New Generation Research公司CEO詹姆斯·哈蒙德曾經(jīng)告訴《財(cái)富》雜志:“我們看到公司破產(chǎn)的速度正在加快,達(dá)到前所未有的程度?!痹摴窘?jīng)營(yíng)破產(chǎn)數(shù)據(jù)網(wǎng)站BankruptcyData。
對(duì)于2020年,哈蒙德說(shuō):“我相信今年公司破產(chǎn)的數(shù)量,將是許多生意人終生都難得一見(jiàn)的?!惫傻卤硎?,僅按資產(chǎn)計(jì)算,今年破產(chǎn)公司的規(guī)模已經(jīng)超過(guò)了2008年。
以下是新冠疫情期間已經(jīng)申請(qǐng)破產(chǎn)的公司清單。隨著更多公司宣布申請(qǐng)破產(chǎn)保護(hù),這個(gè)清單還會(huì)繼續(xù)更新。
維珍大西洋航空
理查德·布蘭森創(chuàng)辦的維珍大西洋航空(Virgin Atlantic)8月4日在紐約根據(jù)《破產(chǎn)法》第15章申請(qǐng)破產(chǎn)保護(hù)。達(dá)美航空(Delta)持有該公司49%的股份。第15章是針對(duì)在多個(gè)國(guó)家經(jīng)營(yíng)的跨國(guó)公司提供的一種破產(chǎn)保護(hù),與其他條款略有不同。該航空公司此前曾嘗試獲得英國(guó)政府的救助,還公布了一項(xiàng)私人救助計(jì)劃,但這些努力都未能讓該公司免于破產(chǎn)。
Lord & Taylor
這家知名百貨商店的歷史可以追溯到1826年。當(dāng)時(shí)其創(chuàng)始人在紐約下東城開(kāi)了一家干貨店。但面臨新冠疫情帶來(lái)的財(cái)務(wù)壓力,這家公司已經(jīng)難以為繼。該連鎖百貨商店及其母公司服裝租賃初創(chuàng)公司LeTote,都在8月2日申請(qǐng)破產(chǎn)保護(hù)。
Tailored Brands
連鎖零售商Men's Warehouse和Jos. A. Bank的母公司Tailored Brands于8月2日依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù)。據(jù)《財(cái)富》雜志報(bào)道:“越來(lái)越多男士選擇更休閑的職場(chǎng)著裝,同時(shí)Suit Supply等新品牌和服務(wù)日益流行,這些趨勢(shì)導(dǎo)致該零售商在新冠疫情之前就已經(jīng)面臨著嚴(yán)峻的挑戰(zhàn)。疫情封鎖期間門店關(guān)閉,而且有成百上千萬(wàn)男士一直在家辦公,因此不需要購(gòu)買新西裝,讓Tailored走向了破產(chǎn)。最近一個(gè)季度,該公司的銷售額下跌了60.4%,只有2.87億美元?!?/p>
無(wú)印良品美國(guó)
7月10日,日本零售商無(wú)印良品(Muji)的美國(guó)子公司宣布依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù)。無(wú)印良品的母公司為株式會(huì)社良品計(jì)畫(Ryohin Keikaku Co.)。無(wú)印良品在聲明中表示,其網(wǎng)站和目前仍在營(yíng)業(yè)的零售店將繼續(xù)運(yùn)營(yíng),因?yàn)楣鹃_(kāi)始“與貸款商和其他利益相關(guān)方就財(cái)務(wù)重組計(jì)劃展開(kāi)建設(shè)性討論?!?/p>
Sur La Table
7月9日,西雅圖公司Sur La Table宣布已經(jīng)申請(qǐng)破產(chǎn),并收到了峰堡投資集團(tuán)有限責(zé)任公司(Fortress Investment Group LLC)的收購(gòu)要約。該連鎖零售商稱,計(jì)劃將70家門店出售給峰堡投資,關(guān)閉51家門店,但烹飪課和線上業(yè)務(wù)將繼續(xù)運(yùn)營(yíng)。
Brooks Brothers
當(dāng)全世界的人都穿著運(yùn)動(dòng)休閑裝在家辦公的時(shí)候,不適合經(jīng)營(yíng)銷售學(xué)院風(fēng)服裝的高端豪華商場(chǎng)。Brooks Brothers創(chuàng)建于1818年,以其藍(lán)色運(yùn)動(dòng)夾克和雅致的羊毛衫而聞名。該公司在7月中旬申請(qǐng)破產(chǎn)保護(hù)。
赫茲
