Category Archives: Companies

Fairway Market Declares Bankruptcy and Announces Store Closures Fairway Market filed for Chapter 11 bankruptcy protection on Thursday. It also reached a deal with Village Super Market to sell its Manhattan distribution facility and five Manhattan stores. According to the supermarket chain, the remaining 9 shops will be sold under court supervision. Fairway Market said […]

California Pizza Kitchen Responds Quickly to Bankruptcy Exit According to Judd Tirnauer (the company’s new chief finance officer), things have improved for California Pizza Kitchen Inc. after a brief stint in bankruptcy court. Tirnauer, who replaced Carey Carrington as interim CFO at CPK last month, said that the company was forward-thinking and took the necessary […]

Bankruptcy Purdue Pharma Purdue Pharma’s proposed bankruptcy plan for restructuring is now up for a vote among claims and creditors. Following the voting period, the Bankruptcy Court will hold a Confirmation Hearing to decide whether the plan should be approved. On August 9, 2021, a hearing for confirmation will be conducted. If you filed a […]

For PG&E To Survive And Thrive When It Emerges From Bankruptcy, It Must Achieve Four Goals After 18 months in bankruptcy, California’s biggest utility has emerged victorious. It is confronted with the same issues that led it to this position in bankruptcy. The 18-month bankruptcy of Pacific Gas & Electric has concluded. It now has […]

Friendly’s: The Rise and Fall Friendly’s announced on November 2, 2020, that it filed Chapter 11 bankruptcy owing to the “catastrophic effects of COVID-19.” Friendly’s: The rise and fall of the fast-casual chain known for its ice-cream and diner-style meals, filed for bankruptcy just 85 years after it was founded in 1935. Friendly’s was established […]

The Van Elslander Family Is Buying Back Art Van Furniture’s Rights To Its Name Gary Van Elslander (the founder’s son) offered $6 million to acquire the name rights through a family investment company called VEC. The transaction was authorized by a bankruptcy court judge overseeing Art Van Furniture’s ongoing liquidation case. The legal rights to Art […]

Windstream Emerges After Chapter 11 Reorganization Windstream Holdings declared Monday that it was free from Chapter 11 bankruptcy protection. Windstream, a privately-owned business, has eliminated more than $4Billion in debt and has approximately $2 billion available for future development. Windstream was established in 2006 as a traditional telecommunications company. Windstream is now a software and communications company. […]

Thomas Cook Airlines: Rise & Fall Thomas Cook filed for bankruptcy in 2019, leaving thousands of travelers stranded overseas. Thomas Cook’s origins Thomas Cook is a rare travel company that can trace its history back to 1841. Cook hired a Midland Counties Railway train to transport 500 people from Leicester, England, to Loughborough. It was […]

Sears’ Future is in Jeopardy Sears Holdings, the parent company of Sears and Kmart, filed into bankruptcy less than two years ago. Although the business that emerged from bankruptcy had much less debt, it is nonetheless precarious. Sears has struggled in the year since it emerged from bankruptcy. The coronavirus epidemic may spell the last […]

According to the NRA, its finances are sound. So, why would it file for bankruptcy? The National Rifle Association boasted that it was financially sound when it filed for Chapter 11 bankruptcy protection. The powerful gun lobbying group stated that “In fact, the move comes at a time when the NRA’s strongest financial condition in many […]