Italian restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy on Monday, days after closing 13 underperforming eateries nationally, including one of its three local locations.
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A consortium that includes Indianapolis-based Simon Property Group has offered a non-binding letter of intent to potentially purchase the majority of its stores and operations. Four Indiana stores are slated for closure, according to bankruptcy papers.
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The company’s bankruptcy filing comes less than a month after it shut down its Andersen plant in a decision that blindsided employees.
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Netfor’s CEO said an ill-timed investment in office space created financial problems for the company, but that he expects “no impact” to employees and clients as Netfor works to restructure its finances.
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The filing arrives two weeks after the trading of company shares was suspended by the New York Stock Exchange. Under Chapter 11 protection, The Container Store will continue to operate while it restructures.
According to the company’s website, all stores are closing and discounts of up to 50% are being offered on the entire assortment goods.
The airline has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion in 2025 and 2026.
The owner of the retail chain, which operates stores throughout Indianapolis and Indiana, has agreed to close all stores nationwide as part of a Chapter 11 bankruptcy agreement.
Going forward, customers in “global core markets” will still be able to purchase Tupperware products online and through the brand’s decades-old network of independent sales consultants.
Chicago-based True Value, which has hardware stores throughout Indiana, on Monday began voluntary Chapter 11 bankruptcy proceedings, with the goal of selling its business operations to Do It Best Corp.
In Tuesday’s bankruptcy petition, Tupperware reported more than $1.2 billion in total debts and $679.5 million in total assets. Shares for the company have fallen 75% this year and closed Tuesday at about 50 cents apiece.
Big Lots said it does plan to close some stores, but didn’t specify how many or what locations would be affected. At the end of 2023, Big Lots operated nearly 1,400 stores in 48 states.
The flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments and now plans to keep some of its stores open instead of completely ending operations.
A U.S. bankruptcy judge on Thursday approved the casual seafood chain’s reorganization plan, which includes a lender group led by asset manager Fortress acquiring the business.
EV sales have slowed as manufacturers have attempted to push electric vehicles into the mainstream.
In the U.S. Bankruptcy Court for the Southern District of Indiana, April numbers for all bankruptcy cases—including Chapters 7, 11 and 13—were up 19.9% compared to the same time last year.
After closing dozens of restaurants, including one in Indianapolis, the seafood chain has agreed to sell itself to its lenders―giving it a $100 million financing commitment to keep it afloat.
The fabrics and crafts retailer, which has five Indianapolis-area stores, will become privately owned after emerging from Chapter 11 bankruptcy protection.
The CEO of Blue Marble says the company is about $22 million in debt and considering its options after three of its creditors moved last month to force it into bankruptcy.
The agreement hammered out with state and local governments and victims would provide billions of dollars to combat the opioid epidemic. The decision also has implications for other major product liability lawsuits settled through the bankruptcy system.
It’s been a brutal year for startups, with more companies struggling to raise money and hundreds shutting down altogether, according to new data.
The office-sharing company once seen as a Wall Street darling had promised to upend the way people went to work around the world, but is now seeking Chapter 11 protection.
Some businesses in the industry are continuing to bet big even as rivals such as AppHarvest wobble and fail.
The company, which provides doctors to rural hospitals to staff their emergency rooms and other critical areas, listed liabilities of $18.5 million and assets of just $19,701.
