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Steinhoff holds a 50% stake in Mattress Firm, which is touted as the US's leading speciality bedding retailer. However, much like shareholder Steinhoff, the Mattress Firm has seen its share of financial woes in the last few years. In 2018 – just two years after Steinhoff bought its share of the business for more than $3.8 billion – the bed store battled huge debt and subsequently filed for Chapter 11 bankruptcy protection. This saw the company reduce its store count significantly from 3 200 to 2 600 stores. | not-forward | www.moneyweb.co.za | https://www.moneyweb.co.za/news/companies-and-deals/steinhoff-looks-to-list-mattress-firm-on-new-york-stock-exchange |
While upholding UltraTech's bid, a two-judge bench headed by Justice Rohinton F. Nariman dismissed the appeal by Dalmia Bharat Pvt. Ltd-owned Rajputana Properties. | not-forward | www.livemint.com | https://www.livemint.com/Companies/t4naP5lqSqbMDrcJAlWz2I/SC-upholds-NCLAT-order-approving-Ultra-Techs-revised-bid.html |
There were eight Chapter 11 filings last month — compared with none a year earlier — which all came from Pacific Links US Holdings Inc. and seven affiliates. Chapter 11 filings are primarily for business reorganization. | not-forward | www.staradvertiser.com | https://www.staradvertiser.com/2021/03/08/hawaii-news/hawaii-bankruptcy-cases-plunge-again-despite-covid-19 |
Since early February, Bon-Ton Stores, Inc., the Elder-Beerman stores parent company, has been mired in Chapter 11 bankruptcy. MORE : Customers push back on DP&L rate hike request The group acquired the bankrupt retailer's assets last month after submitting a winning bid to a U.S. bankruptcy court. "All told, the retail real estate assets include 157 department stores at regional malls, 39 locations in open-air shopping centers, 16 freestanding stores, as well as nine furniture galleries and two clearance stores," A&G said. | not-forward | www.daytondailynews.com | https://www.daytondailynews.com/business/company-hired-sell-all-elder-beerman-real-estate/lzS8D4p1FRE92jP2iGdpwN |
An automotive plastics and tooling supplier to major auto makers and Tier 1 manufacturers has filed for bankruptcy after months of financial distress. Auburn Hills, Mich.-based Unique Fabricating N.A. Inc. filed a petition for voluntary Chapter 7 protection in the U.S. Bankruptcy Court for the District of Delaware on Wednesday, according to a company filing with the U.S. Securities and Exchange Commission. The company makes plastic, rubber and foam components for customers including Stellantis N.V., General Motors Co., Yanfeng Automotive Interior Systems, Rivian Automotive Inc. and Bosch. It has up to $50 million in estimated liabilities and between $10 million and $50 million in assets, according to a bankruptcy document. | not-forward | www.rubbernews.com | https://www.rubbernews.com/news/gm-rivian-supplier-unique-fabricating-files-bankruptcy |
The singer and actress took charge of her popular Jessica Simpson collection last year when its parent company, Sequential Brands Group Inc., filed for Chapter 11 bankruptcy protection in August. (John Shearer/Getty Images for the Jessica Simpson Collection) | not-forward | biz.crast.net | https://biz.crast.net/jessica-simpson-recalls-her-credit-card-was-rejected-when-she-went-to-taco-bell-the-other-day |
A bankruptcy filing does not mean a company will be forced out of business. Many companies have gone through the process and gone on to post record profits, including automaker General Motors (GM) and many of the nation's airlines. But many companies that have filed for bankruptcy with the intention of staying in business have not survived the process. | not-forward | www.cnn.com | https://www.cnn.com/2020/05/22/business/hertz-bankruptcy/index.html |
Hawaiian's court-appointed trustee, Joshua Gotbaum, Ranch Capital LLC and a committee of unsecured creditors have submitted their own joint reorganization plan. Ranch Capital last year purchased a majority share in the airline's parent, Hawaiian Holdings Inc. | forward | www.aviationpros.com | https://www.aviationpros.com/home/news/10436319/hawaiian-airlines-investor-arrested |
Offshore drilling contractors have had a particularly difficult time since their share prices posted recent highs last fall. Diamond Offshore stock had lost about 95% of its value since last September by the time the company filed for bankruptcy in late April. Noble's stock has dropped by more than 80% since last year and Transocean Inc. ( NYSE: RIG ) has seen its share price drop by more than 50% in the same period. | not-forward | 247wallst.com | https://247wallst.com/energy-business/2020/07/31/offshore-driller-noble-files-for-bankruptcy |
In May 2024, the Danish shipping company resumed this process by decision of the sole shareholder dated April 10. In 2023, as it turned out, the procedure was temporarily suspended. In addition to Maersk LLC, the Danish shipping company sold two logistics sites in Russia, located in St. Petersburg and Novorossiysk, at the beginning of last year. Their buyer was the Cypriot company IG Finance Development Limited. The deal was approved by the regulatory authorities of the European Union (EU) and the Russian Federation. The terminal in Novorossiysk covers an area of 28.75 thousand square meters and holds 1.5 thousand containers. It was noted that the amount of Maersk's investments in the St. Petersburg asset was estimated at $ 30 million. Thus, of all the assets of the Danish company in the Russian Federation, only the Limited Liability Company (LLC) Maersk Solutions remained active. The decision to liquidate this "daughter", adopted in the fall of 2022, was canceled in October 2023. | not-forward | www.oreanda-news.com | https://www.oreanda-news.com/en/transport/the-world-s-largest-goods-carrier-has-liquidated-its-business-in-russia/article1529509 |
"As per the Coinbase Agreement, after Nov 9, 2024, non-corporate creditors who still have not received their Celsius distribution via Coinbase will automatically be rerouted to a US dollar (USD) distribution partner instead." | forward | cryptorank.io | https://cryptorank.io/news/feed/c0808-celsius-initiates-second-payout-of-127-million-enhancing-creditor-returns-to-60-4 |
Target Corporation (NYSE: TGT ) shares are perking up in what looks like preparation for a breakout. Year-to-date, TGT has been rangebound with resistance near the $74-a-share level. This caps a long sideways range going back to early 2015 as the retailer has struggled with online competitors, tepid traffic growth, and profitability worries. Management is in the midst of a turnaround effort with store reinvestment underway. | not-forward | investorplace.com | https://investorplace.com/2018/05/3-stocks-to-buy-before-they-break-out |
But in the cash-strapped aftermath of the split with Evergrande, the startup now has fewer than 400 people working on reduced payroll in the US through the furlough, according to one current employee. It has lost many key employees, too. Two of its three co-founders have resigned in the last year and a half, as have many of its top executives. The company also recently lost a number of employees who were crucial to the development of the GM EV1 — considered to be the first mass-produced electric car — to rival EV startup Rivian. | not-forward | www.theverge.com | https://www.theverge.com/2019/5/1/18524108/faraday-future-bankruptcy-expert-birch-lake-loan |
U.S. Bankruptcy Judge John Sherwood, who issued an order barring seizure of Hanjin property by creditors, acknowledged that some details remained unresolved and urged the parties to "self-help" and work out problems among themselves. That could prove thorny. Hanjin has identified 14 U.S.-bound ships in bankruptcy filings, including the Hanjin Greece and two other vessels currently near the Southern California coast. Port operators, cargo owners, longshoremen, shippers and others all must reach financial agreements with Hanjin before each ship can be docked, officials said. | not-forward | www.cnbc.com | http://www.cnbc.com/2016/09/10/hanjin-one-ship-cleared-to-dock-at-us-port-others-remain-in-limbo.html |
