Banking

Huge Wendy’s and Pizza Hut franchisee files for bankruptcy

New York CNN Business — NPC International, the operator of 1,200 pizza hut and nearly 400 Wendy’s restaurants in the United States, filed for bankruptcy. The franchise faced a perfect storm of issues that led to its Chapter 11 filing on Wednesday, including coronavirus-related shutdowns, massive debt loads of nearly …

Read More »

Certain Home Depot Ceiling Fans Recalled After Blades Detached

Imagine a large fan blade from your ceiling fan flying straight at you. It’s definitely not something you would want to deal with if you’re sitting down and trying to eat dinner. It actually looks more like a horror movie, but there are reports of it happening. If you know …

Read More »

Don’t blame the coronavirus, here’s why Neiman Marcus is going bankrupt

Click here to read the full article. The next shoe is supposed to drop at Neiman Marcus. Dallas’ upscale department store, which operates its eponymous banner, as well as Last Call, MyTherese and Bergdorf Goodmanis years away from its glory days and waist deep in debt. More footwear news Now, …

Read More »

Monday newspapers: bankruptcies, a “silent killer” and pandemic puppies | New

Business relief measures are running their course, why Finland needs to kick its salt habit and a pandemic puppy craze. The Labrador Retriever is Finland’s favorite dog. Image: Annu Passoja / Yle Finland could experience a wave of bankruptcies this spring, reports Ilta Sanomat (siirryt toiseen palveluun), which notes that …

Read More »

Covid was the deathblow for several struggling US stores

The massive pandemic debt and changing shopping habits have created a deadly cocktail of bankruptcies and closures. In the United States, more than 8,400 retailers closed shop this year. A look at some US retailers which filed for bankruptcy this year. Legendary US retailers that filed for bankruptcy this yearModell …

Read More »

Sailing: Italians launch America’s Cup yacht, all teams now test

WELLINGTON (Reuters) – The America’s Cup just got “real” for Italian challengers who hope to take on team New Zealand next year as Luna Rossa launched her second-generation AC75 yacht in Auckland on Tuesday. The launch came just days after American Magic and British challenger INEOS Team UK began trials …

Read More »

Student loans seen as potential ‘next debt bomb’ for US economy

Correction: An earlier version of this article incorrectly stated that the 2011 figure for outstanding US student debt, $867 billion, represented a sharp increase from a total of $100 billion in 2010. Experts say that the rise was much less severe, placing the 2010 total between $767 billion and $830 …

Read More »

GNC files for Chapter 11 bankruptcy

Burdened with debt and ill-positioned for the COVID-19 supplement boom, retail giant GNC has filed for bankruptcy protection. With $682 million in debt repayments it couldn’t discuss at the end of 2019, and more than $900 million in total, management said it had already closed about 900 stores, or 25. …

Read More »

GNC files for bankruptcy while negotiating with Harbin as buyer

The development is not unexpected, as it was reported earlier this month that the company was in negotiations for a debtor-in-possession loan to put it out of business. This loan helped the company extend the June 15 liquidity deadline. But more debt maturities are looming for GNC which has been …

Read More »

LSC Communications will close a printing plant in Spartanburg, SC, affecting more than 400 workers

One of the main tenets of buying and owning real estate is location, location, location. The same goes for where skilled workers live when they lose their jobs and what new opportunities may be available to them within their local communities. Unfortunately, many large print shops that are closing are …

Read More »

Article 1126 of the Bankruptcy Code and the dangers of sleeping on your rights as a creditor

A seat at the table is what you probably want when your financial interests are embroiled in bankruptcy proceedings. You will seek to be heard and do what you can to maximize your recovery. This is especially true if you’re a creditor in a Chapter 11 case. Yet a recent …

Read More »

GNC Holdings: An Interesting Bankruptcy Case (NYSE: GNC)

Already, there have been countless victims of the COVID-19 pandemic. Most of the businesses that have closed are small private businesses. Some, however, are large national or multinational companies that trade in public markets. In the case of these larger companies, the typical route is through restructuring, normally via Chapter …

Read More »

Frontier Communications Files for Bankruptcy Protection

David Colburn REGIONAL – Frontier Communications filed for Chapter 11 bankruptcy protection last week as it struggles to restructure massive debt while maintaining uninterrupted consumer services. However, the decision will not stop an ongoing investigation by Minnesota Attorney General Keith Ellison into the company’s business practices.Frontier provides telephone and Internet …

Read More »

Tennessee has a staggering bankruptcy rate due to medical debt

The state of Tennessee is in the midst of a health care crisis, where its residents are struggling with debt, bankruptcy and lack of access to health care, while suffering some of the highest rates in the United States of preventable diseases. In December 2013, Katie Phillips, 32, of Knoxville, …

Read More »

Chuck E. Cheese, hard hit by the pandemic, files for bankruptcy – Indianapolis Business Journal

Chuck E. Cheese, the restaurant chain that has become a mecca for kids and a melting pot for many of their parents, is filing for bankruptcy. Parent company CEC Entertainment Inc, acquired by private equity firm Apollo Global Management Inc. in a leveraged buyout in 2014, has more than 600 …

Read More »

