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Bankruptcy News

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.

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.

Boris Becker claims diplomatic immunity in bankcruptcy case

London - Three-time Wimbledon champion Boris Becker is claiming diplomatic immunity from ongoing bankruptcy proceedings in the UK on the basis that he is an ambassador for the Central African Republic, British media reported Friday.

Retailers filing for bankruptcies at staggering rates

Retail bankruptcies and defaults hit a peak last year, soaring past records set during the recession, and things could get even worse this year, according to the credit-ratings agency S&P Global Ratings.

Winn-Dixie owner Bi-Lo preparing for bankruptcy next month

Jacksonville - Supermarket company Bi-Lo LLC, which owns the Winn-Dixie chain, is planning to close at least 200 stores in a potential bankruptcy, two people familiar with the matter said on Friday, with the filing to come as soon as next month.

Bankrupt Takata faces angry shareholders

Toukyo - Takata executives faced angry investors Tuesday after the company at the centre of the world's biggest auto safety recall filed for bankruptcy and said it was being bought by a US company.

Japan's airbag giant Takata files for bankruptcy

Toukyo - Japan's crisis-hit car parts maker Takata filed for bankruptcy protection Monday and said its chief executive would quit after a deadly airbag crisis that triggered the auto industry's biggest ever safety recall.

Sears Canada files for creditor protection

Montr - Sears Canada filed for court protection from creditors Thursday as the onetime retail giant seeks to adapt to a changed landscape and tougher online competition.

Georgia Power has a new deal with Plant Vogtle contractors

Atlanta - Georgia Power reached an agreement with Toshiba that will pay Georgia Power $3.68 billion beginning in October 2017 through January 2021, clearing a path for the troubled Plant Vogtle expansion held up by Westinghouse taking bankruptcy in March.

Possible Westinghouse bankruptcy may be security risk for U.S.

Pittsburgh - U.S. nuclear developer Westinghouse Electric Company announced on Tuesday it would be seeking bankruptcy protection from creditors, as it continues to struggle to limit losses that have thrown parent company, Toshiba into crisis mode.

South Korea withdraws support for Hanjin shipping line

South Korea has withdrawn its support for shipping giant Hanjin, signaling it sees no future for the ailing company. With bankruptcy the only option left, 45 loaded container ships have been left stranded at sea.

Hulk Hogan verdict forces Gawker founder Denton into bankruptcy

New York - Gawker founder Nick Denton declared bankruptcy on Monday after a federal judge allowed collection efforts to begin on $140 million in damages the news website was found liable for in a lawsuit filed by professional wrestler Hulk Hogan.

Aeropostale files for bankruptcy protection, closes Canada stores

New York - After three consecutive years of losses, teen clothing retailer Aeropostale Inc. filed for Chapter 11 bankruptcy on Wednesday and pledged to reorganize.
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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
ARRIVAL: New Jersey Gov. Chris Christie (left) greets U.S. President Barack Obama and FEMA Administr...
ARRIVAL: New Jersey Gov. Chris Christie (left) greets U.S. President Barack Obama and FEMA Administrator Craig Fugate on the tarmac at Atlantic City International Airport after the two federal officials arrived to tour storm damage from Hurrican Sandy in 2012.
White House photo by Chuck Kennedy
Winn-Dixie Corporate Offices  5050 Edgewood Ct.  Jacksonville  Duval County  Florida.
Winn-Dixie Corporate Offices, 5050 Edgewood Ct., Jacksonville, Duval County, Florida.
Michael Rivera
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.
Untitled
PG&E
A Linens & Things going out of business
A Linens & Things going out of business
Flickr user Stephen Yeargin
Charlotte Russe store front in August 2012.
Charlotte Russe store front in August 2012.
Cr.sf.olm
Untitled
Solyndra Corporation
Sign of the times - Foreclosure
Sign of the times - Foreclosure
respres
Borders bookstore.  Rogers  Ark.  Feb. 20  2011
Borders bookstore. Rogers, Ark. Feb. 20, 2011
OFFICIAL: European Commission President Jean-Claude Juncker attends a European People s Party conven...
OFFICIAL: European Commission President Jean-Claude Juncker attends a European People's Party convention in Vilnius, Lithuania, in 2013.
European People's Party
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
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
Hostess Twinkees
Hostess Twinkees
Larry D. Moore
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
Around 85 Hanjin cargo ships are stranded outside ports in 26 countries.
Around 85 Hanjin cargo ships are stranded outside ports in 26 countries.
Bernard Fuchs
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
FOREVER 21 clothing shop  Capitol Centre  Jardine s Crescent  Causeway Bay  Hong Kong
FOREVER 21 clothing shop, Capitol Centre, Jardine's Crescent, Causeway Bay, Hong Kong
Natalitiameom (CC BY-SA 3.0)
Charlotte Russe store front in August 2012.
Charlotte Russe store front in August 2012.
Cr.sf.olm

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