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Tag Archives: Bankruptcy
Coca-Cola Cuts Thousands of Jobs as Coronavirus Hits Sales
Coca-Cola Co. joined a long list of big U.U. companies in laying off thousands of workers due to the coronavirus crisis. The company is offering voluntary deals across its businesses and promising to halve its number of operating units. They … Continue reading
Mortgage Delinquencies of 90 Days or More at 10 Year High
Serious mortgage delinquencies hit a 10 year high in July according to a report by financial data firm Black Knight. According to Black Knight, the number of homes with mortgages with delinquencies of 90 days or more but not in … Continue reading
California Pizza Kitchen Files for Bankruptcy
California Pizza Kitchen Inc. of Houston has filed for bankruptcy. The company operates more than 200 restaurants but has plans of restructuring. According to documents from the US Bankruptcy Court of Southern District of Texas, the restaurant was forced to … Continue reading
Lord and Taylor File for Bankruptcy
Joining the slew of unfortunate bankruptcy filings, US retailer, Lord and Taylor, has been named the next victim according to the US Bankruptcy Court for the Eastern District of Virginia. With assets and liabilities ranging from $100 million to $500 … Continue reading
Men’s Wearhouse Corporation Files for Bankruptcy
Tailored Brands Inc., the owner of Men’s Wearhouse and Jos. A. Bank, filed for bankruptcy in the US Bankruptcy Court in Houston. These unfortunate and unforeseen circumstances caused by the pandemic, are making it truly difficult to stay afloat in … Continue reading
Briggs and Stratton File for Bankruptcy
Recently, Briggs and Stratton Corporation, a small engine manufacturer, has filed for bankruptcy in the US Bankruptcy Court for the Eastern District of Missouri. The manufacturer has plans to sell its assets for $550 million to KPS Capital Partners LP, … Continue reading
American Airlines Furlough 25,000 Employees
With some states experiencing another rapid increase in COVID-19 cases, American Airlines notify their frontline workers of possible layoffs. According to The Worker Adjusting and Notification Act, the employers are required to notify employees of possible lay offs at least … Continue reading
Lucky Brand Dungarees LLC slides into the Bankruptcy Wave
Lucky Brand Dungarees LLC prepares themselves to file for bankruptcy due to the unpredicted circumstances caused by the pandemic, yet again. They plan to close to at least 13 stores, and but sell their investment business to the director of … Continue reading
Former Prosecutor May Face Charges
A former prosecutor, Jeanne Lippert, from Erie County may be facing charges after her bankruptcy case was reopened. Jeanne filed for Chapter 7 bankruptcy in January of this year. The federal government wants to reopen because of accusations of “false … Continue reading
Mexico’s Second Largest Airline Files for Bankruptcy
Mexico’s second largest airline, Grupo Aeromexico SAB, has filed for bankruptcy. While there has been a sharp decrease in travel, the company is using this time to refinance. The impact has been so significant that the airline was forced to … Continue reading