Bankruptcy News


Guitar company Gibson reportedly facing bankruptcy

Added February 19, 2018

CNBC reports that CEO Henry Juszkiewicz is deciding whether to exchange the companys debt, look to try and pay it off using his equity or try to declare the company bankrupt.


WinnDixie and Tops Owners Could Prepare for Bankruptcy

Added February 19, 2018

According to Bloomberg, both companies are poised to file bankruptcy in the coming weeks.


Bi-Lo preparing for bankruptcy

Added February 19, 2018

According to Supermarket News, BiLo LLC, a subsidiary of Southeastern Grocers, which has 705 grocery stores in seven southeastern states is reportedly preparing to file bankruptcy as early as next month.


Remingtons Bankruptcy May Be the Tip of the Iceberg

Added February 19, 2018

Bloomberg reports that Republican control in Washington has helped slow purchases by gun enthusiasts who once feared tighter restrictions under Democrats.


Business A West Virginia newspaper is in bankruptcy. The powerful coal industry celebrates

Added February 19, 2018

According to the Washington Post, one day after the Charleston Gazette Mail declared bankruptcy, coal industry attorney Robert McLusky made light of the newspapers plight.


NASCAR Cup team BK Racing files for bankruptcy ahead of Daytona 500

Added February 19, 2018

Autosport reports that the chartered team completed the full Cup season in 2017 but had a rotating door of seven drivers across the season.


Judge approves Takata bankruptcy plan

Added February 19, 2018

ABC News reports that following a hearing Friday, the judge said there was substantial and sufficient support from creditors to merit plan approval.


Remington bankruptcy plan is new wound for America's Oldest Gunmaker

Added February 19, 2018

USA Today reports that Remington has reached a financing deal that would allow it to continue operating as it files for Chapter 11 bankruptcy protection.


Fieldwood Energy files for bankruptcy, makes $700M acquisition on same day

Added February 19, 2018

According to the Chron, debt strapped Fieldwood Energy is filing for Ch. 11 bankruptcy protection the same day it said it would acquire Noble Energy's Gulf of Mexico assets in a roughly $700 million deal.


Detroit facing challenges one year after bankruptcy

Added February 19, 2018

According to Detroit News, the city of Detroits balance sheet shows the city making some financial progress.


Gun maker Remington files for bankruptcy

Added February 12, 2018

NBC News reports that popular gun maker, Remington, has filed for Chapter 11 bankruptcy protection.


Takata, injured drivers reach deal to end U.S. bankruptcy

Added February 12, 2018

According to Reuters, Takata Corps U.S. unit reached a settlement with its creditors, lawyers for those injured by its deadly air bags and automakers that smoothes the way to end its Chapter 11 bankruptcy and sell its viable operations.


Post-bankruptcy California city tests universal income for residents

Added February 12, 2018

Fox News reports that the City of Stockton, California s testing a new welfare plan to give families a universal basic income of $500 every month.


Sad Day: EXCO Resources Files for Chapter 11 Bankruptcy

Added February 12, 2018

According to media reports, oil and natural gas exploration company EXCO Resources has filed Chapter 11 bankruptcy.


Patriot National Files for Chapter 11 Bankruptcy Protection

Added February 12, 2018

Insurance Journal reports that Patriot National, Inc., an insurance technology and outsourcing firm, has officially filed for chapter 11 bankruptcy protection and reorganization.


AdChoices The maker of the Turing Phone files for bankruptcy and suspends manufacturing

Added February 12, 2018

According to Tech Crunch, a local publication recently broke the news that the company had declared bankruptcy.


Charleston Gazette Mail to File for Bankruptcy

Added February 12, 2018

According to the Intelligencer, the Gazette-Mail newspaper plans to file for bankruptcy.


iHeartMedia misses bond payment, places 30 day deadline on possible bankruptcy

Added February 12, 2018

My San Antonio reports that the company recently failed to make a $106 million bond payment.


Oklahoma City-based Ascent Resources Marcellus files for bankruptcy protection

Added February 12, 2018

According to News Oklahoma, Ascent Resources Marcellus Holdings LLC and its subsidiaries recently filed for bankruptcy protection to reorganize.