到目前為止,依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)的美國(guó)公司規(guī)模最大的是汽車租賃公司赫茲(Hertz)。在旅游業(yè)徹底停滯之后,該公司的經(jīng)營(yíng)難以為繼,目前正對(duì)外出售車隊(duì),以滿足債權(quán)人的要求。
切薩皮克能源
6月28日,位于奧克拉荷馬市的大型能源公司切薩皮克能源(Chesapeake Energy)依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù),成為全球停工導(dǎo)致需求大幅下跌的犧牲品之一。該公司公布的資產(chǎn)與負(fù)債在100億美元和500億美元之間,共有10萬(wàn)多家債權(quán)人。
NPC International公司
必勝客(Pizza Hut)最大的特許加盟商N(yùn)PC International公司在7月1日宣布破產(chǎn)。NPC在1962年開(kāi)了第一家必勝客餐廳,其在美國(guó)擁有超過(guò)1,225家必勝客餐廳和超過(guò)385家溫蒂快餐廳(Wendy’s)。
Le Pain Quotidien美國(guó)業(yè)務(wù)
我的天啊!這家被人們親切稱為“Le Pain Q”的連鎖店在美國(guó)有許多粉絲,它的面包和昂貴的沙拉備受喜愛(ài),但長(zhǎng)時(shí)間停工讓該公司損失慘重。據(jù)彭博社報(bào)道,該連鎖店的銷售額在疫情之前已經(jīng)呈現(xiàn)出下滑趨勢(shì),去年其美國(guó)業(yè)務(wù)的銷售額只有1.53億美元,虧損近1,700萬(wàn)美元:“依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn),使Le Pain Quotidien可以進(jìn)行債務(wù)重組,并出售給Aurify Brands有限責(zé)任公司,但該交易需要法院批準(zhǔn)。擬在該公司擔(dān)任首席重組官的史蒂夫·弗萊明在一份法院聲明中表示,如果不對(duì)外出售,該公司只能清算98家美國(guó)門店。”
GNC
膳食補(bǔ)充劑連鎖品牌GNC在6月23日申請(qǐng)破產(chǎn)。《財(cái)富》雜志的菲爾·沃赫拜曾經(jīng)寫道,連續(xù)數(shù)年銷售下滑,導(dǎo)致GNC無(wú)法償還今年到期的巨額債務(wù),最終徹底擊垮了該公司。事實(shí)上,“GNC的情況是實(shí)體店零售商在電商業(yè)務(wù)領(lǐng)域行動(dòng)遲緩的典型例子。上個(gè)季度,該公司線上銷售額增長(zhǎng)了25%,但這遠(yuǎn)遠(yuǎn)無(wú)法彌補(bǔ)大幅減少的實(shí)體店銷售額?!逼婀值氖?,交易商依舊在抓緊機(jī)會(huì)買進(jìn)和賣出這家破產(chǎn)公司的股票。
尼曼集團(tuán)
《財(cái)富》雜志在5月7日曾經(jīng)報(bào)道:“總部位于達(dá)拉斯的知名奢侈品零售商尼曼集團(tuán)(Neiman Marcus)已經(jīng)依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù),并提出了有關(guān)債權(quán)人的預(yù)裝破產(chǎn)計(jì)劃,將大幅減輕公司的債務(wù)負(fù)擔(dān)。尼曼集團(tuán)旗下?lián)碛屑~約商場(chǎng)Bergdorf Goodman。這一安排將使尼曼集團(tuán)獲得更多喘息的空間,度過(guò)此次全球疫情和重建公司的業(yè)務(wù)?!?/p>
彭尼百貨
彭尼百貨(J.C. Penney)的規(guī)模和在美國(guó)零售業(yè)中的重要地位,曾經(jīng)只有西爾斯百貨(Sears)能與其匹敵,但新冠疫情給該連鎖零售商帶來(lái)了致命一擊?!敦?cái)富》雜志的菲爾·沃赫拜寫道:“多年來(lái),該公司一直在苦苦掙扎,其凈銷售額從2007年的199億美元下降到2019年的107億美元,雖然在過(guò)去十年公司多次嘗試轉(zhuǎn)型,但其自我改造不足以留住消費(fèi)者。公司首席執(zhí)行官吉爾·索爾陶認(rèn)為新冠疫情把它推下了破產(chǎn)的深淵?!背嗽?月中旬申請(qǐng)破產(chǎn)以外,該公司在一篇新聞稿中表示,會(huì)考慮其他多種方案,包括掛牌出售。
J.Crew
