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Business Events Bankruptcy

  • NEW YORK, Sept 14- Women's shoe retailer Aerosoles Group is planning to file bankruptcy to exit its unprofitable store leases, people familiar with the matter said on Thursday. Edison, New Jersey- based Aerosoles and its private equity owner Palladin Consumer Retail Partners did not return calls or emails seeking comment. Reuters reported in July that the...

  • PARIS, Sept 14- French investors owning bonds in oil services group CGG, which filed for bankruptcy in June, said they had launched a legal action to protest against the move. The legal action was launched by Schelcher Prince Gestion, HMG Finance, La Financiere de lEurope, Keren Finance and Delta AM. CGG, which has debts in excess of $3 billion, could be one of the biggest...

  • MUMBAI, Sept 13- Ericsson's Indian subsidiary has filed insolvency petitions against Reliance Communications and two of its companies to recover unpaid dues, the Indian mobile operator said in a stock exchange filing on Wednesday. The filing said the Ericsson case would go before the National Company Law Tribunal, the designated court for bankruptcy cases...

  • OSLO, Sept 12- Seadrill Ltd, the indebted oil rig firm controlled by Norwegian billionaire John Fredriksen, has agreed a restructuring that almost wipes out existing shareholders after filing for Chapter 11 bankruptcy protection. "With our improved capital structure, we will be in a strong position to capitalise when the market recovers," said Anton Dibowitz,...

  • *Routes from Duesseldorf to Caribbean to end from Sept 25. BERLIN, Sept 11- Insolvent German airline Air Berlin is scrapping more long-haul flights, this time to the Caribbean from Duesseldorf, because it needs to reduce the fleet due to preliminary insolvency proceedings, it said on Monday. It is also bringing forward the cancellation of other long-haul...

  • GE shares are trading lower than after Lehman's bankruptcy

    GE's relentless decline this year to below $24 takes investors back to where it was trading during the dark days of the 2008 financial crisis.

  • NEW YORK, Sept 6- Toys "R" Us Inc has hired law firm Kirkland& Ellis LLP to help weigh restructuring options ranging from a bankruptcy filing to raising financing as bricks and mortar retail goes through a major downturn, according to a person familiar with the matter. The privately held toy retailer had previously said it was working with investment bank Lazard Ltd...

  • Toys R Us hires law firm as it explores possible bankruptcy filing

    Toys R Us has hired a law firm to help restructure its roughly $400 million in debt due in 2018.

  • A man shopping in a Toys-R-Us store in Fairfax, Virginia.

    Toys R Us has hired advisers to restructure its debt, in a move that could result in a bankruptcy filing.

  • NEW YORK, Sept 5- Vitamin World, a seller of vitamins and nutritional supplements, plans to file for Chapter 11 bankruptcy, hoping to end costly lease agreements for some of its stores, the company's chief executive officer said on Tuesday. Long Island, New York- based Vitamin World plans to file bankruptcy in order to exit real estate leases that were negotiated by...

  • NEW YORK, Sept 5- Vitamin World, a Long Island, New York- based seller of vitamins and nutritional supplements, plans to file Chapter 11 bankruptcy, hoping to end costly lease agreements for some of its stores, the company's chief executive officer said on Tuesday. Vitamin World plans to file bankruptcy in order to exit real estate leases that were negotiated by its...

  • Sept 4- Avocet Mining said on Monday its subsidiary Societe des Mines de Belahouro, which operates the Inata gold mine in Burkina Faso, may file for insolvency after a loan repayment freeze with its creditors expired. In Burkina Faso, the company owns 90 percent of the Inata Gold Mine that produced 72,485 ounces of gold in 2016.. The West Africa- focused company...

  • *Plan likely to involve raising $1 billion in new capital. OSLO, Aug 24- Offshore driller Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, aims to raise $1 billion in new capital, and said existing shareholders may not recover any of the value of their stocks, sending the firm's shares down. Seadrill said the restructuring plan was...

  • OSLO, Aug 24- Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, and aims to raise $1 billion in new capital, it said on Thursday. "Our primary objective at the moment is concluding final negotiations on our comprehensive restructuring plan, which is at an advanced stage and likely to be implemented via...

  • OSLO, Aug 24- Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring in mid-September, and aims to raise $1 billion in new capital, the company said on Thursday. Once the biggest offshore rig firm by market value and the crown jewel in the business empire of Norwegian billionaire John Fredriksen, Seadrill shares have...

  • HARTFORD, Aug 23- Connecticut, one of the wealthiest states in the nation, also has some of the highest debt levels and its capital city of Hartford is facing potential bankruptcy. Governor Dannel Malloy, a second-term Democrat who is not seeking reelection, discussed with Reuters tough decisions he has wrestled with to address a fiscal calamity decades in the...

  • Bankrupt utility company abandons $9 billion Warren Buffett deal

    Bankrupt Texas utility Energy Future Holdings will drop a deal to sell Oncor to Berkshire Hathaway.

  • The board of bankrupt Texas utility Energy Future Holdings will meet later on Sunday to decide whether to sell its crown jewel, power transmission company Oncor, to Buffett's Berkshire Hathaway Inc or accept an opposing bid from Sempra Energy, a person familiar with the confidential deliberations said on condition of anonymity. The rival bid for Oncor was...

  • The board of bankrupt Texas utility Energy Future Holdings will meet later on Sunday to decide whether to sell its crown jewel, power transmission company Oncor, to Buffett's Berkshire Hathaway Inc or accept an opposing bid from Sempra Energy, a person familiar with the confidential deliberations said on condition of anonymity. The rival bid for Oncor was...

  • FRANKFURT, Aug 17- Germany's Lufthansa is in talks to buy a majority of insolvent Air Berlin's aircraft, with the backing of Berlin, which is pushing for a national aviation champion, media reports said on Thursday. Berlin granted a bridging loan of 150 million euros to allow the airline to keep its planes in the air for three months and secure the jobs of its 7,200...