Paper products manufacturer Cenveo files for Chapter 11 bankruptcy

Added February 12, 2018

Digital Commerce 360 reports that Cenveo Inc. pointed to a world shifting from paper-based to digital products as a chief contributor to its declining sales and resulting Chapter 11 bankruptcy filing.


Bon Ton Stores Seeks Chapter 11 Bankruptcy Protection

Added February 5, 2018

The Wall Street Journal reports that Bon Ton is the largest retailer to file for bankruptcy in the U.S. this year.


Rand Logistics Files for Chapter 11 Bankruptcy Protection

Added February 5, 2018

According to the Wall Street Journal, Lightship Capital is slated to take over this Great Lakes bulk shipping company.


Puerto Rico Moves to Privatize Bankrupt Power Authority

Added February 5, 2018

Puerto Rico Gov. Ricardo Rosselló is reported to be putting the islands power utility up for sale, as reported by WSJ.com.


Low income, senior housing companies file for bankruptcy

Added February 5, 2018

According to the Bangor Daily News, three companies that own about 600 units of low income and senior housing throughout Maine filed for bankruptcy late last year.


iHeartMedia misses bond payment, places 30day deadline on possible bankruptcy

Added February 5, 2018

According to San Antonio Express News, the failed to make a $106 million bond payment, giving itself 30 days to work out an agreement with investors to restructure its debt or face bankruptcy.


Patriot National Files for Chapter 11 Bankruptcy Protection

Added February 5, 2018

Insurance Journal reports that the insurance technology and outsourcing firm, has officially filed for chapter 11 bankruptcy.


Walter Investments emergence from bankruptcy is delayed

Added February 5, 2018

National Mortgage News reports that the company pushed back the date it would emerge from bankruptcy.


Dry the Starting Tear for PESs Bankruptcy

Added February 5, 2018

Philadelphia Energy Solutions impending bankruptcy is due to its own antiquated technology, higher crude costs, poor investments and mismanagement, as reported by WSJ.com.


Envelope maker, comic book printer Cenveo files for bankruptcy

Added February 5, 2018

Reuters reports that the company is struggling under $1 billion of debt and an industry transformed by the internet.


Company behind Turing Phone has filed for bankruptcy

Added February 5, 2018

Notebook Check reports that Turing Robotics Industries has filed for bankruptcy in Finland. The company was supposed to start the production of Turing Phones in a factory formerly used by Nokia but wasnt successful in doing so.


Refinery Blues: As Philadelphia Energy Solutions files for bankruptcy, unions eye uncertain future

Added January 29, 2018

According to the Daily Times Business, Philly energy Solutions files for bankruptcy; Delco union members fret over their future.


Top 4 Reasons Sears Could File Chapter 11 Bankruptcy in 2018

Added January 29, 2018

The Street provides a special report on why the end could be near for Sears, an iconic American brand.


Attleboros Highland Country Club files for bankruptcy

Added January 29, 2018

The Sun Chronicle reports that the Highland Country Club, the 117-year-old golf course in the center of the city, has filed for bankruptcy.


Necessity or nonsense? Should Trios bankruptcy prevent the release of public records?

Added January 29, 2018

According to the Tri City Herald, Trios Health in Kennewick has stopped fulfilling public records requests while it works through Chapter 9 bankruptcy.


Did Federal Regulations Put A Philadelphia Refinery Into Bankruptcy?

Added January 29, 2018

Forbes reports that the relevance of the Philadelphia Energy Solutions bankruptcy lies in the ethanol mandate policy that began during the Bush administration.


Zoots files bankruptcy; customers cant retrieve clothes

Added January 29, 2018

The Milford Daily News reports that the dry cleaning chain Zoots Dry Cleaning in Framingham filed bankruptcy last week.


Egypts parliament passes bankruptcy law to spur investment

Added January 29, 2018

Reuters reports that the new bankruptcy law is part of an economic reform drive aimed at encouraging investment and it seeks to simplify post bankruptcy procedures.


Quaker Steak & Lube files for bankruptcy

Added January 29, 2018

Nations Restaurant News reports that the restaurant chain has a $25 million deal to be sold to TravelCenters of America.


Stamp Farms owner, 2 others indicted in bankruptcy fraud scheme

Added January 29, 2018

MLive reports that the owner of Stamp Farms in southwestern Michigan has been charged with bank fraud and other crimes relating to his 2012 bankruptcy.