備受喜愛(ài)的學(xué)院風(fēng)服裝零售商J. Crew在年初有一系列高調(diào)舉措,包括任命新CEO,并表示要?jiǎng)冸x備受喜愛(ài)的Madewell品牌等,但新冠疫情的爆發(fā)令其遭遇障礙。正如《財(cái)富》雜志的菲爾·沃赫拜所寫:“新冠疫情導(dǎo)致J. Crew和Madewell這些基于商場(chǎng)的連鎖零售商大量關(guān)店,讓這家私募股權(quán)基金所有、負(fù)債累累的公司在財(cái)務(wù)上徹底崩潰?!痹摴驹?月依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù),“將幫助J. Crew集團(tuán)擺脫債務(wù)的束縛,把債務(wù)轉(zhuǎn)換為股權(quán),給這家麻煩纏身但依舊深受喜愛(ài)的公司它真正需要的東西:經(jīng)過(guò)數(shù)年混亂之后從頭開(kāi)始進(jìn)行自我改造的機(jī)會(huì)?!?/p>
CEC Entertainment
一年時(shí)間能帶來(lái)多大的變化?去年4月,出奇老鼠(Chuck E. Cheese)的母公司CEC還在準(zhǔn)備首次公開(kāi)募股。但今年6月底,這家公司卻進(jìn)入了破產(chǎn)保護(hù)程序。該公司有612家出奇老鼠門店和122家Peter Piper Pizza餐廳,目前還沒(méi)有公布哪些將被關(guān)閉。該公司表示一半餐廳已經(jīng)恢復(fù)營(yíng)業(yè),在特定時(shí)間提供店內(nèi)用餐、送餐、外賣或派對(duì)等服務(wù)。(財(cái)富中文網(wǎng))
譯者:Biz
New Generation Research公司CEO詹姆斯·哈蒙德曾經(jīng)告訴《財(cái)富》雜志:“我們看到公司破產(chǎn)的速度正在加快,達(dá)到前所未有的程度?!痹摴窘?jīng)營(yíng)破產(chǎn)數(shù)據(jù)網(wǎng)站BankruptcyData。
對(duì)于2020年,哈蒙德說(shuō):“我相信今年公司破產(chǎn)的數(shù)量,將是許多生意人終生都難得一見(jiàn)的?!惫傻卤硎荆瑑H按資產(chǎn)計(jì)算,今年破產(chǎn)公司的規(guī)模已經(jīng)超過(guò)了2008年。
以下是新冠疫情期間已經(jīng)申請(qǐng)破產(chǎn)的公司清單。隨著更多公司宣布申請(qǐng)破產(chǎn)保護(hù),這個(gè)清單還會(huì)繼續(xù)更新。
維珍大西洋航空
理查德·布蘭森創(chuàng)辦的維珍大西洋航空(Virgin Atlantic)8月4日在紐約根據(jù)《破產(chǎn)法》第15章申請(qǐng)破產(chǎn)保護(hù)。達(dá)美航空(Delta)持有該公司49%的股份。第15章是針對(duì)在多個(gè)國(guó)家經(jīng)營(yíng)的跨國(guó)公司提供的一種破產(chǎn)保護(hù),與其他條款略有不同。該航空公司此前曾嘗試獲得英國(guó)政府的救助,還公布了一項(xiàng)私人救助計(jì)劃,但這些努力都未能讓該公司免于破產(chǎn)。
Lord & Taylor
這家知名百貨商店的歷史可以追溯到1826年。當(dāng)時(shí)其創(chuàng)始人在紐約下東城開(kāi)了一家干貨店。但面臨新冠疫情帶來(lái)的財(cái)務(wù)壓力,這家公司已經(jīng)難以為繼。該連鎖百貨商店及其母公司服裝租賃初創(chuàng)公司LeTote,都在8月2日申請(qǐng)破產(chǎn)保護(hù)。
Tailored Brands
連鎖零售商Men's Warehouse和Jos. A. Bank的母公司Tailored Brands于8月2日依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù)。據(jù)《財(cái)富》雜志報(bào)道:“越來(lái)越多男士選擇更休閑的職場(chǎng)著裝,同時(shí)Suit Supply等新品牌和服務(wù)日益流行,這些趨勢(shì)導(dǎo)致該零售商在新冠疫情之前就已經(jīng)面臨著嚴(yán)峻的挑戰(zhàn)。疫情封鎖期間門店關(guān)閉,而且有成百上千萬(wàn)男士一直在家辦公,因此不需要購(gòu)買新西裝,讓Tailored走向了破產(chǎn)。最近一個(gè)季度,該公司的銷售額下跌了60.4%,只有2.87億美元?!?/p>
無(wú)印良品美國(guó)
