(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]

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]

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]

(Alan Rappa)

To Preserve The Brand, Hostess Leaves Equity Owners Without A Twinkie To Show For Their Investment

Back in January, Hostess Brands Inc., makers of the Twinkie and lots of other snacks (but mostly the Twinkie) declared bankruptcy. Yesterday the company finally filed its plan to get out of bankruptcy, which basically amounts to telling its equity owners, “Thanks for all the money, now go away.” [More]

Kodak Gets Out Of The Digital Camera Business

Kodak, the company whose name was once synonymous with photography, announced today that it will phase out its digital cameras, pocket video cameras and digital picture frames during the first half of this year, as it fights to crawl out from under Chapter 11 bankruptcy protection. [More]

Report: Kodak Prepping To File For Chapter 11

Report: Kodak Prepping To File For Chapter 11

The new year isn’t getting off to a good start for the photo folks at Eastman Kodak Co., which is reportedly preparing to file for Chapter 11 bankruptcy protection if it can’t unload a pile of its patents on buyers in the next few weeks. [More]

American Airlines Files For Bankruptcy Protection

American Airlines Files For Bankruptcy Protection

The third-largest airline in the U.S. has more to worry about than delays and baggage fees. Earlier today, American Airlines announced that it and its parent company are filing for Chapter 11 bankruptcy protection, and that its CEO has stepped down. [More]

Friendly's Files For Bankruptcy Protection, Closes 63 Restaurants

Friendly's Files For Bankruptcy Protection, Closes 63 Restaurants

As we reported last week, the financial outlook at ice cream and burger chain Friendly’s is bleak. Earlier today, the company confirmed rumors it would be filing for Chapter 11 bankruptcy protection and announced it has closed 63 shops around the country. [More]

Diners and Employees at Marie Callender's Restaurants Abruptly Kicked Out

Diners and Employees at Marie Callender's Restaurants Abruptly Kicked Out

Marie Callendar’s may be known for warm pot pies, but patrons and employees of Marie Callendar’s restaurants in Washington got a cold bit of news last night: The eatery’s parent company told restaurant managers they needed to shut down and tell customers — some in the middle of their meals — to get out. [More]

American Apparel May Pout Its Way Into Bankruptcy

American Apparel May Pout Its Way Into Bankruptcy

American Apparel, the store perhaps better known for the barely legal, oft-undressed models in its ads, and the peccadilloes of company founder Dov Charney, than for its actual clothing, has alerted the Security and Exchange Commission that it may need to file for Chapter 11 bankruptcy protection. [More]

Sbarro Pizza Preheats Oven For Chapter 11 Bankruptcy

Sbarro Pizza Preheats Oven For Chapter 11 Bankruptcy

Lovers of lukewarm pizza, despair. Troubled pizza chain Sbarro is getting ready to file for Chapter 11 Bankruptcy. The slice slingers are $365 million in debt and made the move after missing their interest payments. Part of the reason Sbarro has been suffering is because it has a lot of shops tied up in malls. Traffic to those dying down with the recession and the rise of online shopping has meant fewer patrons hitting the food court. The other reason is that their pizza is just sad. [More]

Borders Turns The Page To Chapter 11

Borders Turns The Page To Chapter 11

We knew this was going to happen, and now it has come to pass: Borders has filed for Chapter 11 bankruptcy protection and plans to shutter 30% of its stores as a result. [More]

Ultimate Electronics To Liquidate, Close All Stores

Ultimate Electronics To Liquidate, Close All Stores

Ultimate Electronics, a Colorado-based chain, took on a nationwide expansion in 2010, opening new stores, entering new markets, and taking over a lot of empty retail space abandoned by Circuit City. Now the big-box dream is over: the company filed for Chapter 11 bankruptcy in late January, and announced this week that it will liquidate and close all 46 stores. [More]

Report: Blockbuster Exploring Bankruptcy Options

Report: Blockbuster Exploring Bankruptcy Options

Hear that rattling sound? It’s coming from the chest of Blockbuster Video. A new report claims that the once-mammoth video rental chain, which admitted only months ago that bankruptcy might be in the offing, is now prepping for the harsh reality of Chapter 11 protection. [More]

US Fidelis Files Chapter 11, No Longer Sells Warranty-Like Objects

US Fidelis Files Chapter 11, No Longer Sells Warranty-Like Objects

Extended car warranty company US Fidelis already stopped selling new car service contracts and laid off over half of their staff at the end of 2009, and has now filed for Chapter 11 bankruptcy protection. [More]

Samsonite Files For Bankruptcy

Samsonite Files For Bankruptcy

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.

GM To Taxpayers: Bail Us Out Or We'll Liquidate

GM To Taxpayers: Bail Us Out Or We'll Liquidate

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.

Ritz Camera Files For Bankruptcy

Ritz Camera Files For Bankruptcy

Ritz Camera, an occasional and colorful character on our blog (scam confessions! feedback bribery!) has just filed for Chapter 11 bankruptcy protection.