GM Asks Bankruptcy Court To Block Ignition-Related Lawsuits

GM Asks Bankruptcy Court To Block Ignition-Related Lawsuits

A few weeks back, new General Motors CEO Mary Barra hedged on whether her company would hide behind the shield of its 2009 bankruptcy in order to block lawsuits tied to the ongoing ignition-related recalls, telling lawmakers only that “we have civic responsibilities as well as legal responsibilities.” In the weeks since, GM has made it very clear that it will do everything it can to use its own financial incompetence and ineptitude to put up a wall against these lawsuits. [More]

Coldwater Creek Files For Bankruptcy Protection, Planning Big Farewell Sale

Coldwater Creek Files For Bankruptcy Protection, Planning Big Farewell Sale

Where will all of the women in the world shop for quality clothes at good prices? Fine, there are plenty of other clothiers, but that doesn’t make the demise of Coldwater Creek any less sad. The stores aren’t closing just yet, but that will be the next step after the retailer filed for Chapter 11 bankruptcy protection. [More]

Match Made In Mall Heaven: Spencer May Be Buying Brookstone

Match Made In Mall Heaven: Spencer May Be Buying Brookstone

Earlier this year, we told you about the questionable future of mall mainstay Brookstone, which has been mulling over the need to file for bankruptcy protection in order to keep selling massage chairs and gadgets that break a week after you buy them. That fate still looms for Brookstone, but its salvation may ultimately come from another mall mainstay that gives me flashbacks to endless hours spent perusing Iron Maiden posters and flipping through the pages of Truly Tasteless Jokes books. [More]

Quiznos Makes Chapter 11 Bankruptcy Official, Must Win Back Customers And Franchisees

Quiznos Makes Chapter 11 Bankruptcy Official, Must Win Back Customers And Franchisees

Quiznos announced today that, as we reported a few weeks ago, the company will be filing for Chapter 11 bankruptcy protection, a move that will let the chain cut its debt load by about 2/3. That’s great news for the corporate headquarters, but will dissatisfied franchisees be happy with the plan? [More]

Sbarro Officially Files For Bankruptcy Protection For Second Time Since 2011

Sbarro Officially Files For Bankruptcy Protection For Second Time Since 2011

We told you last week that mediocre pizza-slinger and mall mainstay Sbarro would likely be filing for Chapter 11 bankruptcy protection. Today, it made that filing official, making this the second bankruptcy for Sbarro since the spring of 2011. [More]

(Morton Fox)

Sbarro Planning To File For Chapter 11 Bankruptcy Protection… Again

Like my Great Uncle Aloysius always used to say — if at first you don’t succeed at restructuring your failing pizza chain under Chapter 11 bankruptcy protection, try, try again. After its first round with Chapter 11 didn’t work out so well, Sbarro is reportedly planning to file for bankruptcy again. [More]

If everyone's home was more like this, maybe Brookstone wouldn't be thinking about bankruptcy...

Mall Mainstay Brookstone May Go Bankrupt Because You’re Not Buying Enough Massage Chairs & iPod Robots

Brookstone, better known as the store in the mall where you try out all those cool gadgets and massage chairs you’ll never buy, is reportedly considering filing for bankruptcy protection, but don’t expect any awesome liquidation sales in the foreseeable future. [More]

‘You’re Not Bankrupt? Our Bad’: Fifth Third Bank Accidentally Reports Customers As Bankrupt

‘You’re Not Bankrupt? Our Bad’: Fifth Third Bank Accidentally Reports Customers As Bankrupt

How does go about accidentally being listed as bankrupt? Doesn’t seem possible, what with all the paperwork and such, right? Unless, of course, your bank takes the initiative and does it for you. And that’s just what happened for several Fifth Third Bank customers recently. [More]

One Company Is Working Hard To Make Sure Your Student Loans Stay With You Until You Die

One Company Is Working Hard To Make Sure Your Student Loans Stay With You Until You Die

