Ex-NFL star Antonio Brown files for bankruptcy, allegedly owes nearly $3 million to creditors, per report
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CBS Sports ^
| May 22, 2024 | Isabel Gonzalez
Brown claims his assets are worth just $50,000 or less, according to court documents Former NFL star wide receiver Antonio Brown has filed for bankruptcy. According
to the Times Union, Brown owes nearly $3 million to eight different creditors as stated by paperwork filed on May 15 in the U.S. Bankruptcy Court of the Southern District of Florida. He reportedly filed for Chapter 11 bankruptcy, which involves the court-supervised reorganization of a debtor's assets and liabilities. That amount includes a $1.2 million court judgment to Anton Tumanov -- a moving-truck driver who sued Brown for assault and battery during an...
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Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants
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Daily Voice ^
| 05/20/2024
Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants.In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The
filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as "temporarily closed" on its website will remain "open and operating as usual during the Chapter 11 process." Founded in 1968, Red Lobster...
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Red Lobster officially files for bankruptcy after being rinsed of cash by all you can eat shrimp deals
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UK Daily Mail ^
| May 20 2024 | ISABELLE STANLEY and ALICE WRIGHT FOR DAILYMAIL.COM and AP
Red Lobster has filed for Chapter 11 bankruptcy protection days after shuttering nearly 100 restaurants across America. The seafood chain, which has closed restaurants in 27 states, has been struggling with rising lease and labor costs in recent years and also promotions like its iconic all-you-can-eat shrimp deal that backfired. Demand
for one such recent promotion overwhelmed restaurants, reportedly contributing to hundreds of millions in losses.
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Red Lobster could file for bankruptcy this month following the closure of 50+ stores: WSJ
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business insider via msn ^
| 5/14/24 | (Hannah Getahun)
Restaurant chain Red Lobster could file for bankruptcy protection as early as next week, The Wall Street Journal reported on Tuesday. People familiar with the matter told the Journal that the company, overwhelmed with hundreds of millions in debt, plans to file a Chapter 11 bankruptcy petition in Orlando before Memorial Day.
Bloomberg previously reported in April that the restaurant company was considering filing for Chapter 11 bankruptcy protection.
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This Lawyer Sues Terrorists into Bankruptcy
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PragerU ^
| May 7, 2024 | Marissa Streit
Nitsana Darshan-Leitner is an international attorney and the founder of Shurat HaDin – Israeli Law Center. She has been leading the legal fight against terrorist organizations and state sponsors of terror in courts around the world. Nitsana
and PragerU CEO Marissa Streit discuss the unconventional strategy of bankrupting terrorism through the courts.
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Steward Health Care, operator of 8 Massachusetts hospitals, files Chapter 11 bankruptcy
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WCVB-TV5 ^
| May 6, 2024 | Phil Tenser & Matt Reed
Gov. Healey emphasizes that hospitals remain open during process BROOKLINE, Mass. — Steward Health Care, the troubled operator of eight hospitals in Massachusetts, filed for Chapter 11 bankruptcy protection early Monday. In a statement, the company said it was seeking the process voluntarily to facilitate a restructuring process. The
for-profit, private equity-backed hospital group's troubles exploded into view this year with the revelation that it owed about $50 million in unpaid rent. Steward officials subsequently closed one facility and have expressed interest in selling their other holdings. "I don't want to lose sight of the fact that this situation stems...
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Rue21 closing all stores in retailer's third bankruptcy
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Axios ^
| May 3, 2024 | Kelly Tyko , Nathan Bomey
Teen fashion retailer rue21 plans to close all of its 540 stores after filing for Chapter 11 bankruptcy for the third time Thursday. Why it matters: The move is the latest in a series of retailers closing all their locations, including The Body Shop and 99 Cents Only. Driving the news: In
court documents, rue21 said stores are "scheduled to close in the next 4 to 6 weeks." The company is also looking to sell its intellectual property. Flashback: The brand filed for Chapter 11 in 2017 and closed around 400 of its nearly 1,200 stores. It also filed for...
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Apparel retailer Express files for US bankruptcy protection, to close over 100 stores
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Reuters ^
| April 22, 2024
Fashion retailer Express filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to
a filing with the bankruptcy court in Delaware. ... As part of the bankruptcy process, the company will close approximately 95 Express retail stores and all of its UpWest stores, starting Tuesday, it said, without specifying the locations.
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Taco Bell rival files Chapter 11 bankruptcy; sells company
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TheStreet ^
| Apr 19, 2024 | Kirk O’Neil
Competition in the Tex-Mex and Mexican segments of the restaurant space has been fierce in recent years, led by fast-food chains Yum Brands' Taco Bell (YUM) and Chipotle (CMG) . Taco
Bell is king with about 7,936 locations in the U.S., according to data company ScrapeHero. Chipotle has a good size of the market with 3,398 units. Other major players include Qdoba with over 750 locations and Del Taco (TACO) with over 600. Certain Mexican casual restaurant chains have had financial difficulties trying to compete and needed to file for bankruptcy. Chevy's Fresh Mex, which had as many as 37...
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Report: Red Lobster preparing to file for bankruptcy
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local12.com ^
| Apr 17th 2024 | WKRC Staff
ORLANDO, Fla. (WKRC) — Seafood chain Red Lobster is reportedly preparing to file for bankruptcy. According
to Restaurant Business Online, citing a report from Bloomberg, the company is considering filing for Chapter 11 bankruptcy protection to restructure its debt. The outlet attributed those losses to less Americans choosing to eat out at restaurants and an increase in food and labor costs. Red Lobster closed 16 locations, per the outlet. Last summer, Red Lobster launched a $20 all-you-can-eat shrimp deal which, although popular with customers, ended up costing the company over $11 million in one quarter. Per the outlet, citing the...
