Pages
May 2024 M T W T F S S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Categories
Archives
Blogroll
Tag Archives: Debt
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
Pressure Mounts on SBA to Forgive Loans, Prevent Fraud
The Treasury Department and SBA have not yet forgiven any of the 5.2 million emergency coronavirus loans issued to small businesses. Small businesses that received Paycheck Protection Program funds, as well as their banks, have been frustrated by the difficulty … Continue reading
Southwest Seeks Pay Cuts from Unions to Avoid Layoffs Through 2021
Southwest Airlines said that it is asking unions to agree to pay cuts in order to prevent furloughs and layoffs as the industry struggles to slow losses from the coronavirus pandemic Unions represent about 83% of Southwest employees. Non-union staff … 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
Regal Cinemas to Close All U.S. Theaters This Week
Cineworld announced today that it will close all of its movie theaters in the United States this week after the postponement of the new James Bond film left a big hole in schedules. The closures affected 536 U.S.-based Regal Cinemas … Continue reading
CDC issues sweeping temporary eviction ban
The CDC and the Trump Administration issued an order that would make it illegal to evict an individual who expects to make less than $99,000 or a joint-filing couple that expects to make less than $198,000 in 2020. The order … 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
Ex-Owner in $146 Million Elder Care Default is Charged in Ponzi Case
A Chicago-area rabbi, who formerly owned a nursing home chain at the heart of the biggest default in the history of a federal mortgage-guarantee program, has been indicted on federal charges of stealing millions of dollars from investors. The $146 … Continue reading