Thrifty Ice Cream, a beloved ice cream brand with roots dating back to 1940, is closing nearly 1,000 locations around the country as its parent company Rite Aid files for bankruptcy protection for the second time in less than two years. Rite Aid, a major U.S. pharmacy chain, has been struggling under heavy debt and stiff competition, which has forced it to close many stores and divest assets, ...
Major U.S. Movie Theater Chain Collapses Into Bankruptcy
The U.S. movie theater industry has taken a big blow from the COVID-19 pandemic as U.S. movie theater chain CMX Cinemas has filed for Chapter 11 bankruptcy a second time, five years after its first filing. The company, based in Miami, with assets between $100,001 and $500,000, has faced mounting challenges in addition to pandemic-related closures. This is yet another bankruptcy that ...
Nike Slams Tariffs—Warns $1B Price Surge Already Underway
Nike has warned investors that tariffs imposed by the Trump administration will cost the company approximately $1 billion in additional expenses this year, triggering a cascade of price increases and strategic shift across the industry. Nike CFO Matthew Friend, announced the company’s intention to implement “surgical” price hikes in the U.S. starting this fall to offset these costs. This ...
Is U.S. Shoe Manufacturing Possible Without Cheap Labor?
In Kentucky just outside of Louisville, the family-owned shoe company Keen plans to open a new factory, in line with the “America First” economic vision. This development is representative of the beginning of a manufacturing revival in the US. However, Keen’s own factory employs only 24 employees, relying heavily on automation such as robots that fuse soles and trim materials. This ...
US Pharmacy Chain to Close 100s More Stores Amid “Everything Must Go” Sales
Rite Aid, a once-dominant US pharmacy chain, is accelerating its store closures amid its financial struggles, filing for Chapter 11 bankruptcy protection for the second time in less than a year. The company recently filed for court approval to close another 118 stores, bringing the total planned closures to 1,000 locations nationwide. These closures are accompanied by aggressive "everything ...
Iconic US Hair Care Company Will Move Headquarters from California to Texas
John Paul Mitchell Systems, the iconic hair care manufacturers behind brands as Tea Tree and Clean Beauty products, is packing up its headquarters in California and relocating to Dallas,Texas. This shift is more than a simple relocation, though, it's a signal that the ripple effects of corporate migration out of California are gaining momentum. Founded in Beverly Hills with an expansive ...
JCPenney to Close Texas Warehouse and Fire 300 People
JCPenney announced plans to permanently shut down its Alliance Supply Chain facility in Haslet, Texas, resulting in almost 300 layoffs scheduled in two phases between August and November 2025. This closure marks a significant operational shift for the retailer and indicates larger issues beyond simply closing a warehouse. The move is positioned as a necessary step to build a stronger, more ...
Major Alcohol Distributor Pulls Out of California Over State’s Policies
In a stunning blow to the beverage business, Republic National Distributing Company (RNDC), the second largest alcohol distributor in the country, has declared that they will exit California, as of September 2, 2025. The move follows a tumultuous year marked by supplier losses business and other challenges, leading many in the industry scrambling for answers and alternatives. But what else ...