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Business Events Bankruptcy

  • Jan 17- Limited Stores LLC, parent of U.S. women's apparel chain The Limited, said on Tuesday it filed for bankruptcy, the latest brick-and-mortar retailer to reorganize as shoppers shift to fast-fashion retailers and online competitors. Sun Capital Partners Inc, the private equity owner of Limited Stores LLC, disclosed on Friday in a letter to investors that...

  • Jan 17- Limited Stores LLC, owner of U.S. women's apparel chain The Limited, said on Tuesday it filed for bankruptcy. Limited Stores also said it agreed to sell its intellectual property and some related assets to an affiliate of private equity firm Sycamore Partners. Limited Stores, which filed for Chapter 11 protection in the Delaware bankruptcy court, said on...

  • The company had 2,166 employees at its headquarters in Los Angeles, and 959 employees at the nearby South Gate manufacturing facility. Francisco Morales, 56, who made clothes for seven years at the Los Angeles plant, was one of the American Apparel workers to be handed his employment termination notice and his last paycheck on Monday. Last week, American Apparel...

  • The company had 2,166 employees at its headquarters in Los Angeles, and 959 employees at the nearby South Gate manufacturing facility. Francisco Morales, 56, who made clothes for seven years at the Los Angeles plant, was one of the American Apparel workers to be handed his employment termination notice and his last paycheck on Monday. Last week, American Apparel...

  • Jan 16- American Apparel LLC started to lay off staff on Monday after Canada's Gildan Activewear Inc withdrew its initial plan to buy some of the bankrupt U.S. fashion retailer's manufacturing operations, company employees said. Many of the 2,166 employees at the company's headquarters in Los Angeles and 959 employees at the nearby South Gate manufacturing...

  • Jan 16- American Apparel LLC started to lay off staff on Monday after Canada's Gildan Activewear Inc withdrew its initial plan to buy some of the bankrupt U.S. fashion retailer's manufacturing operations, people familiar with the matter said. Many of the 2,166 employees at the company's headquarters in Los Angeles and 959 employees at the nearby South Gate...

  • Jan 11- Homer City Generation L.P., which owns three coal-fired electric power plants in the United States, filed for bankruptcy on Wednesday. NRG Energy Services will continue as the operator of Homer City's three plants, which are located near Pittsburgh, Pennsylvania and have an aggregate net capacity of 1,884 megawatts. The reorganization plan was...

  • NEW YORK, Jan 9- Canadian apparel maker Gildan Activewear Inc has won a bankruptcy auction for U.S. fashion retailer American Apparel LLC after raising its offer to around $88 million, a person familiar with the matter said Monday. The auction for the retailer also attracted an offer from California- based apparel maker Next Level Apparel, a source said earlier on...

  • Jan 4- Bankrupt renewable energy company SunEdison Inc has reached a deal with a spinoff company that helps clear the way for a $150 million sale of its solar materials business to a Chinese buyer, according to court papers filed on Tuesday. In addition, SunEdison Semiconductor gets an administrative expense claim of nearly $2.7 million and a general unsecured...

  • Transmar Group is a major buyer and processor of cocoa beans with operations in the United States, Europe, South America and West Africa. The filing came shortly after Transmar Group's European operation Euromar Commodities GmbH, a German cocoa grinder and significant customer to the U.S. company, declared insolvency in early December, adding to Transmar...

  • CHICAGO, Dec 23- Peabody Energy Corp failed to explain how it will cover future mine cleanup costs in a reorganization plan filed late Thursday, triggering concerns over the company's use of "self-bonds." Howard Learner, executive director of the Chicago- based Environmental Law& Policy Center, said the reorganization plan dodged the issue of self-bonding,...

  • CHICAGO, Dec 23- Caesars Entertainment Corp's bankrupt operating unit resolved a dispute with its lenders on Friday, paving the way for a consensual plan to push the casino group out of its $18 billion Chapter 11.. In filings with the U.S. Bankruptcy Court in Chicago, bank lenders said they had reached an agreement over their recovery terms and were withdrawing a...

  • CHICAGO, Dec 23- Shares of Caesars Entertainment Corp rose almost 10 percent on Friday after a court filing showed that creditors of the casino group's bankrupt operating unit had reached an agreement over their recovery terms, raising hopes that a high-stakes restructuring plan will be salvaged. A dispute between creditors holding secured debt in Caesars...

  • CHICAGO, Dec 23- Creditors of Caesars Entertainment Corp's bankrupt operating unit have reached an agreement to revise the terms of their recoveries, according to a filing with the U.S. Bankruptcy Court in Chicago on Friday.

  • Looking ahead to next year, restructuring advisers said they expect more energy-related bankruptcy filings, as the sector prepares for an upturn that could follow implementation of President-elect Donald Trump's pro-drilling agenda or OPEC's plan to cut oil production for the first time in eight years. Denver- based Bonanza Creek, with oil and natural gas...

  • CHICAGO, Dec 22- Leading global coal producer Peabody Energy said on Thursday its main creditors support a plan to wipe more than $5 billion of debt from its balance sheet and exit the largest energy-related U.S. bankruptcy this year. Under a reorganization plan filed with the U.S. Bankruptcy Court in St. Louis, Peabody said it expects to cut its debt to $1.95...

  • WILMINGTON, Del., Dec 20- Energy Future Holdings Corp and its senior creditors agreed to an $800 million deal aimed at bringing the owner of Texas's largest network of power lines works out of Chapter 11 next year, according to a securities filing on Tuesday. The deal follows a federal appeals court ruling in November that found Dallas- based Energy Future was...

  • SAO PAULO, Dec 16- Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais and a plunge in shipbuilding. In a statement on Friday, Ecovix said Banco Brasil Plural SA and law firm Felsberg Advogados will advise it on bankruptcy protection...

  • Dec 16- U.S. oilfield services firm Forbes Energy Services Ltd is preparing to file for bankruptcy as soon as this month, as it struggles with approximately $300 million in debt, people familiar with the matter said on Friday. Competing oilfield services firms Key Energy Service Inc, C&J Energy Services Ltd and Basic Energy Services Inc have all filed for...

  • Trump's pick for Israel ambassador hints at embassy move

    President-elect Donald Trump nominates David Friedman as new US ambassador to Israel.