Stamford, Connecticut-based H/2 is headed by Spencer Haber, whose background is real estate finance. Haber's resume includes Salomon Brothers, what was then Starwood Financial Trust, Lehman Brothers Holdings Inc. and iStar Financial, according to a regulatory filing. H/2 made its name during restructuring efforts at Toys R Us, according to people involved in the process. The firm was a large holder of debt backing a Toys R Us unit that controlled a chunk of its real estate. The stores in that entity were governed by a master lease agreement. | not-forward | www.crainsnewyork.com | https://www.crainsnewyork.com/retail-apparel/jcpenney-faces-possible-snag-smooth-restructuring |
(Fulton, 11/9) In other pharmaceutical news — Reuters: Eli Lilly Ordered To Pay $176.5 Mln To Teva In U.S. Migraine Drug Patent Trial Eli Lilly & Co must pay Teva Pharmaceuticals International GmbH $176.5 million after a trial to determine whether its migraine drug Emgality infringed three Teva patents, a Boston federal court jury decided on Wednesday. The jury agreed with Teva that Lilly's Emgality violated its rights in the patents, which relate to its own migraine drug Ajovy. Both drugs treat migraines by employing antibodies to inhibit headache-causing peptides. (Brittain, 11/9) Stat: Clovis Oncology Warns Of Likely Bankruptcy Filing Clovis Oncology, a maker of cancer drugs, warned Wednesday that it will likely file for bankruptcy protection due to dwindling sales of its sole product, mounting financial losses, and a crushing debt load. | not-forward | kffhealthnews.org | https://kffhealthnews.org/morning-briefing/thursday-november-10-2022 |
Audacy can now proceed with its plan to restructure its nearly $1.6 billion in debt. Laurel Tree Opportunities Corp., a group with ties to the Soros-backed Fund for Policy Reform, is poised to gain a controlling interest through the reorganization plan's issuance of new common stock and special warrants. Read NRB's earlier coverage of the acquisition here. | forward | nrb.org | https://nrb.org/fcc-approves-soros-shortcut-on-audacy-takeover |
Depending on your perspective — and how bullish you are on the future of electric mobility — Proterra's heavily-PRed bankruptcy filing was some combination of expected, concerning, and forethoughtful. Because even without the largest American EV-bus manufacturer folding, replacing entire fleets of diesel buses with battery-electric powered ones will be hard enough. | not-forward | usa.streetsblog.org | https://usa.streetsblog.org/2023/08/15/americas-largest-e-bus-manufacturer-is-going-bankrupt-but-that-isnt-the-only-challenge-facing-the-transition |
The disgraced former chief of Anglo Irish Bank will be forced to testify about his personal wealth and the role he played in the epic downfall of the huge Irish bank, according to a settlement agreement reached today in U.S. Bankruptcy Court. | forward | www.bostonherald.com | https://www.bostonherald.com/2010/12/02/former-anglo-irish-bank-ceo-to-testify-in-bankruptcy-case |
Frontier spokesman Jim Faulkner declined to comment, while a representative for Indigo didn't immediately comment. Volaris, Virgin, Spirit A U.S.-listed airline IPO is a rare occurrence. Only three companies have completed initial share sales in the past five years: Mexican low-cost carrier Controladora Vuela Cia. de Aviacion SAB, known as Volaris, Virgin America Inc. and Spirit Airlines Inc. Indigo bought a stake in Spirit in 2006 before the deal, and Franke was chairman of the board until 2013. Frontier has changed hands twice since filing for bankruptcy protection in April 2008. Republic bought the carrier in October 2009 for $108.8 million, and agreed at the time not to pursue a $150 million unsecured bankruptcy claim. After the Indigo buyout, Frontier's new owner transformed it into a so- called ultra-low cost carrier — an airline that offers inexpensive base fares and adds fees for everything else. | not-forward | 50skyshades.com | https://50skyshades.com/news/airlines/frontier-airlines-is-considering-a-rare-us-carrier-ipo |
Then GM filed bankruptcy in June 2009 which led to the injection of $49.5 billion of taxpayer funding, eliminated most of the company's debt and provided for the sale of its best assets to a new company called General Motors Co. The unwanted assets remained in bankruptcy courts as Motors Liquidation Co. | not-forward | www.freep.com | https://www.freep.com/story/money/2015/05/14/general-motors-uaw-retiree-healthcare-bankruptcy/27307989 |
The second-largest U.S. mortgage insurer, PMI Group Inc., posted a fourth consecutive quarterly loss as claims surged amid rising homeowner defaults. The second-quarter net loss was $246.3 million, or $3.03 a share, compared with profit of $83.8 million, or 95 cents, a year earlier, the Walnut Creek, California-based insurer said today in a statement. The company shut its Canadian unit and said it will close sales offices in Germany, Spain and Italy. Mortgage insurers, which pay lenders when borrowers default and foreclosure proceeds fail to cover costs, have endured record losses and had their ratings cut amid the worst housing slump since the 1930s. One in every 171 households was foreclosed on, received a default notice or was warned of a pending auction in the second quarter, more than double the rate a year earlier, according to RealtyTrac Inc., a seller of default data. | not-forward | programbusiness.com | https://programbusiness.com/news/pmi-posts-another-loss-in-second-quarter |
Suniva and SQN Capital were in constant focus during the Section 201 trade case, not least from US solar trade body, SEIA. Post the Section 201 trade case, Leading 'Silicon Module Super League' (SMSL) member JinkoSolar has announced plans to build a 600MW module assembly plant in the US, followed by US-headquartered SunPower Corp acquiring Section 201 trade case supporter, SolarWorld America's and its manufacturing operations. US-headquartered leading thin-film manufacturer First Solar also announced a second major manufacturing plant (1.2GW) would be built in the US and this week broke ground on the project. Another SMSL, Korean-owned Hanwha Q CELLS has recently announced a 1.6GW module assembly plant to be built in the US. Before entering bankruptcy, Suniva had 400MW of cell and module capacity at its manufacturing facilities. | forward | www.pv-tech.org | https://www.pv-tech.org/suniva-plans-partnership-to-restart-manufacturing-operations |
JAL is expected to use the bankruptcy filing to slim down significantly, with mass redundancies and network reductions expected to take place within the next year. However, the airline and the oneworld alliance have said that there will be no immediate changes to services as a result of the bankruptcy. Meanwhile, media reports from Japan claim that JAL has chosen a proposal from US carrier Delta Air Lines for an equity and operational alliance which could see it exit the oneworld alliance in favour of the Delta-led Skyteam alliance. American Airlines and oneworld have also proposed an assistance package for JAL, which could include Qantas assisting JAL to establish its own low cost carrier. Despite the reports, JAL has not yet announced which proposal it intends to accept. | forward | australianaviation.com.au | https://australianaviation.com.au/2010/01/jal-enters-bankruptcy-protection |
Quirky has filed for Chapter 11 bankruptcy and has accepted a $15 million bid for the Wink home automation hub from Flextronics, the contract manufacturer that originally built the device. Quirky's bankruptcy filing cites between $50 million and $100 million in debts and between $10 and $50 million in assets. Its largest unsecured creditor is Flextronics, while its most surprising unsecured creditor might be former Quirky CEO Ben Kaufman, who is owed almost $300,000. | not-forward | fortune.com | https://fortune.com/2015/09/22/quirky-files-bankruptcy |
Reddy Ice Confirms Plans to File for Bankruptcy Protection ( WSJ ) Packaged-ice maker Reddy Ice Holdings Inc. confirmed it plans to file for Chapter 11 bankruptcy protection and expects to commence the bankruptcy case "promptly." The Wall Street Journal reported Sunday that Dallas-based Reddy Ice would file a so-called prearranged bankruptcy with a restructuring plan supported by creditors, including Centerbridge Partners, to limit time in court. | forward | www.insidermonkey.com | https://www.insidermonkey.com/blog/hedge-fund-news-george-soros-phil-falcone-bill-ackman-11804 |
