clothing

Fresno clothing retailer is closing some stores, filing for bankruptcy due to COVID-19

The coronavirus pandemic has caused Patrick James, the Fresno-based men’s clothing retailer, to file for bankruptcy with plans to close stores.

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The company has sold upscale men’s clothing – like Tommy Bahama and its own line of shirts and jackets – since 1962.

It has 11 stores in California, Nevada and Arizona, plus a temporary pop-up store in River Park near Ruth’s Chris Steak House through the end of the month.

The company announced last week that it filed for Chapter 11 bankruptcy. It’s a reorganization, not a liquidation.

Patrick James has more than $7 million in debt, and its bankruptcy was filed under a special designation for small businesses during the coronavirus pandemic.

The business was doing “extremely well” before COVID-19 hit, according to Patrick James’ bankruptcy attorney, Hagop Bedoyan of McCormick, Barstow, Sheppard, Wayte & Carruth.

“With the pandemic and closing of doors as mandated by

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clothing

Fresno’s Patrick James blames COVID for bankruptcy, closures

The coronavirus pandemic has caused Patrick James, the Fresno-based men’s clothing retailer, to file for bankruptcy with plans to close stores.

The company has sold upscale men’s clothing – like Tommy Bahama and its own line of shirts and jackets – since 1962.

It has 11 stores in California, Nevada and Arizona, plus a temporary pop-up store in River Park near Ruth’s Chris Steak House through the end of the month.

The company announced last week that it filed for Chapter 11 bankruptcy. It’s a reorganization, not a liquidation.

Patrick James has more than $7 million in debt, and its bankruptcy was filed under a special designation for small businesses during the coronavirus pandemic.

The business was doing “extremely well” before COVID-19 hit, according to Patrick James’ bankruptcy attorney, Hagop Bedoyan of McCormick, Barstow, Sheppard, Wayte & Carruth.

“With the pandemic and closing of doors as mandated by the state

Read More Read more
shopping

Insider Retail: Ruby Tuesday bankruptcy, alt-protein, shopping season

Hello and happy Friday!

I’m happy to bring you another week of Insider Retail, Business Insider’s weekly round-up of everything that’s happening in restaurants and retail. If you haven’t already subscribed, click here to get me, Shoshy Ciment, and my colleague, Kate Taylor, in your inbox every Friday. 

By the way, Kellogg and Insider are hosting an event next week that will explore the impact of COVID-19 and climate change on world hunger. To sign up for the Tuesday event and to hear more about the fight to end global hunger, click here.

Alright, onto the news:

Ruby Tuesday times square

Ruby Tuesday has filed for bankruptcy.

Mary Altaffer/AP Photo


Ruby Tuesday filed for bankruptcy on Wednesday. The casual dining chain had already been on a downward spiral during the pandemic, closing dozens of restaurants in 2020.

The chain now joins a rapidly growing list of casual dining places to file for bankruptcy amid

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accesories

Vista Outdoor Named Successful Bidder in Bankruptcy Auction To Acquire Remington Ammunition and Accessories Assets

ANOKA, Minn., Sept. 28, 2020 /PRNewswire/ — Vista Outdoor Inc. (NYSE: VSTO), a global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, today announced that it has been named a successful bidder in the auction process conducted in connection with Remington Outdoor Company, Inc.’s (“ROC’s”) Chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the Northern District of Alabama.  As a result, Vista Outdoor will acquire certain assets related to ROC’s ammunition and accessories businesses, including ROC’s ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks.  Vista Outdoor has agreed to pay a gross purchase price of $81.4 million for the assets to be acquired, subject to certain customary closing adjustments.  The transaction is subject to the approval of the United States Bankruptcy Court for the Northern District of Alabama at a hearing currently

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