Phil Murphy’s Flawed School Funding Formula Sends One Of New Jersey’s Largest Districts Into Bankruptcy
TOMS RIVER, N.J. — The Toms River Regional School District is warning of potential summer school cancellations and exploring Chapter 9 bankruptcy as it faces a multimillion-dollar budget shortfall, despite increases in…
Archdiocese of Baltimore Files for Bankruptcy Ahead of New Maryland Law on Sexual Abuse
BALTIMORE, MD – The Archdiocese of Baltimore filed for Chapter 11 bankruptcy protection on Friday, a preemptive move ahead of a Maryland state law that would allow survivors of sexual abuse more…
Rite-Aid in Bankruptcy Talk, Announces Closure of Hundreds of Stores
NEWARK, NJ – Hundreds of Rite-Aid stores are shutting down including many in New Jersey, New York and Pennsylvania. Rite Aid is currently in negotiations with creditors regarding a bankruptcy plan that…
Rite Aid plans to shut down hundreds of stores in bankruptcy – WSJ
(Reuters) – Rite Aid is negotiating with creditors over the terms of a bankruptcy plan that would include liquidating a substantial portion of its more than 2,100 drugstores, the Wall Street Journal…
Toms River Rite-Aid Among Three Closing as Bankruptcy Looms
Two Rite Aid stores in New Jersey have closed and one more will be shutting down soon as the company contemplates a Chapter 11 bankruptcy filing, which could provide a legal shield…
Ford CEO says UAW proposal could force bankruptcy
(Reuters) – Ford Motor Chief Executive Jim Farley said Thursday the United Auto Workers union proposal to hike wages by 40%, cut workweeks and add new pension benefits could bankrupt the company.…
Bankruptcy, Unpaid Bills, Criminal Rap Sheet, Bias Crimes Highlight Toms River Dem Ticket
TOMS RIVER, NJ – The Toms River Democrats waited until the last minute to announce their full slate of candidates in the November election and today, we’re learning why. A late filing…
Party City set to exit bankruptcy with $1 billion debt reduction
By Dietrich Knauth (Reuters) -A U.S. bankruptcy judge on Wednesday approved Party City Holdco’s Chapter 11 bankruptcy plan, which will cancel about $1 billion in company debt and turn all of its…
Wall Street funds explore potential bankruptcy plan for WeWork – WSJ
(Reuters) – A group of wall street funds which lent cash to WeWork is exploring the possibility of a bankruptcy filing, the Wall Street Journal reported on Thursday citing people familiar with…
China Evergrande says bankruptcy protection filing does not involve petition
(Reuters) – Embattled property developer China Evergrande Group said on Friday its application to the U.S. Court for bankruptcy protection is a normal procedure for offshore debt restructuring and does not involve…
Apollo Global pulls out of Yellow’s bankruptcy financing plan
(Reuters) – Apollo Global Management is selling off a $500 million term loan given to Yellow Corp and dropping plans to extend financing to fund the freight group’s bankruptcy, the Financial Times…
Private jet firm Wheels Up considers options, including bankruptcy protection
(Reuters) -Private jet charter company Wheels Up Experience said on Monday it was considering strategic alternatives, including filing for bankruptcy protection, sending its shares down over 8% in extended trading. The company…
Biotech firm Amyris files for bankruptcy in US
(Reuters) – Biotech firm Amyris Inc on Wednesday said it has filed for Chapter 11 bankruptcy in a U.S. court and is planning to sell its consumer brands to improve the company’s…
EV firm Proterra files for Chapter 11 bankruptcy protection
(Reuters) -Electric-vehicle parts supplier Proterra filed for Chapter 11 bankruptcy protection on Monday, making it the latest company to go belly up in an industry grappling with supply chain constraints, slowing demand…
Trucking Giant Files For Bankruptcy After Receiving Over $700 Million In Gov Loans
Trucking Giant Files For Bankruptcy After Receiving Over $700 Million In Gov Loans Will Kessler on August 7, 2023 Trucking company Yellow filed for Chapter 11 bankruptcy on Sunday after receiving more…
Trucking firm Yellow considers asset sale through bankruptcy filing – Bloomberg News
(Reuters) – Trucking firm Yellow is considering a sale of assets and real estate through a bankruptcy filing, which may come as soon as this weekend, Bloomberg News reported on Friday, citing…
U.S. Trucking firm Yellow prepares for bankruptcy – WSJ
(Reuters) – U.S. trucking firm Yellow is preparing to file for bankruptcy, the Wall Street Journal reported on Wednesday, as customers abandon the company amid a cash crunch and union negotiations. The…
David’s Bridal avoids shutdown with no-cash bankruptcy sale
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt wedding gown retailer David’s Bridal received court approval on Friday to sell its business to asset manager Cion Investment Corp in a no-cash transaction,…
Bankruptcy filings surge in first half of 2023 in US – Epiq
(Reuters) – U.S. Chapter 11 bankruptcy filings jumped 68% in the first half of 2023 from a year earlier, Epiq Bankruptcy, a provider of U.S. bankruptcy filing data, said on Monday. SVB…
National CineMedia to emerge from bankruptcy in August or September
(Reuters) – National CineMedia LLC said on Tuesday it would emerge from Chapter 11 on or around August or September as its reorganization plan has been confirmed by the U.S. Bankruptcy Court…
Electric Vehicle Startup Files For Bankruptcy, Sues Investment Partner
Electric Vehicle Startup Files For Bankruptcy, Sues Investment Partner Will Kessler on June 27, 2023 Electric vehicle startup Lordstown Motors Corp. (LMC) filed for Chapter 11 bankruptcy on Tuesday, blaming its financial…
Georgia-Pacific may maintain bankruptcy pause on lawsuits, court rules
By Dietrich Knauth (Reuters) – Georgia-Pacific can avoid litigating tens of thousands of asbestos lawsuits while its subsidiary Bestwall remains in bankruptcy, an appeals court ruled Tuesday. In a 2-1 decision, the…
Medtech firm Surgalign files for Chapter 11 bankruptcy
(Reuters) – Beleagured U.S. medical technology company Surgalign Holdings filed for a voluntary Chapter 11 bankruptcy on Monday. Surgalign filed for the bankruptcy with estimated assets and liabilities in the range of…
Aircraft parts supplier Incora files for bankruptcy
By Dietrich Knauth NEW YORK (Reuters) – Aerospace supplier Incora filed for Chapter 11 protection on Thursday, citing depressed demand for aircraft maintenance and litigation over its efforts to restructure its debt…
‘Totally Inadequate’: DeSantis Blasts McCarthy Over Budget Deal For ‘Careening Towards Bankruptcy’
‘Totally Inadequate’: DeSantis Blasts McCarthy Over Budget Deal For ‘Careening Towards Bankruptcy’ Harold Hutchison on May 29, 2023 Republican Gov. Ron DeSantis of Florida ripped House Speaker Kevin McCarthy on Monday over…
Telecom servicer QualTek enters bankruptcy to cut $307 million debt
By Dietrich Knauth (Reuters) – Telecommunications and power contractor QualTek Services Inc filed for bankruptcy on Wednesday, armed with a restructuring deal that could slash $307 million of the company’s $625 million…
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