Microsoft Corporation (NASDAQ:MSFT) will hold its financial analysts' meeting on September 19th, and is expected to maintain its planned business reorganization, according to a report from Goldman Sachs by analysts Heather Bellini, Sonya Banerjee and Brian Baytosh. The analysts also point out that the Board of Directors including Bill Gates is continuing to support this reorganization plan. | forward | www.valuewalk.com | https://www.valuewalk.com/microsoft-corporation-msft-financial-analysts-meet |
Contrastingly, Revlon's rival brand Coty Inc. has been successful in gaining sufficient market share by means of heavy investments for the improvement of supplies. Along with it, for catering to a post-pandemic rebound in the demands of make-up products such as lipsticks and mascaras. | not-forward | techstory.in | https://techstory.in/cosmetics-company-revlon-files-for-bankruptcy-protection |
Summit, which is owned by fast-food franchise Carls Jr. parent company CKE Restaurants, is now seeking a buyer to try and keep its remaining 108 restaurants afloat. | not-forward | www.dailymail.co.uk | https://www.dailymail.co.uk/news/article-12065297/Major-Hardees-franchisee-files-bankruptcy-closing-39-108-stores-eight-states.html |
Although a shift to cost-cutting efforts sounds like it would have benefitted dollar stores, the discounters are increasingly losing market share to value retailers like Walmart and e-commerce retailers like Temu. Dollar Tree fell short of expectations for holiday-quarter sales in its fourth quarter earnings report, meanwhile its main competitor Dollar General surpassed estimates. Dollar Tree has been in the midst of a broader turnaround effort since current CEO and former Dollar General CEO Richard Dreiling took the helm in early 2023. Shares of the company have pulled back roughly 15% in 2024. | not-forward | www.aol.com | https://www.aol.com/dollar-tree-exploring-sale-family-131848076.html |
Rare earth producer Molycorp is moving forward with its Chapter 11 process and received court approval for an improved debtor-in-possession (DIP) financing package provided by Oaktree Capital Management. | not-forward | www.e-mj.com | https://www.e-mj.com/leading-developments/molycorp-secures-financing-more-time-to-pursue-reorganization-plan |
In Burtch v. Avnet, Inc. (In re ManagedStorage International, Inc. et al. ), 1 ManagedStorage International, Inc. and its related affiliates (Debtors) filed a bankruptcy petition on February 4, 2009. Simultaneously, the Debtors filed a motion to sell their assets pursuant to a Section 363 sale free and clear of all liens assets to Laurus Master Fund Ltd. (Laurus). Avnet, Inc. (Avnet) objected to the sale and asserted a purchase money security interest in certain of the Debtors' assets. Eventually, the Debtors, the Official Committee of Unsecured Creditors (Committee), and Avnet entered into a stipulation requiring the segregation and maintenance of Avnet's collateral (Stipulation). | not-forward | www.afslaw.com | https://www.afslaw.com/perspectives/alerts/us-district-court-the-district-delaware-analyzes-sufficiency-notice-rule-9019 |
The number of bankruptcy filings in June was 120,623, or an average of 5,483 a day, a drop of 6.2 percent from May, when filings totaled 122,775, or 5,846 a day, according to a report from Epiq Systems, which tracks bankruptcy filings. Average daily filings are down nearly 10 percent from June of last year. | not-forward | www.mercurynews.com | https://www.mercurynews.com/2011/07/06/news-in-brief-bankruptcy-filings-bailout-money-service-sector |
Prior to October 2012, the Debtor changed its name to Sterling United, Inc. and moved its headquarters to 6030 North Bailey Avenue, Amherst, NY. 7 First Niagara amended its UCC filings to change the debtor's name and address, but failed to update the collateral descriptions. 8 Four months later, First Niagara amended its filings a second time in order to correct the location provided in the original collateral descriptions. 9 Unfortunately for First Niagara, however, the debtor filed for bankruptcy 88 days after this second amendment was filed. 10 Since Chapter 11 of the Bankruptcy Code allows a bankruptcy trustee to avoid any transfer made within a 90-day period prior to the Petition Date, First Niagara could not perfect its security interests with these latter amendments. 11 | not-forward | www.mondaq.com | https://www.mondaq.com/unitedstates/financial-services/559008/minimal-blanket-maximum-comfort-less-is-more-when-drafting-all-assets-ucc-1-descriptions |
The current system, known as inverse condemnation, exposes the state's utilities to liabilities from wildfires regardless of their negligence, as long as their equipment is involved. The current system pushed PG&E to seek bankruptcy protection in January, as it faced liabilities in excess of $30 billion related to the deadliest wildfires in the state's history. SPREAD THE COSTS The governor's report proposed creating two funds to help utilities pay for wildfire damage claims and spread the cost more widely among stakeholders. Another large utility, Southern California Edison Co, said in a statement that it "is encouraged by the broad scope" of Newsom's report, "which reflects the need to address wildfire liability and regulatory reform." Shares of Edison International, the parent company of Southern California Edison, rose 7.2 percent. Travis Miller of Morningstar Research Services LLC said the news was positive for shareholders, though there is "a long road ahead to implementing policies." | forward | www.marketscreener.com | https://www.marketscreener.com/quote/stock/EDISON-INTERNATIONAL-12435/news/Edison-International-California-governor-proposes-fund-to-pay-for-wildfire-liabilities-PG-E-share-28398687 |
Credit Suisse has battled comparisons to Lehman Brothers, the Wall Street investment bank that filed for bankruptcy protection in September 2008, the peak of the great financial crisis. Bank executives earlier this month reached out to investors and clients to reassure them about Credit Suisse's liquidity and financial position, the Financial Times reported. Credit Suisse's market cap on Thursday was $16.4 billion, far below its more than $22 billion valuation in 2021. "This is a historic moment for Credit Suisse. We are radically restructuring the Investment Bank to help create a new bank that is simpler, more stable and with a more focused business model built around client needs," said Ulrich Körner, Credit Suisse CEO, in a statement. On Thursday, Credit Suisse also reported a net loss of about 4 billion Swiss francs ($4.03 billion) in the third quarter, compared to a profit of 434 million Swiss francs for the same time period in 2021. | forward | fortune.com | https://fortune.com/2022/10/27/credit-suisse-restructuring-asset-sale-9000-headcount-cs-first-boston |
By brand, same-store sales fell 5% at Abercrombie, but rose 3% at Hollister. "Our third quarter results exceeded our expectations coming into the quarter and provide the strongest validation yet that our initiatives are working, said Arthur Martinez, executive chairman, Abercrombie. "We have seen positive customer response to the actions we have been taking on a number of fronts. We saw continued sequential improvement in comparable sales, led by positive comparable sales for our Hollister brand and across our international business." The retailer has been without a CEO for almost a year. It is still considering internal and external candidates, according to a report by Bloomberg Business. "I don't consider this to be a problem at all, and neither does the board," Martinez told Bloomberg Business. "The strategy and momentum are all moving in the right direction. This is not something you want five years from now, but at the moment, our governance structure is working." | not-forward | chainstoreage.com | https://chainstoreage.com/news/abercrombie-fitch-comeback-trail |
It's the only team it hasn't made a payment to so far. "Major League Baseball is ready to produce and distribute games to fans in their local markets in the event that Diamond or any other regional sports network is unable to do so as required by their agreement with our Clubs," according to MLB's statement, which pointed to streaming service MLB.TV and cable-TV channel MLB Network. In addition to Diamond's impending bankruptcy filing, Warner Bros. Discovery is reportedly looking to get out of the regional sports networks business. | forward | www.cnbc.com | https://www.cnbc.com/2023/03/14/diamond-sports-files-for-bankruptcy.html?__source=appletv|proqrcode|featured |
