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October 11, 2008 4:36:25 AM CDT

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Stories related to: bankruptcy

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Stories 21 - 40 of 49

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  • April 2008

    • London-NYC Exec Airline Eos Files Chapter 11

      Times (UK)  |  Apr 28, 08 6:06 AM CDT

      London-NYC Exec Airline Eos Files Chapter 11

      (Newser) - Business-class only Eos, struggling with rising fuel prices and unable to land a $50 million cash infusion to keep it aloft, filed for Chapter 11 bankruptcy protection last night, reports the Times of London. The airline, which offered business travelers cheap, high-quality flights between London and New York, follows fellow premium carrier Maxjet into bankruptcy. More »

      Tags

      airline industry  • bankruptcy  • Chapter 11

    • Retailers Checking Out as Economy Falters

      New York Times  |  Apr 15, 08 8:00 AM CDT

      Retailers Checking Out as Economy Falters

      (Newser) - Stores across the country are closing their doors, the New York Times reports, victims of a downturn in consumer spending. Retailers are often heavily leveraged, and as the economy falters banks are tightening credit. Several chains, including Sharper Image, have declared bankruptcy; others like Footlocker, Ann Taylor, and Zales are closing stores to stay afloat. “You have the makings of a wave of significant bankruptcies,” said a former Kmart executive. More »

      Tags

      recession  • economy  • bankruptcy  • consumer spending  • retail  • retail stores  • Sharper Image  • Linens 'n Things  • Ann Taylor

    • Linens 'n Things to Go Bust

      Wall Street Journal  |  Apr 11, 08 6:50 AM CDT

      Linens 'n Things to Go Bust

      (Newser) - Linens ‘n Things ls expected to file for Chapter 11 by Tuesday, the deadline for a $15-million quarterly debt payment, the Wall Street Journal reports. The move would make the home-furnishings giant the first major retailer sunk by the housing crisis, after bloated debt and plummeting demand handed the New Jersey company $242 million in losses last year. More »

      Tags

      retail sales  • bankruptcy  • retail  • retail stores  • Chapter 11  • Linens 'n Things

    • Frontier Airlines Latest Carrier to File for Bankruptcy

      Wall Street Journal  |  Apr 11, 08 6:25 AM CDT

      Frontier Airlines Latest Carrier to File for Bankruptcy

      (Newser) - Discount carrier Frontier Airlines today said it was filing for Chapter 11 but would keep flying thorough its reorganization, the Wall Street Journal reports. The carrier made the move after its credit-card processing company decided to withhold a larger share of ticket revenues from Frontier. Aloha and ATA also declared bankruptcy this month; both discontinued operations. Frontier reported a $18.7-million loss in 2007. More »

      Tags

      bankruptcy  • Aloha Airlines  • ATA  • Chapter 11  • Frontier Airlines

    • Thousands Stuck as Asian Budget Airline Folds

      New York Times  |  Apr 9, 08 8:00 AM CDT

      Thousands Stuck as Asian Budget Airline Folds

      (Newser) - Thousands of passengers have been stranded in Hong Kong, London, and Vancouver with the collapse of Asian budget airline Oasis, the New York Times reports. In a sign that the industry's woes are spreading rapidly, the Hong Kong-based airline joins three US budget carriers to have gone under this month in the face of soaring fuel prices and economic jitters. More »

      Tags

      gas prices  • airline industry  • airline  • bankruptcy  • Hong Kong  • airline passengers  • Aloha Airlines  • ATA  • Skybus  • stranded passengers  • budget airlines  • Oasis

    • WR Grace Makes Deal to Settle Asbestos Claims

      Baltimore Sun  |  Apr 8, 08 1:21 PM CDT

      WR Grace Makes Deal to Settle Asbestos Claims

      (Newser) - Chemical company WR Grace cleared a major hurdle in its 7-year effort to emerge from bankruptcy yesterday, agreeing to pay more than $3 billion to settle asbestos-related personal injury lawsuits, reports the Baltimore Sun . The deal, which a bankruptcy judge must approve, would establish a trust fund to settle current and future lawsuits. "In the final analysis, nothing will really compensate for people who lose their husbands or wives," said a lawyer for the claimants. More »

