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Charter Cable has filed for Chapter 11 bankruptcy, but said operations will continue as normal. [Marketwatch] (Thanks to CaptZ!)
bankruptcies
Muzak Bankrupt
By 2.12.09
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.
Fortunoff Files For Bankruptcy (Again)
By 2.5.09
Regional jeweler Fortunoff has thrown in the towel and filed for bankruptcy today. The retailer cited terrible holiday sales, a “severe liquidity crisis” in January, and the cost of expanding its jewelry line into Lord & Taylor stores as reasons. Fortunoff was brought out of an earlier bankruptcy about a year ago by a private equity firm, but it didn’t take.
Filene's Basement Closing 11 Stores
By 1.21.09
Unless Filene’s Basement can renegotiate its rents, they’re set to close 11 of their 36 stores by February’s end. 3 of their stores in MD, one in NJ, NY, and VA, 2 in IL and PA, and one in MA, are on death row. If you’re a bride-to-be in one of the affected areas, guess you’ll have to travel out-of-state if you want to take advantage of one of their famous “Running of the Brides” sales, where hordes of women descend in teams to try on and buy wedding dresses marked down from the thousands of dollars to the hundreds.
Consumer's FAQ To The Circuit City Liquidation
By 1.16.09
Now that Circuit City is getting liquidated, what happens to your gift cards? What about extended warranties and repairs? These burning questions and more, answered in our Consumers’ FAQ to the Circuit City liquidation extravaganza…
Circuit City Will Completely Liquidate
By 1.16.09
Circuit City has reached an agreement with Gordon Brothers Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC and Tiger Capital Group LLC to start liquidating all of its stores. Sha na na na, na na na, hey hey hey, goodbye, to the dirty, the poorly stocked, the indifferent, the incompetent, the irrelevant. [AP] (Thanks to Jeremey!)
Black Angus Files For Bankruptcy
By 1.16.09
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)
Circuit City Bouncing Refund Checks, But Will Reissue Them
By 11.26.08
If you have a Circuit City refund check not deposited before 11/10, it’s going to bounce.
Judge Orders Credit Reporting Bureaus To Strike Forgiven Debts From Records
By 10.1.08
The three big credit reporting agencies—Experian, TransUnion, and Equifax—have been inaccurately reporting debts on millions of consumers’ credit reports even after the debts have been forgiven during bankruptcy filings. Once forgiven, the debts are supposed to be removed from credit reports, but the agencies are continuing to report them as active. They have until October 1st to comply with Judge David O. Carter’s order to “revamp their systems,” writes Jane J. Kim on the Wall Street Journal’s finance blog. Now if you’re in debt trouble, you can look forward (?) to having either unpaid debts on your credit report, or a bankruptcy filing, but hopefully no longer both at the same time.
What Merrill, Lehman, And AIG Customers Need To Know
By 9.16.08
NYT’s Ron Leiber breaks down what you need to know and do if you are or were a customer of Merrill Lynch, Lehman, or AIG…
Lehman Brothers Did Business With Mortgage Fraudsters Back In 2000
By 9.15.08
The Lehman Brothers collapse is shocking! Unless you remember a little story from 8 years ago…
Lehman Files For Chapter 11, BoA Buys Merrill Lynch
By 9.15.08
Bankers worked hard over the weekend to prevent the American financial system from imploding.
- Lehman filed for Chapter 11
- Bank of America bought Merrlil Lynch
- A special trading session was opened Sunday from 2-6pm to allow traders to try to unwind their positions
- The Fed is expected to temporarily make it easier for banks to borrow from the government
- European Central Banks stand ready to pump billions into the global market
- Washington Mutual’s new CEO’s disclosure of further writedowns and setting aside of capital calmed investors and stemmed the massive selloff of its stock
Despite Bankruptcy, Olevia Says Warranties Good
By 7.28.08
Even though they filed for Chapter 11, the makers of Olevia brand TVs have pledged that they will continue to honor their warranties, reports Marketnews. The news should come as a relief to worried consumers. Olevia was known for making good HD-LCD tvs at a good price.
Olevia TV-Maker Files For Bankruptcy. Goodbye, Warranties.
By 7.10.08
If you have an Olevia TV, your warranty is probably going to be worthless now. Parent company Syntax-Brillian has filed for Chapter 11 bankruptcy protection. Olevia is going to be spun off into its own limited liability company. An Engadget commenter suggests that after the bankruptcy proceedings, Syntax-Brillian will have no assets, only liabilities. In accounting terms, outstanding warranties are a liability. It’s just an educated guess, but don’t plan on counting on Olevia to fulfill their warranties (not like they were so great at service to begin with). Instead, if you bought an Olevia on a credit card, you may have extended warranty protection through your credit card company, as Meghann describes in a recent post (see number 6).
Consumer Bankruptcies Up Nearly 50% From A Year Ago
By 5.5.08
The number of people filing for bankruptcy continues to increase, as bad mortgages and the rising price of [insert noun here] squeezes every last penny out of debt-laden consumers. The American Bankruptcy Institute says the number of filings was up 47.7% in April from a year ago, and up 7.1% from March ’08.
By 5.2.08
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Quick, spend all those 20% off coupons you’ve been hoarding: Linen’s N Things filed for Chapter 11 bankruptcy protection. [NYT]
