In the News

State, former healthcare provider agree to settle suit over prisoners’ untreated hernias

About 1,800 current and former Florida prison inmates who were denied medical care for hernias will be entitled to divide $1.7 million in damages from a class-action lawsuit under a conditional settlement agreed to by the Department of Corrections and its former prison health-care provider, Corizon, and filed in federal court in Tallahassee last week.

For Only $130 a Month, You Could Lease an Entire Office Inside a Virtually Empty Staples

In September, Staples partnered with Massachusetts operator of co-working space Workbar, to bring offices, reservable conference rooms, private phone rooms and free onsite parking, plus unlimited coffee as the retailer pointed out, to monthly members at a cost of $130. The spaces are only available at three Staples stores located near Boston so far.

cleveland

Sears warranties could be worthless if company files bankruptcy: Money Matters

Now that Sears seems to be warning it could file bankruptcy, I’m wondering what could happen to my extended warranties on the appliances I’ve bought from Sears? I bought a new refrigerator, stove and dishwasher last year and also purchased extended warranties. If Sears goes out of business, who would honor those warranties?

SourcingJournal

Don’t Write That Mall Obit Yet

The litany of recent store closures reads like a who’s who of once beloved retailers. Whether to bankruptcy or restructuring, hundreds of doors have been—or are already slated to be—on the chopping block.

Here’s what will happen to your Sears warranty if the company goes bankrupt

Albert Barrera of Odessa, Texas, walked into a Sears store recently with a pressing question for the manager: “If Sears closes, who will service my refrigerator?”

Amazon Is Causing Catastrophe by Being the Most Disruptive Force in Retail and Technology Today

It’s no secret that Amazon (AMZN) is upending retail, with a new bankruptcy filing or store closure announcement coming nearly every day since the beginning of March from traffic starved bricks-and-mortar retailers.

The Gazette

Fashion brands go out of style faster

American Apparel bit the dust. So did Nasty Gal. BCBG Max Azria filed for bankruptcy as did teen retailer Wet Seal. The fashion industry long has been a fickle beast, with trends rising and dying sometimes in the space of weeks. But changing consumer habits — including the emergence of e-commerce and the decline of traffic at many malls — is further shortening the life cycle for many fashion brands, analysts said.

Sears Has Finally Admitted That It’s Almost Dead

As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that “substantial doubt exists related to the company’s ability to continue as a going concern.” For those clickbait-loving headline writers out there with no financial services training: what Sears essentially said is that yes, it’s unsure if it could stay in business. Well, duh.

Fashion brands — including several L.A. retailers — are dying off as consumer habits change

American Apparel bit the dust. So did Nasty Gal. BCBG Max Azria filed for bankruptcy, along with teen retailer Wet Seal.

Fossil Is Still Making Billions of Dollars Selling Watches, but Its Stock Looks Like a Broken Clock

 Fossil Group (FOSL) may not be dying like Sears (SHLD) undoubtedly is, but it definitely appears to be struggling right along with nearly every other retailer.

Health Care Bankruptcy: Not An Ordinary Chapter 11 Case

Various factors including increased competition and reimbursement landscape challenges led hospitals and other health care providers to file for bankruptcy over the last few years. For the remainder of 2017, due in part to the current uncertainty in the health care industry and its legislative oversight, more financially distressed providers are considering Chapter 11 bankruptcy to effectuate closures, consolidation, restructurings and related transactions.

investopedia

‘Year of Retail Bankruptcies’ Looms

In a retail environment where consumers are increasingly shifting their shopping habits online, companies that depend on actual foot traffic are yielding an avalanche of dismal earnings reports.