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The budget airline filed for Chapter 11 bankruptcy protection in November, facing over $1 billion in looming debt payments and accumulating more than $2.5 billion in losses since 2020.
Stoli Group USA, the owner of the namesake vodka, filed for bankruptcy in December. A number of things went wrong for the unit, including a slowing demand for spirits, a major cyberattack that ...
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The increase in bankruptcies comes as diners pull back their spending, labor costs keep rising and Covid-era government help disappears. Several more restaurant chains could file for bankruptcy ...
The luxury chain filed for Chapter 11 bankruptcy in the Southern Court of Texas in May 2020. [220] New York & Company shuttered all of its stores by late summer 2020 as a result of its parent company, RTW Retailwinds, filing for bankruptcy. [221] In October 2020, its remaining assets were sold to New York investment company Saadia Group. [222]
According to a report released by S&P Global Market Intelligence, there were 591 bankruptcy filings as of Nov. 30 this year, just behind 2020's tally of 603 in the same period. By comparison ...
4. Rubio’s Coastal Grill. Rubio’s, a Southern California chain that practically put fish tacos on the map, filed for Chapter 11 bankruptcy in June 2024. Blaming inflation and skyrocketing ...
Chapter 11 bankruptcy is often referred to as "reorganization bankruptcy" and typically allows a business to stay open while it reorganizes funds to pay off existing debt over time.