Costco and Joske’s: Two retail chains to file for bankruptcy

Costco has filed for Chapter 11 bankruptcy protection.

The company said in a statement that it was in discussions with creditors.

The bankruptcy filing comes as Joske & Ashley Group’s (J&A) parent company, Joske, has said it expects to raise $200 million to buy the chain out of bankruptcy.

Joske, which is headquartered in New Jersey, has been struggling with rising costs and debt.

Earlier this year, it said it planned to shutter 11 locations, citing rising debt payments and declining sales.


Ashley said in July it was considering closing its stores in India and the U.K.

Costco has been trying to diversify its business model.

In June, it launched a mobile ordering platform called Shopify that lets customers order products from online retailers like Walmart and Amazon.

Costex is also planning to shutter three of its retail stores.

The retail chain announced on July 31 that it would shutter its five stores in Florida and Florida’s Tallahassee, which has the second-largest number of stores in the U, and a store in New York City.

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