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Red Lobster considering bankruptcy filing: report
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Fox News ^
| 4/16/2024 | Eric Revell
Red Lobster is reportedly considering filing for bankruptcy to relieve financial pressures that have weighed on the company. According
to a report by Bloomberg citing people familiar with the discussions, Red Lobster is weighing a Chapter 11 bankruptcy filing to renegotiate burdensome leases and address other long-term contracts as well as rising labor costs. The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing and that no final decisions have been made about a bankruptcy filing. By filing for Chapter 11 bankruptcy,...
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Catholic diocese in California files for bankruptcy over child abuse lawsuits
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Christian Post ^
| 04/05/2024 | Michael Gryboski
A Roman Catholic diocese based in California has announced that it is filing for bankruptcy due to the expenses related to numerous lawsuits centered on priest abuse. The
Diocese of Sacramento released a statement on Monday confirming that Bishop Jaime Soto had “filed for reorganization of the Diocese of Sacramento’s debts in U.S. Bankruptcy Court.” The filing comes as the diocese faced over 250 lawsuits related to sex abuse of minors by clergy and lay employees, stemming from incidents that go as far back as the 1950s. “This wave of new claims followed a 2019 law allowing victim-survivors to file...
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Dem Mayor Admits His City Is on Verge of Bankruptcy, No Money for Emergency Services
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The Daily Fetched ^
| 28 March 2024 | Jason Walsh
Houston’s Democratic mayor has admitted that his city, the fourth largest in the U.S., is in millions of dollars worth of debt and cannot afford to pay for firefighters. Mayor
John Whitmire, elected after defeating Democratic Rep. Sheila Jackson Lee last year, sounded the alarm about his city’s money woes in a meeting. As the city now faces a deficit of $160 million, Whitmireis proposes spending cuts and tax increases to tackle the massive damage done by his Democratic predecessors.
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‘Bidenomics:’ Another Major Retailer Files for Bankruptcy
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The Daily Fetched ^
| 18 March 2024 | Jason Walsh
Major fabric and craft retailer Joann announced it is filing for bankruptcy as Americans suffer the consequences of “Bidenomics” and pull back on “creature comforts” spending. According
to a recent announcement from Joann, the retailer reached an agreement with most of its financial stakeholders, giving it around $132 million in new financing while reducing its debt by around $505 million.
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Crafts retailer JOANN files for bankruptcy
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The Hill ^
| 03/18/2024 | JOSHUA HALLENBECK
(WJET/WFXP) — Crafts retailer JOANN filed for Chapter 11 bankruptcy early Monday morning. The
company, with over 800 stores nationwide, is best known for selling craft supplies, home decor and sewing supplies. The filing allows JOANN to continue to operate while it repays its debts, meaning no stores or online shopping is expected to be affected by the filing, according to a press release. Additionally, any obligations to employees, vendors, landlords and other trade creditors will be paid or otherwise satisfied in full. According to court documents, JOANN cited increasing interest rates and decreasing sales after a spike in sales...
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Diocese of Sacramento sets date to file bankruptcy
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KCRA ^
| March 17, 2024 | Lindsay Weber
The filing comes in the wake of lawsuits accusing clergy of sexual abuse
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ANOTHER ONE: EV Start-Up Fisker Exploring Bankruptcy
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Gateway Pundit ^
| Mar. 14, 2024 | Cristina Laila
Electric vehicle start-up Fisker is exploring bankruptcy, The Wall Street Journal reported this week. Fisker’s
stock plunged this week as investors worry about the company’s ability to survive amid a cash crunch. The auto company also said it would slash 15% of its workforce. The Wall Street Journal reported: Electric-vehicle startup Fisker FSR -55.88%decrease; red down pointing triangle has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk...
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The Man To Declare Bankruptcy:
Made for a complete restructuring and renunciation of debt
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/theamericansun.substack.com ^
| 3/5/2024 | HENRY DELACROIX
America won’t go bankrupt - well, it won’t officially go bankrupt. The
numbers look bad, and fiscal conservatives are hyperventilating, but the debt is in our own currency and is just a claim on future tax revenues. The Fed, the Treasury and everyone at the top of the monetary system can agree on a painful inflate the debt away process. America is technically in it right now. Inflation that feels like +10% is not happening by accident, and is helping all debtors right now. Buying a home right now is tough for new buyers, but everyone who purchased from 2009...
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Soros makes big move into Radio: Audacy Reorganization Plan Approved By US Bankruptcy Court
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Radio Ink ^
| Feb 21 2024 | Radio Ink
...The multi-million dollar payday will provide the troubled broadcaster with even more cash on hand after its equity interest in BMI sold brought in $25.4 million, following the music rights firm’s sale to New Mountain Capital. Soros Fund Management will become Audacy’s principal shareholder after acquiring over $414 million of Audacy’s senior
debt, surpassing other key investors. This stake constitutes about 40% of Audacy’s total senior debt....
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Tesla electric vehicle rival files bankruptcy, begins liquidation
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MSN ^
| 02/11/2024 | Daniel Kline
There's a reason very few new automakers have been launched over the past 40 or so years. Building
and selling cars takes a tremendous amount of infrastructure. When you add in having to create not just a new design, but a new method of powering your car, you see why big auto has generally been a closed club. Tesla (TSLA) , of course, has crashed that party, becoming the first startup electric vehicle manufacturer to operate at scale. You can credit that to the genius and drive of Elon Musk. It may have been lost in his recent conversion to...
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