Turkish companies file for bankruptcy protection as slowdown bites

Turkey is facing a growing number of bankruptcy protection applications as a slowdown in economic growth weighs heavily on businesses. Requests for konkordatoA court-sanctioned deal that allows struggling companies to try to avoid complete bankruptcy by restructuring their debt repayments, has exploded in recent months. This surge follows a currency …

Read More »

NSF cheque: no criminal proceedings against the debtor company under moratorium

The Supreme Court ruled on Monday that criminal charges cannot be brought against a corporate debtor under the NSF Checks Act if the NCLT has already passed a moratorium order under the Insolvency and Bankruptcy Code. . However, he said such proceedings may continue against former directors/persons in charge and …

Read More »

Bend Bulletin owners plan to sell everything and dissolve the company

Your browser does not support the audio element. The Bend Bulletin building has been on the market since 2017. Emily Cureton/OPB The owner of the Bend Bulletin plans to dissolve the company and sell the seven newspapers of its Pacific Northwest chain, according to a liquidation plan filed Wednesday in …

Read More »

Cornerstone Paving Files for Chapter 11 Bankruptcy | Local News

CALEDONIA – Cornerstone USA LLC, along with two of its subsidiaries, Cornerstone Pavers and Burlington Pavers Leasing, filed for Chapter 11 bankruptcy in the Eastern District Court of Wisconsin. Cornerstone Pavers was a key player in the reconstruction of the MM Freeway which far exceeded the original completion schedule. Kerkman …

Read More »

COVID-19 will lead to a huge increase in bankruptcies

Image source: Getty Images Statistics Canada reports that the debt-to-disposable income ratio of Canadians fell 152% between April and June, down from 175.4% in the first quarter of 2020. By the end of June, households owed $1.58 for every dollar spent. Since 2017, the ratio has remained within the 170% …

Read More »

A St. Jude Patient Headed To Space And You Could Win A Seat Too

A former St. Jude patient takes the trip of a lifetime. As if it wasn’t already out of this world that Hayley Arceneaux beat cancer and lived as a healthy adult — she’s now on her way to space. During the Super Bowl, you may have noticed an ad for …

Read More »

Insolvency and Bankruptcy Code: the suspension of insolvency cannot be extended beyond March 24

The government has not yet planned to extend the stay of bankruptcy proceedings against Covid-related defaults for another year once it expires on March 24, sources have told FE. However, it will hold a series of review meetings in the coming weeks on relief under the Insolvency and Bankruptcy Code …

Read More »

The Curse of 50 Cent’s Bankruptcy: 7 Other Rappers Who Went From Boom to Bust

NEW YORK (Main Street) — Rapper 50 Cent’s name took on a whole new meaning yesterday when the hip-hop star filed for Chapter 11 bankruptcy in Connecticut courts. Although Forbes recently estimated he had assets worth $155 million, 50 Cent, whose real name is Curtis James Jackson III, claims in …

Read More »

How much could PG&E rates increase? What do you want to know

In summary Over the past decade, PG&E’s rates have risen 31% — faster than inflation — but not as much as San Diego Gas & Electric’s. Updated August 29, 2019 to include PG&E’s views on rate increases and submissions to federal regulators. Pacific Gas and Electric customers were warned of …

Read More »

Developers plan to turn the former Lone Star Brewery into a mixed-use destination

The group of buildings comprising the Lone Star Brewery have stood empty since 1996, gathering graffiti and falling into disrepair as nearby neighborhoods have flourished and sections of the River Walk have been resurfaced. It’s not for lack of interest. Developers have repeatedly attempted to revitalize the 32-acre site across …

Read More »

Downtime for Upstate New York – iconic breweries closing, financial struggles – happy beer hunting

WHY IS IT IMPORTANT In many ways, these closures epitomize the major challenges facing the industry today. It has become increasingly difficult for some breweries to remain culturally and fiscally viable and manage distribution at a time when on-site sales are driving more growth than ever – now about 12% …

Read More »

A moratorium on transferring for-profit hospitals will protect Rhode Islanders’ healthcare system

By DOMINICK J. RUGGERIO and CHRISTOPHER CALLACI We all want to see our community hospitals succeed. They employ Rhode Islanders and provide vital services. Unfortunately, our recent experiences in Rhode Island lead us to believe that the for-profit ownership model of a community hospital may actually be detrimental to the …

Read More »

Reports: Southern Park Mall owner prepares for bankruptcy filing

(Photo by William D. Lewis) Various news outlets are reporting that Washington Prime Group — owner of the Southern Park Mall — is preparing for a possible bankruptcy filing after missing an interest payment on its debt. Bloomberg News quoted “people with knowledge of the plans” and added that the …

Read More »

July retail market: US sales jumped 7.5% in June; bankruptcies hit their highest level in 3 years

U.S. retail sales rose more than expected for the second straight month in June as the economy reopened, but experts say the recovery remains uncertain given new spikes in COVID-19 cases. Retail and foodservice sales jumped 7.5% in the month, beating the consensus estimate of economists polled by Econoday of …

Read More »

Market basket turmoil pushes NH recruiting company out of business

Supermarket chain battle is ‘final blow’ for Bedford-based American Resource Staffing The Market Basket supermarket dispute helped force a financially troubled Bedford-based recruitment agency to the brink of bankruptcy, according to a filing in the US Bankruptcy Court in Manchester. American Resource Staffing Network Inc., which now manages a payroll …

