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The company would start a wind down of its retail and wholesale operations as it prepares to shutter nearly 700 stores nationwide.
The announcement comes after the company warned of ’substantial doubt' over continued operations.
Restaurant chain Chuck E. Cheese parent CEC Entertainment filed for Chapter 11 bankruptcy on Thursday.
Sporting goods retailer Modell’s Sporting Goods filed for Chapter 11 protection in the U.S. bankruptcy court in New Jersey on Wednesday.
California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp.
