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Tag Archives: Bankruptcy
Iconic Restaurant Chain Friendly’s Files for Bankruptcy
Friendly’s Restaurants LLC, an iconic chain on the East Coast of the U.S. known for its sundaes, became the latest dining institution to go bankrupt amid the pandemic. The company filed for chapter 11 bankruptcy protection in Delaware. It listed … Continue reading
Pizza Hut Drivers Claim $320 Million Mileage Underpayment
Pizza Hut delivery drivers say that the bankrupt company’s largest franchisee shortchanged them on payments for using their own vehicles, adding to the list of cases from former employees. NPC International Inc. reimbursed the drivers for miles at such a … Continue reading
Co-Working Company Regus Puts More Locations into Bankruptcy
Co-working company Regus Corp., which provides furnished workspace on short-term deals, has placed more of its assets into chapter 11 bankruptcy as office markets deal with the effects of the coronavirus pandemic on the economy. Regus has put more than … Continue reading
YogaWorks Files for Chapter 11, Plans to Close All Studios
YogaWorks Inc. has filed for bankruptcy and plans to permanently close its dozens of studios across the U.S. but keep offering virtual classes. The California-based yoga studio chain is the latest fitness business to succumb to shutdowns and restrictions on … Continue reading
Restaurant Chain Ruby Tuesday Files for Chapter 11 in Delaware
Restaurant chain Ruby Tuesday Inc. filed Chapter 11 bankruptcy in Delaware as it seeks to stabilize its finances during the pandemic. The filing comes after the company reached an agreement with secured lenders to support a restructuring plan. Ruby Tuesday’s … Continue reading
Almost 1,600 Customers Say Wells Fargo Paused Their Mortgage Payments Without Their Consent
Nearly 1,600 Wells Fargo customers say the bank paused their mortgage payments without their consent according to communication that the bank sent to two U.S. senators in August and September. The letters also indicate that the bank didn’t know how … Continue reading
MGM Resorts to Lay Off 18,000 Furloughed U.S. Employees
Casino operator of MGM Resorts International informed its staff in August that is would lay off 18,000 furloughed employees in the U.S. as the coronavirus-induced travel reductions hurt its operations. MGM employed almost 52,000 fulltime and 18,000 part-time workers in … Continue reading
Wendy’s and Pizza Hut Raise Concerns Over NPC Bankruptcy Sale
Wendy’s Co. and Pizza Hut LLC are raising concerns over their largest franchisee’s efforts to sell its assets in bankruptcy court. NPC International operates 392 Wendy’s and 1,200 Pizza Huts across the country filed Chapter 11 bankruptcy on July 1, … Continue reading
Dave and Buster’s Warns of Bankruptcy
The prognosis for Dave and Buster’s Entertainment looks increasingly dire as the coronavirus economy takes a massive bite out of revenue and the company looks to layoff hundreds of workers. The company warned that it may need to file for … Continue reading
Judge Approves Plan to Sell Briggs & Stratton
Briggs & Stratton’s unsecured creditors will receive 7 to 10 cents on the dollar depending on when the company completes its bankruptcy court-approved sale to KPS Capital Partners. The final amount will depend on how quickly Briggs can complete its … Continue reading