The first such pacts between Kodak and the studios were struck in early 2015, roughly 18 months after the film manufacturer emerged from bankruptcy protection. At the time, its film sales had plummeted as the use of digital imaging technology rose, and the agreements were designed to keep Kodak's film manufacturing business going. | not-forward | www.hollywoodreporter.com | https://www.hollywoodreporter.com/amp/behind-screen/studios-up-kodak-deals-keep-celluloid-film-alive-1274709 |
Shortly after JCPenney CEO Ron Johnson made a splashy presentation to Wall Street on Penney's turnaround plans, Lundgren said he wrote to Johnson to congratulate him. | not-forward | nypost.com | http://nypost.com/2013/02/25/macys-ceo-hung-up-on-martha-stewart-betrayal |
Lucent Technologies ( LU ) agreed to buy some assets from Riverstone Networks for $170 million. As part of the deal, Santa Clara, Calif.-based Riverstone will file for Chapter 11 bankruptcy protection. Under section 363 of Chapter 11, solvent companies can file for protection from creditors in the name of conducting an orderly auction of their assets. Buying the assets of Riverstone, a maker of carrier-grade Ethernet routers for the telecommunications industry, will complement Lucent's broadband, data and optical networking solutions, Lucent said. The Murray Hill, N.J., gearmaker currently resells Riverstone's systems to service providers worldwide to support consumer and business multimedia network services. | not-forward | www.thestreet.com | https://www.thestreet.com/technology/lucent-buying-riverstone-assets-10267028 |
Other carriers have restructured in bankruptcy - only to learn soon afterward that their management's projections of fuel prices, revenues or other variables were flawed. US Airways has made two journeys through bankruptcy court since the 2001 terrorist attacks. Continental Airlines made two trips in an earlier era, and United Airlines is still grappling with cost issues despite having emerged not long ago from a three-year stay in bankruptcy. | not-forward | www.aviationpros.com | http://www.aviationpros.com/news/10392261/northwest-predicts-higher-revenues-post-chapter-11 |
Nortel, after years of turmoil, entered bankruptcy protection in 2009. Since that time, Nortel has sold many of its constituent parts from its wireless enterprise and optics division to foreign companies. In the sell-off of its wireless technology division, the federal government was presented an opportunity to bring together Nortel and RIM of Waterloo to create a newly merged wireless company with RIM and Nortel cutting-edge technology. The Conservative government chose not to do so and refused to review the sale of Nortel's wireless division to Sweden's Ericsson, despite the fact that the Investment Canada Act clearly defined that a review was required. Once again, the Conservative government did nothing. The result was significant. | not-forward | openparliament.ca | https://openparliament.ca/debates/2010/4/28/judy-wasylycia-leis-2/?page=8 |
That would top the $530 million in cash plus $239 million of convertible notes that made up Ciena's winning bid for what was considered one of Nortel's more-prized units. In its filing with the bankruptcy court, Nokia Siemens took issue with the valuation of the convertible note portion of the offer. Nokia Siemens, with One Equity Partners, said it had offered $770 million in cash during the auction, but Nortel picked Ciena instead. A Ciena spokeswoman said the company was aware of the objection, but declined to comment. | not-forward | www.smh.com.au | https://www.smh.com.au/technology/nokia-willing-to-pay-more-for-nortel-assets-20091203-k6pp.html |
We are sorry to have had to take this step and we're doing everything we can to support those affected. This follows a report from Thursday by Bloomberg that OneWeb, which has nearly $3 billion in investment from SoftBank over its past two rounds, is considering filing for bankruptcy protection as one possible way to deal with a crunch in its available cash. Some of the highest-flying SoftBank-backed startups have faced challenges lately, precipitated in part by the high-profile reversal of co-working startup WeWork's fortunes. | forward | techcrunch.com | https://techcrunch.com/2020/03/20/oneweb-confirms-layoffs-and-potential-launch-schedule-delays-amid-reported-bankruptcy-considerations |
Equifax analyzed Chapter 7, 11 and 13 filings, as part of its comparative study on small business bankruptcy petitions quarter over quarter. Equifax classifies a small business as a commercial entity of fewer than 100 employees. | not-forward | www.prnewswire.com | http://www.prnewswire.com/news-releases/small-business-bankruptcies-shrink-for-fourth-straight-quarter-166933836.html |
NEWARK, Calif., April 11, 2025 /PRNewswire/ -- Lucid Group, Inc. (Nasdaq: LCID), maker of the world's most advanced electric vehicles, today announced it has reached an agreement to acquire select facilities and assets in Arizona previously belonging to Nikola Corporation, subject to approval by the U.S. Bankruptcy Court for the District of Delaware. The transaction does not include the acquisition of Nikola's business, customer base, or technology related to Nikola's hydrogen fuel cell electric trucks. | forward | www.finanzen.net | https://www.finanzen.net/nachricht/aktien/lucid-to-acquire-select-facilities-and-assets-previously-belonging-to-nikola-corporation-will-extend-offers-to-300-former-nikola-employees-14385978 |
Disagreements over redemption of those rights, which were granted to Frontier workers in 2011 in exchange for concessions, had delayed a deal for months prior to the announcement. Terms of the deal with Republic gave Indigo until the end of October to resolve those issues. Though the parties offered no comment on Tuesday, sources close to Frontier said that Indigo has a tentative deal in place with FAPA Invest, the fiduciary of the pilot equity interest, and expects to have the flight attendants on board to allow for a close. "A fair deal is in place," one source familiar with the pilot negotiations said. "Pilots are no longer an issue." All parties involved have been motivated to complete a deal. Republic and Frontier workers are eager to undo the company's 2009 purchase of Frontier out of bankruptcy protection, and Indigo hopes to continue to transform Frontier into a so-called ultra-low-cost carrier similar to one-time Indigo portfolio company Spirit Airlines ( SAVE ). | forward | www.thestreet.com | http://www.thestreet.com/story/12087566/1/the-deal-frontier-pilots-on-board-with-indigo-deal.html |
Bankrupt Yellow Corp. has filed a motion with a federal bankruptcy court in Delaware to sell three terminals for approximately $16 million, as reported by FreightWaves. The largest sale involves a 42-door terminal in Ontario, Canada, for $15.6 million, with a local concrete supplier expected to acquire the property. | forward | www.indexbox.io | https://www.indexbox.io/blog/yellow-corp-sells-three-terminals-for-16-million |
See KK-PB Financial LLC v. 160 Royal Palm LLC, 142 S.Ct. 2778 (2022). S ee In re Sears Holdings Corp., 2021 WL 5986997 (2d Cir. Dec. 17, 2021), cert. granted, 142 S. Ct. 2867 (2022). In its decision, the Second Circuit agreed with the district court below, which concluded that MOA's appeal was moot under section 363(m) of the Bankruptcy Code because it failed to obtain a stay of the bankruptcy court order approving the assignment. The Court heard argument in the case on December 5, 2022. | not-forward | www.mondaq.com | https://www.mondaq.com/unitedstates/insolvencybankruptcy/1277490/the-year-in-bankruptcy-2022 |
Its other United Express partners include Mesa Air Group Inc., SkyWest Inc. and privately held Air Wisconsin Airlines Corp. | not-forward | www.chicagobusiness.com | https://www.chicagobusiness.com/article/20030728/NEWS10/20009615/united-commuters-shut-out-of-dulles |
Sino-Ocean Group Holding ( HK:3377 ) has released an update. Sino-Ocean Group Holding Limited has announced that the High Court in England has approved the convening of creditor meetings to discuss the proposed restructuring of its offshore debt. The meetings are set for November 22, 2024, and stakeholders are urged to rely solely on official communications from the company for accurate information. Investors are advised to exercise caution in dealing with the company's securities. For further insights into HK:3377 stock, check out TipRanks' Stock Analysis page. | forward | www.tipranks.com | https://www.tipranks.com/news/company-announcements/sino-ocean-group-moves-forward-with-debt-restructuring |
