Author Topic: Companies filing for bankruptcy  (Read 2827 times)

Offline SY-K

  • Dansdeals Silver Elite
  • **
  • Join Date: Feb 2019
  • Posts: 82
  • Total likes: 11
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Companies filing for bankruptcy
« Reply #15 on: May 07, 2020, 12:33:18 PM »
I read today Neiman Marcus is filing for bankruptcy. I’m sure we can expect many more to come.
Now official: “Neiman Marcus, saddled with debt and hit by the coronavirus pandemic, filed for bankruptcy on Thursday.” - CNBC

Offline Kobe Bryant

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2017
  • Posts: 2039
  • Total likes: 976
  • DansDeals.com Hat Tips 8
    • View Profile
Re: Companies filing for bankruptcy
« Reply #16 on: June 29, 2020, 11:04:08 PM »


Offline Kobe Bryant

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2017
  • Posts: 2039
  • Total likes: 976
  • DansDeals.com Hat Tips 8
    • View Profile
« Last Edit: July 02, 2020, 09:08:21 AM by Kobe bryent »

Offline cgr

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2017
  • Posts: 2312
  • Total likes: 399
  • DansDeals.com Hat Tips 4
    • View Profile


Offline cgr

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2017
  • Posts: 2312
  • Total likes: 399
  • DansDeals.com Hat Tips 4
    • View Profile

Offline cgr

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2017
  • Posts: 2312
  • Total likes: 399
  • DansDeals.com Hat Tips 4
    • View Profile

Offline cgr

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2017
  • Posts: 2312
  • Total likes: 399
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Companies filing for bankruptcy
« Reply #23 on: August 02, 2020, 11:09:21 PM »
Is it time to invest in a sewing machine?

Offline jj1000

  • Administrator
  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • **********
  • Join Date: Jun 2008
  • Posts: 11331
  • Total likes: 1616
  • DansDeals.com Hat Tips 8015
    • View Profile
  • Location: The value of a forum such as this one is not in that one can post a question and receive an answer, but in that the question has most likely been asked before, and the answer is available to him that will but only use the search function.
  • Programs: 1. Search on google. 2. Search in the right board of DDF with a general word or two. 3. Read the wiki. 4. Read the thread. 5. Ask away.
Re: Companies filing for bankruptcy
« Reply #24 on: August 02, 2020, 11:14:11 PM »
Is it time to invest in a sewing machine?
Been trying to buy the Janome Mod-19 for months and it's been sold out.
See my 5 step program to your left <--

(Real signature under my location)

Offline KSMH

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jul 2018
  • Posts: 2379
  • Total likes: 375
  • DansDeals.com Hat Tips 13
    • View Profile
Re: Companies filing for bankruptcy
« Reply #25 on: August 04, 2020, 04:28:40 PM »
Invalid Tweet ID
Always praying for delayed baggage.

Offline Kobe Bryant

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2017
  • Posts: 2039
  • Total likes: 976
  • DansDeals.com Hat Tips 8
    • View Profile
Re: Companies filing for bankruptcy
« Reply #26 on: September 10, 2020, 10:02:30 AM »
NEW YORK: Century 21, an iconic NY off-price dept store chain, filed for bankruptcy with plans to shut down, becoming latest victim of the pandemic.

Offline yr

  • Dansdeals Silver Elite
  • **
  • Join Date: Dec 2014
  • Posts: 96
  • Total likes: 1
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: United States
Re: Companies filing for bankruptcy
« Reply #27 on: September 10, 2020, 10:45:04 AM »
NEW YORK: Century 21, an iconic NY off-price dept store chain, filed for bankruptcy with plans to shut down, becoming latest victim of the pandemic.

"We now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," said Century 21 co-CEO Raymond Gindi.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/09/10/business/century-21-bankruptcy-closing/index.html

The statement from the CEO is so misleading. Most insurance policies have a virus exclusion.  Also, there needs to be physical damage for business interruption coverage to be triggered. So no, they did not pay for coverage for the stores closing. There are multiple court cases around the country on this very topic. The insurance policies are clear.




Offline cgr

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Aug 2017
  • Posts: 2312
  • Total likes: 399
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Companies filing for bankruptcy
« Reply #28 on: September 10, 2020, 11:50:46 AM »
The statement from the CEO is so misleading. Most insurance policies have a virus exclusion.  Also, there needs to be physical damage for business interruption coverage to be triggered. So no, they did not pay for coverage for the stores closing. There are multiple court cases around the country on this very topic. The insurance policies are clear.

You're generally right but: https://www.marketwatch.com/story/its-a-huge-decision-for-policyholders-a-judge-just-handed-a-win-to-businesses-in-the-high-stakes-fight-for-insurance-coverage-during-the-pandemic-2020-08-14

Offline neveryou

  • Dansdeals Gold Elite
  • ***
  • Join Date: May 2019
  • Posts: 231
  • Total likes: 37
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: US
Re: Companies filing for bankruptcy
« Reply #29 on: September 10, 2020, 01:10:30 PM »
"We now have no viable alternative but to begin the closure of our beloved family business because our insurers, to whom we have paid significant premiums every year for protection against unforeseen circumstances like we are experiencing today, have turned their backs on us at this most critical time," said Century 21 co-CEO Raymond Gindi.

https://www.google.com/amp/s/amp.cnn.com/cnn/2020/09/10/business/century-21-bankruptcy-closing/index.html

The statement from the CEO is so misleading. Most insurance policies have a virus exclusion.  Also, there needs to be physical damage for business interruption coverage to be triggered. So no, they did not pay for coverage for the stores closing. There are multiple court cases around the country on this very topic. The insurance policies are clear.
Maybe that's why there's looters so they can get insurance