As we suspected earlier this week, ’90s mall staple Pacific Sunwear — known as PacSun to all the cool kids — has announced it’ll be filing for Chapter 11. Don’t start your teary farewell speech just yet — the company has a restructuring plan already in place to avoid liquidating its inventory, and will keep stores running throughout the process. [More]
The bankruptcy rumor mill has been turning yet again, with a new report in the wind that says Pacific Sunwear — commonly known as PacSun — is preparing a Chapter 11 filing. [More]
Dov Charney’s dream of buying back the company he founded would appear to be over: a U.S. judge said he will approve American Apparel’s plant to exit bankruptcy and rejected a takeover bid from the former CEO and his financial backers. [More]
You might have the same reaction that we did to news that the company that owns Columbia House filed for Chapter 11 bankruptcy today: astonishment that it’s still in business at all. Our younger readers are probably just wondering what a “Columbia House” is. Yet the company still exists, and business isn’t quite where it was at the company’s peak in 1996. [More]
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]
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]
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 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.
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]
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.”
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.
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.
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.
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.