If Aereo wasn’t dead already, the announcement from TiVo that it’s successfully snagged the former streaming service’s trademarks and customer lists will certainly send any hopes that the company could resurrect itself six feet into the ground. After an assets auction last month where companies picked over Aereo’s bones, TiVo says a U.S. Bankruptcy Court judge has approved its purchase of those assets. [More]
bankruptcy
Senators Introduce Legislation To Make Private Student Loans Dischargeable In Bankruptcy
By 3.12.15
Since 2005, student borrowers have been unable to discharge their private student loans through the process of bankruptcy. But that could soon change after a group of 12 senators introduced a bill aimed at addressing the current student debt crisis by restoring the bankruptcy code to hold private student loans in the same regard as other private unsecured debts. [More]
Caché To Liquidate, Close All Remaining Stores
By 3.9.15
If you have a gift card sitting around for women’s clothing retailer Caché, it’s time to dig it out of the depths of your purse and use it. The company wasn’t able to find a buyer to keep some version of its business alive into the future, and going-out-of-business sales began over the weekend. [More]
Chase Hit With $50 Million Settlement Over Robosigned Mortgage Documents
By 3.3.15
The nation’s biggest banks have already been hit with billions of dollars in settlements over robosigning — the illegal process of signing and filing important mortgage documents without reviewing them for accuracy — so what’s a few million more? Today, the Justice Dept. announced a settlement with JPMorgan Chase that will require the bank to pay more than $50 million in cash, mortgage credits, and loan forgiveness, to over 25,000 currently and recently bankrupt homeowners. [More]
One-Hour Facelift Company Lifestyle Lift Abruptly Closes, Considering Bankruptcy
By 3.3.15
Cosmetic surgery chain Lifestyle Lift promises clients it can remove wrinkles, frown lines and sagging skin in just a matter of an hour. But if you were planning to stop by one of the company’s centers on Monday you were likely met with locked doors and few answers. [More]
Use Your RadioShack And Deb Gift Cards Right Now
By 3.2.15
Do you have gift cards lingering in your wallet from RadioShack or Deb? If so, put down the device you’re reading this post on and head over to the store right now to spend that card. That’s only slightly hyperbolic, but card holders will need to get to RadioShack before March 5 and to Deb before March 8 to cash in their cards before they’re worthless. [More]
TiVo Picks At The Scraps Of Aereo’s Remains
By 2.27.15
It’s been about eight months since a divided U.S. Supreme Court thrust a dagger through the gut of streaming video startup Aereo, and three months since the company filed for bankruptcy protection. And any hope that the company might be sold or resurrected has vanished with news that its name and patents have been sold off like parts of an old used car. [More]
RadioShack Selling Name Separately From Stores: Bids Start At $20 Million
By 2.25.15
In a bankruptcy auction, creditors want to extract as much money as they can from the company’s remaining assets that have any value. Recognizing that “Radio Shack” is a brand that people at least recognize, the company’s lawyers announced today in court that its name and intellectual property will sell separately from the store leases. [More]
Corinthian College’s Canadian Subsidiary Files For Bankruptcy A Week After Campuses Shut Down
By 2.24.15
Less than a week after the Ontario Education Ministry closed 14 Everest College campuses in the province, the Canadian subsidiary of for-profit college operator Corinthian Colleges Inc. announced it had filed for bankruptcy. [More]
Here’s The Profane Goodbye Ad RadioShack Should Air To Everyone Laughing At Its Doom
By 2.9.15
As you’re no doubt aware, increasingly irrelevant retailer RadioShack — whose image was so mired in the 1980s that it included Hulk Hogan and Cliff Clavin in a 2014 Super Bowl ad — declared bankruptcy last week and plans to close thousands of stores across the country. The news has been received by many, including myself, with a shrug, but is that any way to treat a company that’s been around for nearly a century? [More]
Here’s A List Of Proposed RadioShack Store Closings
By 2.6.15
No one who has been paying attention to retail news is surprised that RadioShack filed for Chapter 11 bankruptcy protection yesterday, and that the chain plans to close about half of its stores. Yet you may be wondering: what if I need a soldering kit or a cordless phone battery at 4 P.M. on a Friday? How many of the Radio Shacks near me are going out of business? [More]
Yep, RadioShack Declared Bankruptcy Today
By 2.5.15
In a completely unsurprising piece of news, RadioShack, a retailer that used to periodically sell some electronics, has filed for Chapter 11 bankruptcy, as predicted. Negotiations earlier this week resulted in an agreement where wireless carrier Sprint will take over about half of the chain’s stores, and the other half will close. [More]
Women’s Formalwear Retailer Caché Files For Bankruptcy, Closing Some Stores
By 2.4.15
Women’s specialty retailer Caché announced Wednesday that it would be joining Wet Seal, Jones New York and DEB on the growing list of companies filing for bankruptcy or closing their stores in 2015. [More]
SkyMall Files For Bankruptcy Because You’re Not Buying Enough Inflatable Movie Screens
By 1.23.15
The SkyMall catalog has always been good for a chuckle when you have absolutely nothing else to read during a flight and you just can’t sleep. Some people have presumably even bought stuff through the publication, as it’s difficult to sustain a business for 25 years if the only revenue is punchlines. But apparently not enough of us are doing our inflight shopping through SkyMall, as the company has filed for Chapter 11 bankruptcy protection. [More]
Wet Seal Files For Chapter 11 Bankruptcy Protection, Shocking No One
By 1.16.15
We’ve heard the funereal bag pipes warming up over the last few months and now it’s time to play the official dirge: Wet Seal has filed for bankruptcy protection in an effort to keep what stores it has left open in business. [More]
RadioShack Putting Off Paying Rent For Some Stores In Midst Of Restructuring
By 1.16.15
After the news that RadioShack is in the midst of preparing to file for bankruptcy soon comes more evidence that the struggling chain is trying to get itself set aright: A new report says RadioShack is saving cash by putting off paying rent. [More]
Report: RadioShack Preparing To File For Bankruptcy As Soon As Next Month
By 1.15.15
RadioShack’s march toward doom is continuing steadily on, after announcing it would close a bunch of stores, then saying it wouldn’t close as many because even that was too expensive, and telling employees it would no longer match employees’ retirement contributions as of next year, the struggling electronics retailer is reportedly getting ready to file bankruptcy papers. [More]
Teen-Targeted Retailer dELiA*s Is bANkruPt. Will Close Stores, Liquidate Merch
By 12.5.14
Clothing retailer dELiA*S — a store best known for its complete disregard for capitalization and punctuation — has announced today that teenage girls have moved on to other retailers, leaving it in d33p n dEbT and having to file for Chapter 11 bankruptcy protection while it closes stores and liquidates its assets. [More]
