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Bankruptcy News

Operator of Vancouver's Trump Tower files for bankruptcy

The company that operates the Trump International Hotel in Vancouver, British Columbia, said on Friday it has filed for bankruptcy, blaming the coronavirus pandemic for lost revenue and financial hardship.

Briggs & Stratton files for Chapter 11 Bankruptcy protection

Another icon of post-war American suburbia went bust as Briggs & Stratton Corp. declared bankruptcy, felled by weak sales, too much debt and a final push over the edge from the coronavirus pandemic.

As fracking firms fail, well sites will become climate disasters

Oil and gas companies are hurtling toward bankruptcy, raising fears that wells will be left leaking planet-warming pollutants, with cleanup costs left to taxpayers.

Wirecard collapse an 'unparallelled scandal'

Berlin - The dramatic collapse of payments provider Wirecard is an "unparallelled scandal", Germany's finance minister said Thursday, after the group filed for insolvency as it admitted that 1.9 billion euros missing from its accounts likely did not exist.

Millions of U.S. jobs are not coming back as country reopens

Markets cheered on June 5, when new data showed a surprising decline in unemployment in the United States. And this was welcome news for a country tired of being on lockdown due to the COVID-19 crisis. But don't expect all jobs to come back.

Necco Wafers making a 'sweet comeback' after a two-year absence

How sweet is this news? Necco Wafers, a beloved American candy with roots dating back to 1847 is making a triumphant comeback after a two-year absence,

Shares in Latin America's biggest airline drop 35% after bankruptcy filing

Santiago - Shares in Latin America's largest airline plunged 35 percent on the Santiago stock exchange on Tuesday after LATAM filed for bankruptcy in the US.

Virus-hit Hertz declares bankruptcy in US and Canada

Washington - Global car rental company Hertz became the latest economic casualty of the coronavirus pandemic Friday, filing for bankruptcy in the US and Canada after more than a century in business.

J.Crew files for bankruptcy after economic hit from COVID-19

J.Crew Group, which operates the J.Crew and Madewell brands, has become the first national US retailer to file for bankruptcy protection since the coronavirus pandemic forced a wave of store closures.

UK airline Flybe dealt final blow by coronavirus

London - British regional airline Flybe crashed into bankruptcy Thursday after the deadly coronavirus proved to be the final nail in its coffin.

UK airline Flybe collapses as virus hits flights worldwide

London - One of Britain's biggest airlines, Flybe, collapsed Thursday with all its flights grounded, the company said, as the coronavirus epidemic takes a heavy toll on airlines around the world.

Canada's marijuana companies may be facing bleak year

Ontario - Some of Canada's biggest cannabis producers are facing proposed class-action lawsuits in the United States, while two other cannabis companies had to seek creditor protection last month. What's going on?

Powerful Russia tycoon quizzed by Spain's top criminal court

Madrid - One of Russia's most powerful tycoons, Mikhail Fridman, appeared in Spain's top criminal court for questioning on Monday over allegations he artificially depressed the value of a Spanish takeover target.

Forever 21 officially files for Chapter 11 bankruptcy

Forever 21, a one-time destination for shoppers that fell victim of its own rapid expansion and changing consumer tastes, filed for Chapter 11 bankruptcy protection Sunday.

Strike cripples Lebanese TV station close to PM: employee

Beirut - A Lebanese TV station affiliated with Prime Minister Saad al-Hariri has stopped airing new programmes, with an employee at the channel saying Thursday a strike over unpaid wages was responsible.

Kentucky coal producer with 2,800 workers files for bankruptcy

Blackhawk Mining, LLC., a coal company with 2,800 employees in Kentucky and West Virginia, plans to file for Chapter 11 bankruptcy later this week, according to documents released by the company.

Major coal company files for bankruptcy - over 1,000 jobs at risk

A major U.S. coal company filed for bankruptcy Monday, putting more than 1,000 jobs across three states at risk, making this the second coal producer to file for bankruptcy in the past two weeks.

Scandal-ridden Brazil giant Odebrecht seeks bankruptcy protection

S - Scandal-ridden Brazil construction giant Odebrecht, which has admitted to spending nearly $800 million to bribe officials across Latin America to win contracts, filed for bankruptcy protection Monday, judicial sources said.

Scandal-ridden Brazil giant Odebrecht seeks bankruptcy protection

S - Scandal-ridden Brazil construction giant Odebrecht, which has admitted to spending nearly $800 million to bribe officials across Latin America to win contracts, filed for bankruptcy protection Monday, judicial sources said.

U.S. firearms distributor files bankruptcy as gun sales fall

Chapin - United Sporting Companies, a large firearms distributor whose roots date to the Great Depression, filed for bankruptcy protection on Monday and said it plans to liquidate, hurt by falling sales due to a number of issues.

PG&E will file for bankruptcy protection at end of January

California’s largest power company intends to file for bankruptcy as it faces tens of billions of dollars in potential liability following massive wildfires that devastated parts of the state over the last two years.

Building boom turning to bust as Turkey's economy slows

Mudurnu - Deep in a provincial region of northwestern Turkey, it looks like a mirage -- hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.

