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Cramer explains how Sports Authority’s bankruptcy cast a shadow on athletic retail

“In short, the Sports Authority bankruptcy brought lasting damage to the brick-and-mortar vein of sporting goods retail, the “Mad Money” host said” writes Elizabeth Gurdus for cnbc.com. Since Sports Authority went bankrupt in 2016, CNBC’s Jim Cramer has watched the sports retail and athletic wear cohort endure widespread weakness.Cramer argued that Sports Authority’s demise, which began with a leveraged buyout and ended with a botched restructuring program and crushing debt, cast a visible shadow on the sports retail industry.”In retrospect, the bankruptcy of Sports Authority was a watershed moment for…

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Toys R Us and 15 Other Stores That Could Be Bankrupt by the End of the Year

“Here are 15 stores that could find themselves bankrupt by the new year” writes Megan Elliott for cheatsheet.com. Toys R Us has officially filed for Chapter 11 bankruptcy.The chain has closed dozens of stores so far in 2017, and some vendors are reluctant to work with the company because they’re worried they won’t get paid if it goes under, Reuters reported. Source: cheatsheet.com Share This:

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Toys R Us is banking on futuristic tech to save its business after bankruptcy

“In the midst of its bankruptcy, Toys R Us is beefing up its online presence and revamping stores with a focus on interactive areas and augmented reality, Toys R Us CEO Dave Brandon told USA Today” writes Finanzen Net Gmbh for businessinsider.com. Toys R Us has “fundamental, structural challenges,” KeyBanc wrote in a note to investors following the company’s bankruptcy filing. Source: businessinsider.com Share This:

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Toymakers say there is ‘widespread panic’ following Toys R Us bankruptcy

“Toys R Us announced Monday that it had received $3.1 billion from JP Morgan and others to help pay for inventory and company investments” reports washingtonpost.com. Others said they were consulting bankruptcy attorneys and financial advisers to sort out shipments — and payments — related to holiday inventory. Source: washingtonpost.com Share This:

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Judge advises pausing Puerto Rico’s bankruptcy proceedings indefinitely after hurricane: Report

“The team of judges overseeing Puerto Rico’s bankruptcy has advised involved parties to put legal proceedings on hold indefinitely as the island recovers from the damage of Hurricane Maria, a source familiar with the legal proceedings said on Thursday” writes Carlos Garcia Rawlins for cnbc.com. According to the source, judges have also told the parties that the island’s fiscal turnaround blueprint might need to be redrafted, once it becomes clear how costly the destruction is, and how much aid Puerto Rico is expected to get from the U.S. Federal Emergency…

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Mattel amends credit agreement with banks after Toys ‘R’ Us bankruptcy

“Mattel is one of Toys ‘R’ Us’ biggest trade creditors at $135.6 million” writes Tonya Garcia for marketwatch.com. MAT, -0.73% has amended its credit agreement to remove the ratio of consolidated debt to consolidated earnings before interest, taxes, depreciation and amortization that’s required for fiscal third quarter 2017, in the wake of the Toys ‘R’ Us bankruptcy. Source: marketwatch.com Share This:

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Traders are making huge bets that the Toys R Us bankruptcy will crush one of its main suppliers

“Toys R Us isn’t a public company, but its bankruptcy filing two days ago is already sending shockwaves through the stock market” writes Joe Ciolli for businessinsider.com. Holders of Mattel stock may find some solace in the fact that at least some Toys R Us stores may remain open.Feeling the heat is Mattel, the retailer responsible for the wildly popular Barbie and Hot Wheels brands, as well as one of Toys R Us’ most important suppliers. Source: businessinsider.com Share This:

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I went to a Toys R Us store after the bankruptcy announcement and saw how grave the threat of Amazon has really become

“Toys R Us has filed for bankruptcy” writes Dennis Green for businessinsider.com.au. The specialty toy store has struggled struggled as it increasingly competes with online retailers in its two main businesses: baby goods and toys.We decided to visit Toys R Us’ new holiday popup store in Times Square, New York City to see what — if anything — changed now that the retailer has declared bankruptcy. Source: businessinsider.com.au Share This:

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Struggling Toys R Us files for bankruptcy protection 

“Toy giant Toys R Us has filed for bankruptcy protection in the United States and Canada as the retailer struggles under its heavy debt load and a shift towards online shopping” writes Christopher Williams for telegraph.co.uk. The retailer said it was beginning a court-supervised process that allows it to restructure its finances while remaining open for business. It said operations in Europe, Asia and Australia are not included in the Chapter 11 filing, which is often referred to as a “reorganisation” bankruptcy. Source: telegraph.co.uk Share This:

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