California Governor Gavin Newsom on Friday rejected the bankruptcy reorganization plan submitted by PG&E Corp (PCG.N), the state's largest investor-owned utility, saying the proposal fails to comply with a recently enacted state wildfire law. | not-forward | financialpost.com | https://financialpost.com/pmn/business-pmn/reuters-news-schedule-at-6-a-m-gmt-1-a-m-et-5 |
Strikingly, Crumbs Bake Shop has traveled through a remarkably similar, painful path to where it sits today. At $1.15 per share, CRMB trades 93% off of its all time intraday high of $16. Incorrect in hindsight, in 2009 critics such as J.P. Morgan's John Ivankoe stated that the novelty of the Krispy Kreme Doughnut shop was lost due to " waning fad appeal ." However, investors who had the stomach to establish a position during the company's lengthy turnaround efforts are now seeing tremendous gains. Even after today's disappointing quarterly earnings and outlook KKD is up 108% year to date and an astounding 1,900% from all time lows. Now, the important question to any value investor is, does Crumbs have the potential to be a 19 | not-forward | seekingalpha.com | http://seekingalpha.com/article/1666562-revisiting-crumbs-bake-shop-is-it-finally-the-next-krispy-kreme?source=cc |
The deal comes as part of American's restructuring under Chapter 11 bankruptcy protection and US Airways' ambitions to grow and vault into the big leagues with airlines the size of Delta and United. US Airways chief executive Doug Parker – who tried but failed to engineer a merger with Delta during Delta's bankruptcy several years ago - sees the deal as the last major airline merger among U.S. carriers. "This is the last major piece needed to fully rationalize the industry, enabling airlines to not only be intentionally competitive but also sustainably profitable," Parker said. | forward | www.ajc.com | https://www.ajc.com/business/airline-merger-wave-crests-with-american-airways/kIN93olj7oKuEgNvnut0AP |
In 2015, private equity firm KKR invested in CCM, taking a majority stake for $258 million. But relations soured last year when CCM sued KKR and other investors for fraud and gross negligence, alleging the latter had made "a deliberate attempt ... to intentionally make false and material misleading statements through the company's 2019 financials by overstating inventory values in order to conceal the fraud and mismanagement of the company. These actions ultimately led to the company restructuring the plaintiff's equity value to pennies on the dollar." | not-forward | finance.yahoo.com | https://finance.yahoo.com/news/dirt-cheap-parent-company-files-010100733.html |
In 2023, Intel reduced its workforce by about 5%, ending the year with 124,800 employees after starting job cuts in October 2022. | not-forward | www.benzinga.com | https://www.benzinga.com/news/24/07/40073980/intel-plans-job-cuts-to-fund-turnaround-efforts-bloomberg |
After seeking billions of dollars in federal aid after the 2008 financial crisis, Chrysler entered bankruptcy protection in June 2009 and emerged a month later under the management of Fiat's Sergio Marchionne. | not-forward | carnewschina.com | https://carnewschina.com/2011/01/12/chrysler-looks-to-china-to-drive-a-sales-recovery |
Before this announcement, there have been 2,187 U.S. store closing announcements this year, with Gymboree and Ascena Retail, the parent of Lane Bryant and other brands, accounting for more than half the total, according to the research firm. | not-forward | www.westernjournal.com | https://www.westernjournal.com/ap-payless-shoesource-to-shutter-all-of-its-remaining-us-stores |
(AP) — A group of Tribune Co. creditors filed a lawsuit Friday alleging the media company's nearly two-year stint in bankruptcy protection might have been averted if not for the greed of big banks who saddled the business with more debt than it could afford to repay. The complaint filed in New York state court seeks to hold the banks behind a $8.2 billion buyout of the Tribune Co. responsible for the financial wreckage left behind by the complicated deal completed in 2007. The lawsuit's targets are JPMorgan Chase & Co.'s bank, Bank of America Corp.'s Merrill Lynch Capital Corp., Citigroup Inc.'s Citicorp and Bank of America. Attempts to reach the banks late Friday were unsuccessful. The lenders provided two phases of financing that that enabled real estate mogul Sam Zell to gain control of a company that owns major newspapers, including the Chicago Tribune and Los Angeles Times, and more than 20 radio and TV stations. | not-forward | www.chicagobusiness.com | http://www.chicagobusiness.com/article/20101029/NEWS06/101029856/suit-says-banks-toppled-tribune-with-debt" |
The avoidance claims dismissed by the bankruptcy court were brought under section 548(a)(1)(A) of the Bankruptcy Code, which empowers a bankruptcy trustee to avoid pre-bankruptcy transfers made with the intent to hinder, delay, or defraud creditors. The court ruled that: (i) the trustee did not adequately allege that Lyondell incurred debt and transferred the payments to shareholders with "actual intent" to hinder, delay, or defraud its creditors; and (ii) the knowledge, conduct, and intent of Lyondell's CEO in connection with the shareholder transfers could not be imputed to Lyondell. The district court reversed on appeal. | not-forward | www.mondaq.com | https://www.mondaq.com/unitedstates/insolvencybankruptcy/550300/in-brief-district-court-denies-lyondell-shareholders-motion-to-reconsider-actual-fraud-imputation-ruling-or-to-certify-direct-appeal |
Sears Holdings filed for bankruptcy protection in October 2018 and was acquired by former CEO Eddie Lampert's hedge fund ESL in a $5.2 billion deal in 2019. Under the newly formed Transformco, dozens of Sears and Kmart stores have closed. | not-forward | www.ibtimes.com | https://www.ibtimes.com/sears-pulls-out-its-home-state-closing-last-store-city-3298154 |
Eastman Kodak (NYSE:EK) is reportedly preparing for a potential bankruptcy filing as early as this month if the once-iconic imaging company's last-ditch effort to unload more than 1,000 patents fails. | forward | www.foxbusiness.com | https://www.foxbusiness.com/features/report-kodak-readies-bankruptcy-filing-shares-plunge-below-50-cents |
An analyst says that Johnson Controls' agreement to buy battery maker A123 Systems' automotive assets is a good strategic fit and gives it access to new lithium ion battery technology. On Tuesday A123 Systems Inc. filed for bankruptcy protection. Johnson Controls Inc., an auto parts and building equipment maker, plans to keep A123 plants open and sell the company's lithium-ion battery technology. | forward | www.manufacturing.net | https://www.manufacturing.net/home/news/13205309/analyst-sees-benefits-to-johnson-controls-deal |
Since then, Judge Mark granted Psystar's motion to dismiss bankruptcy proceedings in the district of Southern Florida, but did so with prejudice. His order stipulated that Psystar cannot file for Chapter 11 bankruptcy for a period of 12 months, and also stipulated that Psystar will not be granted an automatic stay from Apple's case should it attempt to file for Chapter 7 insolvent liquidation. One effect of the judge's orders is that Psystar won't be able to use bankruptcy as a stall tactic against Apple—that trial is set to begin in January. But the other effect of the order is that Psystar can be sued by its creditors. "All of Psystar's creditors are now free to sue in any court of competent jurisdiction to get their debts paid," an attorney familiar with bankruptcy told The Mac Observer. That includes Apple, which Psystar may owe for copies of Mac OS X it bought from the company. | not-forward | arstechnica.com | http://arstechnica.com/apple/news/2009/08/psystar-bankruptcy-dismissed-out-of-the-frying-pan-into-the-fryer.ars |
"We are proud shareholders in one of the leading European online iGaming companies with several strong brands and we firmly believe Betsson has positioned itself very well in regulated markets and recently started interesting B2B activities with their own developed sportsbook," commented Michael Knutsson – CEO of Knutsson Holdings. About Betsson AB Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, primarily in locally regulated markets. Betsson AB is listed at Nasdaq Stockholm, (BETS). www.betssonab.com About Knutsson Holdings Knutsson Holdings AB is a Swedish investment company involved in the gaming industry since 1959. | forward | www.casinolifemagazine.com | https://www.casinolifemagazine.com/news/knutsson-holdings-ab-increases-its-voting-stake-betsson-ab |
