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On July 25, 2007, Delta Entertainment Corporation filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Court for the Central District of California, Los Angeles. [2] At the time of the Chapter 11 filing, two major unsecured creditors were Sony Disc Manufacturing, owed over $1,000,000, and the Harry Fox Agency ...
On March 28, 2001, Store of Knowledge filed for Chapter 11 bankruptcy protection. It immediately closed 21 stores on April 1 and began liquidating the remaining 70. [ 32 ] The move to wind down the chain came just weeks after Berk told trade publication Gifts & Decorative Accessories that it had no plans to open or close stores in the immediate ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Terms of an employee contract negotiated over years can be eliminated in months through Chapter 11. Terms of the Railway Labor Act, amended in 1936 to cover airlines, prevent most labor union work actions before, during and after an airline bankruptcy. Continental Airlines declared bankruptcy, Chapter 11, a second time in December 1990.
[27] [28] The stores began a liquidation sale on October 24, 2015, and by November 13, 2015, all of their stores were closed, along with the termination of the Friends Rewards program. [29] Since then, the Fresh & Easy brand has totally vanished. On October 30, 2015, Fresh & Easy filed for Chapter 11 bankruptcy for the second time in two years ...
The company made no official comments at the time, but on July 29, 2008, Mervyn's announced that it had filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Northern District of California. [18] [19] Soon, the Chapter 11 case was converted to Chapter 7 liquidation on October 17, 2008. At the time of this ...
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The report did not specify a date for the closures. [16] On March 2, 2016, Sports Authority filed for Chapter 11 bankruptcy. [17] After considering restructuring, Sports Authority announced that on April 26, they would sell all of their assets, including all of the remaining store locations. [18]