Former BL Stores layoffs, on the record
Every job cut, severance charge and restructuring Former BL Stores reported in its annual reports, 2022 to 2024, quoted from the filings.
Job cuts, severance and restructuring
Our summaryAnnounced a transformational restructuring initiative called Operation North Star to drive growth and reduce costs.
Word for word“In March 2019, we announced a transformational restructuring initiative, referred to as “Operation North Star,” to both drive growth in our net sales and reduce costs within our business.” 10-K for 2022
Our summaryIncurred upfront costs for the Operation North Star initiative, including employee severance costs and consultancy fees.
Word for word“With the initial implementation of this initiative in 2019, we incurred upfront costs, including employee severance costs and consultancy fees, and made payments to execute the initiative of $ 38.3 million.” 10-K for 2022
Our summaryExited the greeting cards department and recorded an inventory impairment charge.
Word for word“In 2019, our cost of sales included a $6.0 million charge for impairment of inventory in our greeting cards department, which we chose to exit in the first quarter of 2019.” 10-K for 2022
| Fiscal year ended | Restructuring charges |
|---|---|
| 2020-02-01 | $38.3 million |
Former BL Stores has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Former BL Stores’s annual reports (10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2024-04-18. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.