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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Chapter 11

Chapter 11 stories: 38 news summaries

21 - 38 of 38 Stories | << Prev 1 2

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OPINION

 Satellite Radio Is Doomed 

Auto downturn looks likely to kill Sirius and the satellite radio biz

Feb 11, 09 2:40 AM CST
(Newser) - The country’s only satellite radio company is close to filing for bankruptcy, and columnist Mike Elgan is having an “I told you so” moment. Before Christmas Elgan predicted in ComputerWorld that Sirius XM wouldn’t survive the recession, given its shaky financial status—and the downturn now looks... More »

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radio • satellite radio • Sirius • bankruptcy • Chapter 11 • Sirius XM

(Newser) - Sirius XM is preparing to file for bankruptcy this week, the New York Times reports. The satellite radio company, which has more than $5 billion in assets and a stable of personalities such as Howard Stern, is working with financial advisers to prepare the Chapter 11 filing. The development could... More »

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satellite radio • bankruptcy • Dish Network • Chapter 11 • Sirius XM • Charles Ergen

 Lehman Collapse 
 Leaves Goats in the Lurch 

Goat-grazing biz among the herd of creditors burned by bankruptcy

Jan 24, 09 6:15 AM CST
(Newser) - Lehman's collapse has left creditors from Caribbean laborers to the world's biggest banks fighting for a share of what little cash remains, the Wall Street Journal reports. One California business that hires out goats to munch shrubs was shocked to learn that it may face ruin because of the bankruptcy... More »

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bankruptcy • lawsuit • Lehman Brothers • goats • Chapter 11 • creditor

 Minneapolis Newspaper 
 Files for Bankruptcy 

Star Tribune, overwhelmed by debt, plans to keep operating under reorganization

Jan 16, 09 2:44 PM CST
(Newser) - The Minneapolis Star Tribune has filed for bankruptcy protection after missing payments to creditors, the paper reports. Like most other 3-D news outlets, the 15th-largest daily in the country has seen a steep decline in advertising revenue. The Chapter 11 filing shows assets of $493.2 million and debt... More »

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newspaper • bankruptcy • debt • Minnesota • circulation • Chapter 11 • Minneapolis Star-Tribune • St. Paul Pioneer Press

 A Rash of Retailers 
 About to Go Bankrupt 

Debt, trimmed consumer spending push retailers to brink

Jan 12, 09 8:36 AM CST
(Newser) - Look for a wave of retailers going bankrupt in the months ahead, reports the Wall Street Journal, as dismal holiday sales take their toll on a business sector that's weak from expanding too fast and taking on too much debt. Lenders who traditionally have supported the segment are pulling... More »

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bankruptcy • Circuit City • Chapter 11 • retailers • Claire's Stores

 Tribune Company 
 Files for Bankruptcy 

Financing billions in debt becomes too onerous in down economy

Dec 8, 08 2:09 PM CST
(Newser) - The Tribune Company filed today for Chapter 11 bankruptcy protection, due to mounting debt and an inability to pay interest in the floundering economy, the Wall Street Journal reports. Tribune’s profits declined 83% in the third quarter, making it difficult to finance $12 billion in debt. The company has... More »

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Sam Zell • Tribune Company • bankruptcy • leveraged buyouts • debt • Los Angeles Times • Baltimore Sun • Chapter 11 • Chicago Tribune • financial crisis

 Chrysler Hires Bankruptcy Firm 

Privately owned automaker preparing for Chapter 11 should feds not help out

Dec 5, 08 3:00 PM CST
(Newser) - Chrysler has contracted a law firm to help it prepare for bankruptcy, the Wall Street Journal reports. The hiring of Jones Day suggests the automaker faces immediate failure if Congress decides to deny financial assistance to Detroit automakers. Jones Day has experience in automotive matters and has represented the United... More »

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Chrysler • United Auto Workers • bankruptcy • General Motors • merger • Robert Nardelli • auto industry • Big Three • Chapter 11 • law firm • financial crisis • Jones Day


 Vick's 
 Finances 
 Have Gone 
 to the Dogs 

Bankruptcy filing reveals former highest-paid NFL star's financial mess

Nov 22, 08 10:45 AM CST
(Newser) - Michael Vick is millions of dollars in debt, with his main hope of solvency hinging on the uncertain prospect of returning to the NFL, the AP reports. The former QB's bankruptcy filing puts his assets at $16 million but his debts at $20.4 million. Friends and family drive around... More »

