David’s Bridal, the bankrupt wedding gown retailer, has received court approval to sell its business to asset manager Cion Investment Corp. in a no-cash transaction. This deal will allow 195 stores to remain open and avoid a complete shutdown. US Bankruptcy Judge Christine Gravelle stated that the employees, landlords, and creditors would be better off …
UPDATE Jul 13, 2023 6:05 PM CDT Alexander Mashinsky, the founder of Celsius Network, a cryptocurrency lending platform, was recently arrested on federal charges. Mashinsky is accused of misleading investors about the company’s financial stability, according to ABC News. The Securities and Exchange Commission (SEC) and the Federal Trade Commission (FTC) have …
There is a dispute surrounding the auction process of Margaritaville Times Square, with the owner claiming that the lender rigged the process. The New York City branch of the Jimmy Buffet song-themed hotel and restaurant was set to be auctioned as part of a foreclosure sale but filed for bankruptcy prior to the auction. The …
Bankrupt retailer Bed Bath & Beyond is changing its strategy for selling its Buybuy Baby business. Rather than finding a buyer for the entire business, the company will now seek court approval for a limited sale of Buybuy Baby’s intellectual property assets. Previously, Dream On Me was declared as the lead bidder for the brand’s …
Bed Bath & Beyond has been purchased by Overstock.com in a bankruptcy auction, leading to a rebranding of the e-commerce giant. Overstock bid $21.5 million for Bed Bath & Beyond’s intellectual property assets, including its website, domain names, trademarks, and customer database. This acquisition will allow both companies to offer customers a wide range of …
Overstock.com has successfully acquired Bed Bath & Beyond’s brand name, intellectual property, and ecommerce platform for a total of $21.5 million. The purchase was approved by a US bankruptcy judge, Vincent Papalia, who expressed satisfaction at finding a bidder that would preserve Bed Bath & Beyond’s brand. This acquisition allows Overstock to relaunch the Bed …
FTX, a bankrupt cryptocurrency exchange, has taken legal action against Michael Kives and his company, K5 Global, in an attempt to recover $700 million. Kives, a former aide to Hillary Clinton who now works as a Hollywood super agent, allegedly received the funds from Sam Bankman-Fried, a disgraced crypto mogul. Bankman-Fried authorized the transfer of …
E-commerce discounter Overstock.com has acquired the remaining assets of bankrupt big-box retailer Bed Bath & Beyond, according to court filings on Thursday. Overstock.com successfully bid $21.5 million for the intellectual property and mobile platform of Bed Bath & Beyond, allowing it to continue selling the retailer’s goods online. The deal does not include Bed Bath …
Neiman Marcus, the Dallas-based luxury chain, is considering selling its prestigious Bergdorf Goodman stores in New York City, and possibly even the entire company, due to concerns over its weakening finances. Top executives are scheduled to meet with potential buyers for Bergdorf in New York City this week. Additionally, Neiman is contemplating an auction of …