Bankruptcy
In Marker. More on Medium.
After a wave of bankruptcies and no end to the pandemic in sight, gyms are taking desperate measures to stay alive
When CNN anchor Chris Cuomo announced his positive coronavirus diagnosis in late March, Americans were rapt as the usually robust newsman, ashen and quarantining in his basement, struggled with the then-mysterious virus that had brought schools, businesses, and air travel to a standstill. As for me, I thought about the gym.
Just weeks earlier, I had seen Cuomo at a Long Island training facility, where we both packed into a class of more than 30 people who circulated, panting and sweating and bumping into each other, from shared kettlebells to rowers. That day, I remembered that my usual self-satisfaction from…
Number of the Day
A venture-backed startup acquired the department store chain last year. Then they both went bankrupt.
$100 Million: That’s approximately what Le Tote, a clothing rental startup, is reported to have paid to acquire the iconic Lord & Taylor department store chain last year, per The Washington Post.
This week, the venerable department store filed for bankruptcy. But it isn’t really Lord & Taylor that’s going bankrupt, or at least not on its own. The chain’s much younger, venture-backed parent company is the one in trouble. When Le Tote (founded in 2012 and valued at a reported $180 million) bought the department store brand (founded in 1826, with $1.1 …
Why J. Crew and Chuck E. Cheese aren’t disappearing, but the retailer behind the papasan chair is
Somewhere around April this year, production of Pier 1 Imports’ famous papasan chairs ceased.
So did everything else in the retailer’s manufacturing supply chain, as the company discontinued all purchase orders early that month. “We didn’t want to impact our vendors by having product in production that we weren’t gonna take,” chief executive Robert Riesbeck tells Marker. Pier 1 will sell the papasan chairs and other products in its stores and distribution centers, aiming to clear every last item in by the fall. And that will be that. …
In 2016, New York City’s biggest circus went bankrupt. Here’s how the new owners are bringing it back.
As the lights flashed and the music pulsated, I took a swig of Irish whiskey from my plastic balloon-animal dog tumbler and said to my wife, “There is nooooooooo way Doogie Howser is going to take a run at the Wheel of Death.”
I was wrong. Neil Patrick Harris himself banged out a couple spins before daredevil Jayson Dominguez got inside and performed breathtaking feats like rope-jumping on top of the ever-spinning-while-also-rotating human hamster cage above a packed tent of wide-eyed audience members.
It’s just another day at the Big Apple Circus, now in its 42nd season at Lincoln Center’s…
