Business Events Bankruptcy

  • Shoppers line up next to hot tubs as they wait for a Sears Holdings Corp. store to open ahead of Black Friday in Peoria, Illinois.

    Sears Holdings saw same-store sales increase for the first time in years as customers returned to its stores for liquidation sales.

  • MOSCOW, Dec 14- Palmali, one of the biggest players in Russia's river-to-sea cargo market, plans to appeal against a court decision declaring its Russian business bankrupt and effectively handing its fleet over to Sberbank, the shipping firm's owner said on Friday. Last month, a court in Rostov-on-Don in southern Russia declared the Palmali unit bankrupt.

  • Houston- based Parker listed total debts of $695.5 million and assets of $937.2 million in its bankruptcy petition. The drilling company, which has not turned an annual profit since 2014, owes $585 million to unsecured bondholders, $2.18 million to National Oilwell Varco, $749,487 to Hi-Tech Tubular Service, and $388,800 to Schlumberger NV, according to its...

  • HOUSTON, Dec 12- Oilfield services provider Parker Drilling Co said it filed for bankruptcy protection on Wednesday under an agreement with a group of debtors that will allow it to quickly restructure. The plan, which is subject to court approval, will reduce its funded debt by two-thirds and inject $95 million of equity capital through a backstopped rights...

  • SAO PAULO, Dec 11- Brazil's fourth-largest airline, Avianca Brasil, filed for bankruptcy protection on Monday, saying its operations had been threatened by potential repossession of aircraft, which could prevent the carrier from continuing to operate. Latin American airlines, which have to pay a large part of their routine expenses- including fuel- in dollars...

  • *Singapore regulators bar Noble from re-listing. In an unusually strong move, Singapore on Thursday issued a joint statement by police, the Monetary Authority of Singapore, and Singapore Exchange regulators that barred Noble from re-listing on the local bourse, which was part of its end-game strategy in a controversial $3.5 billion debt-for-equity...

  • Dec 6- Sears Holdings Corp Chairman Eddie Lampert's ESL Investments Inc has made an offer valued at $4.6 billion to buy the bankrupt U.S. retailer, one of the only options that would prevent the department store chain from shutting its doors for good. Lampert's offer calls for about 500 Sears stores to remain open and would keep 50,000 of the retailer's workers...

  • A man walks by a Sears store.

    Sears Chairman Eddie Lampert presents his plan through a bid for the company led by his hedge fund, ESL Investments.

  • Dec 5- Puerto Rico dispersed millions of dollars in holiday bonuses to government workers on Wednesday despite a warning from its federally appointed oversight board that doing so could harm the bankrupt U.S. commonwealth's ability to make payroll later in the current fiscal year. Puerto Rico has been in federal court since 2017 trying to restructure around...

  • Nov 29- Puerto Rico concluded a U.S. bankruptcy court-approved restructuring of its Government Development Bank debt, marking its first consensual deal with creditors under a federal oversight law, government officials announced on Thursday. The GDB deal addresses only about $4 billion of the $120 billion of debt and pension obligations Puerto Rico is...

  • Eddie Lampert

    Eddie Lampert has said in court filings his hedge fund, ESL Investments, is planning to buy roughly 500 of Sears' stores, helping it to emerge from bankruptcy. It has been unclear how ESL would finance such a bid. 

  • Kenmore appliances are offered for sale at a Sears retail store on July 20, 2017 in Schaumburg, Illinois. 

    Sears won court approval for $350 million in critical bankruptcy financing that will keep the 125- year-old retailer operating through the holidays. 

  • NEW YORK/ SAN FRANCISCO, Nov 27- Sears Holdings Corp won court approval on Tuesday for $350 million in critical bankruptcy financing that will keep the 125- year-old retailer operating through the holidays while it attempts to reorganize. Cyrus' loan replaced a similar deal Sears reached earlier this month with Great American Capital Partners, a financial...

  • NEW YORK/ SAN FRANCISCO, Nov 27- Sears Holdings Corp won court approval on Tuesday for a new deal clinching $350 million in critical bankruptcy financing that will keep the 125- year-old retailer operating through the holidays while it attempts to reorganize. Sears reached the deal with Cyrus Capital Partners LP for the financing just before a hearing began in...

  • Employees walk towards the entrance of a Toys R Us Inc. retail store in Frederick, Maryland, U.S., on Monday, April 16, 2018. 

    The private equity firms that owned Toys R Us before the company declared bankruptcy earlier this year have each pledged $10 million to create the TRU Financial Assistance Fund, which aims to distribute funds to former employees. 

  • NEW YORK, Nov 14- Sears Holdings Corp is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday. The loan from Great American Capital Partners,...

  • A man walks by a Sears store.

    Sears is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize. 

  • NEW YORK, Nov 14- Sears Holdings Corp is finalizing a deal with financial firm Great American Capital Partners and other lenders for $350 million in bankruptcy financing that would keep the retailer open through the holiday season while it attempts to reorganize, people familiar with the matter said on Wednesday. The loan from Great American Capital Partners,...

  • Sears Holdings Corp. and Toys 'R' Us Inc. signage is displayed outside a shopping center in Montebello, California.

    Sears is nearing a deal with new lenders to increase a bankruptcy financing package to as much as $600 million from $300 million without Chairman Eddie Lampert's hedge fund contributing, people familiar with the matter said on Monday.

  • In this Nov. 17, 2004 file photo, Kmart chairman Edward Lampert listens during a news conference to announce the merger of Kmart and Sears in New York.

    Sears is in discussions with Chairman Eddie Lampert and lenders on a deal to expand a bankruptcy financing package that would help it avoid liquidation, people familiar with the matter said.