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Business Events Bankruptcy

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

    Only a handful of the retailers that filed for bankruptcy in 2017 have successfully re-emerged.

  • July 13- A federal judge on Friday rejected an attempt by a major Puerto Rico bondholder to throw out the U.S. territory's historic municipal bankruptcy case. District Judge Laura Taylor Swain ruled that the creation by the U.S. Congress of a financial oversight board for Puerto Rico under a law known as PROMESA and the appointment of the board's members did not...

  • July 13- A federal judge on Friday rejected an attempt by a major Puerto Rico bondholder to throw out the U.S. territory's historic municipal bankruptcy case. District Judge Laura Taylor Swain ruled that the creation by the U.S. Congress of a financial oversight board for Puerto Rico under a law known as PROMESA and the appointment of the board's members did not...

  • July 12- U.S. entrepreneur Bryan Goldberg, the owner of websites Bustle, Elite Daily and The Zoe Report, has prevailed in the bankruptcy auction for Gawker.com with what sources said on Thursday was a $1.35 million bid. The sale to Goldberg marks the end of Gawker's nearly two- year stay in bankruptcy court and came as Univision Communications Inc looks to sell the...

  • July 12- U.S. entrepreneur Bryan Goldberg, the owner of websites Bustle, Elite Daily and The Zoe Report, has prevailed in the bankruptcy auction for Gawker.com with what sources said on Thursday was a $1.35 million bid. The sale to Goldberg marks the end of Gawker's nearly two- year stay in bankruptcy court and comes as Univision Communications Inc looks to sell the...

  • IndyMac Bank: Could a collapse like that happen again?

    It's been 10 years since the collapse of Indymac Bank, CNBC's Jane Wells goes on a look back in this special report outside the former Pasadena headquarters.

  • WILMINGTON, Del.— A Delaware judge on Wednesday approved a revised plan for the sale of the Weinstein Co., the studio forced into bankruptcy by the sexual misconduct scandal that brought down Hollywood mogul Harvey Weinstein. The revised plan calls for Dallas- based private equity firm Lantern Capital to pay $289 million for the Weinstein Co.' s assets, down from...

  • SAN JUAN, Puerto Rico— The CEO of Puerto Rico's bankrupt power company resigned on Wednesday just months after he was chosen to oversee its privatization as the U.S. territory struggles to restore electricity to the last of those who remain in the dark nearly 10 months after Hurricane Maria. The resignation of Walter Higgins adds to challenges for a company that...

  • Nationwide store closings began in March and June 29 was the final day Toy R Us stores were open in the U.S.

  • OSLO, July 2- Offshore drilling rig contractor Seadrill said on Monday it had successfully completed its reorganization, emerging from a U.S. To reduce its debts, the company pushed forward maturities of $5.7 billion bank loans, equitised about $2.4 billion in unsecured bonds and $1 billion in obligations for newly built rigs. It also raised more than $1 billion...

  • SAN FRANCISCO, June 29- As Toys "R" Us Inc stores across the United States marked their final day in business on Friday, the bankrupt toy retailer posted a farewell message to customers on its website next to an image of its iconic Geoffrey the Giraffe mascot thanking them and urging them to "Play on!" More than 700 Toys "R" Us stores are shuttering in the United States.

  • Customers pass an advertisement for a 'Closing Down' sale at a Toys 'R' Us Inc. retail store.

    Toys R Us announced it was shutting down its U.S. operations earlier this year, after being sunk by debt and complacency. 

  • An empty parking lot outside a Toys R Us store.

    Toys R Us is finally closing up shop at more than 800 stores across the United States on Friday. After years of financial struggles due to competition from e-commerce sites and retail rivals, Toys R Us filed for bankruptcy protection in late 2017. 

  • NEW YORK, June 29- Gadget and gift chain Brookstone is exploring restructuring options including a potential U.S. bankruptcy as sales at its shops fall amid a wider downturn at brick-and-mortar retailers across America, people familiar with the matter said on Friday. The chain, which has roughly 100 stores in malls and about 20 in U.S. airports, has tapped law firm...

  • NEW YORK, June 29- Gadget and gift chain Brookstone is exploring restructuring options including a potential U.S. bankruptcy as sales at its shops fall amid a wider downturn at brick-and-mortar retailers across America, people familiar with the matter said on Friday. The chain, which has roughly 100 stores in malls and about 20 in U.S. airports, has tapped law firm...

  • Slash performs in concert with Slash and the Conspirators at the American Airlines Center on August 22, 2014 in Dallas, Texas.

    As Gibson Brands targets an exit from Chapter 11 bankruptcy protection later this year, the iconic guitar maker plans a return to traditional guitars.

  • June 27- As Gibson Brands Inc targets an exit from Chapter 11 bankruptcy later this year, the iconic guitar maker plans a return to traditional guitars after an ill-fated attempt at computerizing them and possibly a foray into ukuleles, CEO Henry Juszkiewicz told Reuters on Wednesday. Nashville- based Gibson, the maker of guitars played by the likes of B.B. King...

  • June 27- As Gibson Brands Inc targets an exit from Chapter 11 bankruptcy later this year, the iconic guitar maker plans a return to traditional guitars after an ill-fated attempt at computerizing them and possibly a foray into ukuleles, CEO Henry Juszkiewicz told Reuters on Wednesday. Nashville- based Gibson, the maker of guitars played by the likes of B.B. King...

  • *Westinghouse resumes talks with India on six-reactor deal. PARIS, June 27- U.S. nuclear firm Westinghouse expects to emerge from bankruptcy with sufficient equity in coming weeks and is targeting Saudi Arabia and India for new reactor sales, its CEO said. Westinghouse CEO Jose Gutierrez said the Brookfield deal would close as soon as it had been approved by U.S....

  • The company hopes to capitalize on Toys R Us' demise, which left a void in the toy industry.