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Category Archives: Debt
University of Phoenix Cancels $141 Million in Debt for ‘Deceptive’ Ads
The for-profit school, University of Phoenix, agreed to a $191 million settlement after it lured students by advertising employer partnerships that did not exist, the Federal Trade Commission said. The school’s deceptions affected students who enrolled between October 2012 and … Continue reading
Express is closing 31 stores. Is your location on the list of closures?
The stores are closing as part of the fashion retailer’s “fleet rationalization,” after an abysmal holiday season. Express officials announced 100 closures overall. 31 Stores have closed since this blog post, and another 35 stores will close by the end … Continue reading
Former NFL Players Fraud Scheme Picked Off
The Justice Department charged 10 former NFL players with defrauding a health-care program for retired players of nearly $4 million. Among them a group the Justice Department filed charges against are Robert McCune, John Eubanks, Tamarick Vanover, Ceandris Brown, James … Continue reading
Hospital Files for Bankruptcy
Americore Health and its four affiliated hospitals in Pennsylvania, Tennessee, Missouri and Arkansas filed for Chapter 11 protection, Becker’s Hospital Review reported. The three of the hospitals listed in the bankruptcy petition are: Ellwood Medical Center in Ellwood City, Alexius … Continue reading
Houlihan’s Restaurant Chain Files for Bankruptcy
The private-equity backed operator of the Houlihan’s Restaurant + Bar chain has filed for bankruptcy protection with a deal in-hand to sell the casual dining chain to fellow restaurant operator Landry’s Inc. for $40 million and assumption of some liabilities, … Continue reading
WeWork’s Loss Balloons to $1.25 Billon
Office-space startup WeWork lost $1.25 billion in the third quarter of 2019, as expenses far outpaced revenue growth, draining the company’s cash ahead of a bailout by SoftBank Group Corp. last month, the Wall Street Journal reported. We Co., as … Continue reading
Colleges Can Be Forced to Return Tuition When Parents Go Bankrupt
Colleges can be forced to return tuition payments made for students whose parents can’t cover their own debts, according to a federal appeals court ruling that opens up higher education institutions to more litigation in bankruptcy courts, WSJ Pro Bankruptcy … Continue reading
Victoria’s Secret Lays Off Employees at Headquarters
Victoria’s Secret is laying off about 15 percent of the brand’s employees at its Columbus, Ohio, headquarters as the lingerie store struggles to reshape its image and the chief executive of its parent company remains under scrutiny for his ties … Continue reading
Luxury Grocer Dean & DeLuca Closes Manhattan Store
Dean & DeLuca, the gourmet grocer, has shut its flagship location in Manhattan, Bloomberg News reported. According to a notice posted on the door, which said the store will reopen soon, the SoHo closing may be only temporary. The chain … Continue reading