The Securities and Exchange Commission (SEC) settled charges with Express, Inc., in which it alleged that the fashion retailer failed to disclose executive compensation paid to its now-former CEO in fiscal years 2019, 2020 and 2021. Express Inc.’s failure to disclose $979,269 worth of perks...
Big Lots’ Chapter 11 bankruptcy filing and upcoming acquisition by Nexus Capital Management revealed the deep-rooted issues in the company’s business model, particularly its struggle to adapt to the digital age. In a previous interview with PYMNTS, Sudip Mazumder, SVP, retail industry lead, North America at digital...
Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business as a “debtor-in-possession” under the jurisdiction of the bankruptcy court. None of its subsidiaries are...
New government data shows American consumer debt continuing to grow. The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit Wednesday (Nov. 13), showing a slight uptick in total household debt during the third quarter, up 0.8%...
December 16, 2024
Big Lots’ Chapter 11 bankruptcy filing and upcoming acquisition by Nexus Capital Management revealed the deep-rooted issues in the company’s business model, particularly its struggle to adapt to the digital age. In a previous interview with PYMNTS, Sudip Mazumder, SVP, retail industry lead, North America at digital consultancy Publicis Sapient, said Big Lots relied on a traditional brick-and-mortar […]
June 21, 2024
The relationships between FinTechs, banks and neobanks has been placed under a harsh spotlight with the recent revelations around the Synapse bankruptcy. The reaction from the industry so far has...
June 17, 2024
The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...
June 10, 2024
The drama surrounding the Synapse Financial bankruptcy continued Friday (June 7) with an afternoon court hearing in California’s Central District Bankruptcy Court, although the case appeared no closer to a...
December 19, 2024
Big Lots said Thursday (Dec. 19) that it is preparing to begin going out of business (GOB) sales at all its remaining stores after determining that it no longer expects to complete its previously announced sale to Nexus Capital Management. The closeout retailer said in a press release that it is still working toward completing an […]
December 17, 2024
The Securities and Exchange Commission (SEC) settled charges with Express, Inc., in which it alleged that the fashion retailer failed to disclose executive compensation paid to its now-former CEO in...
November 13, 2024
Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business...
November 13, 2024
New government data shows American consumer debt continuing to grow. The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit Wednesday (Nov....
