All articles tagged with #chapter 11
Originally Published 2 days ago — by Bloomberg.com
Saks Global Enterprises is planning to file for Chapter 11 bankruptcy as soon as Sunday due to severe cash flow issues, despite advanced negotiations for a $1.25 billion debtor-in-possession financing package to keep the business operational during bankruptcy proceedings.
Originally Published 14 days ago — by Yahoo Finance
Bosque Brewing Company is closing all its taproom locations after a federal judge dismissed its Chapter 11 bankruptcy case due to excessive debt, marking another casualty in the ongoing craft beer industry decline that began in 2023.
Originally Published 27 days ago — by AP News
iRobot, the maker of Roomba robotic vacuums, has filed for Chapter 11 bankruptcy protection amid financial struggles and a failed acquisition by Amazon. The company is being acquired by Picea through a court-supervised process, which aims to strengthen its financial position and ensure continuity for customers and partners. iRobot expects to complete the restructuring by February with no disruptions to its operations.
Originally Published 2 months ago — by Cleveland.com
A Texas federal judge rejected Dr. Phil's attempt to file for Chapter 11 bankruptcy for his media company, Merit Street Media, citing deleted evidence and unfair creditor payments, ruling that the company must proceed with Chapter 7 liquidation instead.
Originally Published 2 months ago — by The Hollywood Reporter
Dr. Phil lost a court case that challenged his media startup's bankruptcy, which the court found was improperly filed to favor certain creditors and involved misconduct such as deleting incriminating messages. The case will now proceed as a Chapter 7 liquidation, with a trustee overseeing asset sales and ongoing litigation, including allegations of financial misconduct and breach of contract.
Originally Published 3 months ago — by Yahoo Finance
Wolfspeed emerged from Chapter 11 with significantly reduced debt and a new board, but shareholders faced an 85% loss in value due to massive stock dilution; the company is focusing on AI, EV, and energy markets with new manufacturing investments and government support to drive a turnaround.
Originally Published 3 months ago — by Bloomberg.com
First Brands Group Holdings has filed for Chapter 11 bankruptcy due to creditor concerns over opaque off-balance sheet financing and a debt load estimated between $10 billion and $50 billion, after mounting scrutiny and failed refinancing efforts. The company, known for auto parts like wiper blades and filters, relies heavily on debt-funded acquisitions and supply-chain financing, raising questions about its financial practices. A group of creditors has committed $1.1 billion in debtor-in-possession financing to keep operations running during restructuring.
Originally Published 3 months ago — by PR Newswire
FTX will distribute approximately $1.6 billion to creditors in its third distribution on September 30, 2025, following its Chapter 11 reorganization plan. Eligible creditors must complete KYC, tax forms, and onboarding with designated service providers (Bitgo, Kraken, Payoneer) to receive funds, which will be paid directly to these providers. The distribution includes various classes of claims, with some receiving up to 120%.
Originally Published 4 months ago — by NPR
Spirit Airlines has filed for bankruptcy protection for the second time in less than a year, despite efforts to restructure and continue operations, as it faces mounting debt, declining demand, and market pressures, with plans to keep flying during the process and consider asset sales.
Originally Published 4 months ago — by CNBC
Spirit Airlines has filed for Chapter 11 bankruptcy protection for the second time in a year, aiming to reduce costs by shrinking its network and fleet after failing to improve its financial situation post-previous restructuring, amid high costs and weak demand.
Originally Published 4 months ago — by MLive.com
Bravo Brio Restaurants, owner of Bravo! Italian Kitchen and Brio Italian Grille, filed for Chapter 11 bankruptcy due to industry pressures like rising costs and declining demand, aiming to find new investors and stabilize finances amid a tough year for many restaurant chains.
Originally Published 5 months ago — by MLive.com
Claire's, a popular teen and tween retail chain with around 2,750 stores in the U.S., has filed for Chapter 11 bankruptcy for the second time in six years due to increased competition, declining mall traffic, and economic pressures. While most stores will remain open during the restructuring process, some locations are already scheduled to close, and the company is exploring the sale of assets and strategic alternatives to address its financial challenges.
Originally Published 6 months ago — by MLive.com
Del Monte Foods, a historic canned fruit and vegetable company with 139 years of operation, has filed for Chapter 11 bankruptcy to facilitate a court-supervised sale of its assets, aiming to strengthen its financial position and ensure continued operations during a challenging macroeconomic environment.
Originally Published 6 months ago — by The Washington Post
Del Monte Foods, a historic canned goods company founded in 1886, has filed for Chapter 11 bankruptcy due to increasing debt, economic challenges, and changing consumer spending habits.
Originally Published 6 months ago — by nypost.com
Del Monte Foods, a 139-year-old company known for canned fruits, vegetables, and beverages, has filed for Chapter 11 bankruptcy in the US and is pursuing a sale, supported by $912.5 million in financing, aiming to strengthen its operations and turnaround.