Barneys Seeks Bankruptcy Protection, Closes Stores Including Chicago Locations
Stores in Chicago, Las Vegas and Seattle will close along with 12 concept and warehouse locations.
Stores in Chicago, Las Vegas and Seattle will close along with 12 concept and warehouse locations.
Its other businesses, including ProFlowers, Shari's Berries and Personal Creations, will continue to operate.
Sears Holding Corp. has sued former chairman and CEO Eddie Lampert, and his hedge fund, ESL, accusing them of draining $2 billion from the company as it was headed into bankruptcy.
Johnson publishing company, which created "Ebony" and "Jet" magazines, filed for bankruptcy this afternoon.
The first three stores called Sears Home & Life will open on Memorial Day weekend and are a fraction of the size of the company's traditional stores.
Relief could be on the way to nearly 100 employees who owe thousands in unpaid medical bills after their former employer filed for bankruptcy.
Families looking to celebrate at Planet Fun this weekend, with Paw Patrol and Disney characters, felt the event was not what they paid for.
Even with this latest reprieve, Sears' long-term survival remains an open question. Lampert hasn't put forth any specific reinvention plans and the company still faces cutthroat competition from Amazon, Target and Walmart.
The decision rests with US Bankruptcy Court Judge Robert Drain, who has been hearing the case since Sears filed for bankruptcy in October. Drain has repeatedly expressed a desire to save the jobs of as many of Sears' employees as possible.
Many of Sears' unsecured creditors, who rank at the bottom of the list to be paid and include merchandise suppliers and landlords, had pressed for liquidation, contending the business was worth more dead than alive. They also questioned the propriety of certain deals Lampert has done while at Sears.
A last-minute reprieve for Sears, after the retailer's former CEO made the winning takeover bid in a bankruptcy auction.
Sears' fate has been twisting in the wind for years, but since its bankruptcy filing, its demise has appeared imminent. At its peak in 2012, its stores numbered 4,000, a far cry from the just under 700 stores and 68,000 workers it had as of October.
Many employees and customers are in shock. Many thought liquidation was inevitable. But now the 126-year-old company may have one lifeline left.
After two long delays at a morning hearing in bankruptcy court, attorneys for Sears announced it had accepted a revised bid from a hedge fund controlled by Eddie Lampert, the chairman and former CEO of Sears. The deal could keep 425 of the stores open.
Even if Sears survives bankruptcy, there will be a wide swath of America that no longer has any of its stores.
Facing a Friday deadline for potential buyers to submit bids for its remaining assets, Sears has announced it is closing 80 more stores by March, including two in Illinois.
Sears is nearing a crucial deadline that could determine whether it survives.
The Boy Scouts of America is facing a growing number of sexual abuse and misconduct lawsuits. The organization is considering filing for bankruptcy, due in part, to the massive payouts from these cases.
"The company has zero chance of success. I hate to say that, because there's still quite a few people in the U.S. at least who look to Sears for their employment, but there's no chance for the future there, in my opinion."
After CBS 2's initial story about HOBO declaring bankruptcy, an anonymous viewer reached out to help Leroy Bell get his cabinets.
Chicago-based Sears filed for Chapter 11 bankruptcy protection in October, weighed down by years of declining sales and massive debt.
The nation's largest bridal retailer filed for Chapter 11 bankruptcy protection on Monday. It owes between $500 million and $1 billion to creditors, according to court records.
Home improvement retailer, Home Owners Bargain Outlet (HOBO) filed for bankruptcy, leaving some costumers without refunds. HOBO has five stores in the Chicago area.
"I am beyond frustrated. If they're doing this to other customers, their demise seems imminent."
Facing massive debt and declining sales, Sears has filed for bankruptcy protection, and will be closing more than 180 stores by the end of the year.
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The popular Mediterranean chain will open its first restaurant in the Midwest at 1484 N. Milwaukee Ave. on Friday.
Indiana State, Porter County Sheriff's, and Valparaiso police officers saturated the neighborhood where it all happened Thursday afternoon.
Odunze was a star receiver at Washington and is coming off a year with 92 receptions and more than 1,600 yards, earning him All-American honors.
At a DePaul luncheon, Quiñones received the Distinguished Journalist Award from the DePaul University Center for Journalism Integrity & Excellence.
Former National Enquirer boss David Pecker appeared on the stand for the third day, detailing an agreement the tabloid made with a former Playboy model.
The governor's plan to reduce homelessness is focused on addressing inequities that hurt the Black community.
The Supreme Court convened to consider whether former President Donald Trump is entitled to broad immunity from criminal charges in the 2020 election case.
Guidice said he left City Hall on good terms.
Mayor Brandon Johnson denied that the Bears' shiny new dome could end up costing taxpayers a pretty penny.
Employees at dozens of now-closed Foxtrot Market and Dom's Kitchen stores, now jobless, wonder what comes next for them as their paychecks will soon end.
The family didn't get their cut of the estate sale, not hearing back from the salesman until CBS 2 got involved.
