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Article Date: January 2021
Word Count: 237

Belk Enters Pre-Packaged Bankruptcy

The struggling department store chain has entered into a restructuring support agreement with majority shareholder Sycamore Partners and debt holders that leaves trade suppliers unimpaired and allows Belk to continue normal operations. The bankruptcy filing was not yet available as we went to press, but the retailer said in a release that suppliers “will continue to be paid in the ordinary course for all goods and services provided to the company.” As with JCPenney and Sears, the 300-door southeastern U.S. chain counts a broad range of sneaker and activewear brands among its suppliers, but in this case they will fare ... Log in to view full article.


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