Sears prepares to liquidate as ESL bid fails to impress bankers

Tens of thousands of jobs are at risk after Sears Chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, according to people with knowledge of the matter.

California's largest utility considering filing for bankruptcy

PG&E shares fell 20 percent in after-hours trading Friday after it was reported the utility had been considering bankruptcy or selling off its natural gas division in a plan to cover liability costs and avoid bankruptcy.

Without financing, path to liquidation begins at 4 pm for Sears

Sears is nearing a crucial deadline that could determine whether it survives. The company set Friday at 4 p.m. as the deadline for potential buyers to bid for Sears' assets. Without financing, Sears and KMart are on the path to liquidation.

Historic UK music retailer HMV collapses due to digital surge

London - British music retailer HMV, which was launched by English composer Edward Elgar in 1921 and helped propel the Beatles to fame, collapsed into administration on Friday as consumers switch to digital streaming in droves.

Historic UK music retailer HMV collapses for second time

London - British music retailer HMV, which was launched by English composer Edward Elgar in 1921, has collapsed into administration after weak Christmas sales and amid a declining market for CDs and DVDs, its owner said on Friday.

Scandal-hit US archidiocese to file for bankruptcy

Los Angeles - The Archdiocese of Santa Fe, which is facing a litany of lawsuits in New Mexico over claims of sexual abuse committed by priests, has announced it will file for bankruptcy protection.

Drought across northern and central Europe worst in recent memory

Farmers across northern and central Europe are facing crop failure and bankruptcy as one of the most intense regional droughts in recent memory strengthens its grip.

Central Africa says Boris Becker's diplomatic passport is 'fake'

Bangui - The Central African Republic (CAR) said on Tuesday that a diplomatic passport that tennis star Boris Becker claims entitles him to immunity in bankruptcy proceedings in Britain "is a fake.
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The store front of Winn-Dixie Store #736 in Port Charlotte  Florida. This store is located in the Pr...
The store front of Winn-Dixie Store #736 in Port Charlotte, Florida. This store is located in the Promenades Mall on Tamiami Trail.
PCHS-NJROTC (CC BY-SA 4.0)
Charlotte Russe store front in August 2012.
Charlotte Russe store front in August 2012.
Cr.sf.olm
Winn-Dixie Corporate Offices  5050 Edgewood Ct.  Jacksonville  Duval County  Florida.
Winn-Dixie Corporate Offices, 5050 Edgewood Ct., Jacksonville, Duval County, Florida.
Michael Rivera
Charlotte Russe store front in August 2012.
Charlotte Russe store front in August 2012.
Cr.sf.olm
Philadelphia Energy Solutions  owner of two refineries  has filed for Chapter 11 bankruptcy.
Philadelphia Energy Solutions, owner of two refineries, has filed for Chapter 11 bankruptcy.
PES
Casey Anthony leaves the federal courthouse in Tampa  with a U.S. Marshal after a bankruptcy hearing...
Casey Anthony leaves the federal courthouse in Tampa, with a U.S. Marshal after a bankruptcy hearing Monday, March 4, 2013.
Twitter via AP
Borders bookstore.  Rogers  Ark.  Feb. 20  2011
Borders bookstore. Rogers, Ark. Feb. 20, 2011
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Billie Grace Ward
A Radio Shack store is seen at the West Valley Mall in Tracy  Calif.  60 miles east of San Francisco...
A Radio Shack store is seen at the West Valley Mall in Tracy, Calif., 60 miles east of San Francisco.
Davidcaballero864/Wikimedia Commons
Hanjin shipping containers awaiting pickup.
Hanjin shipping containers awaiting pickup.
Daryl Mitchell
The expansion of the Vogtle Power Plant in Georgia is already four years behind schedule.
The expansion of the Vogtle Power Plant in Georgia is already four years behind schedule.
Westinghouse Electric Co.
Hanjin container shipping company filed for bankruptcy protection  stranding ships  sailors and merc...
Hanjin container shipping company filed for bankruptcy protection, stranding ships, sailors and merchandise at sea in 2016.
Ingrid Taytar
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Wall Street Journal
A Ruby Tuesday location near the University of Virginia campus in Charlottesville  Virginia.  This l...
A Ruby Tuesday location near the University of Virginia campus in Charlottesville, Virginia. This location closed on September 29, 2016.
Billy Hathorn (CC BY-SA 3.0)
J. C. Penney in Aventura Mall in Aventura  Florida in February 2006.
J. C. Penney in Aventura Mall in Aventura, Florida in February 2006.
Aranda56 (CC BY-SA 3.0)
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PG&E
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Raysonho @ Open Grid Scheduler / Grid Engine (CC0 1.0)
American gasoline engine company  Briggs & Stratton files for bankruptcy protection.
American gasoline engine company, Briggs & Stratton files for bankruptcy protection.
Briggs & Stratton
Hostess Twinkees
Hostess Twinkees
Larry D. Moore
Sign of the times - Foreclosure
Sign of the times - Foreclosure
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