Seafood chain Red Lobster has abruptly closed at least 48 of its location across the U.S., according to reports, as the company navigates troubled financial waters.

The U.S. retail industry has faced hundreds of store closures and liquidations this year as once popular retailers struggle to keep their brick-and-mortar operations relevant for shoppers.

In a prepackaged plan, KidKraft and its U.S. and Canadian affiliates has filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Northern District of Texas, the toy company announced Friday.

Just a week after iconic music retailer Sam Ash Music announced it was closing its doors, the chain officially filed for Chapter 11 bankruptcy.

For decades, Munch’s Make Believe Band at Chuck E. Cheese has performed for countless birthdays, end-of-season Little League parties and other celebrations. There’s been Chuck E. Cheese and Helen Henny on vocals, Mr. Munch on keys, Jasper T. Jowls on guitar, and Pasqually on drums.

Early last week, Steward Health Care, operator of the third largest hospital system in Massachusetts, and one of the state's largest employers, declared bankruptcy.

Loyal customers help a retail chain stay afloat and can sometimes even drive their business. Ollie's Bargain Outlets, for example, does not have to market its new store openings because its loyal customers, the so-called Ollie's Army, does it for them.

On May 9, BlockFi, which was a popular crypto lending platform, announced the closure of its web platform. It is partnering with Coinbase, a US-based crypto exchange, to manage and distribute assets.

Air Vanuatu filed for bankruptcy protection on Friday a day after the South Pacific state-owned carrier cancelled all international flights, stranding thousands of travelers.

The former Bed Bath & Beyond Inc., seeking to generate cash for its creditors, sued to recover more than $300 million in trading profits from Hudson Bay Capital Management, the hedge fund at the center of a last-ditch financing plan that failed to prevent the retailer’s collapse.

AGG's Bankruptcy, Creditors' Rights, & Financial Restructuring team provides valuable knowledge and experience in the areas of commercial debt restructuring, settlements, bankruptcy trusteeships, fiduciary work, and bankruptcy and creditors’ rights litigation.