Tag Archives: Bankruptcy

Cinema Chain Alamo Drafthouse Plans Bankruptcy Sale to Fortress-Led Investors

Alamo Drafthouse Cinemas Holdings LLC, a theater chain offering moviegoers seat-side food service, beer and themed cocktails, has filed for bankruptcy while planning to sell the business to Fortress Investment Group LLC and other investors. Austin, Texas-based Alamo became the … Continue reading

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Hertz Global Files Reorganization Plan

Car rental company Hertz Global Holdings Inc. said that it had filed a proposed plan of reorganization with the U.S. Bankruptcy Court for the District of Delaware. Under the plan, Knighthead Capital Management LLC and Certares Opportunities LLC will invest … Continue reading

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Owners of 70 Missouri and Illinois Jack in the Box Restaurants File for Bankruptcy

The owners of 70 Missouri and Illinois Jack in the Box restaurants filed for bankruptcy, citing competition and the coronavirus pandemic. The chapter 11 filings potentially affect 57 restaurants in Missouri, with 1,338 full- and part-time workers, and 13 restaurants … Continue reading

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Jeff Bezos to Step Down as Amazon C.E.O.

Amazon founder Jeff Bezos announced that he would be stepping down as C.E.O. after building the company into a $1.7 trillion behemoth that became known as “the everything store,”. In the process, he upended the retail industry, turned Amazon into … Continue reading

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N.R.A. Declares Bankruptcy and Seeks to Exit New York

Seeking an end-run around an investigation by the New York attorney general, the National Rifle Association said that it was declaring bankruptcy and would reincorporate in Texas. The group’s effort to circumvent New York’s legal jurisdiction raised immediate questions from … Continue reading

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DeVos Suspends Student Federal Loan Payments through January

The Trump administration on Friday suspended all federal student loan payments through the end of January and kept interest rates at 0 percent, extending a moratorium that started early in the pandemic but was set to expire at the end … Continue reading

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CONSUMER FINANCIAL PROTECTION BUREAU AND MULTIPLE STATES ENTER INTO SETTLEMENT WITH NATIONSTAR MORTGAGE, LLC FOR UNLAWFUL SERVICING PRACTICES

Today the Consumer Financial Protection Bureau (Bureau) filed a complaint and proposed stipulated judgment and order against Nationstar Mortgage, LLC, which does business as Mr. Cooper (Nationstar).  The Bureau’s action is part of a coordinated effort between the Bureau, a … Continue reading

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Theater Chain AMC Says It Could Run Out of Cash by Year-End

The world’s largest movie-theater company may run out of cash by year’s end if it doesn’t raise additional funds or get more people back to theaters following pandemic shutdowns that have disrupted businesses dependent on consumers gathering in public spaces, … Continue reading

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Restaurant that Ignored COVID-19 Rules in Pennsylvania Files for Bankruptcy

A Brentwood, Pa., restaurant ordered to close for ignoring COVID-19 masking requirements has filed for chapter 11 bankruptcy, the Pittsburgh Post-Gazette reported. The Crack’d Egg filed the petition on Friday in U.S. Bankruptcy Court in Pittsburgh, and it will continue to operate … Continue reading

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Quiksilver Owner Sued over Oaktree-Backed Rescue Deal

Investors sued Boardriders Inc., the company behind the Quiksilver and Billabong brands, over a $431 million rescue financing package they said elevated the interests of a select group of lenders. Intermediate Capital Group PLC, York Capital Management and other lenders … Continue reading

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