliers to maintain inventory flows. The next few quarters will be pivotal for Joann Fabrics. 🤞 Here's hoping they can turn their performance around! What's your take? Share below! 👇
This alarming statistic suggests a favorite retailer is in trouble
thestreet.com
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Have you heard the latest news about Joann Fabrics? Joann Fabrics is a leading retailer of goods used in arts and crafts. It operates 831 stores in 49 states, and it's been in business for 80 years. The company is in the middle of a cost-cutting plan it hopes will save up to $200 million annually. But it's also struggling under the weight of significant debt. Because we believe data is the lens to everything in business, we took a look at the company's credit report. And what we found gives a lot more context to the company's financial woes right now. Here's an overview of what we found: - The company has had an erratic payment track record for a year. - The company's DBT (Days Beyond Terms) has been much higher than the industry average. - The company's risk score dropped from an “A” to a “C” at the end of June 2023. And now, TheStreet has written an in-depth article about it and included data, insights and comments from Matthew Debbage, CEO of the Americas and Asia for Creditsafe. #retailers #bankruptcy #debt #creditrisk #paymentdata #riskmanagement
This alarming statistic suggests a favorite retailer is in trouble
thestreet.com
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At a time when the dollar channel is doing well, it was odd to see 99 Cents Only Stores filing for bankruptcy. But, in a time of high inflation, labor costs, and shrink, their ridged business model of lowest price made it difficult to offer items consumers wanted or invest in their stores. At a time when all the variables in retail are changing, it's important to remain flexible and constantly adjust to meet consumer needs. #peergroups #retail #grocery
99 Cents Only files for Chapter 11
retaildive.com
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