7月10日,日本零售商無(wú)印良品(Muji)的美國(guó)子公司宣布依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù)。無(wú)印良品的母公司為株式會(huì)社良品計(jì)畫(Ryohin Keikaku Co.)。無(wú)印良品在聲明中表示,其網(wǎng)站和目前仍在營(yíng)業(yè)的零售店將繼續(xù)運(yùn)營(yíng),因?yàn)楣鹃_(kāi)始“與貸款商和其他利益相關(guān)方就財(cái)務(wù)重組計(jì)劃展開(kāi)建設(shè)性討論?!?/p>
Sur La Table
7月9日,西雅圖公司Sur La Table宣布已經(jīng)申請(qǐng)破產(chǎn),并收到了峰堡投資集團(tuán)有限責(zé)任公司(Fortress Investment Group LLC)的收購(gòu)要約。該連鎖零售商稱,計(jì)劃將70家門店出售給峰堡投資,關(guān)閉51家門店,但烹飪課和線上業(yè)務(wù)將繼續(xù)運(yùn)營(yíng)。
Brooks Brothers
當(dāng)全世界的人都穿著運(yùn)動(dòng)休閑裝在家辦公的時(shí)候,不適合經(jīng)營(yíng)銷售學(xué)院風(fēng)服裝的高端豪華商場(chǎng)。Brooks Brothers創(chuàng)建于1818年,以其藍(lán)色運(yùn)動(dòng)夾克和雅致的羊毛衫而聞名。該公司在7月中旬申請(qǐng)破產(chǎn)保護(hù)。
赫茲
到目前為止,依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)的美國(guó)公司規(guī)模最大的是汽車租賃公司赫茲(Hertz)。在旅游業(yè)徹底停滯之后,該公司的經(jīng)營(yíng)難以為繼,目前正對(duì)外出售車隊(duì),以滿足債權(quán)人的要求。
切薩皮克能源
6月28日,位于奧克拉荷馬市的大型能源公司切薩皮克能源(Chesapeake Energy)依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù),成為全球停工導(dǎo)致需求大幅下跌的犧牲品之一。該公司公布的資產(chǎn)與負(fù)債在100億美元和500億美元之間,共有10萬(wàn)多家債權(quán)人。
NPC International公司
必勝客(Pizza Hut)最大的特許加盟商N(yùn)PC International公司在7月1日宣布破產(chǎn)。NPC在1962年開(kāi)了第一家必勝客餐廳,其在美國(guó)擁有超過(guò)1,225家必勝客餐廳和超過(guò)385家溫蒂快餐廳(Wendy’s)。
Le Pain Quotidien美國(guó)業(yè)務(wù)
我的天啊!這家被人們親切稱為“Le Pain Q”的連鎖店在美國(guó)有許多粉絲,它的面包和昂貴的沙拉備受喜愛(ài),但長(zhǎng)時(shí)間停工讓該公司損失慘重。據(jù)彭博社報(bào)道,該連鎖店的銷售額在疫情之前已經(jīng)呈現(xiàn)出下滑趨勢(shì),去年其美國(guó)業(yè)務(wù)的銷售額只有1.53億美元,虧損近1,700萬(wàn)美元:“依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn),使Le Pain Quotidien可以進(jìn)行債務(wù)重組,并出售給Aurify Brands有限責(zé)任公司,但該交易需要法院批準(zhǔn)。擬在該公司擔(dān)任首席重組官的史蒂夫·弗萊明在一份法院聲明中表示,如果不對(duì)外出售,該公司只能清算98家美國(guó)門店?!?/p>
GNC
膳食補(bǔ)充劑連鎖品牌GNC在6月23日申請(qǐng)破產(chǎn)?!敦?cái)富》雜志的菲爾·沃赫拜曾經(jīng)寫道,連續(xù)數(shù)年銷售下滑,導(dǎo)致GNC無(wú)法償還今年到期的巨額債務(wù),最終徹底擊垮了該公司。事實(shí)上,“GNC的情況是實(shí)體店零售商在電商業(yè)務(wù)領(lǐng)域行動(dòng)遲緩的典型例子。上個(gè)季度,該公司線上銷售額增長(zhǎng)了25%,但這遠(yuǎn)遠(yuǎn)無(wú)法彌補(bǔ)大幅減少的實(shí)體店銷售額?!逼婀值氖牵灰咨桃琅f在抓緊機(jī)會(huì)買進(jìn)和賣出這家破產(chǎn)公司的股票。
尼曼集團(tuán)
