Chapter 11

Other businesses with massive brick-and-mortar portfolios, such as Express and Rue21, have also filed for Chapter 11 — a form of bankruptcy that allows businesses to restructure their debts without fully closing.

Why any business leader would take management advice from Trump, who has filed for Chapter 11 bankruptcy protection six different times, remains unclear.

The retailer emerged from a previous Chapter 11 bankruptcy process last April after eliminating $505 million in debt.

The party supply chain Party City announced last month it would be shutting down operations, after filing for and emerging from Chapter 11 bankruptcy in 2023.

FRG filed for Chapter 11 bankruptcy in November, a move that led to hundreds of millions of dollars of losses for B. Riley.