FINANCE

One of the country’s oldest apparel retailers may be moving closer to bankruptcy.

CBL & Associates, which owns 108 properties, has serious doubts about its future amid skipped rent payments from retail tenants due to the COVID-19 pandemic. 

Tuesday Morning Corp. is partnering with B. Riley Financial to help support the retailer’s reorganization through bankruptcy.

Gap Inc. swung to a $932 million net loss in its first quarter as its stores remained dark for much of the period.

The Michaels Cos. swung to a first-quarter loss and missed bottom and top-line expectations as its stores went dark shuttered temporarily during COVID-19 pandemic.

The biggest mall owner in the U.S. is suing one of its most important in-line tenants. 

After a disappointing April, Costco Wholesale Corp. returned to form sales-wise in May.

G-III Apparel Group Ltd. is restructuring its retail operations segment and reducing its store portfolio to focus on its wholesale business.