Content about Debt

October 13, 2014

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.

The operator of 198 stores in 23 states was founded in 1901 and sought to serve small underserved markets with a broad range of value priced merchandise.

January 8, 2014

The Container Store posted a better than expected profit performance during its first quarter as a public company but offered a full year outlook analysts found underwhelming.

The Container Store posted a better than expected profit performance during its first quarter as a public company but offered a full year outlook analysts found underwhelming.

April 12, 2013

Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

 

March 24, 2013

Target announced that it will sell off about $209.3 million worth of debt as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

MINNEAPOLIS — Target announced that it will sell off about $209.3 million worth of debt as the company moves to refinance $679 million worth of debt due between 2028 and 2031, the mass merchandise retailer said.

Target announced plans to purchase $170 million in 6.75% debentures due 2028, $154.9 million in 6.65% debentures due 2028 and $354 million in 7% debentures due 2031.

The company said the $209.3 million tendered so far represented 20.31%, 25.22% and 38.32% of the totals of the three respective security titles.

 

 

February 5, 2013

Absent a major upheaval caused by the inability of our politicians in Washington to reach reasonable compromises on debt reduction and the debt ceiling, 2013 could finally be the year when the economy starts to pick up a more significant amount of momentum.

Absent a major upheaval caused by the inability of our politicians in Washington to reach reasonable compromises on debt reduction and the debt ceiling, 2013 could finally be the year when the economy starts to pick up a more significant amount of momentum.  It will not be substantial, bu

January 8, 2013

If it weren’t for all the noise coming out of Washington, D.C. for the past month about the fiscal cliff and now the debt ceiling, an important development regarding the life and death issue of food safety might have received more attention.

If it weren’t for all the noise coming out of Washington, D.C. for the past month about the fiscal cliff and now the debt ceiling, an important development regarding the life and death issue of food safety might have received more attention.

December 10, 2012

Particularly in the current economy, it is not uncommon for purchasers, anywhere along the supply-to-distribution chain, to claim financial distress and file for bankruptcy relief. 

Particularly in the current economy, it is not uncommon for purchasers, anywhere along the supply-to-distribution chain, to claim financial distress and file for bankruptcy relief.

How can a person or entity hope to collect on debts owed by a "bankrupt" purchaser? What follows is a primer on bankruptcy terms and procedures, as well as steps an unsecured creditor may follow to be in the best position to collect on what is owed without incurring substantial attorneys’ fees.

November 28, 2012

Good news for Macy’s, which has closed the cash tender offer by its wholly owned subsidiary, Macy’s Retail Holdings, Inc., to purchase up to $700 million in aggregate principal amount of its outstanding debt securities.

CINCINNATI — Good news for Macy’s, which has closed the cash tender offer by its wholly owned subsidiary, Macy’s Retail Holdings, Inc., to purchase up to $700 million in aggregate principal amount of its outstanding debt securities.

“Through this transaction and our recent debt issuance, we have successfully improved our debt maturity profile and decreased our ongoing interest expense,” said Karen M. Hoguet, Macy’s, Inc. CFO.

November 4, 2011

A&P will be able to emerge from chapter 11 next year, thanks to an agreement to receive $490 million of debt and equity financing from private investors comprised of The Yucaipa Companies LLC, Mount Kellett Capital Management LP and investment funds managed by Goldman Sachs Asset Management L.P., the company announced Friday.

MONTVALE, N.J. — A&P will be able to emerge from chapter 11 next year, thanks to an agreement to receive $490 million of debt and equity financing from private investors comprised of The Yucaipa Companies LLC, Mount Kellett Capital Management LP and investment funds managed by Goldman Sachs Asset Management L.P., the company announced Friday. The agreement is subject to approval of the U.S. Bankruptcy Court for the Southern District of New York.

July 29, 2011

The National Retail Federation announced that it is urging Congress to reach an agreement and rais the debt ceiling in order to avoid default.

WASHINGTON — The National Retail Federation announced that it is urging Congress to reach an agreement and raise the debt ceiling in order to avoid default.

NRF president and CEO Matthew Shay issued the following statement:

April 22, 2011

A Western Pennsylvania woman filed a federal lawsuit last week against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

NEW YORK -- A Western Pennsylvania woman filed a federal lawsuit Wednesday against Target Corp. and its law firm over the chain's debt-collection practices, the Associated Press reported. The woman claims false affidavits were used to go after customers who allegedly owed money to a subsidiary bank that issues the store's credit cards.

February 8, 2011

A report released Tuesday by the Federal Reserve said that U.S. consumer borrowing rose in December for a third consecutive month, led by the first increase in credit-card charges in more than two years as holiday sales improved.

Washington, D.C. -- A report released Tuesday by the Federal Reserve said that U.S. consumer borrowing rose in December for a third consecutive month, led by the first increase in credit-card charges in more than two years as holiday sales improved.

September 24, 2010

DALLAS - Blockbuster announced that the U.S. Bankruptcy Court for the Southern District of New York has granted approval of "First Day Motions" requested by the company to help enable it to conduct business in the ordinary course as it moves to recapitalize its balance sheet and substantially reduce debt.

DALLAS - Blockbuster announced that the U.S. Bankruptcy Court for the Southern District of New York has granted approval of "First Day Motions" requested by the company to help enable it to conduct business in the ordinary course as it moves to recapitalize its balance sheet and substantially reduce debt.

September 23, 2010

Blockbuster announced that the U.S. Bankruptcy Court for the Southern District of New York has...