liquidation

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Sears Corp. Is Closing 63 Stores

The 'holiday blowout' has started early

(Newser) - Sears Holdings Corp. says it will be closing another 63 stores as the ailing retailer tries to turn around its business. The Illinois-based company, struggling to keep up with its rivals, said it will shutter 45 Kmart stores and 18 Sears stores in late January, the AP reports. Liquidation sales... More »

Jawbone Is Latest 'Death by Overfunding'

Too much venture capital may have been responsible for company's demise

(Newser) - With $41 billion pumped into startups by venture capitalists last year alone, some experts argue that big-money failures are "inevitable." But Jawbone's recent collapse is so monumental that only the Solyndra bankruptcy of 2011 tops it, reports Reuters . And some argue that all the money pumped into... More »

Hostess to Dole Out Up to $1.75M in Exec Bonuses

Says incentive pay will help it retain necessary personnel

(Newser) - Hostess executives are in for a sweet finish: A federal bankruptcy judge yesterday gave the company the OK to hand out as much as $1.75 million in bonuses to 19 corporate officers and high-level managers. The bonuses are intended to serve as a carrot to keep these employees with... More »

Buyer-Less Borders Will Liquidate

Move will put almost 11K employees out of work

(Newser) - There will be no storybook ending for Borders. The 40-year old bookseller could start liquidating its 399 remaining stores as early as Friday. The chain, which helped pioneer the big-box bookseller concept, is seeking court approval to liquidate its stores after it failed to receive any bids that would keep... More »

Ansel Adams' Family Sues Museum Over Prints

Fresno Met trying to sell prints to pay off debt

(Newser) - Ansel Adams’ family is suing the bankrupt Fresno Metropolitan Museum over its attempts to auction off six prints the photographer donated before he died. The museum closed in January and is now furiously trying to sell off artwork to pay off its estimated $4 million in debt. But Adams' relatives... More »

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