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Is Forever 21 going out of business? Stores closing, locations in peril as retailer files for 2nd bankruptcy

Fast Company Tech

The company that operates the fast-fashion retail brand, called F21 OpCo, LLC, has filed for Chapter 11 bankruptcy protection in a Delaware court. Like Joann, Forever 21 is now in its second bankruptcy; it also filed for Chapter 11 protection in 2019, just months before the pandemic. Forever 21 is facing another bankruptcy.

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Filing: Instant grocery startup Gopuff to raise $1B on a $15B post-money valuation

TechCrunch

Documents uncovered by Prime Unicorn Index and shared with TechCrunch show that the startup has filed papers in Delaware to raise up $1 billion raise at a $14 billion pre-money valuation. As with all Delaware filings, they only tell part of the story, so the company might ultimately raise more or less before the round closes.

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Online learning marketplace Udemy is raising up to $100M at a $3.32B valuation

TechCrunch

The company has filed paperwork for the fundraise in Delaware, first discovered by Justin Byers and the team at Prime Unicorn Index. “We have a company policy where we don’t comment on speculations,” a spokesperson said to me via email.

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Big Lots store closures update: Other retailers are swooping in to take over locations in several states

Fast Company Tech

Several retail companies, including some with ties to nationally recognized brands, have stepped in to take over leases on Big Lots stores in at least 12 different states, according to recent court filings. The list includes locations in Delaware, Pennsylvania, Massachusetts, Maryland, Maine, New Jersey, New York, and Vermont.

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Faraday Future founder’s bankruptcy spiked a potential deal in the Middle East

The Verge

But the wealth fund retracted the invite shortly after Faraday Future founder Jia Yueting filed for bankruptcy to resolve billions of dollars of personal debt , according to a previously unreported transcript of one of the Chinese tycoon’s Chapter 11 proceedings. “We He borrowed $2.7 for $43,810 per month in 2019. Warm Time Inc.

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Why Elon Musk offered to buy the OpenAI nonprofit

Recode by Vox

OpenAI did not reply to a request for comment on Musks bid for the nonprofits assets. Musks lawyers said in a filing on Wednesday that he would abandon his offer if OpenAI agreed to stop its for-profit conversion. Otherwise, they said in the filing, the charity must be compensated by what an arms-length buyer will pay for its assets.

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Alabama warehouse workers prepare to face down Amazon in union vote

The Verge

The only other US Amazon employees to make it as far as a union election was a smaller group of maintenance workers at a Delaware warehouse in 2014. A month later, they had collected enough signatures supporting an election to feel confident filing a petition with the National Labor Relations Board.

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