Last year, more than 2,000 high street shops closed for good. This year, brands have already announced their planned store closures for 2024. According to the British Retail Consortium, 6,000 retail outlets have closed since 2018. In 2024, small businesses and big brands are still facing the financial effects of the COVID-19 pandemic, the Ukraine-Russia … Read more
Some small business owners in Canada are asking for the federal government to reckon with the challenges they face as they confront a looming deadline to repay a portion of emergency government loans issued during the pandemic. Businesses face a Jan. 18 deadline to pay back up to $60,000 in loans received through the Canada Emergency Business … Read more
Guanella Pass Brewing, which has locations in Georgetown and Empire, is bankrupt. The 7-year-old brewery filed for Chapter 11 bankruptcy on Dec. 30. It has $2.3 million in debt, far more than the $860,000 in gross revenue that it earned in 2023. Guanella Pass became Georgetown’s first brewery since Prohibition when it opened in May 2017 at … Read more
By Ramishah Maruf | CNN It’s been a rough year for some household-name US retailers and businesses. As the economy emerged out of the Covid-19 pandemic, companies faced a laundry list of problems arising from high costs, supply shortages and growing competition. As a result, several big names filed for bankruptcy in 2023. A bankruptcy … Read more
The U.S. online retailer Zulily is closing down, surprising customers and laying off hundreds of workers after efforts to salvage the business failed. The Seattle-based company said in a notice on its website that it had tried to fill all pending orders and expected to manage that within the coming two weeks. Zulily said it … Read more
Despite its penchant for raw food in the kitchen, Sushi Ronin is burning money in the courtroom. The LoHi sushi joint filed for Chapter 11 bankruptcy protection last month, nearly three years into a nasty legal battle between the business’ majority owner and initial investor, where each alleges misconduct and blames the other for the … Read more
