More and more retailers are inching closer to the edge, as the list of troubled ones grows by the day. Discount footwear chain Payless ShoeSource is allegedly planning to file for bankruptcy protection under Chapter 11 as soon as next week, and plans to close 400 to 500 stores, according to a report Wednesday morning by Bloomberg. A Payless spokeswoman declined to comment. In February, it was reported that Payless would close 1,000 stores, and, in January, the company announced the elimination of 150 employees. Facing $650 million in debt, Payless, which was taken private by private equity firms Golden Gate Private Equity and Blum Capital Partners in a 2012, $2 billion buyout of parent company
March 30 is the deadlineGettyCouple relaxing in swimming pool on hotel rooftop.DMAMBMCMDMEMGPREVIEWZBZBRZDZQZRZSZTZUIf you’re OK with getting paid $10,000 a month to travel the world and stay at “some of the most desired resorts and homes across the
With the Street buzzing about asset manager BlackRock's decision to let machines play the market, Jim Cramer defended stock-picking for individual investors, arguing that some stocks are simply too good not to buy out of fear of messing up. Financial professionals manage hoards of money that can't be bolstered by owning individual stocks, so they can erode their own success by creating massive, index-fund-like portfolios that don't perform very well, Cramer explained. While he is a believer in index funds, Cramer knows that the individual investor does not have piles of money to look after, and in those cases, individual stocks can move the needle. "Which brings me back to the strength of tech this year and your ability to spot high quality tech stocks as a do-it-yourself investor," Cramer said, turning to three obvious winners as examples.