Private equity and disappearing chains
Since January 2015, more than 40 percent of the 43 parent companies representing 52 retail and supermarket chains in the nation that filed for bankruptcy were owned by private equity firms. Many of those bankruptcies involved some of the largest debt ranges in the 28-month period. Newsday examined retailers with 10 or more brick-and-mortar locations nationwide and excluded e-commerce sites, restaurants and food establishments. Twenty-one of the 43 parent companies had a Long Island presence. You can read more about the bankruptcies and private equity here.
Data came from S&P Global Market Intelligence, BankruptcyData, AlixPartners, Moody's Investors Service, bankruptcy court records and published accounts, and was compiled by Newsday Special Writer Aisha Al-Muslim and researchers Caroline Curtin and Laura Mann. This data was posted on April 21, 2017.
| Headquarters | Chains | Ownership | Company type | Operating status | Long Island presence | Bankruptcy date | Bankruptcy outcome | Assets | Liabilities |
|---|---|---|---|---|---|---|---|---|---|
| Headquarters New York | Chains Aéropostale | Ownership Sycamore Partners | Company type Private equity | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 05/04/2016 | Bankruptcy outcome Sold | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters California | Chains American Apparel | Ownership Monarch Alternative Capital LP | Company type Private equity | Operating status Closing all stores | Long Island presence Yes | Bankruptcy date 11/14/2016 | Bankruptcy outcome Sold | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters California | Chains Anna's Linens | Ownership Anna's Linens Inc. | Company type Privately owned | Operating status Closed all stores | Long Island presence No | Bankruptcy date 06/14/2015 | Bankruptcy outcome Liquidated | Assets $50 million to $100 million | Liabilities $100 million to $500 million |
| Headquarters Texas | Chains Backwoods | Ownership Jo-Jo Holdings Inc. | Company type Privately owned | Operating status Operating; closed some stores | Long Island presence No | Bankruptcy date 11/09/2016 | Bankruptcy outcome Sold | Assets $1 million to $10 million | Liabilities $10 million to $50 million |
| Headquarters California | Chains BCBG Max Azria | Ownership Guggenheim Partners Investment Management LLC | Company type Private equity | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 02/28/2017 | Bankruptcy outcome Ongoing | Assets $100 million to $500 million | Liabilities $500 million to $1 billion |
| Headquarters Florida | Chains Body Central | Ownership Body Central Corp. | Company type Public | Operating status Closed all stores | Long Island presence No | Bankruptcy date 01/09/2015 | Bankruptcy outcome Liquidated | Assets $50 million to $100 million | Liabilities $50 million to $100 million |
| Headquarters New York | Chains C. Wonder | Ownership C. Wonder LLC | Company type Privately owned | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 01/22/2015 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $50 million to $100 million |
| Headquarters New York | Chains Cache | Ownership Cache Inc. | Company type Public | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 02/04/2015 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $50 million to $100 million |
| Headquarters California | Chains Cathy Jean Shoes | Ownership Cathy Jean Inc. | Company type Privately owned | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 11/09/2016 | Bankruptcy outcome Liquidated | Assets Unknown | Liabilities Unknown |
| Headquarters Massachusetts | Chains City Sports | Ownership Highland Consumer Fund | Company type Private equity | Operating status Closed all stores; operating online | Long Island presence No | Bankruptcy date 10/05/2015 | Bankruptcy outcome Emerged/Reorganized | Assets $10 million to $50 million | Liabilities $10 million to $50 million |
| Headquarters Indiana | Chains DirectBuy | Ownership Bayside Capital Inc.; PennantPark Investment Corp. | Company type Private equity | Operating status Closed most stores; operating online | Long Island presence Yes | Bankruptcy date 11/01/2016 | Bankruptcy outcome Sold | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters Connecticut | Chains Eastern Outfitters, LLC, parent company of Bob's Stores and Eastern Mountain Sports | Ownership Versa Capital Management | Company type Private equity | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 02/05/2017 | Bankruptcy outcome Sale approved | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters New York | Chains Fairway Market | Ownership Sterling Investment Partners | Company type Private equity | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 05/02/2016 | Bankruptcy outcome Emerged/Reorganized | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters Michigan | Chains Family Christian | Ownership Family Christian LLC | Company type Privately owned | Operating status Closed all stores | Long Island presence No | Bankruptcy date 02/11/2015 | Bankruptcy outcome Liquidated | Assets $50 million to $100 million | Liabilities $50 million to $100 million |
