Business Events Bankruptcy

  • CHICAGO, Jan 17- Caesars Entertainment Corp has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings. Caesars' subsidiary, Caesars Entertainment Operating Co Inc, won court approval on Tuesday for a plan...

  • CHICAGO— A federal judge gave the thumbs-up Tuesday to a plan to reorganize a subsidiary of casino giant Caesars Entertainment Corp., clearing the way for the operating unit to exit bankruptcy two years after filing for Chapter 11 protection with $18 billion in debt. District Judge Benjamin Goldgar in Chicago is a "major milestone," said Mark Frissora, CEO of the...

  • Retailers filing for bankruptcy in the past year include Aeropostale Inc, Pacific Sunwear of California Inc, Sports Authority, Vestis Retail Group and American Apparel. An affiliate of private equity firm Sycamore Partners agreed to provide a $25.75 million "stalking horse" bid for the company's intellectual property, which includes its trademarks, website...

  • CHICAGO, Jan 17- Caesars Entertainment Corp's main operating unit won court approval on Tuesday for a plan to shed $10 billion of debt and end a contentious $18 billion bankruptcy filed nearly two years ago to the day. Bankruptcy Judge Benjamin Goldgar said at a hearing in Chicago after approving the reorganization plan. The Caesars subsidiary, Caesars...

  • 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...

  • NEW YORK— The Big Apple Circus is up for sale. Buyers can put in bids by a Feb. 3 deadline. The circus said its debts amounted to $8.3 million, against assets of $3.8 million, in its Chapter 11 filing.

  • This photo taken May 5, 2014 shows a pickup truck driving down a road of the Homer City Generating Station in Homer City, Pa.

    U.S. coal plant owner Homer City Generation files for bankruptcy, Reuters reports.

  • 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...

  • The American Apparel logo is displayed outside of a store in New York City.

    Next Level Apparel challenges Gildan with bid for bankrupt American Apparel.

  • 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...