Chapter 11 bankruptcy

Hooters closed every location in multiple states and filed for Chapter 11 bankruptcy protection in March 2025 due to flatlining sales, inflation, and other challenges. The company cited financial struggles as the reason for the closures.

Saks Global, parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, emerged from Chapter 11 bankruptcy with a new name, Exemplar Luxury Group, a 75% debt reduction, and $500 million in financing. The company reduced its store count, shuttering most Saks Off Fifth discount stores, and announced a strategy focused on luxury shopping experiences.

Saks Global, the parent company of Neiman Marcus, Saks Fifth Avenue, and Bergdorf Goodman, officially emerged from Chapter 11 bankruptcy with reduced debt, fewer stores, a more focused strategy to serve the affluent, and a new name.

Red Lobster's $20 'Ultimate Endless Shrimp' promotion caused significant financial losses, with shareholders alleging Thai Union Group exploited its controlling stake to push the promotion permanently, leading to bankruptcy and lawsuits over $32 million in disputed transactions. The promotion, which became a regular offering in 2023, allegedly prioritized Thai Union's interests as the exclusive shrimp supplier, driving down customer spending per visit.

Clergy abuse claimants in Vermont are seeking access to approximately $500 million in parish assets held in trusts by the Vermont Roman Catholic Diocese, which filed for Chapter 11 bankruptcy in 2024. The diocese transferred parish assets to trusts in 2006 to shield them from survivor claims, but creditors argue the transfers violated fraudulent deeds law. The case involves legal disputes over whether these assets should be available to settle clergy misconduct lawsuits.

Camp Mystic and its related entities have filed for chapter 11 bankruptcy, putting all five lawsuits against them on hold. The families of the 25 campers and two counselors who died in last year's Independence Day floods remain determined to pursue justice.

Camp Mystic filed for Chapter 11 bankruptcy nearly a year after a deadly flood killed 25 girls and two counselors at the Texas camp. The camp listed over $10 million in debts and assets between $100,001 and $500,000, while families of victims sued for more than $1 million, alleging failure to protect attendees during the flood. The owner, Richard Eastland, also died in the disaster.

Camp Mystic filed for Chapter 11 bankruptcy a year after deadly flooding killed 28 campers and staff. The Eastland family, which owns the camp, cited debts exceeding $10 million and assets between $100,001 and $500,000. The camp failed to reopen due to licensing issues and backlash from victims' families, and a Texas report criticized its lack of emergency preparedness.

Camp Mystic in Texas filed for Chapter 11 bankruptcy with debts exceeding $10 million and assets between $100,001 and $500,000, nearly a year after catastrophic floods killed 25 girls and two teenage counselors. Families of victims sued the camp, alleging failure to protect attendees during the July 4 flood, which also killed the camp's owner, Richard Eastland, and 133 others along the Guadalupe River.

Red Lobster's 37-year-old CEO Damola Adamolekun is leading a comeback strategy using nostalgia and AI after the chain filed for Chapter 11 bankruptcy in 2024. The company closed underperforming locations and has shifted focus to employee engagement and limited-time promotions like endless shrimp.

A Florida-based retailer specializing in boating, fishing, sailing, and watersports supplies is closing 59 stores across 23 states after filing for Chapter 11 bankruptcy in May. The company is a rival of Dick’s Sporting Goods.

Red Lobster's oldest continuously operating location in Tallahassee, Florida, is closing after 56 years due to financial struggles, including the fallout from its permanent Endless Shrimp promotion and a 2014 real estate deal. The company, which emerged from bankruptcy in 2024, has introduced new leadership and menu changes under CEO Damola Adamolekun.

Tailored Brands Inc., parent company of Jos A. Bank and Men's Wearhouse, filed for Chapter 11 bankruptcy protection due to coronavirus-related store shutdowns. The company reduced its workforce by 20%, plans to close 500 stores, and reported a 60% decline in first-quarter sales.

Red Lobster has reintroduced its popular endless shrimp promotion after discontinuing it in 2024 due to financial struggles. The chain filed for Chapter 11 bankruptcy, closed 130 restaurants, and reported a $76 million net loss in 2023, citing high inflation, unsustainable rent costs, and poor management as key issues.

Ascend Elements, a battery recycler, is filing for Chapter 11 bankruptcy due to a canceled government grant and a difficult market for lithium-ion batteries. The company's financial troubles stem from both external funding issues and industry challenges.