《財(cái)富》雜志在5月7日曾經(jīng)報(bào)道:“總部位于達(dá)拉斯的知名奢侈品零售商尼曼集團(tuán)(Neiman Marcus)已經(jīng)依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù),并提出了有關(guān)債權(quán)人的預(yù)裝破產(chǎn)計(jì)劃,將大幅減輕公司的債務(wù)負(fù)擔(dān)。尼曼集團(tuán)旗下?lián)碛屑~約商場(chǎng)Bergdorf Goodman。這一安排將使尼曼集團(tuán)獲得更多喘息的空間,度過(guò)此次全球疫情和重建公司的業(yè)務(wù)?!?/p>
彭尼百貨
彭尼百貨(J.C. Penney)的規(guī)模和在美國(guó)零售業(yè)中的重要地位,曾經(jīng)只有西爾斯百貨(Sears)能與其匹敵,但新冠疫情給該連鎖零售商帶來(lái)了致命一擊?!敦?cái)富》雜志的菲爾·沃赫拜寫道:“多年來(lái),該公司一直在苦苦掙扎,其凈銷售額從2007年的199億美元下降到2019年的107億美元,雖然在過(guò)去十年公司多次嘗試轉(zhuǎn)型,但其自我改造不足以留住消費(fèi)者。公司首席執(zhí)行官吉爾·索爾陶認(rèn)為新冠疫情把它推下了破產(chǎn)的深淵?!背嗽?月中旬申請(qǐng)破產(chǎn)以外,該公司在一篇新聞稿中表示,會(huì)考慮其他多種方案,包括掛牌出售。
J.Crew
備受喜愛(ài)的學(xué)院風(fēng)服裝零售商J. Crew在年初有一系列高調(diào)舉措,包括任命新CEO,并表示要?jiǎng)冸x備受喜愛(ài)的Madewell品牌等,但新冠疫情的爆發(fā)令其遭遇障礙。正如《財(cái)富》雜志的菲爾·沃赫拜所寫:“新冠疫情導(dǎo)致J. Crew和Madewell這些基于商場(chǎng)的連鎖零售商大量關(guān)店,讓這家私募股權(quán)基金所有、負(fù)債累累的公司在財(cái)務(wù)上徹底崩潰?!痹摴驹?月依據(jù)《破產(chǎn)法》第11章申請(qǐng)破產(chǎn)保護(hù),“將幫助J. Crew集團(tuán)擺脫債務(wù)的束縛,把債務(wù)轉(zhuǎn)換為股權(quán),給這家麻煩纏身但依舊深受喜愛(ài)的公司它真正需要的東西:經(jīng)過(guò)數(shù)年混亂之后從頭開(kāi)始進(jìn)行自我改造的機(jī)會(huì)?!?/p>
CEC Entertainment
一年時(shí)間能帶來(lái)多大的變化?去年4月,出奇老鼠(Chuck E. Cheese)的母公司CEC還在準(zhǔn)備首次公開(kāi)募股。但今年6月底,這家公司卻進(jìn)入了破產(chǎn)保護(hù)程序。該公司有612家出奇老鼠門店和122家Peter Piper Pizza餐廳,目前還沒(méi)有公布哪些將被關(guān)閉。該公司表示一半餐廳已經(jīng)恢復(fù)營(yíng)業(yè),在特定時(shí)間提供店內(nèi)用餐、送餐、外賣或派對(duì)等服務(wù)。(財(cái)富中文網(wǎng))
譯者:Biz
“We are seeing an acceleration in bankruptcies that is unprecedented,” James Hammond, CEO of New Generation Research, which runs BankruptcyData, previously told Fortune.
For 2020, he says, “I’m pretty confident we will see more bankruptcies than in any businessperson’s lifetime.” Ranked by assets alone, says Hammond, the magnitude of bankruptcies this year has already surpassed that of 2008.
Below is a running list of companies that have filed for bankruptcy during the pandemic. We'll add to this list as more Chapter 11 filings are announced.
Virgin Atlantic
