Chapter 11 – News Stories About Chapter 11 - Page 2

Pandemic Claims a Retail Victim: J. Crew

First Big Retailer to Fail
From Virus Files for Bankruptcy

May 4, 2020 6:03 AM CDT

First Big Retailer to Fail From Virus Files for Bankruptcy

J. Crew was already struggling even before the pandemic

(Newser) - J. Crew was having a tough time even before the pandemic arrived. Now, the New York Times says it's the "first major retailer to fall" from the virus, seeking bankruptcy protection to try to stay alive. On Monday, the clothing retailer's parent company, Chinos Holdings, filed to...

It's Chapter 11 for Forever 21

Sep 30, 2019 4:07 AM CDT

It's Chapter 11 for Forever 21

Retailer calls bankruptcy filing a 'deliberate step'

(Newser) - Low-cost fashion retailer Forever 21 says it has filed for bankruptcy protection—but that doesn't mean it is doomed. In a letter to customers Sunday, the 35-year-old chain said it will be business as usual during reorganization and filing for Chapter 11 protection "is a deliberate and decisive...

High-End Clothier
to Shutter Most Stores

Aug 6, 2019 9:00 AM CDT

High-End Clothier to Shutter Most Stores

Barneys' flagship NYC location will remain open, but many others to close in bankruptcy filing

(Newser) - Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar. The iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but it has secured $75 million in...

Largest Utility in America Files for Bankruptcy

In Wake of Calif. Wildfires,
PG&E Makes a Big Move

Jan 29, 2019 5:52 AM CST

In Wake of Calif. Wildfires, PG&E Makes a Big Move

Largest utility in America files for bankruptcy

(Newser) - America's largest utility, Pacific Gas & Electric Corp., filed for bankruptcy Tuesday as it faces billions of dollars in potential damages from wildfires in California. The utility filed documents in a US court seeking Chapter 11 reorganization despite state investigators determining last week that its equipment wasn't to...

It's Chapter 11 for
Guitar Maker to the Stars

May 1, 2018 11:15 AM CDT

It's Chapter 11 for Guitar Maker to the Stars

Les Paul maker Gibson to 'refocus' on musical instruments

(Newser) - It made what VH1 calls "arguably the most famous guitar in rock," the Les Paul Standard cradled by Led Zeppelin's Jimmy Page. Now Gibson needs help churning out its guitars also favored by David Bowie and John Lennon . The company filed for Chapter 11 bankruptcy protection Tuesday,...

'Dawning of a New Era'
With Toys R Us Bankruptcy

Sep 19, 2017 4:54 AM CDT

'Dawning of a New Era' With Toys R Us Bankruptcy

'Finally, the straw broke the camel's back'

(Newser) - More trouble in the world of big-box stores: Toys R Us, hobbled by a huge debt load and struggling to compete with online retailers, has filed for Chapter 11 bankruptcy protection. Dave Brandon, chief executive of the world's biggest toy store chain, describes the move as the "dawning...

Toshiba's Nuclear Unit Files for Chapter 11

Toshiba Throws In
Nuclear Towel: Chapter
11 for Westinghouse

Mar 29, 2017 3:02 PM CDT

Toshiba Throws In Nuclear Towel: Chapter 11 for Westinghouse

Challenges proved too great—and may be nuclear industry harbinger

(Newser) - More fallout from Toshiba's reported "nuclear" loss last month, this time in the form of a bankruptcy filing. In what the AP says was a "largely expected" move, Toshiba noted in a statement Wednesday that its Westinghouse nuclear unit has submitted a Chapter 11 petition to the...

Company Shkreli
Wanted to Turn
Around Files for
Chapter 11

Dec 30, 2015 8:22 AM CST

Company Shkreli Wanted to Turn Around Files for Chapter 11

KaloBios Pharmaceuticals is still appealing its Nasdaq delisting

(Newser) - Earlier this month, Martin Shkreli's company dumped him as CEO after he was arrested for securities fraud . But the damage to KaloBios Pharmaceuticals has been done, and Tuesday the company filed for Chapter 11 bankruptcy protection in Delaware, Reuters reports. The filing lists assets of more than $8 million...

So Long, 20th Century:
Columbia House
Files Chapter 11

Aug 11, 2015 11:24 AM CDT

So Long, 20th Century: Columbia House Files Chapter 11

Ex-mail-order giant just couldn't compete with digital music, streaming

(Newser) - Nearly everyone with a penny and a PO box who came of age in the final part of the 20th century built up their CD—or gasp, cassette tape—collections with the help of mail-order giant Columbia House. But what the Verge calls the "Spotify of the '80s"...

RadioShack Files
for Chapter 11

Feb 5, 2015 5:45 PM CST

RadioShack Files for Chapter 11

Electronics store had tried to stave off bankruptcy

(Newser) - Struggling electronics retailer RadioShack has filed for Chapter 11 bankruptcy protection and says it will sell up to 2,400 stores. The Fort Worth, Texas company said today that it was also having discussions to sell all of its remaining assets . RadioShack Corp. introduced one of the first mass-market personal...