| Headquarters California | Chains Frederick's of Hollywood | Ownership Harbinger Group | Company type Private equity | Operating status Closed all stores; operating online | Long Island presence Yes | Bankruptcy date 04/19/2015 | Bankruptcy outcome Emerged/Reorganized | Assets $10 million to $50 million | Liabilities $100 million to $500 million |
| Headquarters California | Chains Fresh & Easy | Ownership Yucaipa Companies | Company type Private equity | Operating status Closed all stores | Long Island presence No | Bankruptcy date 10/30/2015 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $100 million to $500 million |
| Headquarters Colorado | Chains Fresh Produce | Ownership Fresh Produce Holdings LLC | Company type Privately owned | Operating status Operating; closed some stores | Long Island presence No | Bankruptcy date 04/02/2015 | Bankruptcy outcome Sold | Assets $10 million to $50 million | Liabilities $10 million to $50 million |
| Headquarters Minnesota | Chains Gander Mountain | Ownership Gander Mountain Company Inc. | Company type Privately owned | Operating status Operating; closed some stores | Long Island presence No | Bankruptcy date 03/10/2017 | Bankruptcy outcome Ongoing | Assets $500 million to $1 billion | Liabilities $500 million to $1 billion |
| Headquarters Texas | Chains Golfsmith | Ownership First Atlantic Capital | Company type Private equity | Operating status Operating | Long Island presence Yes | Bankruptcy date 09/14/2016 | Bankruptcy outcome Sold | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters Nebraska | Chains Gordmans Stores | Ownership Gordmans Stores Inc. | Company type Public | Operating status Operating; closed some stores | Long Island presence No | Bankruptcy date 03/13/2017 | Bankruptcy outcome Ongoing | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters New Jersey | Chains Great Atlantic & Pacific Tea Company, Inc., parent company of A&P, Waldbaum's, Pathmark, Food Emporium, Super Fresh, and Food Basics | Ownership Mount Kellett Capital Management; Yucaipa Companies | Company type Private equity | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 07/19/2015 | Bankruptcy outcome Liquidated | Assets $1 billion to $10 billion | Liabilities $1 billion to $10 billion |
| Headquarters Washington | Chains Haggen | Ownership Comvest Partners | Company type Private equity | Operating status Closed all stores | Long Island presence No | Bankruptcy date 09/08/2015 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $10 million to $50 million |
| Headquarters Mississippi | Chains Hancock Fabrics | Ownership Hancock Fabrics Inc. | Company type Public | Operating status Closed all stores | Long Island presence No | Bankruptcy date 02/02/2016 | Bankruptcy outcome Liquidated | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters Texas | Chains Hastings Entertainment.; MovieStop; SP Images | Ownership Draw Another Circle LLC | Company type Privately owned | Operating status Closed all stores | Long Island presence | Bankruptcy date 06/13/2016 | Bankruptcy outcome Liquidated | Assets $0 to $50,000 | Liabilities $50 million to $100 million |
| Headquarters Indiana | Chains HHGregg | Ownership hhgregg, Inc. | Company type Public | Operating status Closing all stores | Long Island presence No | Bankruptcy date 03/06/2017 | Bankruptcy outcome Ongoing | Assets $0 to $50,000 | Liabilities $0 to $50,000 |
| Headquarters New Jersey | Chains Joyce Leslie | Ownership Joyce Leslie Inc | Company type Privately owned | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 01/09/2016 | Bankruptcy outcome Liquidated | Assets $1 million to $10 million | Liabilities $1 million to $10 million |
| Headquarters Illinois | Chains Marbles: The Brain Store | Ownership Amzak Capital Management | Company type Private equity | Operating status Operating; closed some stores | Long Island presence No | Bankruptcy date 02/03/2017 | Bankruptcy outcome Ongoing | Assets $1 million to $10 million | Liabilities $10 million to $50 million |
| Headquarters New Jersey | Chains Marburn Curtains | Ownership Marburn Stores, Inc. | Company type Privately owned | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 03/13/2015 | Bankruptcy outcome Emerged/Reorganized | Assets $1 million to $10 million | Liabilities $1 million to $10 million |
