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Business Events Bankruptcy

  • ROME— The risk of bankruptcy looms for Italy's flagship airline, Alitalia, after employees resoundingly rejected proposed salary cuts and layoffs that were aimed at securing investments and keeping the carrier afloat. It was unclear if the Italian government might try to convince European Union officials to allow a "bridge loan" for Alitalia to ease the...

  • Tim Sloan, CEO of Wells Fargo.

    Wells Fargo has presented the Federal Reserve with a satisfactory plan on how to unwind its business in case of bankruptcy.

  • A record amount of bankruptcy filings have set the pace for the retail industry

    A record amount of bankruptcy filings have set the pace for the retail industry.

  • *Shares hit 14- month low of $3.02 in morning trading. Shares of the company, known for its form-fitting dresses and other apparel, hit a 14- month low of $3.02 in morning trading but were later up about 7 percent. Bebe could consider filing for bankruptcy to settle favorably with landlords of their stores, Joel Levitin, a partner in law firm Cahill Gordon& Reindel's...

  • April 20- Central Grocers Inc, a supplier to independent grocery stores in the Midwestern United States, is considering a bankruptcy filing as one possible option as it struggles with its debt, according to people familiar with the matter. Central Grocers is working with law firm Weil Gotshal& Manges LLP, investment bank Peter J. Solomon Co, and consultants from...

  • TOKYO, April 14- Potential rescuers of Japan's Takata Corp have extended talks, already in their 14th month, for a deal to take over the air bag maker at the heart of the auto industry's biggest safety recall, people briefed on the process said. Car-parts maker Key Safety Systems Inc and Bain Capital LLC are the preferred bidder for Takata, whose faulty air bags have...

  • Tough times for Toshiba

    Toshiba is reportedly unsure whether it will be able to stay in business.

  • People walk along the sidewalk in the rain on Christmas Eve on December 24, 2014 in New York City.

    Moody's analyst Charles O'Shea and former Saks CEO Steve Sadove shared their views on retail on CNBC"s "Power Lunch" Friday.

  • April 6- Rue21 Inc is preparing to file for bankruptcy as early as this month, according to people familiar with the matter, as the U.S. teen fashion retailer faces a big debt pile and declining foot traffic. The chain, which sells budget-priced clothing and accessories at about 1,100 stores in malls, strip centers and outlet centers across the United States, is...

  • The growing list of retailers filing bankruptcy

    CNBC's Courtney Reagan takes a closer look at retailers that have filed for bankruptcy this year.

  • TOKYO, April 5- Toshiba Corp sacked Westinghouse Electric Co's chairman two days before the U.S. nuclear engineering subsidiary filed for bankruptcy protection last week, as the Japanese firm tries to draw a line under the travails of a business that has cost it billions of dollars. A spokesman for Toshiba said Danny Roderick was replaced as Westinghouse's...

  • *Dismissal designed to reassure clients before bankruptcy. TOKYO, April 5- Westinghouse Electric Co LLC fired its chairman two days before the U.S. nuclear engineering unit of Toshiba Corp filed for bankruptcy last week, as the Japanese firm tries to draw a line under the travails of a business that has cost it billions. Toshiba's spokesman said Westinghouse...

  • CHICAGO, April 4- Discount footwear retailer Payless ShoeSource said it had filed for Chapter 11 protection on Tuesday with a plan to restructure debt and immediately close 400 underperforming stores in the United States and Puerto Rico. Privately owned Payless Inc joins a long list of U.S. brick-and-mortar retailers to fall victim to declining mall traffic...

  • CHICAGO, April 4- U.S. coal miner Peabody Energy Corp returned to the New York Stock Exchange on Tuesday after emerging from a year-long $8 billion Chapter 11 bankruptcy with far less debt and an industry champion in the White House. Shares in Peabody, the world's largest private-sector coal producer, were trading at $29.80 in late morning, down from an opening...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Drill rig operator Seadrill warned investors that its shares will lose almost all of their value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Seadrill, which first warned in February that...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Drill rig operator Seadrill warned investors that its shares will lose almost all of their value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Seadrill, which first warned in February that...

  • *Westinghouse bankruptcy allows Engie to exercise sell option-Toshiba. TOKYO, April 4- Japan's Toshiba Corp said on Tuesday it will buy French power utility Engie's 40 percent stake in their British nuclear joint venture NuGen for 15.3 billion yen. Toshiba said the transaction could cause a writedown of 49.7 billion yen, but this has been already factored in...

  • The West Phoenix oil platform, operated by Seadrill Norge AS, right, stands with other unused platforms in the Port of Cromarty Firth in Cromarty, U.K.

    Seadrill warned its stock will lose almost all of its value as the Norwegian company prepares for potential bankruptcy proceedings.

  • OSLO, April 4- Rig firm Seadrill warned on Tuesday that its stock will lose almost all of its value and its bonds will be hit as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. Shares in Seadrill, which was once the crown jewel in shipping tycoon John Fredriksen's empire, were down 40 percent...

  • *Restructuring talks extended by 3 months to July 31. OSLO, April 4- Rig firm Seadrill warned shareholders on Tuesday that their stock will lose almost all of its value as the Norwegian company prepares for potential bankruptcy proceedings to restructure $14 billion in debt and liabilities. The company said its banks and other lenders had agreed to extend...