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Business Events Bankruptcy

  • Thousands of “zombie” enterprises in China are kept alive by local governments and state-owned banks, Financial Times reports.

  • Feb 24- BCBG Max Azria Group LLC, whose form-fitting party dresses have been worn by celebrities Selena Gomez, Drew Barrymore and others, is making preparations to file for bankruptcy as soon as next week, people familiar with the matter said on Friday. Its owner, investment firm Guggenheim Partners, did not respond to requests for comment. In a call with landlords...

  • Feb 24- Appliances and electronics retailer hhgregg Inc is preparing to file for bankruptcy as soon as next month, Bloomberg reported. Indianapolis- based hhgregg's shares slumped as much as 40.8 percent to 23 cents on Friday. The retailer is still seeking an out-of-court solution that would help it prevent filing a Chapter 11, Bloomberg reported, citing...

  • Feb 24- Appliances and electronics retailer hhgregg Inc is preparing to file for bankruptcy as soon as next month, Bloomberg reported on Friday. The retailer is still seeking an out-of-court solution that would help it prevent filing a Chapter 11, Bloomberg reported, citing people familiar with the matter. Indianapolis- based hhgregg's shares fell 20 percent...

  • Feb 24- Appliances and electronics retailer hhgregg Inc is preparing to file for bankruptcy as soon as next month, Bloomberg reported on Friday. The retailer is still seeking an out-of-court solution that would help it prevent filing a Chapter 11, Bloomberg reported, citing people familiar with the matter. The Indianapolis, Indiana- based company's stock has...

  • TOKYO, Feb 24- Toshiba Corp, responding to media reports, said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 protection from creditors- an option analysts say could jeopardize the entire group. The Nikkei business daily reported Toshiba was now looking at a potential Chapter 11 filing as one of several...

  • TOKYO, Feb 24- Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering seeking protection from creditors, an option analysts say could put the entire TVs-to-construction conglomerate at risk if exercised now. In theory, it could help the Japanese firm draw a line under problems at Westinghouse that have resulted in a...

  • TOKYO, Feb 24- Japanese conglomerate Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection. A Chapter 11 filing could help Toshiba draw a line under a decade-long U.S. nuclear venture that has pushed the Japanese group to the brink, forcing it to offer a majority stake in its...

  • TOKYO, Feb 24- Toshiba Corp said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 bankruptcy protection.

  • "We have prayerfully looked at all possible options, trusting God's plan for our organization, and the difficult decision to liquidate is our only recourse," Chuck Bengochea, the company's president, said in a statement. The chain filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt in the face of a sales slump amid growing...

  • Feb 22- A judge has crushed the hopes of a group of investors in Ultra Petroleum Inc, a bankrupt natural gas company, who had sought to collect a $300 million windfall because a clerk entered a court order on the wrong date. Bankruptcy Judge Marvin Isgur approved on Feb. 13 the disclosures for Ultra's plan to emerge from Chapter 11, although his order was not put on the...

  • Feb 22- Creditors of Puerto Rico's sales tax authority have asked a federal court to prevent the U.S. territory from diverting the revenue that guarantees its debt to repay other investors, the latest volley in an escalating battle. Crippled by high poverty and nearly insolvent public health and pension systems, Puerto Rico is trying to restructure $70 billion...

  • Feb 21- Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt U.S. women's apparel retailer The Limited with a bid of $26.8 million, people familiar with the matter said on Tuesday. Sycamore Partners outbid clothing firm Sunrise Brands LLC in the auction, the people said, asking not to be identified...

  • WILMINGTON, Del., Feb 17- Energy Future Holdings Corp, which owns the largest power network in Texas, received court approval on Friday to confirm its plan to exit bankruptcy and be acquired by NextEra Energy Inc in a deal valued at around $18 billion. Approval from the Public Utility Commission of Texas is required for the purchase of Energy Future's power...

  • Court declares Hanjin Shipping bankrupt

    A South Korean court picked a bankruptcy administrator and says any claims by creditors will be due by May 1.

  • NEW YORK— Ringling Bros. and Barnum& Bailey Circus may be shuttering, but Big Apple Circus has managed to cartwheel itself out of bankruptcy. A judge on Tuesday approved a deal that would save the circus by selling its tents, equipment and intellectual property to Big Top Works, an affiliate of the Florida- based investment firm Compass Partners LLC.

  • SAO PAULO, Feb 10- A group of bondholders in Oi SA appealed on Friday a ruling by a Dutch court that refused to declare insolvent two subsidiaries in the Netherlands, the latest setback in a protracted legal battle to solve Brazil's largest bankruptcy case on record. "The restructuring should treat similarly situated creditors equally," the International...

  • CHICAGO, Feb 8- A U.S. federal appeals court dismissed an emergency appeal by opponents of Peabody Energy Corp's reorganization plan on Wednesday, saying any complaints should be lodged after the plan is confirmed by the bankruptcy court. A bankruptcy panel of the 8th U.S. Circuit Court of Appeals did not address the merits of the motion. Peabody hopes to emerge...

  • CHICAGO, Feb 6- Opponents of Peabody Energy Corp's reorganization plan have filed an emergency appeal against a key piece of the coal producer's proposal they say violates U.S. bankruptcy law by prematurely requiring creditors to promise support it. At the heart of creditors' complaints are the terms of a $1.5 billion private recapitalization that Peabody...

  • Feb 6- Eastern Outfitters LLC, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to...