October 22, 2019 / 12:17 AM / a month ago

Retailer Destination Maternity files for Chapter 11

Maternity apparel retailer Destination Maternity Corp filed for Chapter 11 bankruptcy protection on Monday, blaming a drop in shopping at bricks-and-mortar stores, increased competition and a decrease in birth rates that cut into its revenue.

The retailer also said in papers filed in U.S. Bankruptcy Court in Delaware that it had been struggling with management turnover that included five different chief executive officers in the past five years and overly complicated operations it could not correct due to a cash shortage.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2N0NPBz

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