Business Events Bankruptcy

  • The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and affiliates of Milfam II LP under which these lenders have offered to buy Cosi's assets and serve as a "stalking horse" bidder in a sale process. The company said it had net sales of $22.3 million, with net losses of about $3.1 million and cash on...

  • In court documents, Cosi Inc. said it has between $10 million and $50 million in assets and the same amounts in debt. Last month, the company reported a second-quarter loss of $3.1 million after reporting a loss of $3.8 million in the same period a year before. Cosi said that its lenders AB Opportunity Fund, AB Value Partners and firms connected to Milfam, are...

  • Cosi

    Cosi filed for Chapter 11 bankruptcy protection Wednesday in federal court in Massachusetts. USAToday reports.

  • Oil workers, rig, lows

    About 100 oil and gas companies have filed for bankruptcy since the start of the oil price rout, and as many more could file before the cycle ends.

  • The Boston- based company, known for its homemade flat bread, has assets of $31.24 million and debt of about $20 million, according to a court filing. The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and entities affiliated with Milfam II LP under which the DIP lenders offered to buy Cosi's...

  • The company, known for its homemade flat bread, has assets of $31.24 million and debt of about $20 million, according to a court filing. The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and entities affiliated with Milfam II LP under which the DIP lenders offered to buy Cosi's assets and serve as...

  • CHICAGO, Sept 27- Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy. The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed in...

  • Caesars Entertainment Corp.'s Caesars Palace casino stands in Las Vegas, Nevada.

    Caesars said on Tuesday it has struck a $5 billion deal, paving the way out of a costly bankruptcy.

  • CHICAGO, Sept 27- Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy. The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed in...

  • CHICAGO, Sept 27- Hold-out creditors of Caesars Entertainment Corp's bankrupt operating unit accepted a sweetened $5 billion deal on Tuesday that could finally extricate the casino company from a costly bankruptcy. Following are key events in the $18 billion bankruptcy of the Las Vegas- based casino group's main operating unit, Caesars Entertainment...

  • The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed for bankruptcy in January 2015. Under the agreement, which still needs approval from the U. S Bankruptcy Court in Chicago, first-lien bank lenders will recover roughly 115 cents on the dollar, about 1 cent less than previously agreed upon. Junior creditors, who had...

  • The Las Vegas- based company's main operating unit, Caesars Entertainment Operating Co Inc, filed for bankruptcy in January 2015. The deal still needs approval from the U. S Bankruptcy Court in Chicago. Under the agreement, Caesars and its private equity owners, Apollo Global Management and TPG Capital Management, offered junior creditors an increased recovery...

  • Caesars offered a sweetened $5 billion settlement last week to hold-out creditors of its main operating unit, Caesars Entertainment Operating Co Inc. In exchange, creditors would have to drop their allegations of fraud prior to the unit's bankruptcy in January 2015 with $18 billion of debt. Caesars and its private equity owners Apollo Global Management and...

  • SHANGHAI, Sept 27- The landmark bankrupcty of Guangxi Nonferrous Metals Group Co Ltd is in line with central government objectives such as eliminating "zombie enterprises," said the commission responsible for managing state assets in China's Guangxi Zhuang Autonomous Region, according to online financial magazine Caixin. Unlisted Guangxi Nonferrous,...

  • Sept 26- Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion settlement last week to hold-out creditors of its main operating unit,...

  • Sept 26- Caesars Entertainment Corp is "optimistic" of finally reaching a $5 billion agreement with creditors to push its main operating unit out of a long and costly bankruptcy, the Las Vegas- based casino group said in a statement on Monday. The company's main operating unit, Caesars Entertainment Operating Co Inc, filed for Chapter 11 protection in January 2015...

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday as creditors thrashed out the terms of a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed for bankruptcy in January 2015. The latest offer from Caesars...

  • CHICAGO, Sept 23- Shares of Caesars Entertainment Corp slid on Friday, a day after hitting a 16- month high, as investors awaited a midnight deadline for creditors to accept a sweetened $5 billion deal that could finally extract the casino company from a costly bankruptcy. The company's main operating unit, Caesars Entertainment Operating Corp Inc, or CEOC, filed...

  • Oil workers make a pipe connection on a drilling rig near Encinal, Texas.

    Rising prices embolden creditors and shareholders to challenge drillers' restructuring plans, putting a bankruptcy exit at risk.

  • CHICAGO, Sept 21- Caesars Entertainment Corp said on Wednesday it proposed along with its private equity backers a settlement offer with an added $1.6 billion for creditors of its casino operating unit, raising hopes of an end to the subsidiary's costly bankruptcy. Apollo Global Management and TPG Capital Management, the private equity firms that control the...