Sometimes, terrible things happen in life.  When something like cancer strikes, despite your best intentions and hardest efforts, medical bills and unemployment can leave you in a position where paying off your student loans is just not a thing you can make happen. [More]

Judge Orders Bank Of America To Pay $10K/Month If It Wants To Keep Hassling Couple

Judge Orders Bank Of America To Pay $10K/Month If It Wants To Keep Hassling Couple

Here’s how inept Bank of America is. Not only did the bank ignore the fact that a couple’s mortgage debt had been discharged in bankruptcy, continuing to harass them for a debt they no longer owed, it also ignored messages from the bankruptcy court judge. That is until after the judge imposed a $10,000/month sanction on the bank. [More]

Scoot!

Scooter Store Files For Bankruptcy After Overbilling Medicare At Least $47 Million

If you watch daytime TV or have been stuck watching daytime TV while visiting your parents, surely you’re familiar with The Scooter Store. The power wheelchair vendor has had some trouble lately, including accusations of Medicare and Medicaid fraud, a raid by the FBI, and even a lawsuit from the company’s hometown, of New Braunfels, Texas. The company laid off most of its employees, and plans to deal directly with health care providers, rather than blanketing the airwaves and selling directly to consumers. [More]

Judge Tells Outgoing American Airlines CEO He’s Not Getting $20 Million Payout

Judge Tells Outgoing American Airlines CEO He’s Not Getting $20 Million Payout

A couple weeks back, the federal bankruptcy judge overseeing American Airlines’ attempts to get back to profitability approved the carrier’s merger with US Airways but held off on giving approval to a proposed $19.9 million payout to American CEO Tim Horton, who will be out of a job if the merger goes through. Last night, the judge finally got around to ruling on that matter, and it was probably a sad evening in the Horton house. [More]

Bankruptcy Court Signs Off On US Airways/American Merger, But Not On $20 Million Payout To Outgoing CEO

Bankruptcy Court Signs Off On US Airways/American Merger, But Not On $20 Million Payout To Outgoing CEO

Yet another hurdle in the race to the altar for American Airlines and US Airways has been cleared, with the bankruptcy court giving its blessing on the matter, but reserving judgment on a proposed $19.9 million payout to outgoing CEO Tom Horton. [More]

In just a few days, area residents and businesses have raised nearly $80,000 to save Once Upon a Toy.

Community Raises $80,000 In Attempt To Save Local Toy Store

Just a week ago, it looked like an independent Illinois toy store would be going out of business after the bank chose to not renew the store’s business loan for another year. But online efforts to raise money by today’s deadline may have saved the store. [More]

(phildesignart)

Bankruptcy Finally Ends Father’s 4-Year Struggle To Repay Dead Son’s Student Loan

Back in June, we told you about the California man who had spent years trying to sort out his late son’s student loans, only to keep running into dead ends and and roadblocks. Now, after four years of struggling to figure out how much is owed and to whom, he’s finally getting some relief. [More]

(nicole_writes)

Bankrupt Hostess Wants To Reward Executives With $1.8 Million In Bonuses

Only days after being unable to work things out with a striking union, and forcing us all to devour faux Twinkies for our creamy, spongy sugar fix, the folks at Hostess Brands Inc. are asking for a bankruptcy court to approve up to $1.8 million in bonus payments to top executives. [More]

(Alan Rappa)

Hostess To Liquidate Assets Into Sugary, Cream-Centered Cash

Unable to reach a deal with a labor union representing around one-third of its employees, management of Hostess Brands — the Twinkie and Wonder Bread people — have asked a bankruptcy court to allow it to close up shop and liquidate all of its assets. [More]

(Louis Abate)

Pizza Franchisees Say Chain Owners Took Groupon Money But Didn’t Share

Back in August, the owners of New England’s Upper Crust chain of pizzerias ran two offers on Groupon, selling more than 6,000 $12 vouchers that could be redeemed for $25 in food. But some franchisees who run independently own Upper Crust stores say they were not told in advance about the Groupons and that they never saw a lick of that cash. [More]