Shopko
Business Insider says that this Wisconsin-based retailer filed for Chapter 11 bankruptcy on January 16, 2019. Shopko planned to close 70 percent of its retail stores from February to May 2019 while it is reorganizing. USA Today states that the company would close 251 stores in February, leaving only 110 retail stores open. It planned to close fewer stores in December.
Shopko
A company that closes stores would have to issue a Worker Adjustment and Retraining Notification Act. In this case, ShopKo would have to do it in both Illinois and Wisconsin. Michelle Hansen, Shopko’s spokeswoman said, “Through our conversations with the potential buyers, it has become clear that it is in our best interest to operate with a significantly smaller store footprint.”
The Weinstein Company
The public finally heard about the allegations of sexual misconduct done by the company’s co-founder Harvey Weinstein in October 2017 because of an article published by the New Yorker. The film executive was accused by a number of women, including actresses Ashley Judd and Rose McGowan. In March 2018, The Weinstein Company filed for bankruptcy.
Weinstein
It did find a buyer in May 2018, the Lantern Capital Partners, a private-equity firm based in Dallas. The New York Times reports that Lantern gave $310 million plus the assumption of a $115 million debt. The firm doesn’t have any experience in Hollywood but its portfolio includes a zinc recycling company as well as auto dealerships.