In December, a US bankruptcy court judge approved plans to end Lehman's Chapter 11 bankruptcy protection and move it toward liquidation. Its full dissolution depends on settling creditors' claims worth around $US450 billion. Lehman, the poster child of the global financial meltdown, declared bankruptcy on September 15, 2008, after its risky bets on the US housing market turned sour. The officials managing the bankruptcy have called it "the largest and most complex in history," involving 7,000 legal entities in 40 countries, and 75 distinct court proceedings. Creditors continue to battle over how the payouts are made. In mid-February, Lehman's creditors asked a federal court to force US Treasury Secretary Timothy Geithner to testify in a civil suit against JPMorgan's role in the bankruptcy. | not-forward | www.smh.com.au | https://www.smh.com.au/business/lehman-exits-bankruptcy-to-repay-debt-and-vanish-20120307-1uivg.html |
The bankruptcy filing in January 2012 was carried out under Chapter 11, with the primary objective being the continuation of Kodak's operations and the pursuit of a strategic restructuring. A pivotal component of this restructuring strategy involved the sale of the company's substantial digital imaging patent portfolio, totaling around 1,100 patents. | not-forward | www.brandsynario.com | https://www.brandsynario.com/why-did-kodak-declare-bankruptcy-in-2012 |
Any residual sales will be closed in the coming weeks. During its restructuring, GenesisCare was advised by PJT Partners as investment banker, Alvarez & Marsal as restructuring advisor, and Kirkland & Ellis LLP, Herbert Smith Freehills, and Jackson Walker LLP as legal counsel. The ad hoc group of Lenders was advised by Houlihan Lokey, Akin Gump Strauss Hauer & Feld LLP and Arnold Bloch Leibler. | forward | www.healthtechdigital.com | https://www.healthtechdigital.com/genesiscare-completes-reorganisation-and-emerges-from-chapter-11 |
With the acquisition, Beyond will get its hands on a business that reportedly generated $666 million in sales last year — even as the company laid off most of its workforce and went through a liquidation process as part of a surprising downfall. Beyond said it plans to get Zulily up and running again by the end of May, bolstering its position in the "off-price market," which focuses on selling discounted items. Bed Bath & Beyond, the longtime chain retailer that specialized in housewares, filed for Chapter 11 bankruptcy last year. | forward | www.geekwire.com | https://www.geekwire.com/2024/beyond-pays-4-5m-to-acquire-zulily-brand-plans-to-relaunch-flash-sale-site-later-this-year |
Executives said adding Post to the company may give Ralcorp the momentum to pursue more acquisitions in the future. "The Post platform gives us the scale to now look at the potential of branded acquisitions," said David Skarie, co-chief executive officer who will be responsible for Post after the transaction is completed. The deal also allows Northfield-based Kraft to better focus on its own growth strategy. Kraft CEO Irene Rosenfeld has launched a massive turnaround effort aimed at revitalizing sales of the company's brands and is shedding slow-growing divisions to better focus the portfolio of the world's second-largest food company. Post's existing marketing and sales support team will continue to be based in New Jersey, and its existing R&D team will continue to be located in Battle Creek, Mich. | forward | www.cnbc.com | https://www.cnbc.com/2007/11/15/privatelabel-cereal-maker-ralcorp-to-buy-krafts-post.html |
CAR maker GM Holden revealed yesterday that it had posted a $210.6 million loss for calendar 2009 - the fifth run of red ink at the Red Lion in as many years. However, the Australian arm of the giant US company General Motors was able to put a positive spin on the result, saying that auditors' concerns aired in Holden's 2008 financial reports that the company could soon become unviable were no longer being raised. The chief financial officer of Holden, Mark Bernhard, said the poor result was almost all due to the loss of a lucrative export program in which the Australian-made Commodore large family car, rebadged as a Pontiac, was sold in the US. The export program, which was to include a left-hand-drive version of the Holden Ute, was cancelled in April last year after General Motors slipped into Chapter 11 bankruptcy protection in response to the global financial crisis. | not-forward | www.smh.com.au | https://www.smh.com.au/business/holden-profits-still-stuck-in-reverse-20100331-rexz.html |
I have seen pictures of this guy's face on my niece's bedroom wall countless times but only just found out his name. He was a singer with Westlife who invested a huge amount of money in property in Sligo, flash cars and even a helicopter. Things went wrong when the Irish property market went downhill and he was declared bankrupt. He explained recently how he couldn't afford to buy a £30 toy for his son, how he lost his wedding ring in the bankruptcy proceedings and how he had just £470 in his bank account following the hugely successful Westlife farewell tour. He seems to be doing better now and has confirmed that his family now sticks to a more sensible budget. Shane has a new record out and I imagine that my niece has already helped him out by buying a copy. | not-forward | moneybulldog.co.uk | https://moneybulldog.co.uk/famous-people-go-bankrupt-too |
While Dischinger initially thought that it would be "less likely" for Bed Bath & Beyond to file for bankruptcy by the end of the first quarter" of 2023, giving it time to "get on good terms with lenders while continuing to shrink their brick-and-mortar footprint," it happened anyway. | not-forward | marketrealist.com | https://marketrealist.com/p/is-bed-bath-and-beyond-going-bankrupt |
''This was not an intellectual exchange of ideas,'' he recalled. ''The banker was holding his chair. The guy who was head of mergers and acquisitions was running to get him some water. The word 'brilliant' was used seven or eight times.'' Some seven years later, Citigroup's shareholders may be ruing the day that the financial services conglomerate built by Mr. Weill set its sights on Mr. Ebbers and WorldCom. Last week, Citigroup agreed to pay $2.65 billion to settle a class-action lawsuit filed by investors who lost money in WorldCom, which filed for bankruptcy protection two years ago. It is the second-largest class-action settlement in history, after Cendant's, and the largest ever paid by a bank. Clearly, the bank's courtship of Mr. Ebbers, who was indicted last March on charges of securities fraud and conspiracy, is turning out to be costly. | not-forward | www.nytimes.com | http://www.nytimes.com/2004/05/16/business/when-citigroup-met-worldcom.html?_r=0&pagewanted=7&src=pm |
As Warrior Met emerged from the bankruptcy proceedings of the former Walter Energy, which declared bankruptcy in 2016, the new agreement with the union was negotiated. "They made the sacrifices to bring this company out of the bankruptcy of Walter Energy in 2016," Roberts said. "But today, instead of rewarding the sacrifices and work of the miners, Warrior Met is seeking even further sacrifices from them, while demonstrating perhaps some of the worst labor-management relations we've seen in this industry since the days of the company town and company store," Roberts said. Attempts to contact Warrior Met Coal for a statement were unsuccessful for some time. Warrior Met's behaviour during talks has prompted the UMWA to file unfair labour practices charges with the National Labor Relations Board. | not-forward | skillings.net | https://skillings.net/1100-miles-west-alabama-mine-employees-have-announced-their-intention-to-strike |
The filings come amid serious legal scrutiny stemming from a federal lawsuit filed in the United States by Compeer Financial, a Minnesota-based farm credit cooperative. The lawsuit alleges that three Sunterra-owned hog operations — Sunterra Farms, Sunwold Farms, and Lariagara Farms — were involved in a "long-running fraud" scheme. | not-forward | www.swineweb.com | https://www.swineweb.com/canada/sunterra-owned-hog-operations-and-meat-processor-file-for-bankruptcy-protection-amid-fraud-allegations |