Read More »

Maryland women’s basketball star Angel Reese will miss about 12 weeks with a broken foot

Maryland women’s basketball guard/forward Angel Reese suffered a broken right foot Thursday against Towson, a team spokesperson said. She is having surgery this week and is expected to miss around 12 weeks. Midway through the first quarter, Reese fouled and was taken out of the game. She was unable to …

Read More »

JC Penney closes 240 stores as part of its bankruptcy plan

(CBS News) – JC Penney will permanently close nearly 30% of its 846 stores as part of a restructuring plan under bankruptcy protection. The Texas-based retailer said Monday it plans to close about 192 stores by February, followed by another 50 in 2022. That will leave the company just over …

Read More »

Frontier, one of Tampa Bay’s largest cable and internet providers, just filed for bankruptcy

Click to enlarge This afternoon, Frontier Communications announced that it had filed for Chapter 11 bankruptcy. In a Press releasethe company promised remaining customers that its cable and Internet services would not worsen. “Frontier expects to continue to provide uninterrupted quality service to its customers and to work with its …

Read More »

Natural gas producer Gulfport Energy files for bankruptcy

Reuters Natural gas explorer and producer Gulfport Energy Corp filed for Chapter 11 bankruptcy on Friday, becoming the latest company in the U.S. energy sector to succumb to weak crude prices as the COVID-19 pandemic dampens demand fuel. Source: Reuters In a statement on Saturday, Gulfport said it has secured …

Read More »

It’Sugar files for bankruptcy protection, former Pasadena store closed – Pasadena Now

A view inside the Pasadena store during milder times. The nation’s largest candy store retailer has filed for Chapter 11 bankruptcy. It’Sugar, which has a store on Colorado Boulevard, plans to keep its nearly 100 stores open throughout its reorganization plan. “It’Sugar’s liquidity and ability to maintain operations depended on …

Read More »

EXCLUSIVE-Plant-based egg maker JUST sees profits next year, then looks to IPO

CHICAGO, Aug 19 (Reuters) – As shoppers increase their grocery spending due to the COVID-19 pandemic, plant-based egg start-up JUST says it aims to make a profit from operation before the end of next year, then will consider an initial public offering. Expectations of an IPO for the company, officially …

Read More »

Carnival Corporation: Bankruptcy is always an option (NYSE: CCL)

Carnival (New York stock market :CCA) disastrous performance in the third quarter shows that the cruise industry will not return to normal any time soon. We continue to believe Carnival is a very risky investment with no upside at this point, especially after the company reported a 99.5% drop in …

Read More »

Moratoria during the COVID-19 pandemic – an overview – Commentary

IntroductionOrdinary moratoriumCOVID-19 moratorium Introduction A moratorium under the Debt Enforcement and Bankruptcy Act is a waiting period granted by a court to a business in financial difficulty to assess whether it can initiate composition proceedings or file for bankruptcy. Originally, unlike in other jurisdictions, the purpose of a moratorium in …

Read More »

Retailers to watch for when filing for bankruptcy in 2020

Related practices and jurisdictions Wednesday, January 8, 2020 Chapter 11 bankruptcy filings by retail businesses and restaurants continued to make headlines in 2019. According to CNBCthere were 23 retail bankruptcies in 2019, compared to 17 in 2018. Six (6) retailers and one (1) restaurant chain that were on our “Watchlist” …

Read More »

EnergyNet, the Oilfield EBay, Is Ready to Profit

From 2016, Chris Atherton, right, with EnergyNet co-founder Bill Britain, at an oilfield in Texas. Justin Clemons, for Forbes. 2016. The deals have dried up, but “the wave is coming.” Even if he hadn’t been paying attention to the Covid-19 news or watching the price of oil ($13.24/barrel today), Chris …

Read More »

The health district sells the hospital | New

The long and byzantine fight over the Sebastopol hospital ended this week when the Palm Drive Health Care District sold the west county’s only hospital to the American Advanced Management Group (AAMG) and Sonoma Specialty Hospital. (SSH) for $2 million in cash. Escrow is scheduled to close on Wednesday, December …

Read More »

Intelsat unveils plan to end bankruptcy

Satellite service provider Intelsat has asked a judge to approve a financial restructuring proposal that would see it cut its debt by more than half and emerge from bankruptcy in the second half of the year. Under the plan, Intelsat will satisfy certain creditors’ claims by issuing new shares, with …

Read More »

Chapter 11 U.S. Shale Slab Bankruptcy Statistics Not the Best Barometer to Assess the Future of the Industry

Forbes The latest cyclical downturn in the oil and gas industry, triggered by the global Covid-19 pandemic in March, has once again prompted close scrutiny of the US shale industry. At some point, before the turn of events, shale was seen to give American hydrocarbon production a position of superiority …

Read More »

Buried under billions in debt, Norwalk-based Frontier files for bankruptcy

Appearing last year on CNBC in her role as a director of Lyft’s board of directors, Maggie Wilderotter answered an interviewer’s question about the rideshare company’s stock decline with the observation: “It depends how long you’ve been an investor.” As for any remaining long-term investors with Norwalk-based Frontier Communications, which …

