National Stores
National Stores filed for Chapter 11 in August 2018 after it stated that it was planning to cease operations in 74 stores across the United States and Puerto Rico. CNBC also reported that it has earned significant debts after its multiple brand acquisitions. What makes things even worse is that locations are in stand-alone shopping centers.
National Stores
Gump’s Holdings
Gump’s Holdings did not find a buyer, so it opted to file for Chapter 11 in August 2018. It released a press release that said it was hard to do business thanks to an “overwhelmingly difficult retail environment”. Its attempt to go online was Gump’s By Mail, but it could not compete against Amazon. The company is still holding out for a buyer, but it will continue to operate. At this point, it has asked the help of liquidators to deal with credit repayment and merchandise.
Gump’s