Groupe Dynamite files for Creditors protection

Another retailer was killed by the pandemic. On September 9th, Groupe Dynamite, owners of the Dynamite and Garage chain filed for creditors protection and will be filing for Chapter 15 Bankruptcy in the US. It's unknown right now how many stores are going to close, but I can confirm that the one in the blog's coverage area already closed with signage intact. They operate 400 stores under both banners.

Source: https://www.retail-insider.com/retail-insider/2020/9/groupe-dynamite-files-for-and-obtains-creditor-protection-amid-pandemic-struggles

Comments

  1. Retail RetellSeptember 12, 2020 at 2:36 PM

    A Chapter 15 bankruptcy filing was a new one for me, lol. Jokes aside though, this is sad to hear, as always. So many companies have been adversely affected by this pandemic: not only the virus threat itself, but also all the shutdowns and restrictions that seemingly arbitrarily choose what is "essential" and what is not...

    ReplyDelete
    Replies
    1. DomSeptember 12, 2020 at 3:02 PM

      I've never heard of a chapter 15 too. According to Wikipedia, it has to do with international cases. I agree, this pandemic and shutdown impacted a lot of industries, especially retail.

      Delete

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