Clark & Washington

Bankruptcy News Around Atlanta

The United States has recently been hit hard by a series of store closures from iconic brand names. Unfortunately, the Atlanta area has not been immune from this spate of bad news.

Companies in Atlanta Filing for Bankruptcy

You may have heard of the following companies before. But, what you may not know is they are currently dealing with financial issues and filing for bankruptcy.


In March 2018, iHeartMedia, the company responsible for reporting the largest radio broadcast in the country, filed for Chapter 11 bankruptcy protection. An announcement by the company noted that it had successfully reached an agreement with the holders of $10 billion of iHeartMedia’s debt. The company also stated that the bankruptcy filing would have no effect on its radio stations, the programming or staff. This action, however, seems to put the landscape of American radio on shaky ground.

Winn Dixie

Also in March, Southeastern Grocers, the parent company of Winn Dixie, announced plans to close 94 stores in seven states -including Georgia – and file bankruptcy. These court-supervised bankruptcy proceedings are expected to reduce the company’s debt by at least $500 million. Southeastern Grocers also owns Harveys Supermarket, Bi-Lo and Fresco y Más and will continue to operate them across the southern portion of the United States.

Toys R Us

March wasn’t a good month for store closure announcements since that’s also when beloved toy store giant, Toys R Us, announced that it would close nearly 200 stores across the United States. Following a weak holiday season, Toys R Us filed for Chapter 7 bankruptcy liquidation. Though the toy retailer’s share of the industry was about 15 percent, it had recently faced stiff competition from the likes of Amazon, Target and Walmart, and its debt climbed to $5 billion. About two dozen Georgia Toys R Us locations are slated for closure including those in Atlanta and Alpharetta.


In July 2017, Starbucks announced that it would close all of its nearly 400 Teavana stores by spring 2018. This includes Georgia locations. One in Buford’s Mall of Georgia and a second at North Point Mall in Alpharetta.

Bankruptcies and store closings don’t just hit companies hard, individuals often find themselves in financial trouble as well. Clark & Washington is the largest bankruptcy filer in Georgia. If you are facing mounting debt and considering personal bankruptcy, contact us today at 770-285-1749 to schedule a free, no-obligation consultation with our friendly and experienced bankruptcy lawyers.

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