SGB Update Apparel

REI’s Westminster Location Closes On Monday
REI is closing its store in Westminster, CO after failing to reach a new agreement with the Orchard Town Center’s landlord, according to the Denver Post.

Modell’s Seeks Extension To File Bankruptcy Plan
Modell’s Sporting Goods is seeking a three-month extension of the time it has to file its bankruptcy plan due to challenges liquidating merchandise due to the pandemic. The retailer said its stores are now opening to start GOB sales.

The North Face And REI Pull Ads From Facebook
The North Face and REI both said they would temporarily stop buying Facebook ads in solidarity with calls for a boycott from civil rights organizations. Facebook and CEO Mark Zuckerberg have come under fire for allowing racist content and disinformation to propagate on the site.

Neiman Marcus Secures Bankruptcy Financing
Neiman Marcus Group LTD LLC announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of Texas Division to access debtor-in-possession (“DIP”) financing and is on track to exit bankruptcy proceedings by the fall.

International Council Of Shopping Centers Launches ‘Back. Together.’ Campaign
The International Council of Shopping Centers, the member network serving the retail real estate industry, has launched its “Back. Together.” campaign, a marketing and branding initiative to help its members communicate with one voice about the importance of retailers and retail real estate as the country seeks to recover from the COVID-19 pandemic.

Reports: Japan’s Renown May Face Liquidation
Japan’s Renown Inc., best known for its D’Urban and Arnold Palmer apparel brands, filed for bankruptcy in May and is on the facing liquidation, according to reports.

Delta Apparel Opening New Integrated Digital Print And Distribution Facility In Phoenix
Delta Apparel, Inc. is expanding its digital print business with the opening of a new integrated digital print and distribution facility in Phoenix, AZ, combining DTG2Go’s digital print business with Delta Apparel’s own supply of garments.

NGF Update: 20 Million Spring Rounds Lost To Covid-19
The U.S. golf industry lost as many as 20 million rounds of golf in March and April due to course closures and coronavirus-induced anxiety, according to the most recent National Golf Foundation estimates.

New Balance Makes Juneteenth A Paid Holiday
New Balance announced plans to close all operations, including owned stores, on Friday in observance of Juneteenth, which takes place on June 19 and commemorates the end of slavery in the United States.

J.C. Penney Reaches Deal To Resume Nike Shipments
J.C. Penney Co., which filed for bankruptcy last month, won court approval to free up $30 million in Nike products that the sportswear giant had been holding back in a dispute over allegedly unpaid pre-Chapter 11 bills.

Target Bumps Starting Minimum Wage to $15/Hour, Adds Frontline Worker Bonus
Target will permanently raise its starting wage for U.S. employees to $15 per hour, commencing July 5, 2020. The move was announced with a range of updates and extensions to its pay and benefits programs.

Emerald Releases Preparedness, Prevention And Response Plan
Emerald Holding, Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, announced its commitment to providing an elevated standard of health and safety protocols in preparation for the anticipated reopening of the company’s live events.

Liquidation Sales Begin At 137 J.C. Penney Locations
A team of disposition firms consisting of Gordon Brothers, Hilco Merchant Resources, Great American Group, and Tiger Group announced that they have commenced store closing sales at 137 J.C. Penney Company Inc. stores. The closures are the Company’s first step in implementing a planned store optimization strategy after filing for bankruptcy last month.

2020 U.S. Open To Be Held Without Fans
The 2020 US Open is set to be played at the USTA Billie Jean King National Tennis Center in Flushing Meadows, NY on its originally scheduled dates of August 31 to September 13 although no fans will be on-site.

Senate Passes Great American Outdoors Act
The U.S. Senate voted 73-25 to passed the bipartisan Great American Outdoors Act, landmark conservation legislation that fully funds the Land and Water Conservation Fund (LWCF) at a level of $900 million every year and addresses the approximately $20 billion maintenance backlog on federal public lands.