Consumers whose wallets are bulging with gift cards issued by now-bankrupt retailers should think about spending them now — since they may become worthless. In fact, it’s the bankrupt retailers that may pocket the millions of dollars in unused prepaid gift cards. “The time to...
It’s the end of the workweek, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into the outlook of consumers during the COVID-19 pandemic, data privacy and a shelved...
September 11, 2020
J.Crew Group has finished its financial reorganization and emerged from Chapter 11 set for expansion over the long haul, according to a statement from the company. Anchorage Capital Group, L.L.C. has assumed majority ownership of J.Crew Group as part of its restructuring. In addition, J.Crew Group has “equitized” over $1.6 billion of secured loans as part of […]
June 09, 2020
Consumers whose wallets are bulging with gift cards issued by now-bankrupt retailers should think about spending them now — since they may become worthless. In fact, it’s the bankrupt retailers...
