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Tag Archives: Debt
JCPenney To File for Bankruptcy
JCPenney is facing financial troubles amid the outbreak and the shutting down of their department stores. Sephora stated recently that they would not reopen their doors after the pandemic and that they would stop restocking in store products. Sephora’s products … Continue reading
City of Fairfield, Alabama Files for Bankruptcy
The small city of Fairfield, Alabama is set to file for Chapter 9 Bankruptcy, which is quite rare, especially for a municipality of merely 12,000 residents. Prior to the pandemic, Mayor Eddie J. Penny stated that the city had drained … Continue reading
Treasury Turns Small Business Loans into Grants
The Treasury Department rolled out a program for small business loans, however, there has recently been minor changes to the original program. The original guidelines for the small business loans required a rehiring of staff and any additional loan amount … Continue reading
Neiman Marcus Group Inc., Files for Bankruptcy
Neiman Marcus Group Inc., became America’s major extravagance retailers when they were granted access to Texas Oil 100 years ago. The popular retailer has stated they are now facing bankruptcy due to the coronavirus outbreak and the precautions they are … Continue reading
Gold’s Gym International Inc., to File Bankruptcy
Gold’s Gym International Inc., announced Monday they are filing for Chapter 11 bankruptcy. They were forced to close 30 corporate owned stores due to the outbreak of the coronavirus. While this was a difficult decision, the company’s plan to be debt free is set to be no later … Continue reading
Small Business Loan Accepters May Face Debt
Small business owners that are receiving Paycheck Protection Program assistance could soon experience some difficulties staying afloat. While the Treasury Department is managing the loan fund, the banks are having difficulties proving that the loans met the ever-changing government requirements. … Continue reading
Tuesday Morning Corp. Contemplates Bankruptcy
Upon closing 700 stores in 39 states due to the pandemic, Tuesday Morning Corp., a home goods store is up against potentially filing for bankruptcy. With no clear plan or final decision, the company is facing difficult decisions on what … Continue reading
US Airlines Receive Government Aid Paychecks
U.S. Airlines receive government aid paychecks as well as being assured they will remain employed until at least October. Airlines are hoping things return back to normal by then but with the 95% drop in travel, it seems to be … Continue reading
Hertz Global Holdings Inc. May Be Forced To File Bankruptcy
With sales dropping due to consumers avoiding travel at a time like this, Hertz Global Holdings Inc., a rental car company, is still required to make monthly payments under their operating lease. It has been reported that the company and … Continue reading
VIP Cinema Holdings Quality of Products leads to Bankruptcy
With movie theater attendance on the downhill, VIP Cinema Holdings – the largest reclining theater seat producer in the US – is set to file Chapter 11 bankruptcy. The decrease in movie sales has effected the lifetime of recliners, meaning … Continue reading