Read More »

3 most important things you need to know

When bankruptcy is the only option iStock Recently, several B2B companies have filed for Chapter 11 bankruptcy protection, including: FTK Worldwide Manufacturing (a jewelry wholesaler), Niche Marketing Group (distributor), and Contract Transport, LLC (freight forwarding and trucking). , to name a few. You’ve probably seen even brighter stories from B2C …

Read More »

California Pizza Kitchen files for bankruptcy

On July 30, California Pizza Kitchen (CPK) announced that it had filed for Chapter 11 bankruptcy to restructure the majority of the restaurant chain’s long-term debt. Like so many others Restaurants and retail stores, CPK has taken a hit during the coronavirus pandemic. But so far, the fast-casual restaurant chain …

Read More »

US bankruptcy court approves sale of JC Penney

NEW YORK — JC Penney is set to emerge from bankruptcy by Thanksgiving, after a US bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest owners and major lenders. The U.S. Bankruptcy Court for the Southern District of Texas has approved a purchase agreement, announced …

Read More »

With debt deal on ice, PREPA transformation moves forward

Although the Puerto Rico Electric Power Authority’s bankruptcy process has been largely frozen for 18 months, the transformation of the authority’s operations is progressing and is expected to continue over the coming year. While debt restructuring is on hold, PREPA is exploring public-private partnerships for power generation, seeking to use …

Read More »

Changes to Federal Bankruptcy Law May Help Small Businesses

Changes to federal bankruptcy law will make it easier and cheaper for small businesses and family farmers to restructure or deleverage. COVID-19 continues to shake the global economy. New figures from the US Department of Commerce show gross domestic product fell 9.5% in the second quarter of the year. By …

Read More »

SDNY Ruing Student Loan Released in Bankruptcy

Tuesday, January 28, 2020 A decision issued this month by the Manhattan Bankruptcy Court (SDNY) could have a significant impact on the market for student loan securitizations. Student loan asset-backed securities (SLABS) are unsecured, but market participants generally assume that the underlying student loans are not dischargeable in the event …

Read More »

Belk will file for Chapter 11 bankruptcy but plans to stay open

CHARLOTTE, NC (FOX 46 CHARLOTTE) — Belk, a Charlotte-based retail chain, will file for Chapter 11 bankruptcy, according to its majority owner, Sycamore Partners. Belk will continue to operate as normal under the majority control of Sycamore Partners, a private equity firm, with holders of more than 75% of its …

Read More »

Clinton Portis nearly murdered his financial adviser after losing most of his $43 million NFL fortune

Clinton Portis should have been financially fixed for life after playing nine seasons in the NFL. the old Washington Redskins the running back has earned over $43 million during his successful career. However, a series of bad investments and trusting the wrong people nearly cost Portis his entire NFL fortune. …

Read More »

Lionel Messi: Barcelona threaten legal action over leaked contract

What do the leaked documents show? According to El Mundo, Messi could receive €555,237,619 (£491,732,285) over four seasons, if a series of conditions are met, while receiving a base salary of around €72m (£63.76m). £) per year. The newspaper claims that the contract signed by Messi was highly incentive. Messi …

Read More »

GNC files for Chapter 11 bankruptcy, plans to close up to 1,200 stores

Pittsburgh— Global health and wellness company GNC Holdings Inc. (NYSE: GNC) has filed for Chapter 11 bankruptcy. GNC and all of its subsidiaries will remain open for business during the process. Pittsburgh-based GNC plans to use the bankruptcy process “to improve its balance sheet and capital structure while continuing to …

Read More »

Nclt approves Jsw Steel’s acquisition of bankrupt Ispat Asian Color Coated

Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) has given the green signal to JSW Steel to acquire the bankrupt steel company Asian Color Coated Ispat, more than a year after the approved lenders the resolution plan. JSW Steel has offered over ₹1550 crores for the 1 …

Read More »

Forget the trade war. China already in crisis with failing companies and gutted banks

Once again, global investors are turning their worried eyes to China. And for good reason. Economic growth in the third quarter fell to 6.5%, the slowest pace since the depths of the global financial crisis in 2009. Car purchases fell last year for the first time in more …

Read More »

Bishop’s letter cites impact of pandemic and payments to victims of sexual abuse

CAMDEN – The Diocese of Camden has filed for creditor protection due to the combined impact of clergy sex abuse claims and the COVID-19 pandemic. “I have had to make many decisions since I was your bishop, but few have been so regarded as this,” Bishop Dennis Sullivan said in …

Read More »

Managing Landlords’ Exposure to Bankruptcy in the Event of Early Lease Termination During COVID-19 | Pillsbury Winthrop Shaw Pittman LLP

Although frustrating for landlords to learn, several courts hold that a lease termination agreement is a transfer by the tenant to the landlord of the tenant’s interest in the real estate, and at least some courts hold that the termination unilateral act of a lease by a landlord constitutes a …

Read More »

Corporate Restructuring and Reorganization – Practices

The Corporate Restructuring and Reorganization practice group advises companies in financial difficulty, their creditors and investors, as well as parties interested in acquiring assets from companies in difficulty. We also support hedge funds, private equity firms and financial institutions investing in distressed debt and/or equity through the restructuring and bankruptcy …