Richard Branson's Virgin Atlantic—which is 49% owned by Delta—filed for Chapter 15 protection in New York on August 4th. Chapter 15 is a slightly different form of bankruptcy protection designed for companies that operate in multiple countries. Though the airline had previously tried to obtain a British government bailout, as well as put together a private rescue package, those efforts were not enough to save the company from bankruptcy.
Lord & Taylor
Though the storied department store traced its roots back to 1826 when its founders launched a dry good store on New York's Lower East Side, it could not survive the financial strain of COVID. The chain—and its owner, clothing rental startup LeTote—both filed for bankruptcy protection on August 2.
Tailored Brands
The parent company of the Men's Warehouse and Jos. A. Bank chains filed for Chapter 11 on August 2. As Fortune reported: "The retailer had been facing big challenges before the COVID-19 pandemic, with men increasingly opting for more casual clothing at work and the rising popularity of newer brands and services like Suit Supply. Store closings during lockdowns and millions of men not needing new suits because they're working from home for now pushed Tailored over the edge. In its most recent quarter, sales fell 60.4% to $287 million."
Muji U.S.
On July 10, the U.S. subsidiary of Japanese retailer Muji, operated by Ryohin Keikaku Co., announced it would file for Chapter 11 bankruptcy protection. In a statement, the company said it will remain open for business on its website and currently operating retail locations as it begins "constructive discussions with its lenders and other stakeholders regarding the terms of a financial restructuring plan."
Sur La Table
On July 9, the Seattle company Sur La Table announced that it had filed for bankruptcy and had a buyout offer from Fortress Investment Group LLC. The chain said it planned to sell 70 stores to Fortress, close another 51, and keep operating cooking classes and its web business.