Critics say Texas based nursing home operator using bankruptcy to hide from dozens of lawsuits

Added January 29, 2018

McKnights Long Term Care News reports that Preferred Care of Plano filed for bankruptcy, claiming in court that more than 160 lawsuits led to its financial demise.


Creditors of Carsons parent BonTon said to propose bankruptcy within weeks

Added January 21, 2018

According to the Chicago Tribune, senior creditors of BonTon Stores are pushing the troubled retailer to file for bankruptcy.


Eclipse Berry Farms files for bankruptcy

Added January 21, 2018

The Packer reports that Eclipse will continue to operate but gave no timeline on the companys future plans.


BonTon Stores shares drop as bankruptcy speculation rises

Added January 21, 2018

The Journal Sentinel reports that shares of BonTon closed at 23 cents after dropping as low as 17 cents, in light of the companys bankruptcy rumors.


Bill Aims to Make Bankrupt Companies File for Protection Closer to Home

Added January 21, 2018

According to the Wall Street Journal, a proposed change would shift bankruptcy filings away from New York and Delaware.


Bankruptcy Judge Rules Against Settlement Triggering GM Payout

Added January 21, 2018

WSJ.com reports that the auto maker avoids potential $1 billion stock payout.


SEC Joins Call for Bankruptcy Trustee to Run Woodbridge

Added January 21, 2018

Regulators say the real estate development business was a Ponzi scheme, as reported by WSJ.com.


U.S. Arm of Cosmetics Retailer KIKO Files for Bankruptcy

Added January 21, 2018

Womens Wear Daily reports that facing bankruptcy, the beauty brand is struggling stateside, but sales are booming elsewhere.


Potential Weinstein Co. Sale Structure Stokes Concerns of Accuser Advocates

Added January 21, 2018

According to the Wall Street Journal, lawyers and advocates for Harvey Weinstein victims argue for deals in and out of bankruptcy.


Goldman Sachs to Invest in Bankrupt Real Industry Inc.

Added January 21, 2018

Investment banks offer to spend about $10 million would protect more than $900 million in potential tax breaks, reports WSJ.com.


Philadelphia Energy Solutions to file for bankruptcy

Added January 21, 2018

According to Reuters, the bankruptcy would come six years after Carlyle Group LP (CG.O) and Energy Transfer Partners LPs Sunoco Inc rescued the company from financial distress.


Walter Investment Management Bankruptcy Plan Filed

Added January 15, 2018

According to Bankrupt Company News, Walter Investment Management filed with the U.S. Bankruptcy Court an Amended Prepackaged Chapter 11 Plan of Reorganization.


Game Over Hobbico Bankrupt

Added January 15, 2018

Hobbico recently filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, according to Bankrupt Company News.


BonTon in Talks With Debt Holders Ahead of Likely Bankruptcy Filing

Added January 15, 2018

According to the Wall Street Journal, the retailer is working on signing forbearance agreement with bondholders through end of January.


Penthouse magazine parent files for bankruptcy protection

Added January 15, 2018

The LA Times reports that Penthouse Global Media, which recently filed Chapter 11 bankruptcy, has been struggling financially for years as the print advertising market has declined.


Teslas Coming Bankruptcy

Added January 15, 2018

According to Seeking Alpha, Teslas debt is becoming unmanageable, due to worsening cash flow and less favorable terms.


Seadrill: Important News On Its Bankruptcy

Added January 15, 2018

Seeking Alpha reports that the U.S. Trustee objects to the companys disclosure statement.


FirstEnergy: Bankruptcy Fears Fester

Added January 15, 2018

FirstEnergy Solutions (aka FES) announced its plans to separate from FirstEnergy (NYSE:FE) and warned of possible bankruptcy, reports Seeking Alpha.


Herald publisher was earning close to $1 million before bankruptcy

Added January 15, 2018

According to the Boston Globe, the publisher of the Boston Herald earned nearly $1 million in the 12 months leading up to the newspapers Dec. 8 bankruptcy filing.


US senators take aim at Delawares bankruptcy advantage

Added January 15, 2018

Delaware Online reports that US Sens Elizabeth Warren and John Cornyn introduced a bill on Monday that threatens to undercut Delawares status as one the nation's leading bankruptcy venues.


