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Chapter 11 filings for businesses increased by 29 percent in September 2023 compared to the same month last year. (American Bankruptcy Institute)Overall, commercial bankruptcy filings were up 16 ...
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [13] closing the remaining 54 stores [14] with plans to auction its intellectual property. [15] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [16] The shoe chain emerged from bankruptcy two years later. [17]
KidKraft, a toy company, filed for Chapter 11 bankruptcy and said it would sell its U.S. and Canadian assets to Backyard Products. It has been in business for more than 50 years.
Best Products – filed for bankruptcy for the second time in September 1996 [33] [34] and closed all of its stores by the following February [35] [36] Brendle's – became bankrupt and liquidated in 1996 [37] [38] Consumers Distributing – sought bankruptcy protection in 1996; Ellman's – acquired by Service Merchandise in 1985 [39] [40]
The bank began as a subsidiary of Bank Hapoalim that took on clients with assets of around $250,000, lending to small businesses based in New York City and in the surrounding metropolitan area. [55] The bank provided financing within the multifamily residential rental housing market in the New York metropolitan area beginning in 2007, [ 56 ...
Of course, filing for bankruptcy doesn’t necessarily mean a business is going bust. Companies tend to use the Chapter 11 process to wind down some operations, tackle mounting debt and save on ...
Post-bankruptcy filing, CMED's liquidator found itself probing an alleged $355 million insider fraud. In March 2017, the U.S. Department of Justice criminally indicted the CMED founder and CEO, as well as the former Chief Financial Officer, charging them with securities fraud and wire fraud conspiracy for stealing more than $400 million from ...
As pandemic restrictions loosen, bankrupt companies get a new lease on life.As the pandemic swept across the globe in 2020, a new sort of crisis began to emerge: bankruptcies.