| Headquarters Michigan | Chains MC Sports | Ownership Michigan Sporting Goods Distributors, Inc. | Company type Privately owned | Operating status Closed all stores | Long Island presence No | Bankruptcy date 02/14/2017 | Bankruptcy outcome Liquidated | Assets $50 million to $100 million | Liabilities $50 million to $100 million |
| Headquarters New York | Chains Organic Avenue | Ownership Weld North | Company type Private equity | Operating status Closed all stores | Long Island presence No | Bankruptcy date 10/15/2016 | Bankruptcy outcome Liquidated | Assets $1 million to $10 million | Liabilities $1 million to $10 million |
| Headquarters California | Chains PacSun | Ownership Pacific Sunwear of California Inc. | Company type Public | Operating status Operating; closed some stores | Long Island presence No | Bankruptcy date 04/07/2016 | Bankruptcy outcome Sold | Assets $50 million to $100 million | Liabilities $100 million to $500 million |
| Headquarters Kansas | Chains Payless | Ownership Golden Gate Capital; Blum Capital Partners | Company type Private equity | Operating status Operating; closing some stores | Long Island presence Yes | Bankruptcy date 04/04/2017 | Bankruptcy outcome Ongoing | Assets $500 million to $1 billion | Liabilities $1 billion to $10 billion |
| Headquarters California | Chains Quiksilver | Ownership Quiksilver Inc. | Company type Public | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 09/09/2015 | Bankruptcy outcome Sold | Assets $100 million to $500 million | Liabilities $500 million to $1 billion |
| Headquarters Texas | Chains RadioShack | Ownership Standard General | Company type Hedge-fund owned | Operating status Operating; closed some stores | Long Island presence Yes | Bankruptcy date 03/08/2017 | Bankruptcy outcome Ongoing | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters New York | Chains Ruum American Kid's Wear | Ownership Ezrani 2 Corp. | Company type Privately owned | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 06/18/2015 | Bankruptcy outcome Liquidated | Assets $100,000 to $500,000 | Liabilities $50 million to $100 million |
| Headquarters California | Chains Shasa | Ownership Shasa USA, LLC | Company type Privately owned | Operating status Closed some stores | Long Island presence No | Bankruptcy date 02/04/2015 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $10 million to $50 million |
| Headquarters Alabama | Chains Simply Fashion and Dots | Ownership Simply Fashion Stores Ltd | Company type Privately owned | Operating status Closed all stores | Long Island presence No | Bankruptcy date 04/16/2016 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $10 million to $50 million |
| Headquarters Colorado | Chains Sports Authority | Ownership Leonard Green & Partners | Company type Private equity | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 03/02/2016 | Bankruptcy outcome Liquidated | Assets $1 billion to $10 billion | Liabilities $1 billion to $10 billion |
| Headquarters Ohio | Chains The Limited | Ownership Sun Capital Partners | Company type Private equity | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 01/17/2017 | Bankruptcy outcome Liquidated | Assets $10 million to $50 million | Liabilities $100 million to $500 million |
| Headquarters Missouri | Chains Total Hockey | Ownership Total Hockey Inc. | Company type Privately owned | Operating status Operating | Long Island presence No | Bankruptcy date 07/06/2016 | Bankruptcy outcome Sold | Assets $10 million to $50 million | Liabilities $50 million to $100 million |
| Headquarters Virginia | Chains USA Living; Fletcher?s Jewelers | Ownership USA Discounters, Ltd. | Company type Privately owned | Operating status Closed all stores | Long Island presence No | Bankruptcy date 08/24/2015 | Bankruptcy outcome Liquidated | Assets $100 million to $500 million | Liabilities $100 million to $500 million |
| Headquarters North Dakota | Chains Vanity | Ownership Vanity Shop of Grand Forks, Inc. | Company type Privately owned | Operating status Closed all stores | Long Island presence No | Bankruptcy date 03/01/2017 | Bankruptcy outcome Liquidated | Assets $50,000 to $100,000 | Liabilities $10 million to $50 million |
| Headquarters California | Chains Wet Seal | Ownership Versa Capital Management | Company type Private equity | Operating status Closed all stores | Long Island presence Yes | Bankruptcy date 02/02/2017 | Bankruptcy outcome Sold | Assets $10 million to $50 million | Liabilities $50 million to $100 million |
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