Immigrants, Accidents and Lawsuit Loans: Does NY Need New Rules? It took eight months after construction worker Javier Bances Carranza injured himself in a fall for his lawyer to try to make him feel supported, but it was too late. When the lawyer learned Carranza intended to switch his negligence lawsuit against his employer to …
Retailer Forever 21 files for bankruptcy for second time in 6 years Read More »
Nearly double the number of companies entered bankruptcy in March than in February, the largest number in a single month since July, according to S&P Global Market Intelligence. A total of 61 companies entered bankruptcy last month, and while the pace of filings has slowed year-over-year, that number hearkens back to the dog days of summer …
Corporate Bankruptcies Hit Precipitous High in March Read More »
More than three dozen retailers, including the nation’s oldest department store chain, filed for bankruptcy this year, marking an 11-year high. Pre-pandemic, several of these retailers were already teetering on the brink of survival. But the Covid health crisis pummeled the industry. Lockdown orders put in place in March to slow the spread of the virus turned …
Purdue Pharma, which helped revolutionize the prescription painkiller business with its drug OxyContin, is proposing a $10 billion plan to emerge from bankruptcy that calls for it to be transformed into a different kind of company funneling profits into the fight against the nation’s intractable opioid crisis. Those efforts would include a significant boost – …
Purdue Pharma proposes $10 billion plan to come out of bankruptcy Read More »
What precipitated this announcement? New York Attorney General Letitia James sued the NRA in 2020 over alleged financial irregularities, such as improperly making millions of dollars in payments to benefit longtime leader Wayne LaPierre and other executives. Among the lawsuit’s allegations is a claim that the NRA tried to disguise trips to the Bahamas and other forms of lavish …
The NRA declares bankruptcy: 5 questions answered Read More »
From iconic department stores to entertainment giants, the coronavirus has seemingly spared no one in its devastation of the U.S. economy. Falling consumer demand, reduced entertainment spending, and stay-at-home orders mandating certain businesses stay closed continue to take their toll on a retail industry that has been struggling for the past several years as consumers pivot to …
One year into pandemic, Main Street bankruptcies continue Read More »
A newly closed Mattress Firm store in Oceanside is among 99 locations in the retailer’s second round of closures as part of its bankruptcy protection filing. The 4,000-square-foot store, which was once a Sleepy’s — the Hicksville-based mattress retail chain was acquired for $780 million by Mattress Firm two years ago — was located on …
Mattress Firm store in Oceanside has closed amid bankruptcy filing Read More »
A Tennessee coal mining company that filed for bankruptcy this week is the second coal company to go bankrupt during Donald Trump’s pro-coal presidency. It’s also the fifth U.S. coal industry bankruptcy in the last three years as competitors in the energy market continue to drive coal into the dust pile. Mission Coal, an operator …
Mission Coal files for bankruptcy—5th coal company in 3 years Read More »
The nation’s leading wedding retailer is flirting with the possibility of bankruptcy protection, which often involves some store closures, after skipping a key debt payment. David’s Bridal, whose tight grip on the wedding business has loosened in recent years amid digital competition and declining marriage rates, failed to make a key loan payment Monday. That …
David’s Bridal flirts with possible bankruptcy after skipping debt payment Read More »
New York (CNN Business)Sears, the once-dominant retail chain that changed how Americans shopped and lived, has filed for bankruptcy. The 132-year-old company has been struggling for several years and is drowning in debt. The final straw was a $134 million debt payment due Monday that it could not afford. Sears Holdings (SHLD), the parent company …
Sears, the store that changed America, declares bankruptcy Read More »
