Bed Bath & Beyond warns about bankruptcy as sales plummet
“There is substantial doubt about the company’s ability to continue as a going concern,” the retailer said in a statement.
“There is substantial doubt about the company’s ability to continue as a going concern,” the retailer said in a statement.
Sam Bankman-Fried may be ready to come to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX following a chaotic court appearance in the Bahamas.
Party City’s debt load is unsustainable, according to S&P Global Ratings, which downgraded the company deeper into junk territory last month.
The revelations, which came in a filing to U.S. Bankruptcy Court in Delaware late Saturday, offer a striking portrait of the sheer number of entities that had considerably invested in, loaned money to or otherwise engaged with the three-year-old company.
The new CEO of the collapsed cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said there was a “complete absence of trustworthy financial information.”
The Justice Department and two federal regulators have launched probes into FTX, looking into whether the collapsing cryptocurrency exchange had skirted rules on safeguarding consumer deposits and relationships with trading affiliates, according to four people familiar with the inquiries.
The swift collapse of cryptocurrency exchange FTX sent more shockwaves through the crypto world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices.
Scott Wise, founder of now-defunct Indianapolis-based restaurant chain Scotty’s Brewhouse, said his personal bankruptcy is related to financial issues from the chain’s collapse.
More than 80,000 men have filed claims saying they were abused as children by Boy Scouts troop leaders around the country.
Indianapolis-based Aearo Technologies LLC’s recent bankruptcy filing won’t shield its corporate parent 3M Co. from the massive flood of product-liability lawsuits over Aeros’ military earplugs, a judge has ruled.
Cineworld faces challenges specific to itself after building up $4.8 billion in net debt, not including lease liabilities. But the entire industry is navigating a tenuous recovery after the pandemic shut theaters worldwide.
Aearo Technologies filed for Chapter 11 bankruptcy protection this week as a way to deal with the more than 230,000 product liability suits filed against the company and its corporate parent, 3M, in recent years over its now-discontinued Combat Arms earplugs.
Already weighed down by rising debt, Revlon’s problems only intensified with the pandemic as lipstick gave way to a new era in fashion, this one featuring medical-grade masks.
Electric vehicle startup Electric Last Mile Solutions Inc. planned to use a 650,000-square-foot plant that was formerly used to make Hummers to manufacture “last mile” battery-powered, urban delivery vans.
The depth of the situation came to light after Robyn Dale “Rob” Whitlow, 51, filed for Chapter 7 bankruptcy protection late last month, declaring personal assets of $45,305, balanced against liabilities of just more than $2 million.
The Chapter 7 bankruptcy filing lists 359 unsecured claims from customers with unfulfilled orders, including many for thousands of dollars.
A sentencing hearing is scheduled Thursday for BancServ Partners LLC founder Kerri Agee, who was found guilty on fraud and conspiracy charges in August.
Brackett, who played for the Indianapolis Colts from 2003 to 2011, got into the restaurant business after retiring from the NFL. He closed his Stacked Pickle sports-bar chain in May 2020 because of the pandemic.
A bankruptcy judge on Thursday approved a proposal by the Boy Scouts of America to enter into an agreement that includes a fund to compensate tens of thousands of men who say they were sexually abused as youngsters by Scout leaders and others.
More than 51,000 eviction filings have been made in Indiana during the pandemic, including nearly 16,000 in the Indianapolis metropolitan area, according to Indiana Legal Services.