chapter-11
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—>Yesterday, a gorilla* stormed through the offices of Samsonite Corp, the "world's top luggage maker," and jumped up and down on their financial status. Their retail unit filed for Chapter 11 bankruptcy and will close approximately half of their 173 stores. More »
—>With two weeks to go before the government deadline to approve GM's restructuring plan, the AP says that GM's CEO Rick "The Station" Wagoner told the press that if GM is allowed to go into bankruptcy, it will simply be liquidated. More »
—>Ritz Camera, an occasional and colorful character on our blog (scam confessions! feedback bribery!) has just filed for Chapter 11 bankruptcy protection. More »
Charter Cable has filed for Chapter 11 bankruptcy, but said operations will continue as normal. [Marketwatch] (Thanks to CaptZ!) More »
—>Ever acoustically bankrupt, Muzak,the makers of elevator music, have declared themselves financially bankrupt by filing for Chapter 11. The company's unique style of precisely limited in tempo and dynamics and unswervingly bland music may not be long for this world. Office workers and elevator riders, rejoice. More »
—>Black Angus filed for bankruptcy yesterday. The recession bodes ill for casual dining; "The debtors’ restaurants primarily are located in some of the areas hardest hit by the mortgage crisis, causing consumers in those markets to cut back on discretionary spending," said the company in a statement filed with the bankruptcy court. Guess it turns out you can't feed yourself with home equity after all. [Bloomberg] (Thanks to Ken!) (Photo: bdjsb7) More »
Bally Total Fitness has filed for Chapter 11 Bankruptcy... again. [MarketWatch] More »
—>Earlier this year when the Sharper Image declared bankruptcy, they briefly stopped accepting gift certificates. Eventually, they did start accepting them again — but with the requirement that consumers buy twice the face value of the card. This, it seems, has caused a fair amount of panic among consumers. Chain emails are circulating warning shoppers not to buy gift cards from various retailers — claiming that they are going out of business. But are they? More »
—>If you have a Circuit City refund check not deposited before 11/10, it's going to bounce. More »
