23andMe, the once-pioneering genetic testing company known for its saliva-based ancestry kits, has filed for Chapter 11 bankruptcy protection, the company announced Sunday. The move is intended to facilitate a sale of the $50 million company, which has faced growing financial struggles, including massive layoffs, executive shakeups, and a major data breach that exposed the…
Forever 21 is edging closer to shutting its doors for good. The struggling fast-fashion retailer, known for its $7 t-shirts and $12 dresses, is preparing to file for bankruptcy after failing to secure a buyer, Bloomberg reports. With 350 locations left, Forever 21 is owned by licensing giant Authentic Brands Group (ABG), while its stores,…
Big Lots has received some good news, possibly saving hundreds of stores from closing. The company received approval from U.S. Bankruptcy Judge Kate Stickles on Tuesday for a last-minute sale that will keep 200 to 400 stores operating under new ownership. Judge Stickles approved the deal during a court hearing in Wilmington, Delaware, stating that…