Brooks Brothers
When the world is working from home wearing athleisure, it's no time to be running an upscale prepster emporium. The storied purveyor of blue blazers and tasteful cardigans—in business since 1818—filed for bankruptcy protection in mid July.
Hertz
The largest Chapter 11 bankruptcy so far has been that of car-rental company Hertz. Unable to hold on after the travel industry effectively hit the brakes, the company is now selling off much of its fleet in a bid to meet demands from creditors.
Chesapeake Energy
On June 28, the huge energy company based in Oklahoma City filed for Chapter 11, a victim of the staggering reduction in demand amidst the global shutdown. The company reported assets and liabilities in the range of $10 billion and $50 billion and more than 100,000 creditors.
NPC International Inc.
The largest franchisee of Pizza Hut restaurants declared bankruptcy on July 1. NPC opened its first Pizza Hut restaurant in 1962 and operates more than 1,225 Pizza Hut and more than 385 Wendy’s stores across the U.S.
Le Pain Quotidien, U.S. arm
Mon dieu! Despite legions of loyal fans who loved the chain's bread and pricey salads, a prolonged shutdown took a great toll on the company affectionally referred to as "Le Pain Q." According to Bloomberg, the chain's sales were already slipping pre-pandemic, with the U.S. arm reporting a nearly $17 million loss on $153 million in sales last year: "The Chapter 11 petition allows Le Pain Quotidien to rework its debts and carry out a sale to Aurify Brands LLC, which requires court approval. Without the sale, the company would’ve had to liquidate its 98 U.S. stores, proposed Chief Restructuring Officer Steven Fleming said in a court declaration."
GNC
The supplement chain filed for bankruptcy on June 23. As Fortune's Phil Wahba wrote, GNC was slammed by yearslong sales declines that made it impossible to meet enormous debt obligations coming due this year." Indeed, "GNC's case is the classic tale of a brick-and-mortar retailer getting its e-commerce business going too late. Online sales rose 25% last quarter but were too small of a business to make up for the huge declines in-store." Oddly, traders still managed to have a field day dodging in and out of shares of the bankrupt company.
Neiman Marcus
On May 7, as Fortune wrote, "the storied Dallas-based luxe purveyor, which also owns New York's Bergdorf Goodman emporium, filed for Chapter 11 bankruptcy protection in a pre-packaged arrangement with creditors that will significantly lower its debt load. The arrangement should give it more breathing room to weather the global pandemic and rebuild its business."
J.C. Penney
COVID proved a knockout blow to the chain that was once rivaled only by Sears in terms of size and importance in U.S. retailing. According to Fortune's Phil Wahba: "While the company has been struggling for years—net sales in 2019 were $10.7 billion, down from $19.9 billion in 2007—and has failed to reinvent itself enough to keep shoppers despite many turnaround attempts in the last decade, chief executive Jill Soltau suggested the COVID-19 outbreak pushed it over the edge." In addition to the mid-May filing, Penney said in a news release that it would explore a number of options including selling the company.
J. Crew
Though the beloved purveyor of preppy gear started the year off on a high note with a new CEO and talk of spinning off the well-regarded Madewell brand, it hit a wall as the pandemic descended. As Fortune's Phil Wahba wrote, "the mass store closings that the pandemic imposed on mall-based chains like J.Crew and Madewell pushed the highly indebted private-equity owned company over the edge financially." The company's May Chapter 11 filing, "will remove the debt albatross from J.Crew Group's neck by turning it into equity, and give the troubled but still beloved company something it really needs: a clean slate to reinvent itself after years of turmoil."
CEC Entertainment
What a difference a year makes. Last April, CEC, the parent company of Chuck E. Cheese, was prepping for an IPO. Instead, at the end of June, they entered bankruptcy protection. At the time, the company did not announce plans to close any of the 612 Chuck E. Cheese locations or 122 Peter Piper Pizza restaurants and said that half of its locations had been reopened for dine-in, delivery, carry-out, or parties during certain hours.