Headlines

Belk Emerges from Chapter 11

Restructuring positions the retailer for future growth

Published

4 years ago

February 25, 2021

VMSD Staff

Belk has completed its financial structuring and has emerged from bankruptcy under a plan that allows it to pay its vendors, has no impact on employees and will allow the retailer to keep all stores open, according to a press release.

“We are pleased to have received nearly unanimous support from all of our stakeholders to complete this restructuring in just one day, positioning us to pursue our growth initiatives and move the company forward from a strengthened financial foundation,” said Lisa Harper, Belk CEO.

The restructuring will eliminate $450 million of debt and provide $225 million in new capital for growth initiatives.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design