Content about Personal finance

July 14, 2014

Abercrombie & Fitch Co. has initiated a process to refinance $500 million in existing credit facilities to two new facilities worth a total of $750 million.

New Albany, Ohio - Abercrombie & Fitch Co. has initiated a process to refinance $500 million in existing credit facilities to two new facilities worth a total of $750 million. Proceeds are expected to be used to pay off a remaining $131.5 million balance and outstanding borrowings of $60 million related to existing credit facilities, and to pay related fees and expenses associated with the transaction.  

July 8, 2014

According to a survey of more than 1,100 U.S. consumers from the Retail Gift Card Association (RGCA), 77% of consumers have given a gift card in the past year and 90% have received at least one in the past year.

Washington, D.C. - Americans love giving and receiving gift cards. According to a survey of more than 1,100 U.S. consumers from the Retail Gift Card Association (RGCA), 77% of consumers have given a gift card in the past year and 90% have received at least one in the past year.

June 23, 2014

J. C. Penney Company announced today that it has closed its new $2.35 billion asset-based senior secured credit facility, comprised of a $1.850 billion revolving line of credit and a $500 million term loan.

Plano, Texas -- J. C. Penney Company announced today that it has closed its new $2.35 billion asset-based senior secured credit facility, comprised of a $1.850 billion revolving line of credit and a $500 million term loan.

April 11, 2014

Coldwater Creek Inc. filed for Chapter 11 bankruptcy protection, with plans to close its stores and wind down operations by early summer.

Sandpoint, Idaho -- Coldwater Creek Inc. on Friday filed for Chapter 11 bankruptcy protection, with plans to close its stores and wind down operations by early summer.

March 14, 2014

Quiznos on Friday filed for Chapter 11 bankruptcy protection to reduce its debt.

Denver -- Quiznos on Friday filed for Chapter 11 bankruptcy protection to reduce its debt. The sandwich chain said it filed after reaching a deal to cut its debt by more than $400 million, or about two-thirds.

Quiznos said it would continue operating while it works to implement a debt-restructuring plan and make operational improvements.

March 11, 2014

Plus-sized retailer Ashley Stewart has filed for voluntary Chapter 11 bankruptcy protection.

New York -- Plus-sized retailer Ashley Stewart has filed for voluntary Chapter 11 bankruptcy protection. As part of its restructuring plan, the company announced it will immediately close 27 underperforming locations. Ashley Stewart currently operates some 168 stores. The company previously filed Chapter 11 in 2010.

In a separate statement, the company said potential buyers have expressed interest in buying the chain.

March 10, 2014

Sbarro LLC has reportedly filed for Chapter 11 bankruptcy protection for the second time since 2011.

Melville, N.Y. – Sbarro LLC has reportedly filed for Chapter 11 bankruptcy protection for the second time since 2011. According to Reuters, Sbarro wants to reduce its debt by 80% via a pre-packaged reorganization that would allow it to exit bankruptcy before May 7, 2014.

Most of Sbarro’s creditors reportedly support the plan, which it said is necessitated by declining mall traffic and an unsustainable balance sheet. The plan requires court approval and Sbarro will reportedly also seek better offers from potential buyers.

December 16, 2013

Discount apparel retailer Loehmann’s has filed for bankruptcy protection for a third time in its 92-year history, and said it will sell off its assets to a group of liquidators.