Legendary Fireman Hospitality declares bankruptcy, triggering NYC’s largest restaurant downturn since 2020.
The lingering effects of the coronavirus pandemic are casting a shadow over Fireman Hospitality Group, which operates several historic Italian restaurants in Manhattan. This month, the group made a surprising decision to file for Chapter 11 bankruptcy, noting that cash-flow issues had begun well before the 2020 lockdown. The organization is grappling with a significant […]
Rebel Creamery seeks bankruptcy protection after a $23.8 million loss in a packaging dispute with Van Leeuwen Ice Cream.
Rebel Creamery, an ice cream manufacturer based in Utah, has declared bankruptcy following a legal defeat against competitor Van Leeuwen. The court ordered Rebel to pay $23.8 million after determining that Rebel had deliberately copied Van Leeuwen’s packaging. The company sought Chapter 11 protection in a Utah U.S. Bankruptcy Court on Friday. Reports indicate that […]
Impending bankruptcy deadline for LA school district creates turmoil for families
With bankruptcy looming in less than three weeks, Los Angeles Unified School District (LAUSD) might have to hand over control to the county, which could create even more challenges for families in the area. The district, which is the second largest in the U.S., is grappling with a significant deficit stemming from unpaid labor contracts. […]
Saks Global emerges from bankruptcy and rebrands as Exemplar Luxury Group
Saks Global Rebrands as Exemplar Luxury Group Following Bankruptcy Saks Global announced on Friday that it will rebrand itself as Exemplar Luxury Group after successfully emerging from bankruptcy, which involved reducing its number of stores and significantly cutting its debt load. The company, which owns well-known brands like Saks Fifth Avenue, Neiman Marcus, and Bergdorf […]
Camp Mystic Files for Bankruptcy Following Fatal Flash Flood in Texas
Camp Mystic Files for Bankruptcy Following Tragic Flooding A Texas summer camp, Camp Mystic, which saw the loss of 25 girls and additional staff during severe flooding in July 2025, has reportedly filed for Chapter 11 bankruptcy protection as of Wednesday. The camp’s financial documents submitted to the U.S. Bankruptcy Court for the Southern District […]
Red Lobster’s 37-year-old CEO aims for a strong revival using nostalgia and AI after filing for bankruptcy.
In May 2024, Red Lobster shut down numerous locations across the United States before seeking Chapter 11 bankruptcy protection. Now, the seafood restaurant’s 37-year-old CEO has ambitious plans for what he calls “the biggest comeback in the history of the restaurant industry.” Damola Adamolekun, who took over as CEO in September 2024 after his time […]
On the Border shuts down all its owned restaurants following bankruptcy.
On the Border Mexican Grill & Cantina Closes All U.S. Locations After over 40 years of serving up fajitas, queso, and margaritas, On the Border Mexican Grill & Cantina has announced that it will be shutting down all its remaining restaurants across the United States. This decision comes as the Tex-Mex chain, founded in Dallas, […]
Five West Marine locations in California shutting down due to bankruptcy filing
West Marine to Close 59 Stores as Bankruptcy Looms West Marine, a major player in the boating and marine products retail sector in the U.S., has announced the closure of 59 stores across 23 states, with five of those located in California. The company sought bankruptcy protection in May, attributing its struggles to “supply chain […]
Phoenix Pride Declares Bankruptcy Before ‘Pride Month’
Phoenix Pride, the main organization behind Arizona’s biggest LGBTQ+ event, has announced it is filing for bankruptcy just before Pride Month begins. The filing was made in U.S. Bankruptcy Court in Arizona, indicating that Phoenix Pride is seeking Chapter 11 protection, which allows it to keep operating while restructuring its debts under legal supervision, according […]
Public opinion divides on Social Security changes as 2032 bankruptcy approaches
Concerns Over Social Security Reform as Insolvency Looms New estimates indicate that Social Security may face insolvency by 2032, which could lead to automatic benefit cuts. Opinions among Americans on how to reform this entitlement program are quite divided, according to a recent poll. The recently published Reagan National Economic Survey, which FOX Business reviewed, […]