2. North Texas Medical Center, which is owned by the Gainesville Hospital District, filed for Chapter 9 bankruptcy Jan. 17. The hospital's board approved a partnership agreement with King of Prussia, Pa.-based Universal Health Services in December. On Jan. 24, the bankruptcy court approved a debtor-in-possession loan that will allow UHS to provide financial support to North Texas Medical Center during the course of the bankruptcy case. | not-forward | www.beckershospitalreview.com | https://www.beckershospitalreview.com/finance/6-latest-hospital-bankruptcies-closures-020717.html |
The lenders have also decided to take to bankruptcy court all step-down subsidiaries of Videocon Industries in order to put in place a comprehensive resolution plan. KPMG has been appointed as resolution professional for all these companies, said one of the executives, who spoke on condition of anonymity. The step-down subsidiaries of Videocon Industries are engaged in activities such as manufacturing, sale and distribution of consumer goods. | forward | cfo.economictimes.indiatimes.com | https://cfo.economictimes.indiatimes.com/news/kpmg-is-now-videocons-resolution-professional/63077331 |
The group's operational activities will continue in Norske Skog AS as normal with as little impact as possible from the bankruptcy proceedings of the listed Norske Skogindustrier ASA. The non-listed Norske Skog AS will be the new operating parent company of the Norske Skog group, and will continue the head office function that has been performed by Norske Skogindustrier ASA. The board and management of Norske Skogindustrier ASA have over an extended period worked hard to achieve a consensual recapitalization of the Norske Skog group and thereby avoid bankruptcy proceedings for the parent company. This work was well advanced and had broad support from the capital structure in October and November 2017. The board's decision to file for bankruptcy is therefore made with great disappointment that this goal was not achieved, said Christen Sveaas, Chairman of the board of Norske Skogindustrier ASA. Click Read More below for additional information. | forward | www.midlandco.com | https://www.midlandco.com/holmen-and-sca-evaluates-a-new-sawmill-in-rundvik |
Although these measures will provide a lifeline for the next four years, annual payout to the government will increase substantially to Rs 477 billion from FY27E. Our estimates already factor in a 15-18 per cent tariff hike in H2FY22, which is essential for VIL to adequately invest in the business to stop the ongoing subscriber losses and comfortably fund interest charges on bank debt. | forward | www.sarkaritel.com | https://www.sarkaritel.com/vodafone-idea-would-opt-for-equity-conversion-during-moratorium/?amp=1 |
Founded in 1943, Jo-Ann has been a leading fabric and craft retailer for over 80 years. The company filed for Chapter 11 bankruptcy protection for the second time in January 2025. Plans include closing 500 of its remaining 800 locations to "right-size" its footprint. Declining sales, increased competition from online retailers, and changing consumer habits have severely impacted Jo-Ann's profitability. The company's inability to adapt to the digital marketplace has further exacerbated its financial woes. | forward | www.ourdebtfreefamily.com | https://www.ourdebtfreefamily.com/retail-chains-struggling-to-survive |
American may cut prices to keep planes full, particularly in anticipation of a slow January and February, but those are typical sale periods for the airlines. But the longer-term impact of an airline bankruptcy is higher ticket prices, not lower ones. As American uses this reorganization to get rid of many big, pricey, old planes, it may also cut their routes. 'With fewer planes in the sky and fewer seats, you may be forced to pay more,' said Mr Parsons. Q: Will flights be safe? Federal safety inspectors have stepped up their surveillance of American Airlines and American Eagle (also owned by AMR), according to the Federal Aviation Administration. 'The FAA acts swiftly to aggressively protect the safety of the traveling public any time an airline files for bankruptcy protection,' said a spokesperson for the agency. But there's no reason to believe that the bankruptcy filing of such a large airline would lead to safety problems. Q: Will the new American be better? | forward | www.dailymail.co.uk | https://www.dailymail.co.uk/news/article-2068044/American-Airlines-vows-honour-airmiles-existing-bookings-slipping-bankruptcy-longer-term-future-affected.html |
Pressured by investors, Tesco filed for bankruptcy and sold the chain to Yucaipa. Tesco invested about $1.6 billion in the venture before deciding to bail out. Fresh & Easy's woes have come as other newcomers to Southern California have come and gone. In late 2013, Assi Natural Market closed less than a year after its much-publicized debut in Irvine. The chain had touted itself as an Asian version of Whole Foods Market. Virginia-based The Fresh Market pulled out of California this year. The European-inspired marketplace had one store open less than a year in Laguna Hills. But the biggest failed venture has been Haggen. Earlier this year, the Pacific Northwest grocer entered the fragmented Southern California grocery market after buying 146 Albertsons and Vons stores. Eleven of its 83 California locations were in Orange County. The rapid expansion into uncharted territory proved a daunting task. | not-forward | www.ocregister.com | http://www.ocregister.com/articles/stores-687730-fresh-easy.html |
If that is not fulfilled, then the deal could fall through. One of GM's conditions is that Spyker's chairman and its biggest investor, Russian banking tycoon Vladimir Antonov, should exit the company if the sale of Saab is completed. It is believed that GM fears Russian involvement in the deal as that could pass Saab's technology into Russian hands and be utilized for building up the Russian auto industry. GM has its own agenda in Russia and would do best to avoid strong competition from Russian carmakers using its own technology. Russia is viewed as one of the most promising emerging markets for the automobile industry. GM's being hit hard by the global financial crisis and was brought into bankruptcy protection. It is currently trying to restructure its business by getting rid of the brands it doesn't need and keep its core brands. While focusing on its four major brands—Chevrolet, Buick, GMC and Cadillac—it has either closed or sold Saab, Pontiac, Saturn, and Hummer. | forward | www.theepochtimes.com | https://www.theepochtimes.com/gm-saab-sale-spyker_1518291.html |
In Puneet Resutra v. Jammu & Kashmir Bank Ltd., the National Company Law Appellate Tribunal (NCLAT), Delhi, dismissed the appeal filed by a shareholder of M/s Ace Engineering (India) Pvt. Ltd., thereby upholding the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against the company. The key issues before the Tribunal | not-forward | taxguru.in | https://taxguru.in/corporate-law/ots-guarantors-extinguish-debt-corporate-debtor-nclat-delhi.html |
Representatives for the lenders declined to comment. Mizuho is a unit of Mizuho Financial Group Inc and Bank of Tokyo-Mitsubishi UFJ is part of Mitsubishi UFJ Financial Group Inc. The parties are unlikely to make any announcement on Thursday after CEO Kozo Takahashi meets with bankers to finalise a deal, the source said. REUTERS | forward | www.businesstimes.com.sg | https://www.businesstimes.com.sg/technology/japans-sharp-banks-near-us17b-bailout-deal-source |
Bud Heath, who owns the business, opened the 8,000-square-foot facility in September, 2016, after relocating from 2030 N. Highland Avenue. The facility was the former home of Say Grace Classic Southern Dining. JCPenney reopens at Old Hickory Mall According to a spokesperson at the Old Hickory Mall, JCPenney reopened Wednesday. Also, according to national reports, Amazon is reportedly in talks to acquire JCPenney, the debt-laden retailer that filed for bankruptcy protection last week. The acquisition of JCPenney could potentially bolster the online retailer's burgeoning apparel business. It's also possible Amazon could be interested in acquiring some of the stores that JCPenney plans to sell and use them as distribution outlets. JCPenney filed for Chapter 11 bankruptcy reorganization Friday, May 15, citing the coronavirus pandemic as a core reason. | forward | talknwesttn.com | https://talknwesttn.com/strictly-business-in-case-you-missed-it-heres-a-look-at-this-weeks-highlights-sponsored-by-buchanan-realty-group-3 |
