All articles tagged with #financial troubles
Saks Fifth Avenue is facing imminent bankruptcy due to financial struggles following a costly acquisition of Neiman Marcus, leading to inventory shortages, delayed vendor payments, and declining customer confidence, which threaten its future viability.
iRobot, the maker of Roomba robotic vacuums, has filed for bankruptcy due to financial difficulties, highlighting challenges faced by the company in the competitive smart home market.
A wildlife park in New Zealand, Kamo Wildlife Sanctuary, is closing down and plans to euthanize seven elderly lions due to financial difficulties, as they cannot afford the costs of care or find alternative homes.
The article discusses First Brands Group's financial difficulties, highlighting concerns over cash flow and the company's need for financial support, as reported by the Financial Times.
Aaron Phypers, amid ongoing financial and personal struggles related to his divorce from Denise Richards, was seen purchasing lottery tickets, possibly hoping for a financial breakthrough as he seeks access to joint bank accounts and faces eviction threats.
The Broadway revival of Cabaret at the Kit Kat Club is closing early due to financial issues and a lawsuit from an investor claiming fraud, despite high gross earnings, and star Billy Porter recovering from illness, leading to the show's final performances.
Kodak, the historic film company, denies reports of imminent shutdown despite financial challenges and debt concerns, emphasizing plans to strengthen its balance sheet through pension fund reversion and cost reduction efforts, aiming to remain operational.
Boeing has laid off hundreds of employees in Washington and California as part of a planned reduction of 17,000 jobs, aiming to address financial and regulatory challenges. The layoffs, which affect various roles across the company, are part of a 10% workforce cut announced earlier. Boeing has faced financial difficulties since the 737 Max crashes and a recent machinists' strike, although the company states the layoffs are due to overstaffing. Affected employees will receive severance and transition support.
Five Frisch's restaurant locations in Hamilton County, including the original Fairfax site, are facing eviction due to ongoing financial difficulties. Court hearings for these evictions are scheduled for December 13, 2024, following a series of similar financial challenges and evictions across the Greater Cincinnati area.
Rudy Giuliani expressed frustration in a federal court as Judge Lewis Liman warned him of potential sanctions for failing to comply with court orders in a defamation case involving two election workers. Giuliani, who claims financial hardship, has been accused of delaying proceedings and not turning over assets as ordered. The case stems from a $148 million defamation judgment against him for false claims about the workers' involvement in the 2020 election. Giuliani's attempts to delay the trial were rejected, and he continues to face legal and financial challenges.
Spirit Airlines has filed for bankruptcy, citing financial difficulties exacerbated by the ongoing challenges in the airline industry. The company plans to restructure under Chapter 11 to address its financial issues and continue operations.
Rudy Giuliani has reportedly moved his belongings out of his New York apartment as creditors pursue him for unpaid debts. This development comes amid Giuliani's ongoing legal and financial challenges, including lawsuits and mounting legal fees.
Despite filing for Chapter 11 bankruptcy, Red Lobster remains open in 44 states with over 500 locations still operational. The company has closed about 15% of its restaurants due to financial issues, including $294 million in debt, and aims to streamline operations and potentially sell its assets.
Experts argue that Red Lobster's financial woes are not due to its all-you-can-eat shrimp deal but rather long-term issues like excessive debt and ownership turnover, exacerbated by private equity deals. The company, which recently filed for Chapter 11 bankruptcy, may close over 100 locations if it cannot renegotiate leases.
Shares of French IT firm Atos fell 14% as the company considers two rescue deals that will significantly dilute existing shareholders. The deals, led by Czech billionaire Daniel Kretinsky and key shareholder David Layani, are part of a months-long restructuring process. Atos aims to secure support from financial creditors by June 5 and finalize the restructuring in July. The company has been struggling with mounting debt and failed acquisition talks, including discussions with Airbus and the French government.