Quiznos Files for Bankruptcy

Mar 14, 2014 1:46 PM CDT

Quiznos Files for Bankruptcy

But chain says it will be business as usual for its stores

(Newser) - Quiznos has filed for Chapter 11 bankruptcy protection to reduce its debt by more than $400 million. The sandwich chain said today that it voluntarily filed to reorganize to put a restructuring plan into place. Quiznos says customers won't notice. The company owns and operates only seven of the...

Sbarro Ready for
Chapter 11, Round 2

Mar 6, 2014 9:54 AM CST

Sbarro Ready for Chapter 11, Round 2

Exiting bankruptcy in 2011 didn't appear to take

(Newser) - If at first you don't succeed, try, try, again: Probably not advice you'd want from your bankruptcy attorney, but Sbarro is getting ready to undergo its second round of Chapter 11, reports the Wall Street Journal . The pizza chain, which is carrying some $140 million in debt and...

Atari Files for Bankruptcy in US

Jan 21, 2013 10:36 AM CST

Atari Files for Bankruptcy in US

In an effort to free itself from its French parent company

(Newser) - Atari is going bankrupt, but don't worry: It has an extra life. Or at least, that's what Atari Inc., the New York-based part of the legendary video game company, is hoping. It has declared Chapter 11 bankruptcy in an effort to free itself of its French parent company...

Pink Slime Maker
Files Chapter 11

Apr 2, 2012 12:09 PM CDT

Pink Slime Maker Files Chapter 11

AFA Foods blames sudden drop-off in demand for beef products

(Newser) - Apparently it's going to take more than a couple of governors chowing on a burger to save pink slime: AFA Foods, a leading manufacturer of "boneless lean beef trimmings," today filed for Chapter 11 bankruptcy protection, citing a steep drop-off in demand for its products. AFA will...

Kodak Files for Bankruptcy

Jan 19, 2012 6:30 AM CST

Kodak Files for Bankruptcy

Future looks bleak for photography pioneer's workers, retirees

(Newser) - The once-mighty Eastman Kodak company has filed for bankruptcy. The 131-year-old firm, unable to reinvent itself quickly enough for the digital age, filed for Chapter 11 bankruptcy protection this morning after running out of cash to fund its turnaround, the Wall Street Journal reports. The company says it has secured...

Hostess Files for Bankruptcy

Jan 11, 2012 7:03 AM CST

Hostess Files for Bankruptcy

Second Chapter 11 filing in recent years

(Newser) - Bad news for Twinkies lovers: Hostess filed for Chapter 11 bankruptcy protection today. But never fear, the company will continue operating during bankruptcy proceedings with help from a $75 million loan. "We remain hopeful that we can reach an agreement that will allow us to amend our labor contracts...

American Airlines
Files for Bankruptcy

Nov 29, 2011 7:59 AM CST

American Airlines Files for Bankruptcy

Parent firm says voluntary move best choice for firm

(Newser) - American Airlines and American Eagle's parent companies are filing for bankruptcy protection. AMR Corp. and AMR Eagle Holding Corp. said today that they filed voluntary petitions to reorganize, saying it's in the best interest of the companies and its shareholders. American says it sought protection to reduce its...

Nostalgia Goes Belly-Up: Friendly's Files Chapter 11

Oct 5, 2011 1:32 PM CDT

Nostalgia Goes Belly-Up: Friendly's Files Chapter 11

Ice cream chain's model 'is no longer viable,' says expert

(Newser) - You may have let out a nostalgic, "Awwww" when you heard the news that ice cream chain Friendly's filed for Chapter 11 bankruptcy protection this morning. "Oh, that's so sad. I love Friendly's," says one mother whose kids enjoy the same Fribble concoctions she...

Solar Firm Touted by Obama Goes Belly-Up

Sep 1, 2011 7:47 AM CDT

Solar Firm Touted by Obama Goes Belly-Up

...leaving Uncle Sam on the hook for $535M

(Newser) - One of the showpieces for President Obama’s green jobs push is going under—and leaving the federal government on the hook for $535 million worth of guaranteed loans in the process. Solyndra, a California-based solar cell manufacturer, told workers yesterday that it would be closing its remaining plant, laying...

Philly Orchestra
Files for Backruptcy

Going for Baroque?

Apr 17, 2011 9:58 AM CDT

Philly Orchestra Files for Backruptcy

Board cites large decline in audience, but musicians say move premature

(Newser) - The 111-year-old Philadelphia Orchestra is filing for Chapter 11 bankruptcy protection, citing a "tremendous decline" in audiences. The orchestra, made internationally famous by such great conductors as Stokowski and Ormandy, has $46 million in operating costs this year, but is expecting just $33 million in revenues, reports the AP...