bankruptcy

I come by my love of department stores honestly.Growing up, my mom and I would stop at Barney’s after doctor’s appointments and peruse through Bloomingdale’s on the way to the 6 train in its basement. I tried on prom dresses at Neiman Marcus and wedding dresses at Bergdorf Goodman.Saks Fifth…

From the outside, Saks Fifth Avenue — the century-old department store in Manhattan — is literally glowing, its façade decorated with thousands of glittering lights as part of its annual holiday display.The shine, however, masks a retailer under pressure. On Friday, Saks named a new CEO, capping a tumultuous 12…

Red Lobster’s new CEO, Damola Adamolekun, came with a plan to turn the company around. First, however, he’d have to lift spirits.By May 2024, the lobster chain had gone bad. Its private equity owners had saddled the company with expensive leases, labor costs were rising, and promotions like “Endless Shrimp”…