U.S. bankruptcy court approves sale of J.C. Penney
JC Penney Simon Property and Brookfield, and J.C. Penney’s main creditors will become its new owners as it emerges from bankruptcy by Thanksgiving. JC Penny filed for Chapter 11 in bankruptcy More...
The CEO who led the largest accounting fraud in history died – a month after his release
Bernard Ebbers, Chairman and CEO of WorldCom and member of the President’s National Security Telecommunications Advisory Committee (NSTAC) Bernard (Bernie) Ebbers, former chief executive of WorldCom, More...
Sears, The Retail Giant That Changed America, Declares Bankruptcy
Sears, the chain that changed the retail industry in America, has filed for Chapter 11 bankruptcy protection just after midnight early hours of Monday, ahead of the crucial holiday shopping season, The 132-year-old More...
Toys R Us to Close All US and UK Stores
Six months after filing for bankruptcy protection in September in the US and one month after doing the same in the UK, Toys R Us, the toy superstore chain, is shutting down all 900 stores across US and More...
Weinstein Company to file for bankruptcy
Weinstein company announced yesterday that it would file a bankruptcy suit after the collapse of negotiations for the sale its assets to a group of investors led by Maria Contras-Sweet, who was nominated More...
After Declaring Bankruptcy Toys ‘R’ Us Is Shuttering 180 U.S. Stores
Toys ‘R’ Us Inc. said on Tuesday it will close about 180 U.S. stores in the coming months, as part of a reorganization plan to emerge from one of the largest ever bankruptcies by a specialty More...
Russian Tycoon Sues Montenegro Over Aluminum Plant’s bankruptcy
Russian billionaire Oleg Deripaska‘s Central European Aluminium Company, CEAC, is suing Montenegro for “hundreds of millions of euros” over the failure of its plant in the capital Podgorica, More...
American Apparel Files For Bankruptcy — Again!
American Apparel, the clothing company founded by Dov Charney, is in bankruptcy for a second time in less than a year. The company filed for chapter 11 bankruptcy protection on Monday. The company More...
Dov Charney’s American Apparel Sinking Fast
American Apparel, the clothing company founded by Dov Charney, may be headed into bankruptcy — again. This just nine months after getting out of bankruptcy. Its stock is selling at all of $0.11 as More...
Urbancorp files for bankruptcy in Canada
Less than five months after raising NIS 180 million ($48 million) in Tel Aviv in a public bond offering, Canadian home builder company Urbancorp has announced restructuring proceedings, including More...