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  • BALDWYN, Miss.— Fabric and sewing supply retailer Hancock Fabrics filed for Chapter 11 bankruptcy protection Tuesday, seeking to reorganize for the second time in nine years. The company, based in Baldwyn, Mississippi, made the filing Tuesday in U.S. Bankruptcy Court in Delaware, saying that revenues for the holiday retail season were $8 million below...

  • U.S. zinc producer Horsehead files for bankruptcy Tuesday, 2 Feb 2016 | 10:37 AM ET

    WILMINGTON, Del., Feb 2- Horsehead Holding Corp, a large U.S. zinc producer, filed for Chapter 11 bankruptcy on Tuesday due to a slump in metals prices and a shortage of cash. The Pittsburgh- based company is the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. Commodity prices have...

  • SAN FRANCISCO, Feb 1- The outlook is so bleak for a bankrupt biotechnology company briefly led by controversial investor Martin Shkreli that its management should be replaced by an independent trustee, a government bankruptcy watchdog argued on Monday. Trustee, an arm of the Justice Department that oversees bankruptcy administration, on Monday asked the U.S....

  • CHICAGO, Feb 1- Outer Harbor Terminal LLC filed for Chapter 11 bankruptcy protection on Monday, two weeks after terminating its lease held in a joint venture with Ports America. Last month, Ports America, one of the largest marine cargo operators in the country, said it was shifting its business from the Oakland port to other cities along the West Coast, including...

  • NEW YORK, Feb 1- Puerto Rico's utility PREPA, which has been negotiating a restructuring deal with creditors, on Monday released its financial statements for 2014, showing a 37 percent slide in operating income for the year. Accounts receivable rose by 7.2 percent to $1.6 billion, with those from the government sector up 30 percent to $803.7 million.

  • SAO PAULO, Feb 1- Brookfield Asset Management Inc has withdrawn an offer to buy the 24.4 percent stake in infrastructure company Invepar held by Brazil's Grupo OAS SA because the Canadian firm was not given full management control of the company, two sources with direct knowledge of the situation said on Monday. Brookfield failed to reach an agreement with...

  • SAO PAULO, Feb 1- Brookfield Asset Management Inc has withdrawn an offer to buy the 24.4 percent stake in infrastructure company Invepar held by Brazil's Grupo OAS SA because Brookfield would not have full management control of the company, two sources with direct knowledge of the situation said on Monday. Brookfield failed to reach an agreement with OAS's...

  • CHICAGO, Feb 1- Oakland's Outer Harbor Terminal filed for Chapter 11 protection on Monday, two weeks after one of its biggest tenants said it was terminating a 50- year lease with the northern California port. Last month, Ports America, one of the largest marine cargo operators in the country, said it was shifting its business from the Oakland port to other cities...

  • RCS Capital listed total assets of $2 billion and debts of $1 billion in its Chapter 11 filing in Delaware, court documents showed on Monday. Under the restructuring plan, lenders will inject $150 million into broker-dealer Cetera and ties to Schorsch will be cut by eliminating common shares and some $500 million in preferred stock, court documents showed.

  • NEW YORK— The company behind the Electric Zoo and Tomorrowland music festivals has filed for Chapter 11 bankruptcy protection. New York- based SFX Entertainment Inc. says, however, that its festivals and events will continue as planned. In the past year, SFX's chairman and CEO Robert Sillerman tried unsuccessfully to buy the company and take it private.

  • WILMINGTON, Del, Feb 1- SFX Entertainment Inc, a promoter of electronic dance music festivals, filed for Chapter 11 bankruptcy on Monday to cut $300 million of debt and seek fresh funding to pay artists and other key vendors. The company has pursued a global roll-up strategy, scooping up promoters and festivals such as Dayglow Productions, known for its paint...

  • SAN JUAN, Puerto Rico— Puerto Rico's government is pushing a bond swap with creditors to help generate revenue as U.S. legislators prepare to debate creation of an oversight authority to help pull the island out of a deepening economic crisis. "A crisis of this magnitude must be addressed in concert, otherwise we risk our ability and the opportunity to escape the...

  • *To rationalise production in Europe and Brazil. The restructuring announced on Monday includes the closure of two rolling mills in France, one threading line in Germany and a heat treatment line in Scotland, leading to the loss of about 1,000 jobs on top of previously announced cuts. "Our plan significantly adjusts our industrial footprint in Europe to address...

  • Feb 1- RCS Capital Corp, a brokerage firm tied to real-estate investor Nicholas Schorsch, filed for Chapter 11 bankruptcy protection to reduce debt and as per the plan its key lenders will assume control of the company. The company listed total assets of $1.98 billion and debts of $1.39 billion, on a consolidated basis, in its bankruptcy filing.

  • Brokerage firm RCS Capital files for bankruptcy Sunday, 31 Jan 2016 | 11:42 PM ET

    Jan 31- RCS Capital Corp, a brokerage firm tied to real-estate investor Nicholas Schorsch, filed for Chapter 11 bankruptcy protection to reduce debt and as per the plan, its key lenders will assume control of the company. The company listed total assets of $1.98 billion and debts of $1.39 billion, on a consolidated basis, in its bankruptcy filing.

  • RIO DE JANEIRO, Jan 29- Hypermarcas SA, the largest Brazilian producer of personal care goods, said on Friday its board has agreed to the sale of its contraception division to Britain's Reckitt Benckiser for 675 million reais.

  • Puerto Rico seeks debt exchange deal with creditors Friday, 29 Jan 2016 | 3:25 PM ET

    SAN JUAN, Puerto Rico— Puerto Rico is pushing for a voluntary debt exchange deal with creditors as it struggles to manage a $72 billion public debt load that the governor has said is unpayable and needs restructuring. He reiterated a call for U.S. Congress to provide Puerto Rico with a debt-restructuring mechanism so it can avoid lawsuits as it tries to emerge...

  • Caterpillar closing 5 plants, cutting 670 jobs Friday, 29 Jan 2016 | 3:19 PM ET

    Caterpillar says it plans to close five plants, causing a net reduction of about 670 jobs in Illinois and several other states, as part of a broader cost-cutting campaign announced last year. The mining and construction equipment company will cut about 230 jobs for office and production workers at a major manufacturing campus in East Peoria, Illinois, where...

  • *Caesars wants a decision before a March trial in New York. CHICAGO, Jan 29- The bankrupt operating unit of Caesars Entertainment Corp will soon ask a U.S. judge to shield its parent from $12 billion of lawsuits to facilitate a debt-cutting rescue deal, but approval could set a bad precedent for creditors. Hedge fund bondholders have sued Caesars in New York and...

  • Say China coal miners to get time off over Lunar New Year. BEIJING, Jan 29- In a break with tradition, 15 Chinese coal mining groups have said they will close operations and allow workers to leave their posts during the Lunar New Year holidays next month, taking some pressure off a sector burdened by massive overcapacity. Spot thermal coal in Qinhuangdao port has...