Business Events Bankruptcy

  • Edward Lampert speaks during a news conference to announce the merger of Kmart and Sears in New York Wednesday, Nov. 17, 2004.

    Sears' unsecured creditors filed an objection Thursday morning to Chairman Eddie Lampert's deal to save the company through his hedge fund, ESL Investments.

  • Jan 17- Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved offer of $5.2 billion, Sears said on Thursday, allowing it to keep its more than 400 stores running. Sears picked Lampert's hedge fund ESL Investments Inc as the winner at a bankruptcy court-supervised auction after his...

  • Eddie Lampert, CEO of Sears.

    Sears Chairman Eddie Lampert's winning bid creates a path for the company to emerge from bankruptcy.

  • SEARS HOLDINGS ANNOUNCES ESL INVESTMENTS AS WINNING BIDDER IN BANKRUPTCY COURT-SUPERVISED AUCTION.

  • Jan 17- Fitch Ratings said on Thursday power company PG&E Corp's planned bankruptcy will not at this point hurt the credit quality of California. Inverse condemnation is an old California rule that exposes the state's utilities to liabilities from wildfires regardless of their negligence, as long as their equipment is involved. BlueMountain said nearly two...

  • The logo for Pacific Gas & Electric Co. appears above a trading post on the floor of the New York Stock Exchange, Monday, Jan. 14, 2019.

    PG&E shareholder BlueMountain Capital Management on Thursday said the U.S. power company's decision to file for bankruptcy was unnecessary, arguing that there was evidence the company was solvent.

  • Jan 17- PG&E Corp shareholder BlueMountain Capital Management LLC on Thursday said the U.S. power company's decision to file for bankruptcy was unnecessary, arguing that there was evidence the company was solvent. Earlier this week, the biggest U.S. power utility by customers said it was preparing for Chapter 11 bankruptcy protection as soon as this month amid...

  • Pedestrians walk past a Gymboree store in San Francisco, California.

    Children's clothing retailer Gymboree filed for Chapter 11 bankruptcy protection, the second time in almost two years, and said on Wednesday it will close more than 800 Gymboree and Crazy 8 stores.

  • Jan 17- Clothing retailer Gymboree Group Inc said late Wednesday it filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Eastern District of Virginia.

  • Protesters hold signs as they stage a demonstration inside the lobby of the Pacific Gas and Electric (PG&E) headquarters on December 11, 2018 in San Francisco, California.

    Pacific Gas & Electric said it will file for bankruptcy, raising concern that rates for electricity and gas will rise and victims of wildfires won't get all the money they may be owed.

  • Eddie Lampert

    Sears reached a roughly $5 billion deal with Chairman Eddie Lampert to keep the company and about 400 stores open.

  • NEW YORK, Jan 16- Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126- year-old retailer to keep its doors open, people familiar with the matter said Wednesday. The billionaire's proposal, made through his hedge fund ESL...

  • NEW YORK, Jan 16- Sears Holdings Corp Chairman Eddie Lampert prevailed in a bankruptcy auction for the U.S. department store chain with an improved takeover bid of roughly $5.2 billion, allowing the 126- year-old retailer to keep its doors open, people familiar with the matter said Wednesday. The billionaire proposal, made through his hedge fund ESL Investments...

  • A pedestrian walks by a Payless Shoe Source store on April 5, 2017 in San Francisco.

    U.S. discount retailer Payless ShoeSource has hired an advisor to help evaluate strategic alternatives, including a sale or restructuring, less than 18 months after it emerged from bankruptcy.

  • NEW YORK, Jan 15- PG&E Corp bonds and shares plummeted after the California power company failed to make a $21.6 million interest payment due Tuesday on its 2040 senior notes, as it planned to seek Chapter 11 bankruptcy protection. In a form filed with the U.S. Securities and Exchange Commission on Monday, PG&E announced its intention to not make the payment.

  • Jan 15- U.S. discount retailer Payless ShoeSource Inc has hired an adviser to help evaluate strategic alternatives, including a sale or restructuring, less than 18 months after it emerged from bankruptcy, people familiar with the matter said on Tuesday. Payless exited bankruptcy in 2017 with about $400 million in loans, after slashing its debt pile from over...

  • Jan 15- Shares in California power company PG&E fell sharply for a second day on Tuesday as investors took fright at the prospect of bankruptcy proceedings to protect from $30 billion in potential liabilities related to wildfires in 2017 and 2018.. California politicians are in a quandary over whether to offer a bailout or risk allowing the state's largest...

  • Pacific Gas and Electric (PG&E) crews repair power lines that were destroyed by the Camp Fire on November 21, 2018 in Paradise, California.

    The announcement by the nation's largest utility that it is filing for bankruptcy puts Pacific Gas & Electric's problems squarely in the hands of Gov. Gavin Newsom and state lawmakers.

  • Jan 15- PG&E Corp's chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to keep the utility owner perpetually on the hook for liabilities from catastrophic wildfires even beyond the more than $30 billion the company expects to face from recent blazes. The doctrine, known as "inverse condemnation,"...

  • Jan 14- PG&E Corp, owner of the biggest U.S. power utility by customers, said on Monday it is preparing to file for Chapter 11 bankruptcy protection as soon as this month amid pressure from potentially crushing liabilities linked to California's catastrophic wildfires in 2017 and 2018.. PG&E, which provides electricity and natural gas to 16 million customers in...