Read More »

COVID-19 UK Insolvency – Voluntary Arrangement Proposals

Tuesday, November 3, 2020 Summary R3 Association of Business Recovery Professionals (R3), a trade association for the insolvency and restructuring industry in the UK, has launched a proposed standard form (Standard Form) for Company Voluntary Agreements (CVAs) . A CVA is a contractual agreement between a business in financial difficulty …

Read More »

Debt collectors use Idaho courts to threaten arrest and jail

The American Civil Liberties Union says Idaho is among 26 states where it’s legal for a debt collection agency to have someone arrested as a result of a debt. Catherine Jones Idaho Statesman File According to a new report from the American Civil Liberties Union. The ACLU has reviewed more …

Read More »

Deal or No Deal, Chesapeake Energy is dead on arrival

If there’s a company more deserving of being pulled out of its misery than Chesapeake Energy (NYSE:CHK), I would like to know. CHK stock is now trading below $1, its lowest level since February 1999. Source: Casimiro PT / Shutterstock.com On December 4, Chesapeake was thrown a lifeline getting a …

Read More »

Artists bring child labor to the streets of New York

(Thomson Reuters Foundation) – Children’s faces appear locked in the jaws of a sinister factory robot or peering warily behind New York’s landmarks in an interactive street art campaign launched this week to raise awareness of the child trafficking and child labor. Nine striking pieces commissioned by Street Art for …

Read More »

No insolvency tsunami in sight – Insolvency/Bankruptcy/Restructuring

Australia: No insolvency tsunami in sight March 03, 2021 Worrells Solvency and Forensic Accountants To print this article, all you need to do is be registered or log in to Mondaq.com. MORE MODEST GROWTH IN INSOLVENCY APPOINTMENTS EXPECTED. Since our last review of the insolvency …

Read More »

Rubio emerges from bankruptcy | Fast casual

December 23, 2020 Rubio’s Coastal Grill will emerge from Chapter 11 within a year with debt reduced by more than $35 million, now that the US Bankruptcy Court for the District of Delaware has upheld the California-based chain’s restructuring plan “We said from the outset that this would be a …

Read More »

Hertz set to emerge from bankruptcy with $4.2 billion worth of investment firms

Hertz set to emerge from bankruptcy with $4.2 billion worth of investment firms /node/1818446/business-economy Updated on March 02, 2021 March 02, 2021 15:43 Hertz set to emerge from bankruptcy with $4.2 billion worth of investment firms Hertz filed for bankruptcy in May after its business was decimated by the COVID-19 …

Read More »

Bankruptcy Pro Briefing: Superior Energy Records for Bankruptcy; JC Penney Completes Sale and Aligns Wells Fargo Loans; SBA opposes PPP beneficiary plan

Have a good day. Superior energy became the latest oil and gas drilling services company to file for Chapter 11, while JC Penney said it was emerging from bankruptcy and had reached an agreement to sell its business to shopping center owners. The Small Business Administration challenged Astria Health’s restructuring …

Read More »

Mall REIT Washington Prime Group prepares for bankruptcy

Louis Conforti, CEO of Washington Prime Group (Twitter, iStock) A large shopping center owner prepares for bankruptcy after failing to pay interest on his debt. Washington Prime Group, a real estate investment trust that owns more than 100 shopping centers, has negotiated with its lender to reduce its debt – …

Read More »

Heckler & Koch – maker of the Marine Corps M27 – is in dire straits

For decades, German arms giant Heckler & Koch has served as the gold standard for military and civilian weapons manufacturing – building revolutionary rifles, machine guns, grenade launchers, submachine guns and pistols. and often game-changing for a variety of customers, including special operations forces. , conventional infantry units and law …

Read More »

Sheriff’s Court of Appeal rules ‘debt’ does not include interest in bankruptcy provision

A call by Her Majesty’s Revenue and Customs against a decision to revoke a receiver under the Bankruptcy (Scotland) Act 1985 was refused to the civil chamber of the Sheriff’s Court of Appeals. In the appeal against the sheriff’s decision on the application of the Bankrupt accountant in the receivership …

Read More »

Mere Withholding of Estate Assets Does Not Violate Automatic Stay | Smith Debnam Narron Drake Saintsing & Myers, LLP

The U.S. Supreme Court has resolved a split in the circuits over whether an entity that passively retains possession of property in which a bankruptcy estate has an interest has an affirmative duty under the Code’s automatic stay. of bankruptcy, 11 USC § 362, to return such property to the …

Read More »

Neiman Marcus May Shutter Key Manhattan Store

How the mighty fell – in hard times. Neiman Marcus would have may leave its fashionable year-long dig at New York’s Hudson Yards stores as its landlord buys it from potential tenants as office space. Related companies and Oxford Properties, developers of the upscale mega-mall on Manhattan’s west side, would …

Read More »

GameStop, Tesla, Apple, AMC – Pre-Market Movers Monday

Stock futures were mixed Monday as hopes remained high that the Biden White House will deliver another round of stimulus to stimulate the economy. Here are some of the top movers when trading ahead of Monday’s market. 1. GameStop GME | Up 43.05% GameStop Actions (EMG) – Get the Class …

Read More »

Evictions and bankruptcies remained stable in 2020 in RI. What awaits us?

