Big Lots to close stores, may file for bankruptcy
Discount home goods retailer Big Lots said it plans to close more stores this year and may face permanent closures, becoming the latest major chain to face financial collapse as inflation-hit shoppers cut back on spending. The Ohio-based company operates approximately 1,400 stores nationwide. June SEC filings The company said it plans to close 35 […]
Mod Pizza chain could soon be filing for bankruptcy: report
Popular fast-casual pizza chain Mod Pizza may soon follow several other well-known US restaurants into filing for bankruptcy, according to a new report. The company, which has operations in 28 states, is preparing to file for bankruptcy and could seek court protection as early as next week, the people said. He told Bloomberg Wednesday. But […]
Redbox DVD rental parent company files for bankruptcy
See what’s clicking on FoxBusiness.com Chicken Soup for the Soul Entertainment (CSSE) has filed for bankruptcy nearly two years after acquiring DVD rental company Redbox. CSSE, the ad-supported video-on-demand streaming service that also owns Crackle, disclosed in a Delaware filing that it owes nearly $1 billion to more than 500 creditors, including Walmart, Walgreens and […]
Wife of Raiders coach Antonio Pierce files for bankruptcy
Raiders head coach Antonio Pierce was named in his wife’s bankruptcy filing in Phoenix on June 12 and is listed as a surety on a judgment of more than $28 million. Pierce, whom the Raiders hired in January as the team’s full-time head coach, invested millions of dollars in a car dealership that the couple […]
Bankruptcy Court Trustee Files Motion to Liquidate, ‘Wind-Down’ Alex Jones’ Infowars
A bankruptcy court trustee has filed a motion to liquidate and “wind down” Alex Jones’ Infowars media platform, with funds to be used to pay more than $1 million in legal judgments over comments he made about the 2012 Sandy Hook Elementary School shooting. Christopher Murray submitted According to ABC News, Trump filed a motion […]
Bankruptcy court trustee plans to shut down Alex Jones' Infowars, liquidate assets
The bankruptcy trustee for Alex Jones said on Monday that he plans to shut down Jones’ media site Infowars and liquidate his business assets to repay the families of the victims of the Sandy Hook High School shooting. Court-appointed trustee Christopher Murray said in an “emergency” motion that he would conduct an “orderly winding down” […]
Rite Aid Approaches 550 Store Closures as Bankruptcy Proceeding Continues
Rite Aid plans to close 27 more stores in Ohio and Michigan as it moves through bankruptcy, according to court documents. Rite Aid closed more than 520 stores after filing for reorganization in October, NBC News reported. report Most of the closures occurred in Pennsylvania and neighboring states, with more than 100 stores closing in […]
Rite Aid to close over two dozen stores amid bankruptcy proceedings
Rite Aid plans to close more than 20 more stores in two states. The drugstore chain filed a “Notice of Additional Store Closures” in federal bankruptcy court in New Jersey on Monday, adding a total of 27 stores in Michigan and Ohio to its closures. Twelve of those are in Michigan, according to the filing. […]
FTX Customers ‘Aggrieved and Robbed’ by Bankruptcy Process
Victims of disgraced former FTX CEO Sam Bankman Freed’s fraud are seeking a ruling that the failed crypto exchange’s seized assets belong to its customers, not its bankruptcy estate, calling it a “second act of theft.” In May, the bankruptcy estate was suggested The restructuring plan allows 98% of creditors to receive 118% of their […]
Tesla rival Fisker files for bankruptcy after glitches doomed Ocean SUVs
US electric car maker Fisker Inc filed for bankruptcy late on Monday as it seeks to salvage the business through asset sales and debt restructuring after burning through cash to expand production of its Ocean SUV. In the competitive EV market, several companies, including Proterra, Lordstown and Electric Last Mile Solutions, have filed for bankruptcy […]