GM Canada's parent company, General Motors Corp. (NYSE:GM), has so far been unable to reach an agreement with its bondholders, and it is widely assumed the company will be forced to file for bankruptcy protection in the United States to work out a solution. | forward | toronto.citynews.ca | https://toronto.citynews.ca/2009/05/25/caw-members-approve-gm-cost-cutting-deal |
"Our union family will do everything in our power to protect the livelihoods of every member," said a statement from the United Food and Commercial Workers released after the bankruptcy filing two weeks ago. "We expect Haggen to do what is right by their hard-working employees and their families," the union said. Haggen owes $50 million-$100 million to as many as 5,000 creditors, a figure equal to its assets, according the the bankruptcy filing., alleging anti-competitive practices and fraud in the wake of a deal that saw the chain take over 146 Albertsons and Safeway stores as those companies merged. Haggen, owned by private equity firm Comvest Partners, paid about $300 million for the stores throughout the West earlier this year. | not-forward | www.tucsonsentinel.com | https://www.tucsonsentinel.com/local/report/092815_haggen/union-blasts-haggen-store-closures |
PCHI and some of its subsidiaries filed Chapter 11bankruptcy protection Dec. 21 in the U.S. Bankruptcy Court for the Southern District of Texas. In the filing, the company states it has from $1 billion to $10 billion in liabilities and from 10,000 to 25,000 creditors. The company had tried to restructure in 2023, eliminating nearly $1 billion in debt. Stores will remain open to facilitate going-out-of-business sales. An employee at the Fort Collins Party City who answered the phone Thursday said he was unable to comment on the closings, and he could not estimate how much longer the store would remain open through its closing sale. Party City is a global leader in the celebrations industry with locations across more than 70 countries. As North America's largest party goods retailer, Party City was considered the go-to retailer for party products. Peters said his son reached out to their Amscan representative last week, and he learned of the immediate shutdown of the company. "It'll be challenging. From catering to everyday products, to licensed products and balloons, there's going to be a lot of scrambling going on to keep things up and fill things back in," Peters said. | not-forward | bizwest.com | https://bizwest.com/2024/12/26/party-city-shuts-down-local-party-retailers-affected |
According to BloombergQuint, while putting forth its argument in the top court BIL had said that UltraTech's out-of-court offer ensured that all Binani Cement creditors would be paid in full. UltraTech meanwhile argued that there were no grounds to disqualify them from making the offer. The Competition Commission of India gave its approval to the UltraTech bid two weeks ago, which it previously claimed was the reason why it was not rated as the highest bidder for Binani Cement. | not-forward | www.businesstoday.in | https://www.businesstoday.in/current/corporate/supreme-court-rejects-out-of-court-settlement-for-binani-cement/story/274793.html |
Ambac's lead bankruptcy attorney, William Smith of Chicago, declined to comment on how a Chapter 9 bankruptcy filing by the monorail would be better for his company than a Chapter 11, and attorneys with no involvement in the case tell the Sun they are not sure how Ambac would benefit from a Chapter 9 filing. | not-forward | lasvegassun.com | http://lasvegassun.com/news/2010/jan/22/after-all-promises-will-taxpayers-be-stuck-monorai |
To regain its financial footing, Zynga has set in motion a turnaround plan, which includes expanded cost savings, led by Chief Executive Officer Don Mattrick. | forward | www.foxbusiness.com | https://www.foxbusiness.com/features/zynga-names-former-best-buy-executive-cfo |
PETALING JAYA: Borders Malaysia's operations will not be affected by US-based Borders Group Inc's filing for bankruptcy. Berjaya Books Sdn Bhd, which operates the Borders chain in Malaysia, said in a statement that Borders Malaysia was an independent entity. "Borders Group Inc does not have any shareholdings in Borders Malaysia. Borders Malaysia is owned and operated by Berjaya Books, a wholly-owned subsidiary of Berjaya Corp Bhd," it said. | not-forward | www.thestar.com.my | https://www.thestar.com.my/business/business-news/2011/02/18/borders-msia-not-affected-by-bankruptcy-filing-in-us |
Randolph, Massachusetts - Dunkin' Donuts Inc. said that it, along with a group of its franchisees, would pursue a possible bid for the assets of the Bess Eaton Donut Flour Co., which filed Monday for Chapter 11 bankruptcy in Rhode Island. Dunkin' Donuts, a coffee and baked-goods chain with more than 5,800 units, said it would "aggressively compete" for the 48 Bess Eaton Coffee and Bake Shops, which operate in Rhode Island, Connecticut and Massachusetts. In a statement, the company noted that the proposed deal between Bess Eaton and Tim Hortons Inc., the 2,527-unit doughnut-cafe subsidiary of Wendy's International Inc., was still subject to approval of the bankruptcy court and creditors. "Ultimately, the purchaser will be determined on a full and fair bidding process," George Condos, Dunkin' Donuts brand officer said. Sources close to the bankruptcy proceedings said Krispy Kreme Doughnuts Inc. and its franchisees also are interested in bidding for the Bess Eaton units. | forward | www.entrepreneur.com | https://www.entrepreneur.com/business-news/small-business-dunkin-donuts-krispy-kreme-eye-bess/69878 |
Those problems began in February, after the Federal Communications Commission (FCC) rejected LightSquared's plans to launch its LTE network due to concerns that it would interfere with both commercial and military GPS technology. Because of this development, Leap Wireless has decided to buy future LTE connectivity for its Cricket prepaid service from Clearwire, another troubled wireless company (of which Sprint is the largest stakeholder). Earlier this year, LightSquared client FreedomPop also decided to go with Clearwire. But by far the biggest setback for LightSquared came in March after its $9 billion 15-year agreement with Sprint-Nextel to build and host its LTE network fell through. | not-forward | venturebeat.com | https://venturebeat.com/2012/05/14/lightsquare-bankruptcy |
Boeing took a first-quarter charge of $318 million charge related to its $3.9 billion contract with the Air Force for new presidential planes. Boeing fired and sued subcontractor GDC Technics, which in turn laid off about 200 workers and filed for bankruptcy protection this week. GDC, hired for interior work on the planes, filed a countersuit against Boeing. | not-forward | apnews.com | https://apnews.com/article/health-business-coronavirus-391cc4f715f18655bbaa3dbc050e5847 |
The closure follows the manufacturer's filing for Chapter 11 bankruptcy protection in January, which it described as only a financial restructuring following a garnishment judgment against Kazuo Okada, founder of Universal and Aruze Gaming's sole shareholder. | not-forward | ggbnews.com | https://ggbnews.com/article/aruze-gaming-to-close-play-synergy-buying-aruze-ops |
SandRidge Energy Inc. ( SD ) announced Tuesday morning that the company has emerged from Chapter 11 bankruptcy protection and the stock has resumed traded under its previous ticker symbol, SD, on the New York Stock Exchange. In its pre-arranged Chapter 11 filing in May, the company's new capital structure includes $425 million in a reserve-based lending facility and about $282 million in mandatorily convertible debt that bears no interest and may be converted at any time at the holders' option or mandatorily at the earlier of certain events or four years from the effective date of the plan. Under the terms of the deal, creditors exchanged $3.7 billion in debt for control of the company. | not-forward | finance.yahoo.com | https://finance.yahoo.com/news/sandridge-energy-emerged-bankruptcy-525-165000144.html |
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