Retailer AGaci files for bankruptcy protection

Added January 15, 2018

Women's apparel retailer A'Gaci filed for bankruptcy protection, seeking to reorganize its $62 million in debt.


5 chains possibly headed for bankruptcy in 2018

Added January 8, 2018

Cushman & Wakefield predicts that another 12,000 retail locations may cease operations in 2018.


Wind turbine startup Sheer Wind files for bankruptcy

Added January 8, 2018

Bizjournals reports that the company filed for Chapter 7 bankruptcy and owes creditors about $3.7 million.


Judge Denies Twin Cities Archdiocese Bankruptcy Plans

Added January 8, 2018

US News reports that a ruling in the Archdiocese of St. Paul and Minneapolis bankruptcy case will quicken the process of getting payments to clergy sex abuse victims.


Radio Broadcaster Pacifica Teeters on Edge of Bankruptcy

Added January 8, 2018

According to the Wall Street Journal, the nonprofit foundations board hopes to arrange a loan to avoid having to file for chapter 11 protection.


Current Newspapers Files for Bankruptcy

Added January 8, 2018

According to media reports, Current Newspapers, the publisher of five weekly community papers around Northwest DC, filed for Chapter 11 bankruptcy.The company owes more than $1.25 million to nearly three dozen creditors.


Why retailers are filing for bankruptcy when they aren't yet broke

Added January 8, 2018

USA Today reports that a multitude of retailers have filed for bankruptcy this year as the industry continues to struggle.


Another Retail Bankruptcy Wave Is on the Way, Credit Suisse Says

Added January 8, 2018

Bloomberg reports that bankruptcy filings and retail store closures may hurt rents and vacancy rates.


Cibola County Facing Prospect of Bankruptcy

Added January 8, 2018

According to US News, a New Mexico county is facing the prospect of bankruptcy in 60 days and the likelihood of having to move forward with layoffs and liquidate assets.


How Takata Bankruptcy Could Affect Compensation for Car Owners

Added January 8, 2018

Insurance Journal reports that the companys bankruptcy filing limits the legal rights of those injured by its deadly airbags.


Bankruptcy court settlement could bring relief to some ITT students

Added January 8, 2018

According to the Boston Globe, thousands of students nationwide who attended the now defunct ITT Technical Institute would have nearly $600 million in loans canceled under a proposed court settlement.


Property group Woodbridge files for bankruptcy amid SEC probe

Added December 31, 2017

According to Reuters, the company filed, citing costs of expansion, litigation and a government fraud investigation.


U.S. court removes creditor hurdle to a Westinghouse bankruptcy plan

Added December 31, 2017

Reuters reports that U.S. Bankruptcy Judge Michael Wiles dismissed claims by the official committee of unsecured creditors that Westinghouse was not making progress in restructuring its debt.


7 stars who bounced back from bankruptcy court

Added December 31, 2017

CNBC reports that each star managed to use their talents to overcome their financial woes.


Why Is Charming Charlie Filing For Bankruptcy Now?

Added December 31, 2017

Fashion accessories retailer Charming Charlie filed for bankruptcy while facing dwindling cash balances.


Theranos dodges bankruptcy after $100 million loan

Added December 31, 2017

CNBC reports that cash is dwindling at the once-soaring biotechnology startup.


Creditors seek bankruptcy for U.S. media entrepreneur Sillerman

Added December 31, 2017

According to Reuters, creditors are attempting to collect on a $7.36 million judgment against media entrepreneur Robert F.X. Sillerman.


Republic emerges from bankruptcy

Added December 31, 2017

The Indianapolis Business Journal reports that after entering bankruptcy, Republic Airways Holdings worked to trim its fleet size and flight schedule.


6 big name retailers who filed for bankruptcy in 2017

Added December 31, 2017

According to AJC.com, many big name retailers have struggled to keep up with the market.


New owners bring Essar project out of bankruptcy

Added December 31, 2017

The Star Tribune reports that a bankruptcy plan includes payment to contractors from stalled project.