      Tags

      cancer  • bankruptcy  • civil lawsuits  • class action  • asbestos

    • Skybus Airlines Goes Bust

      Columbus Dispatch  |  Apr 5, 08 5:37 AM CDT

      Skybus Airlines Goes Bust

      (Newser) - Anybody who wondered how Skybus could make money with its famous $10 airfares can stop: they didn't. The Ohio-based airline has become the latest US carrier to go bankrupt in the face of soaring fuel costs and a sluggish economy, the Columbus Dispatch reports. It made its last flight yesterday and passengers boarding planes were warned their return tickets had suddenly become one-way. More »

      Tags

      gas prices  • airline industry  • airline  • bankruptcy  • Aloha Airlines  • ATA  • Columbus  • Skybus

    • ATA Goes Bankrupt, Cancels All Flights

      WTHR Eye Witness News Indianapolis  |  Apr 3, 08 7:57 AM CDT

      ATA Goes Bankrupt, Cancels All Flights

      (Newser) - Passengers booked on ATA Airlines flights got a rude awakening this morning: The low-cost carrier declared bankruptcy in the middle of the night, shut down operations, and canceled all further flights, Eyewitness News reports. “Unfortunately, we were not in a position to provide our customers or others with advance notice,” the company said in a statement. More »

      Tags

      airline industry  • airline  • bankruptcy  • flight cancellation  • ATA

  • March 2008

    • Aloha Airlines Shuts Down

      Honolulu Advertiser  |  Mar 31, 08 7:11 AM CDT

      Aloha Airlines Shuts Down

      (Newser) - Unable to find a buyer and running out of cash, Hawaii’s ubiquitous Aloha Airlines is shutting down operations after today, idling 1,900 workers and ending more than six decades of island-hopping and transpacific flights, the Honolulu Advertiser reports. The airline filed for bankruptcy March 20 because of rising fuel prices and fierce competition from startup go! airlines. More »

      Tags

      gas prices  • airline industry  • bankruptcy  • United Airlines  • Aloha Airlines

    • Bankrupt Lender's Audit Lapses 'Mind Boggling'

      New York Times  |  Mar 27, 08 8:23 AM CDT

      Bankrupt Lender's Audit Lapses 'Mind Boggling'

      (Newser) - Auditors at now-bankrupt New Century Financial—once one of the nation’s largest subprime lenders and one of the earliest to fail—were accused of “mind boggling” lapses in a Justice Department report on the debacle released yesterday. Partners at accounting firm KPMG are said to have ignored “significant improper and imprudent practices” in order to keep the company’s business, the New York Times reports. More »

      Tags

      credit crisis  • subprime crisis  • bankruptcy  • Justice Department  • Enron  • Arthur Anderson

    • Mortgage Meltdown Hits Small Builders

      Wall Street Journal  |  Mar 21, 08 3:00 AM CDT

      Mortgage Meltdown Hits Small Builders

      (Newser) - The housing market collapse that's sending homeowners into foreclosure is starting to hit small- and medium-size builders left with developments they're unable to sell, the Wall Street Journal reports. Buyers are canceling contracts and builders are missing mortgage payments on often highly leveraged projects. Small regional banks, in turn, could be the next victims. More »

      Tags

      housing market  • subprime crisis  • foreclosure  • mortgage crisis  • mortgage  • bankruptcy  • banking  • construction  • small businesses  • homebuilders  • residential building

    • Gift Cards Not Looking So Sharp

      MarketWatch  |  Mar 4, 08 11:00 AM CST

      Gift Cards Not Looking So Sharp

      (Newser) - Consumers holding Sharper Image gift cards are out a collective $25 million after the gadget retailer stopped honoring the cards when it filed for bankruptcy in February, MarketWatch reports. With the shaky economy likely to produce more bankruptcies over the next year or two, consumers would be wise to redeem other cards they may be hoarding. More »

      Tags

      US economy  • bankruptcy  • retailing  • Chapter 11  • Sharper Image  • gift cards