The Better Business Bureau warns that anyone buying an event ticket should watch out for fake ticket scams.
Financial records show Paul Croft and J.D. Frost raised about $30 million for a hydrogen plant that was supposed to be, at one point, in Indiana. It never existed, an attorney says.
Anyone with these sausages in their refrigerators should throw them away or return them to the store.
The city's measles dashboard said a total of 63 measles cases have been confirmed in Chicago this year, with one new case this week.
The department said anyone who visited the Sam's Club at 9400 S. Western Ave. in Evergreen Park one day last week may have been exposed to someone with measles.
Health officials are warning consumers not to consume Infinite Herbs basil sold at some Trader Joe's and Dierberg's stores after 12 people were sickened.
Officials said there was no known link between this case and the recent outbreak of measles at a migrant shelter in Chicago.
Health department officials said the case does not appear to be linked to new migrant arrival shelters in Chicago, and the source of infection is unknown.
Mayor Brandon Johnson denied that the Bears' shiny new dome could end up costing taxpayers a pretty penny.
Employees at dozens of now-closed Foxtrot Market and Dom's Kitchen stores, now jobless, wonder what comes next for them as their paychecks will soon end.
The company announced Tuesday that it received a stalking horse bid to purchase its operating assets.
Dozens of typewriters clutter the shelves of the 24-year-old business owner's workshop inside his parents' home in Downers Grove.
The closure affects both Dom's locations in Chicago, and all 33 Foxtrot stores in Chicago, Texas, and the Washington D.C. area.
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Still, Ravinia is capitalizing on the situation with a limited-edition shirt—reading, "Ravinia Interrupta," and calling the cicada buzz the loudest song of summer.
The singer was found deceased at her home, a representative said.
Anticipation was growing at a fever pitch before Taylor Swift's latest album, "The Tortured Poets Department," dropped at midnight EDT. But it turned out it's actually a double album.
Guitar legend Dickey Betts, who co-founded the Allman Brothers Band and wrote their biggest hit, "Ramblin' Man," has died.
Caleb Williams talks with CBS 2 Sports Director Marshall Harris about being a No. 1 Draft pick for the Bears and some of his soon-to-be-teammates with whom he's looking forward to play.
It was not clear late Thursday who fired first, but it ended with a man dead and a neighborhood in disbelief. CBS 2's Jermont Terry reports.
The popular Mediterranean chain will open its first restaurant in the Midwest at 1484 N. Milwaukee Ave. on Friday.
CBS 2 Chief Meteorologist Albert Ramon has your 10 p.m. First Alert Weather forecast for Thursday, April 25, 2024.
Students say they plan on camping out until Northwestern University meets their demands with regard to involvement with Israel. CBS 2's Marybel Gonzalez reports.
It's a decision that has been widely projected as a virtual lock for this NFL Draft, especially after the Bears traded away Justin Fields to the Steelers.
Organizers with the Northwestern chapters of Educators for Justice in Palestine, Jewish Voice for Peace, Student Liberation Union accused the university of censoring pro-Palestinian speech on campus.
Expert panel discussion centers the focus on the disparity that 1 in 3 victims of crime in Chicago is a Black woman
Both Valparaiso and Porter County Sheriff's police were involved.
The students have asked administrators to make sure protests are conducted free of intimidation, threats, or harassment.
Expert panel discussion centers the focus on the disparity that 1 in 3 victims of crime in Chicago is a Black woman
Police arrived at the scene sooner than if they had waited for the first 911 call.
Anthony Robinson's attorney said his previous defense lawyer failed to present evidence that showed it was physically impossible for him to be the shooter.
The village board is working on a resolution to hire Lightfoot, a former federal prosecutor before her lone term as Chicago's mayor, to investigate claims Henyard has been misusing public funds.
DCFS Director Heidi Mueller was asked Thursday why some kids in the system are being held in psychiatric hospitals longer than medically necessary.
Odunze was a star receiver at Washington and is coming off a year with 92 receptions and more than 1,600 yards, earning him All-American honors.
Williams represents the organization's best hope at finally having a franchise quarterback for the first time since Harry Truman was president.
Fans were in attendance at a big draft day party at Soldier Field Thursday night.
Pete Crow-Armstrong hit a tiebreaking two-run homer for his first major league hit, and the Chicago Cubs swept the Houston Astros with a 3-1 victory.
It's a decision that has been widely projected as a virtual lock for this NFL Draft, especially after the Bears traded away Justin Fields to the Steelers.
Indiana State, Porter County Sheriff's, and Valparaiso police officers saturated the neighborhood where it all happened Thursday afternoon.
Expert panel discussion centers the focus on the disparity that 1 in 3 victims of crime in Chicago is a Black woman
Victor Ayllon pleaded guilty last week to first-degree murder in the death of his wife, Wendy, according to Kane County court records.
Harvey Weinstein's 2020 conviction on felony sex crime charges has been overturned by the State of New York Court of Appeals.
Such crimes are more than a nuisance. A slashed tire is an expensive problem to fix.