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Bankruptcy

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  • 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...

  • Bankruptcy on the horizon for RadioShack: Report Thursday, 15 Jan 2015 | 6:55 AM ET
    RadioShack closes a store in New York.

    Electronics retailer RadioShack may be filing for bankruptcy by next month, according to a Wall Street Journal report.

  • Caesars Entertainment's unit files for bankruptcy Thursday, 15 Jan 2015 | 4:26 AM ET
    Caesars Entertainment Corp.'s Caesars Palace in Las Vegas.

    The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday.

  • Caesars Entertainment says its main business unit has filed for bankruptcy protection with the support of most of its creditors. Caesars says in a statement Thursday that its casinos will continue to operate and it expects to get court approval to continuing paying its suppliers. Caesars has struggled after missing out on the casino boom in Asia.

  • LAS VEGAS— A cash-strapped division of casino giant Caesars Entertainment Corp. filed for bankruptcy protection Thursday in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion in debt. The bankruptcy filing doesn't apply to parent company Caesars Entertainment Corp. and affiliated companies Caesars Growth Partners and...

  • LAS VEGAS— Caesars unit says it filed Chapter 11 bankruptcy in bid to trim its $18.4 billion debt burden.

  • 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. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc and several affiliates in the U.S. Bankruptcy Court for the Northern District of Illinois.

  • 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.

  • Markets split on endgame for Caesars' looming bankruptcy Wednesday, 14 Jan 2015 | 7:17 PM ET

    Jan 14- On the eve of Caesars Entertainment Corp's $10 billion debt-cutting bankruptcy, markets are reflecting two competing views of how the casino company's high-stakes plan will play out. "The fact there is equity value in Caesars, that equity value describes a really optimistic view of how this will play out," said Chris Snow, an analyst with CreditSights.

  • The next day they asked the judge assigned to the involuntary case to stay any voluntary bankruptcy until the Delaware bankruptcy judge can rule on the proper court to hear the case. Earlier on Tuesday, a Caesars attorney told a Delaware state court judge the company will seek to extend to itself the legal shield of bankruptcy protection once its operating unit...

  • RadioShack offered $500M loan: Report Tuesday, 13 Jan 2015 | 7:51 AM ET
    RadioShack closes a store in New York.

    Salus Capital would provide $500 million to RadioShack in a kind of debtor-in-possession loan used by companies to fund operations in bankruptcy.

  • Jan 12- A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was the plundering of the company. The involuntary bankruptcy petition was filed by affiliates of Appaloosa Management, Oaktree Capital Management and...