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Michael Vick • bankruptcy • dogfighting • Chapter 11

OPINION

 Save GM With 
 Guided Bankruptcy 

Let's make this a Chapter 11 affair, not a Chapter 7

Nov 18, 08 8:07 AM CST
(Newser) - GM is claiming all it needs is a “bridge loan,” but the automaker is losing money so fast that bridge would be burned by February, writes Andrew Ross Sorkin in the New York Times. What GM really needs is bankruptcy—but one guided by the government.... More »

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bankruptcy • General Motors • auto industry • Chapter 11

Circuit City Files for Bankruptcy

Dropping consumer spending, tightening credit hurt the electronics giant

Nov 10, 08 8:21 AM CST
(AP) - Circuit City Stores has filed for bankruptcy protection today, about a week after it said it would close 20% of its stores. The electronics retailer, based in Richmond, Va., has struggled as nervous consumers spend less and credit tightens. More »

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bankruptcy • consumer electronics • Circuit City • Chapter 11 • financial crisis

Bankrupt Mervyn's Goes Belly Up

All of chain's 149 stores to be liquidated before end of year

Oct 18, 08 6:39 AM CDT
(Newser) - Mervyn's will be closing all of its 149 stores before the end of the year and holding huge going-out-of business sales, the Bay Area's Daily Review reports. The California-based department store chain filed for bankruptcy in July and had been fruitlessly scrambling for a sale or a deal with landlords... More »

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retail • bankruptcy • retail stores • department stores • Chapter 11

Boscov's Files for Chapter 11

Reading, Pa.-based department store
chain to shutter
10 of 49 locations

Aug 4, 08 2:18 PM CDT
(AP) - The troubled department store chain Boscov's filed for Chapter 11 bankruptcy protection today, becoming the latest victim of the harsh consumer spending environment. The Reading, Pa.-based chain said it will close 10 of its 49 stores, citing sluggish consumer spending and credit issues—and acknowledging that some of its... More »

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bankruptcy • Pennsylvania • department stores • Chapter 11 • Boscov's

 Steve & Barry's
 Heads to
 Chapter 11 

Deep-discount fashion retailer can't find rescue funding

Jul 9, 08 7:51 AM CDT
(Newser) - Dress-down discount clothing retailer Steve & Barry’s, which launched its first store nearly a quarter-century ago, could file for Chapter 11 bankruptcy protection as early as today after a fruitless search for rescue financing, reports the Wall Street Journal. The trendy retailer could close all of its 275 outlets,... More »

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fashion • Sarah Jessica Parker • retailing • Chapter 11 • retail businesses • Steve & Barry's

 Bankrupt, Linens 'n Things
 Will Fold 120 Stores 

Retailer files for Chapter 11 as consumer spending falls

May 2, 08 5:45 PM CDT
(Newser) - Linens 'n Things filed for bankruptcy protection today, MarketWatch reports, and plans to close 120 stores nationwide as other operations continue. "The significant deterioration in the mortgage, housing and credit markets and the resulting impact on the retail marketplace, particularly the home sector, has overwhelmed the operating and merchandising... More »

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retail • layoffs • bankruptcy • economics • consumer spending • Chapter 11 • Linens 'n Things

London-NYC Exec Airline Eos Files Chapter 11 

High costs, sagging economy put end to another business class carrier

Apr 28, 08 6:06 AM CDT
(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... More »

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bankruptcy • airline industry • Chapter 11 • Eos • Maxjet • Sliverjet

Linens 'n
Things to
Go Bust

Home-furnishings giant may be first retail victim of market crisis

Apr 11, 08 6:50 AM CDT
(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... More »

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

Frontier Airlines Latest Carrier to File for Bankruptcy

Discount airline says it will continue flying as it reorganizes

Apr 11, 08 6:25 AM CDT
(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... More »

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

Gift Cards Not Looking So Sharp

Bankrupt retailer isn't honoring $25M in gift cards

Mar 4, 08 11:00 AM CST
(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... More »

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bankruptcy • US economy • retailing • gift card • Sharper Image • Chapter 11 • Brookstone • Leverage

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