Montgomery Community Media

UPDATE Guitar Center in Silver Spring will close as of Jan. 3, according to a statement from the company. “As part of our ongoing business processes and after careful consideration, Guitar Center has made the decision to close our retail store in Silver Spring, MD, effective January 3rd,” the news release stated. ___________________________ Guitar Center, […]

Guitar Center filed for Chapter 11 bankruptcy to reduce company debt by approximately $800 million, according to a company press release last week. The California-based company entered a comprehensive Restructuring Support Agreement (RSA). However, all previous agreements, financial obligations to its vendors, suppliers, and employees to maintain the course as daily business operations continue. The […]

Struggling to turn a profit amid the coronavirus pandemic, two more major retailers have filed for bankruptcy. Lord & Taylor, America’s first high-end department store, and Tailored Brands, the parent company of JoS. A. Bank, filed for Chapter 11 protection. The two large retailers are the latest casualties of COVID-19, as economic shutdowns forced non-essential […]

The Chuck E. Cheese in Gaithersburg has closed permanently. The news comes as Chuck E. Cheese’s parent company, CEC Entertainment, announced in a statement Thursday it was filing for Chapter 11 bankruptcy “in order to overcome the financial strain resulting from prolonged, COVID-19 related venue closures.” “The Company expects to use the time and legal […]

J.Crew Group, which operates several clothing stores in the Washington, D.C. area, has filed for bankruptcy in an attempt to restructure its debt. In Montgomery County, J.Crew has a store in the Montgomery Mall in Bethesda and a factory outlet at Clarksburg Premium Outlets. The company announced Monday that it had reached a deal with […]

The Boy Scouts of America (BSA) filed for bankruptcy Tuesday in the midst of hundreds of sexual abuse lawsuits from former scouts who say they were abused by leaders.  This means that civil litigation is halted, and there will be no jury trial. Alleged victims with lawsuits now have to file in bankruptcy court. The […]

Bar Louie’s Rockville and Wheaton locations are among the chain’s 38 locations to close over the weekend. A statement released by Bar Louie on Monday confirmed that the organization has filed for Chapter 11 bankruptcy protection and said it was closing  “underperforming locations to strengthen its operational and financial position.” Tom Fricke, CEO of Bar […]

Forever 21 and F.Y.E will be closing at Lakeforest Mall in Gaithersburg.   Forever 21 is expected to close 111 locations in the U.S. after filing for bankruptcy in September. The fast-fashion retailer released a revised list of possible store closings. The Lakeforest location is one of the few in Montgomery County that was planned to continue operating but […]

Bankruptcy is an unattractive way to get out of debt. But one of our clients chose this path, and she’s never been happier. Meet Sue Sue (not her real name) is a single mom who works in Bethesda and lives in Prince George’s County. Half of her monthly take home pay goes to rent, and […]

News reports say national toy retailer Toys R Us filed for bankruptcy Monday and a local blogger who watches retail industry says the year has had a record number of closings of stores across the country. Cheryl Kane Heimlich, who writes the Store Reporter blog, said, “People are calling this a retail apocalypse. This is […]