PROVIDENCE – In a few days, 2020 will end as a year full of uncertainty for many Rhode Islanders. But housing advocates and others fear more uncertainty lies ahead and urge the state to seize the opportunity to address housing, public health and economic inequalities exacerbated by the pandemic. The …

Read More »

190-year-old department store chain joins list of retailers filing for bankruptcy

Belk, the North Carolina-based department store chain that has served generations of shoppers for nearly 190 years, announced Tuesday that it will file for Chapter 11 bankruptcy. The channel’s owner, private equity firm Sycamore Partners, said Belk will continue with “normal operations” in the event of bankruptcy, The Charlotte Observer …

Read More »

Facing the bankruptcy of a cooperative

The last thing people who live in co-ops want to hear when they shareholders’ meeting is that their cooperative risks default. But for many people, it is a reality. Every year, cooperatives go bankrupt and leave their “owners” out in the cold. What is a cooperative? Co-ops are housing arrangements …

Read More »

Expert says dashcam video shows road rage, not distracted driving

This is an archived article and the information in the article may be out of date. Please look at the timestamp on the story to see when it was last updated. DENVER — Driver Ron Olds’ dashcam picked up something very interesting and dangerous on Interstate 25 in Denver on …

Read More »

Video shows missile fired where Turkey cleared way for S-400 test, prompting US warning

ISTANBUL/WASHINGTON (Reuters) – A missile was fired into the sky on Friday over Turkey’s Black Sea coast where the military was due to test its Russian-made S-400 defense systems, according to local video obtained by Reuters, firing a strong warning from the United States. The video, taken in the coastal …

Read More »

Coal Company Blackjewel’s Exit From Bankruptcy Delayed, Hearing Continued Into New Year | energy diary

The bankruptcy case involving coal company Blackjewel will stretch into the new year, after a blocked federal judge a request from former CEO and coal magnate Jeff Hoops to liquidate the company this month. This means the case will proceed as a Chapter 11 reorganization case, but an exit plan …

Read More »

Edgewell to sell infant and pet care business to Angelcare

SHELTON, Conn. and MONTREAL, October 21, 2019 /PRNewswire/ — Edgewell Personal Care Company (NYSE:EPC) today announced that it has entered into a definitive agreement to sell its Infant and Pet Care business to Le Holding Angelcare Inc. (“Angelcare”) for $122.5 million. Under the terms of the agreement, Angelcare Group will …

Read More »

Liz Weston: Start thinking about bankruptcy now, not later

If you’ve lost your job or are struggling to pay your debt, you may need to file for bankruptcy. If so, you should ignore some common financial advice and start thinking defensively. The coronavirus pandemic that has upended the economy is also expected to send unprecedented numbers of people and …

Read More »

Ultra Petroleum Bankruptcy Court Again Allows Repair Awards and Post-Petition Default Interest, At Least for Creditworthy Debtors | King and Spalding

In a much-anticipated ruling on October 26, the Southern District of Texas Bankruptcy Court awarded compensation bonuses[i] and interest subsequent to the request (that is to sayaccrued interest after the bankruptcy filing) to certain Noteholders in the Ultra Oil bankruptcy case. Specifically, the court found: (1) the set-off bonuses do …

Read More »

After Regal, COVID-19 Forces Theater Chain AMC to Consider Bankruptcy: Report

The largest cinema chain in the world – AMC Entertainment Holdings Inc. (NYSE: CMA) is considering options for a respite from debt, which includes potential bankruptcy, reports Bloomberg. The cinema chain is still reeling from the consequences of the pandemic outbreak and lockdown measures, which have kept moviegoers out of …

Read More »

American Tire to Eye $1 Billion Refinancing After Bankruptcy

[Stay on top of transportation news: Get TTNews in your inbox.] Bankers at American Tire Distributors Inc. are probing investors about a junk bond sale that would help the company refinance its debt more than two years after emerging from bankruptcy, according to people familiar with the matter. Goldman Sachs …

Read More »

Beware of bankrupt stocks – CNN

Hertz and JCPenney are two of the most prominent publicly traded companies to have file for chapter 11 protection since the Covid-19 pandemic hit the United States. They have lots of company. But investors should reconsider whether they think now might be a good time to bargain hunt with shares …

Read More »

Why bankruptcy has become a rite of passage for many American seniors

There’s no reason why, in the richest country in the world, so many older people have such a chance of making ends meet. But alarming news research shows that Americans 65 and older — when they should be enjoying their golden years in peace — are filing for bankruptcy at …

Read More »

On ‘The Ascension,’ Sufjan Stevens lets modern confusion get the better of him

More and more it looks like Sufjan Stevens hit a wall after recording his magnum opus, 2005 Illinois. The sprawling, dense, extraordinarily composed and arranged album was – and still is – one of modern music’s greatest achievements. The indie pop masterpiece is an hour-long dive into the eponymous state, …

Read More »

Art Van’s closure shocks customers and city leaders

Warren – Art Van Furniture, a metro Detroit institution and one of the largest furniture retailers in the Midwest, will close all of its company-owned stores and liquidate inventory after battling changing shopping habits. furniture and a heavy debt following its acquisition by a private investment company three years ago. …

