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Bankruptcy

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  • Garden gnome fans fret: SkyMall files for bankruptcy Friday, 23 Jan 2015 | 1:35 PM ET

    NEW YORK— Apparently, airline passengers aren't buying enough garden gnomes, superhero pajamas and heated cat shelters. While flying high over Iowa, they could dream about owning a $16,000 multisensory home sauna or maybe just a grill spatula with a built-in flashlight for $29.95. They don't have a captive audience, "says John DiScala, who runs the travel advice...

  • Jan 23- SkyMall, whose in-flight shopping catalogs have long been a staple of airline travel, has filed for bankruptcy protection, blaming changing consumer habits and the loss of contracts from two major carriers, Delta and Southwest. Xhibit and SkyMall filed for Chapter 11 protection from creditors on Thursday night in the U.S. bankruptcy court in Phoenix,...

  • In-flight catalog SkyMall files for bankruptcy Friday, 23 Jan 2015 | 10:55 AM ET

    Finding it hard to flourish in a smartphone-dominated world, in-flight catalog maker SkyMall has filed for bankruptcy, according to a court filing.

  • ATLANTIC CITY, N.J.— In naming an emergency manager for Atlantic City on Thursday, New Jersey Gov. Neither man would say whether a Detroit-style bankruptcy filing is in store for Atlantic City, calling such talk premature. But the emergency order Christie issued gives Lavin the power "to place the finances of Atlantic City in stable condition on a long-term basis...

  • Garlock, a unit of EnPro Industries, filed for bankruptcy in 2010 in Charlotte, North Carolina, in the face of the mounting cost of asbestos lawsuits. Golini allegedly told Philadelphia- based Shein he was exposed to 14 asbestos products made by bankrupt companies including Owens Corning and Armstrong World Industries. After Garlock settled with Golini, Shein...

  • NEW YORK— A month after it was fined $47 million for misleading investors, Life Partners Holdings said Tuesday it filed for Chapter 11 bankruptcy protection. The Securities and Exchange Commission filed a lawsuit against the company in 2012, saying that Life Partners Holdings and three executives misrepresented revenues and public information.

  • UPDATE 1-Life Partners Holdings files for bankruptcy Tuesday, 20 Jan 2015 | 2:26 PM ET

    Jan 20- Life Partners Holdings Inc, which deals in the secondary market for life insurance, said it filed for bankruptcy on Tuesday as it pursues an appeal of a $46 million judgment against it and two executives over misleading investors about the core aspects of its business. The U.S. Securities and Exchange Commission had sued Life Partners in 2012 and sought to...

  • Life Partners Holdings files for bankruptcy Tuesday, 20 Jan 2015 | 1:46 PM ET

    Jan 20- Life Partners Holdings Inc, which deals in the secondary market for life insurance, said it filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of Texas.

  • Remember these stores? Retailers that went bust Friday, 16 Jan 2015 | 12:42 PM ET

    We've pulled together a list of just some of retailers that have disappeared over the last 25 years. Bring on the nostalgia.

  • Wet Seal files for Chapter 11 bankruptcy Friday, 16 Jan 2015 | 10:36 AM ET
    Wet Seal clothing

    Wet Seal filed for bankruptcy protection late, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores.

  • NEW YORK— The Wet Seal Inc. has filed for Chapter 11 bankruptcy protection in an effort to keep its remaining teen clothing stores open. Wet Seal had warned last month that it might need to file for bankruptcy protection if it did not resolve its cash issues after reporting another quarter of losses. Wet Seal and other chains are being hurt by stores like H&M and...

  • Jan 16- Wet Seal Inc filed for bankruptcy protection late on Thursday, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. Wet Seal, which reported slowing year-on-year sales growth for the past five quarters, warned last month that it may seek to restructure under provisions of the U.S. Wet Seal sells apparel and...

  • Retailer Wet Seal files for Chapter 11 bankruptcy Friday, 16 Jan 2015 | 12:03 AM ET

    Jan 16- Wet Seal Inc filed for bankruptcy protection late on Thursday, a week after the struggling apparel retailer laid off 3,700 employees and closed 338 stores. The company listed assets of $10 million to $50 million and liabilities of $100 million to $50 million, according to the filing. Wet Seal sells apparel and accessories for teen girls and young women...

  • Japan Inc says goodbye to going bust in 2014 Thursday, 15 Jan 2015 | 8:10 PM ET

    For the first time in 24 years, no company listed on Japan's stock markets went bankrupt, a sign Abenomics is working for companies in capital markets.

  • ATLANTIC CITY, N.J.— All three Atlantic City casinos owned by Caesars Entertainment remain open, despite a Chapter 11 bankruptcy filing Thursday by a unit of the global gambling giant. Caesars Entertainment Operating Company, the subsidiary of Caesars Entertainment that filed for bankruptcy, owns two of the company's three Atlantic City casinos— Bally's and...

  • WILMINGTON, Delaware/ CHICAGO Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday in Chicago to cut $10 billion of debt, but a Delaware judge intervened to halt the case before it got started. The bankruptcy was filed overnight by Caesars Entertainment Operating Company Inc and 179...

  • Mark Cohen, former Sears Canada CEO, and CNBC's Courtney Reagan, remark on the challenges facing RadioShack.

  • Caesars unit files Chapter 11  Thursday, 15 Jan 2015 | 10:53 AM ET

    Caesars Entertainment put its largest unit into bankruptcy, reports CNBC's Morgan Brennan.

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt, but faced an immediate challenge over where the case should proceed. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc and scores of affiliates...

  • TORONTO, Jan 15- Target Corp said on Thursday it will cease operations in Canada and has filed for creditor protection for its Canadian subsidiary in a surprise move that could put its 17,600 employees in the country out of work. Huge supply chain problems left stores thinly stocked, disappointing shoppers who had eagerly anticipated the retailer's move into...