GO
Loading...

Enter multiple symbols separated by commas

Business Failures

More

  • CAMDEN, N.J., Feb 9- A lawyer representing the buyer of the bankrupt Revel Casino in Atlantic City said his client would miss a midnight Monday deadline to complete the purchase, amid concerns over precisely what his client is buying. Florida developer Glen Straub wanted to buy the casino without any obligation to existing leases held by the bars, clubs and...

  • Feb 8- A federal judge in New Jersey on Sunday called a temporary halt to the pending sale of bankrupt Revel Casino in Atlantic City and scheduled a hearing on Monday on a motion to block some of the terms of the $94.5 million deal. U.S. District Court Judge Jerome B. Simandle ordered an emergency hearing for 3 p.m. in the proposed sale of the property to Florida...

  • RadioShack would accept liquidation bids -lawyer Friday, 6 Feb 2015 | 4:45 PM ET

    Feb 6- A lawyer for RadioShack on Friday said the bankrupt electronics chain would accept all kinds of bids for its assets, including from liquidators, although any transaction would require court approval. RadioShack, which filed for Chapter 11 protection on Thursday, has a tentative deal to sell as many as 2,400 of its 4,100 stores to an affiliate of hedge fund...

  • Feb 5- Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder. Wireless company Sprint Corp would operate as many as 1,750 of those stores under an agreement with Standard General, Sprint...

  • Feb 5- Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to Sprint and an affiliate of hedge fund Standard General, its lender and largest shareholder. RadioShack listed $1.2 billion of assets and $1.39 billion of debts in its Chapter 11 filing in U.S. Bankruptcy...

  • CHICAGO, Feb 5- Chicago Mercantile Exchange lean hogs sagged to a six-year low Thursday, pressured by continued worries over plentiful supplies that sank futures to a five-year bottom on Wednesday, traders said. Burdensome supplies dropped the afternoon's average price for market-ready or cash hogs in Iowa/ Minnesota by $1.24 per hundredweight from...

  • UPDATE 1-Chemical maker W.R. Grace to split in two Thursday, 5 Feb 2015 | 8:09 AM ET

    Feb 5- Specialty chemical manufacturer W.R. Grace& Co said it would split into two companies to improve strategic focus, simplify operating structures and make better use of capital. W. R. Grace said one company, which is likely to have sales of about $1.8 billion, will consist of its businesses that make products used in the refining, petrochemical, personal care and...

  • Jan 21- JPMorgan Chase& Co got a painful reminder on Wednesday that we all have to live with our mistakes, even a clerical mix-up that could cost $1.5 billion. A federal appeals court in Manhattan ruled on Wednesday that, although it was not JPMorgan's intention, it clearly authorized its law firm to file papers in 2008 that unsecured much of a loan to General Motors.

  • 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...

  • 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.

  • Dec 15- The trustee handling the liquidation of the brokerage unit of Lehman Brothers Holdings Inc filed a petition with the U.S. Supreme Court on Monday seeking review of the business's cash assets awarded to Barclays Plc. Trustee James Giddens, who has been seeking to recoup money for the brokerage's creditors, said lower court rulings granting margin assets...

  • Delia*s files for Chapter 11 bankruptcy protection Monday, 8 Dec 2014 | 7:54 AM ET

    Dec 8- Teen apparel retailer Delia* s Inc filed for Chapter 11 bankruptcy protection and said it had hired advisers to help liquidate its assets. The company listed total assets of $74 million and liabilities of $32.2 million in its filing on Sunday with a U.S. bankruptcy court. The company also said Chief Executive Tracy Gardner and Chief Operating Officer Brian...

  • Dec 5- Delia* s Inc said it was liquidating assets and would file for Chapter 11 bankruptcy protection "in the very near term," becoming the second teen retailer to go out of business in as many days. Delia* s announcement wiped out more than 85 percent of the company's market value on Friday. Sales at Delia* s, which has 95 mall-based stores, has fallen for six quarters in a...

  • Benchmark Brent crude oil on Monday rose more than 3 percent, the most in two years, on speculation that its sharp drop following last week's OPEC meeting was overdone. Iraq's government said it reached an agreement with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey.

  • Iraq's government said it reached an agreement with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey. "The Iraqis deal with the Kurds for oil exports is the one headline sticking out in today's market, a reminder that the oversupply in oil isn't going away easily," said Joseph...

  • Crumbs shows risks of being a one-hit wonder Wednesday, 9 Jul 2014 | 6:24 AM ET
    A selection of cupcakes is seen at Crumbs Bake Shop.

    When Crumbs shuttered its remaining stores, it seemed like an abrupt ending for a company that opened a decade ago to ride the wave of popularity of the sugary treat.

  • Loehmann's department store in the Chelsea neighborhood of New York.

    Loehmann's, the 92-year-old discount clothing chain, has filed for bankruptcy protection for a third time and said it is prepared to sell its assets to a group of liquidators.

  • Orchard Goes Bankrupt; Lowe's Plays Stalking Horse Monday, 17 Jun 2013 | 7:11 AM ET

    Orchard Supply Hardware Stores has filed for Chapter 11 bankruptcy protection, with rival retailer Lowe's Companies set to buy the majority of its assets for $205 million in cash.

  • Specialized hedge funds which transformed corporate bankruptcies may be poised to descend on another landscape: struggling cities and counties - and no place beckons more than Detroit.

  • Big Depositors in Cyprus to Lose Far More Than Feared Saturday, 30 Mar 2013 | 3:48 AM ET

    Under conditions to be announced Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, while the rest may never be paid back.