Read More »

Larry King, Breezy Interviewer of the Famous and Infamous, Dies at 87

Attracted by the radio Larry King was born Lawrence Harvey Zeiger in Brooklyn on November 19, 1933, the second son of Edward and Jennie Gitlitz Zeiger, immigrants from Austria and Belarus. Their first son, Irwin, had died earlier. A younger brother, Martin, became a lawyer. Mr King’s father ran a …

Read More »

Google workers to form global union alliance

FILE PHOTO: A sign is pictured at a Google office near the company’s headquarters in Mountain View, California, U.S., May 8, 2019. REUTERS/Paresh Dave/File Photo/File Photo (Reuters) – Google workers around the world are forming a union alliance, weeks after workers at the search engine giant and other units of …

Read More »

Russia’s Kyrgyzstan ally holds elections on Sunday amid wave of discontent

BISHKEK (Reuters) – Kyrgyzstan, Russia’s closest ally in Central Asia, will vote in parliamentary elections on Sunday amid signs of widespread disaffection with the ruling elite. FILE PHOTO: Russian President Vladimir Putin shakes hands with Kyrgyz President Sooronbay Jeenbekov during a meeting in Sochi, Russia September 28, 2020. Sputnik/Mikhail Klimentyev/Kremlin …

Read More »

These are the airlines on the brink of ruin from COVID-19

Having a home government with deep – and open – pockets appears key to whether an airline will make it through the coronavirus pandemic. According to analysis by Bloomberg News, carriers in jurisdictions where there is little support from above are the most likely to fail. Using the Z-score method …

Read More »

ACI Europe warns nearly 200 airports risk bankruptcy – Airport World

ACI Europe today warned that 193 of the continent’s airports risk insolvency in the coming months if passenger traffic does not start to recover by the end of the year. These airports are estimated to support 277,000 jobs and €12.4 billion of European GDP. According to ACI Europe, unless governments …

Read More »

Paris Jackson’s debut album does both too much and not enough

At around 44 minutes, Paris Jackson’s debut album faded is a concept album which comes out monotonous and repetitive. she went out “to let down” as the album’s only single. Jackson’s smooth vocals are hampered by mostly cliched pop production full of wispy background vocals, echoing keyboards and soulless acoustic …

Read More »

Review: T-Pain’s New Album Shows A Watered Down Version Of A Once-Great Artist

It would be hard to argue that a musical artist is as closely associated with a recording style as T-Pain is with autotune – it’s his calling card. While he didn’t necessarily invent the popular pitch correction feature, he certainly popularized it in the late 2000s. T-Pain’s New Album 1UPreleased …

Read More »

J.Jill in agreement to avoid bankruptcy; will restructure amicably

J.Jill managed to avoid making a trip to bankruptcy court. The womenswear retailer’s plan to out-of-court debt restructuring has been given the green light by lenders holding 97.8% of its term loan facility, allowing J. Jill to go ahead without have to file for bankruptcy. Like Previously reported, the plan …

Read More »

Has a Trump trade war led to a wave of farm bankruptcies?

Joe Biden: Says President Donald Trump started a trade war that “led to an increase in farm bankruptcies.” PolitiFact’s decision: half true Here’s why: In recent high-profile comments criticizing President Donald Trump, Democratic presidential candidate Joe Biden addressed a topic that touches home in Wisconsin — struggling farms. Speaking at …

Read More »

Tailored Brands emerges from bankruptcy and faces challenges – WWD

Tailor-made brandsInc., is ready to begin its next chapter. Late Monday evening, the menswear retailer completed its restructuring and emerged from Chapter 11. Under the terms of the plan, which was upheld by the U.S. Bankruptcy Court for the Southern District of Texas on November 13, 2020, the company has …

Read More »

The fairway is so crowded! How can this be in bankruptcy?

In 2016, Fairway filed for bankruptcy. But while that process cleared some of the firm’s debt, it didn’t result in any fundamental change to the business, according to Leo Crowley, who leads the firm’s insolvency and restructuring practice. of Pillsbury lawyers. “There has been no attempt to renegotiate store leases, …

Read More »

Can states declare bankruptcy? Mitch McConnell offered the option but experts say current law doesn’t allow it

Senate Majority Leader Mitch McConnell has floated the idea of ​​letting states go bankrupt amid the coronavirus pandemic, but experts say that’s simply not possible under current law. “Basically, states just aren’t allowed to declare bankruptcy,” said Juliet Moringiello, associate dean for research at Pennsylvania’s Widener School of Law. Newsweek. …

Read More »

Covid-19 pushes indebted retailers out of business – Quartz

As of August 3, 43 publicly traded retailers or large private retailers filed for bankruptcy in the United States in 2020, according to market intelligence firm S&P Global. This is a rate not seen since the 2008 financial crisis and its consequences. The immediate cause, of course, is Covid-19, which …

Read More »

Ensuring Equity in California’s Energy Transition – Energy Institute Blog

Residential electricity prices in California are on an unsustainable trajectory. The year 2021 has already had its share of energy and climate news: a slew of Executive orders in Washington, a burning brothel Texasand the energy of superstars Talent jump into the new administration. In local news, PG&E rates jumped …

Read More »

United Natural (UNFI) rallies on pace of second quarter earnings and rising sales

