Gump’s Holdings
This San Francisco-based department store operator also sells Gump’s By Mail and Gump’s Corp. CNBC said that when it couldn’t find a buyer, in August 2018, it filed for Chapter 11 bankruptcy. In the company’s press release, it said that an “overwhelmingly difficult retail environment” has made business function very challenging. The company’s Gump’s By Mail was its attempt to sell their products online but competing against the e-commerce giant Amazon seem to be difficult.
Gump’s
It is still looking for a buyer. Until it does, Gump’s Holdings will continue to operate despite the challenging circumstances. It will also work on getting rid of a lot of its goods. It has already sought the help of liquidators to take care of its merchandise and begin repaying its creditors.
Brookstone
It appears that August 2018 is a good time to file for Chapter 11 bankruptcy. Brookstone was another company that filed for Chapter 11 on the said month and planned to close 101 stores in the U.S., according to CNBC. Brookstone is famous for its tech products and home items like gadgets, fancy pillows, and massage chairs.
Brookstone
Just like Gump’s, Brookstone is also searching for a buyer but only for its e-commerce businesses, airport stores, and wholesale operations. CNBC reports that it’s closing all 101 stores in other locations. The report continues to say that landlords haven’t had so many vacant spaces in malls since 2012. Up next is another shoe company at risk for bankruptcy.