Homebuyers rocked by builders bankruptcy filing

Added December 31, 2017

According to the Times Herald Record, J.C. Builders $2.3 million bankruptcy filing has left at least eight prospective homeowners with unfinished houses or unbuilt lots


China Central Bank Official Says Bankruptcy May Benefit the Country

Added December 26, 2017

According to Bloomberg, PBOCs Xu Zhong feels its necessary to rein in local government debt.


Videocon may be referred to bankruptcy court

Added December 26, 2017

According to the Economic Times, lenders are gearing up to refer Videocon Industries to the bankruptcy court as they are unsure of the company's proposed debt recast program.


China needs Detroit style bankruptcy as debt problems remain

Added December 26, 2017

A government official reports to Reuters that Central government control of the scale of local government bonds should be eliminated.


What to do if you get a gift card from a retailer that could go bankrupt

Added December 26, 2017

USA Today reports that the bigger issue is whether a gift card will become worthless if it involves a retailer that filed for bankruptcy protection.


Golfsmith Bankruptcy Settlement Sought

Added December 26, 2017

Bankrupt Company News reports that a joint motion for entry of an order establishing procedures for the allowance, settlement and payment of 503(b)(9) claims was recently filed.


Theranos avoids bankruptcy thanks to a last minute loan

Added December 26, 2017

Engadget reports that the blood testing firm has avoided bankruptcy by securing a $100 million loan from Fortress Investment Group.


Singapore Chipmaker Blames Buyout in Bid for Quick Bankruptcy

Added December 26, 2017

According to Bloomberg, Global A&T seeks approval to complete turnaround this week.


South Korean cryptocurrency exchange to file for bankruptcy after hacking

Added December 26, 2017

Reuters reports that it is shutting down and is filing for bankruptcy after it was hacked for the second time this year.


Toys R Us Sales Declined Ahead of September Bankruptcy Filing

Added December 26, 2017

According to Bloomberg, the toy retailer was forced to file bankruptcy after vendors cut shipments.


No Bankruptcy Aid For Marijuana Businesses, Justice Department Officials Say

Added December 26, 2017

According to Forbes, the U.S. Department of Justice is issuing another reminder that marijuana businesses dont have a right to bankruptcy proceedings.


After Failing At Franchising And Then Declaring Bankruptcy, Saxbys Is Competing With Starbucks

Added December 18, 2017

Forbes reports that the owner of Saxy's believes his 27 cafés will bring in 2017 revenue of $15 million.


Avaya emerges from Chapter 11 bankruptcy

Added December 18, 2017

Zdnet reports that the company has successfully completed its debt restructuring less than a year after filing under Chapter 11 bankruptcy protection.


Workers From Shuttered Maine Paper Mills: Bankruptcy Payouts A Total Ripoff

Added December 18, 2017

Maine Public reports that A 15-year-old bankruptcy case is finally paying out to workers of the Great Northern Paper Co.


Armstrong Energy Bankruptcy DS Filed

Added December 18, 2017

According to Bankrupt Company News, Armstrong Energy filed with the U.S. Bankruptcy Court a Disclosure Statement for the Companys First Amended Joint Chapter 11 Plan of Reorganization.


WestMountain Gold Bankruptcy Plan Amended

Added December 18, 2017

WestMountain Gold filed with the U.S. Bankruptcy Court a first amendment to its Plan of Reorganization, according to Bankrupt Company News.


Global A&T Electronics Prepackaged Bankruptcy Initiated

Added December 18, 2017

Global A&T Electronics (GATE) and 12 affiliated Debtors filed for Chapter 11 protection with the US Bankruptcy Court in the Southern District of New York.


DAVIDsTEA Evaluates Strategic Alternatives

Added December 18, 2017

Bankrupt Company News reports that the company will be evaluating strategic alternatives to enhance shareholder value.


US Dataworks Bankruptcy Plan Effective, Summarized

Added December 18, 2017

US Dataworks announced that its Combined Disclosure Statement and Plan of Liquidation is now effective.


Cotter Tower Files Chapter 11

Added December 18, 2017

Privately-held Cotter Tower filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Texas.


Sears is teetering on the edge of bankruptcy and Kmart could be its first casualty

Added December 18, 2017

According to Business Insider, Sears sales are down 45% since early 2013, its debt load has spiked to over $4 billion, and the company is losing well over $1 billion annually.