Shares of United Natural Foods, Inc. UNFI gained 18.2% as it delivered strong results for the second quarter of fiscal 2021, with growth in both revenue and net income year-over-year. Additionally, the net result exceeded Zacks’ consensus estimate. To top it off, management said it now expects to end fiscal …

Read More »

American Airlines: Exaggerated Bankruptcy Fears (NASDAQ: AAL)

Never has a stock had so many bankruptcy questions as it traded near $10 a share. Again, American Airlines Group (AAL) finds the stock in this situation. At the height of the virus panic and when financial aid was questionable, some fears of bankruptcy made sense. But now the most …

Read More »

South African Airways can still be saved with funding: Trustees

JOHANNESBURG (Reuters) – South African Airways (SAA) can still be saved if it secures the necessary funding, the public airline’s directors said on Wednesday, adding they were discussing a possible restructuring with the government. FILE PHOTO: A South African Airways (SAA) plane taxis after landing at OR Tambo International Airport …

Read More »

JC Penney is not ‘hopelessly insolvent’, adviser says, giving shareholders hope

A Dallas-based restructuring adviser gives JC Penney shareholders hope. Instead of selling the business in three pieces, which is now on the table, Plano-based Penney can emerge as a small business that has benefited from the basic tools of a retail bankruptcy reorganization: reject unprofitable store leases and reduce debt …

Read More »

Hornbeck reorganization plan approved by judge | Business

A bankruptcy court judge has approved Hornbeck Offshore Services Inc.’s reorganization plan, paving the way for the Covington-based service vessel company to emerge from Chapter 11 protection within months. Judge David R. Jones of the Southern District of Texas approved the plan, which has overwhelming support from companies with claims …

Read More »

JC Penney Files for Chapter 11 Bankruptcy Protection

By Mike Spector | Reuters NEW YORK – JC Penney Co. Inc. filed for bankruptcy Friday with plans to permanently close some stores and also explore a possible sale, making it the latest brick-and-mortar retailer to collapse so that extended store closures in response to the COVID-19 pandemic bring one …

Read More »

The Coming Bankruptcy Tsunami

As Chapter 13 Trustee for Eastern Massachusetts, Carolyn Bankowski has overseen all personal bankruptcies in the region for the past 14 years. Recently, she says, the number of bankruptcies has slowed, thanks to a once booming economy. But she expects that to change now that the coronavirus has crippled the …

Read More »

Rental-Car Company Advantage files for bankruptcy

Advantage follows rival car rental company Hertz in Chapter 11 as the fallout from the coronavirus pandemic devastates air travel. Photo: Smith/Gado/Getty Images Collection Updated May 27, 2020 11:29 a.m. ET The parent company of Advantage Rent a Car has filed for bankruptcy, the second major car rental company to …

Read More »

Colorado unfortunately takes the lead in commercial bankruptcy filings in the region – Loveland Reporter-Herald

Mid-sized business bankruptcies are growing much faster in Colorado than in other states in the Mountain West region, with the real estate and rental sector the hardest hit so far, according to a Resolute Commercial Services report. The pandemic has pushed several major retail, hospitality, oil and gas companies to …

Read More »

Lucky’s Market owes Kroger more than $301 million

Lucky’s Market has racked up a crippling debt of more than $301 million to grocery giant Kroger Co. (NYSE: KR) in the roughly four years since Kroger invested in the company, according to documents filed Monday. in the United States Bankruptcy Court in Delaware. That debt peaked with the Niwot-based …

Read More »

Childhood and adolescent obesity has increased tenfold worldwide in 40 years according to a WHO report

GENEVA (Reuters) – The number of obese children and adolescents worldwide has increased tenfold over the past 40 years and the rise is accelerating in low- and middle-income countries, particularly in Asia, according to a major study published Wednesday. People arrive at the headquarters of the World Health Organization in …

Read More »

Overwhelmed Bankruptcy Courts Threaten U.S. Recovery

In early March, as the Covid-19 sowed alarm in the West, the American sporting goods retailer Modell’s filed for bankruptcy. The company had long been blighted by excessive debt and lackluster sales, and was overdue for a shakeup. What happened next was strange – and symbolic. Over the past two …

Read More »

Definition, what you need to know and how to avoid it

Bankruptcy can be a last resort. But some lawyers expect a wave of last resort in the coming months. So far during the Coronavirus pandemic, many creditors and owners put up with delays. But don’t expect it to last forever. During the Great Recession of 2007-2009, banks were initially kind …

Read More »

Chapter 9 Definition of Bankruptcy

What is Chapter 9? Chapter 9 is a bankruptcy proceeding that offers financially troubled municipalities protection from creditors by creating a plan between the municipality and its creditors to settle the unpaid debt. Municipalities, as defined for Chapter 9 bankruptcy proceedings, include a wide variety of government entities such as …

Read More »

Seadrill Suspends Debt Payment As Restructuring Talks Continue

OSLO, Sept. 16 (Reuters) – A group of Seadrill creditors have agreed to let the offshore drilling rig operator suspend interest payments this month as part of an ongoing effort to restructure its debt $ 7.3 billion, the Oslo-listed company said on Wednesday. Seadrill, which has so far failed to …

Read More »