Bankruptcies
Suffering the effects of the ongoing coronavirus pandemic and lockdown regulations.
Roughly $167 million USD more than what it needed to survive.
For the second time in less than 10 years.
After being refused a payout from its insurance company.
Equitizing more than $1.6 billion USD of secured indebtedness.
Approved by the court last Friday.
Along with several other stores.
Hoping to block the payouts in court.
Ahead of a court-supervised auction.
Another 1,300 staff were already terminated earlier this year.
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