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August 7, 2018updated 08 Aug 2018 8:58am

US discount retailer National Stores files for Chapter 11 bankruptcy

National Stores, a discount retailer that operates the Fallas, Factory 2-U and other apparel stores, filed for Chapter 11 bankruptcy protection.

National Stores, a discount retailer that operates the Fallas, Factory 2-U and other apparel stores, filed for Chapter 11 bankruptcy protection.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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It has become the latest company in the US retail industry to experience financial issues as more consumers are opting for online shopping.

Set up in 1962, the California-based family owned company intends to shut down 74 of its 344 stores.

It employs over 9,800 people in Puerto Rico and 22 US states.

The company filed for bankruptcy due to tough retail landscape, high costs due to its acquisition of the Conway’s chain in 2014, dip in revenues as a result of Hurricane Harvey and Maria in 2017, and a data hack, which exposed information of over 552,000 cards last year, reported Reuters.

According to National Stores chief executive Michael Fallas, the firm plans to “compete in an evolving industry” after restructuring.

The chain targets low-income communities where consumers shop by price instead of the latest trend. On average, the products it sells are around $5 each.

“The firm plans to “compete in an evolving industry” after restructuring.”

Store closures will commence on Thursday.

As per the petition filed with the US Bankruptcy Court in Wilmington, Delaware, National Stores has assets and liabilities ranging from $100m to $500m.

The retailer is working with lenders and creditors on the reorganisation plan to emerge out of the bankruptcy.

Meanwhile, US mattress retailer Mattress Firm is exploring the option to file for bankruptcy as it looks at ways to come out of expensive store leases and shut some of its 3,000 locations that are not earning profits, reported CNBC.

San Francisco-based luxury department store Gump’s also filed for bankruptcy protection after exploring strategic alternatives. It filed for bankruptcy protection in Nevada Bankruptcy Court last week.  It intends to liquidate merchandise to pay off creditors.

Gumps and its affiliates reportedly have $61m in assets and $64m in liabilities.

Last week, speciality products retailer Brookstone also filed for bankruptcy and is in the process of closing all of its 101 mall stores. It blames the “continued deterioration of traditional mall traffic.”

Last year, its revenue dipped by 33%, far more than other mall-based chains.

Several retailers have filed for bankruptcy in the last two years. These include Gymboree, hhgregg, Claire’s, Toys R Us, and Wet Seal.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.