bankruptcy

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Byron Allen Takes Control of BuzzFeed in 'Fire Sale'

Media entrepreneur's $120M deal averts possible BuzzFeed bankruptcy

(Newser) - BuzzFeed just got a dramatic new chapter: Byron Allen is stepping in as controlling shareholder and CEO of the onetime digital-media star, in a deal that effectively rescues it from the brink, Axios reports. The media entrepreneur's family office, Allen Family Digital, will buy 40 million shares at $3...

After 34 Years, Spirit Airlines Is No More

Budget carrier announces it's shuttering, 'effective immediately'

(Newser) - Spirit Airlines, an impish upstart that shook the industry with its irreverent ads and deep discount fares, announced Saturday that it has gone out of business after 34 years. The ultra-low-cost airline that once operated hundreds of daily flights on its bright yellow planes said it had "started an...

It Turns Customers Into 'Demons.' Red Lobster Just Brought It Back

Chain revives popular 'Endless Shrimp' promotion, but with higher prices and more restrictions

(Newser) - Red Lobster is again betting on bottomless crustaceans, just not quite as bottomless as before. After bankruptcy, then a restructuring, the chain now is reviving its "Endless Shrimp" deal for the first time since the 2024 collapse that executives say was worsened by making the promo a too-cheap fixture,...

A Movie Lover Argues Alamo Drafthouse Lost the Plot
A Movie Lover Argues
Alamo Drafthouse Blew It
OPINION
Apr 19, 2026 3:55 PM CDT

A Movie Lover Argues Alamo Drafthouse Blew It

Sony-owned chain forces people onto phones despite once-strict ban, writes David Ehrlich

(Newser) - Alamo Drafthouse built its reputation on being the place that would toss you for touching your phone during a movie. David Ehrlich argues in IndieWire that in 2026, it's now requiring you to pull that phone out nonstop. In an excerpt from his "In Review" newsletter, the site'...

The Rise and Costly Fall of a Luxury Watch Dealer

New York Times explores the case of Dominic Khoo, now facing fraud charges

(Newser) - He was once a self-made giant in the world of luxury watches. Today, Singapore's Dominic Khoo is bankrupt and under investigation for fraud. In a New York Times investigation, Sui-Lee Wee details how the celebrity photographer-turned-watch dealer built the WatchFund into what he described as a $38 million operation,...

Buzzfeed Warns It May Not Be Around Much Longer

Debt burden, cash shortfall force talks on strategic lifeline for media company

(Newser) - BuzzFeed, once a defining name in viral internet culture, is warning investors it may not be able to survive. In its latest earnings report, the digital media company said there's "substantial doubt" about its ability to continue operating, citing ongoing liquidity problems and a lack of resources to...

Luxury Department Giant Is Shuttering More Stores

Saks Global, parent company of Saks and Neiman Marcus, to close more locations amid bankruptcy

(Newser) - The parent company of Saks Fifth Avenue and Neiman Marcus is closing more department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring. Saks Global Inc. said on Friday that it will close 12 more Saks Fifth Avenue stores and three...

Eddie Bauer Files Chapter 11
Eddie Bauer Files Chapter 11
Feb 9, 2026 8:25 AM CST

Eddie Bauer Files Chapter 11

The 106-year-old label pioneered outdoor sportswear

(Newser) - The operator of roughly 180 Eddie Bauer stores across the US and Canada has filed for Chapter 11 bankruptcy protection. Eddie Bauer LLC said Monday it had entered into a restructuring pact with its secured lenders as it made the filing in the US Bankruptcy Court for the District of...

Saks Global Files for Bankruptcy
Saks Global
Files for Bankruptcy
Jan 14, 2026 5:31 AM CST

Saks Global Files for Bankruptcy

Company says it will keep paying suppliers and employees amid declining luxury goods sales

(Newser) - Luxury retailer Saks Global has filed for bankruptcy, preparing to reposition itself in the increasingly competitive upscale market after obtaining about $1.75 billion in financing commitments. The New York-based private company that owns retailers Saks Fifth Avenue and Neiman Marcus said in a release Wednesday that it had filed...

Port-a-Potty Giant Files for $2.4B Bankruptcy

United Site Services' restructuring would shift ownership to lenders via Chapter 11

(Newser) - A heavyweight in the portable-toilet business is looking to get rid of a very large load of debt. United Site Services, which says it's the biggest provider of portable sanitation systems in the US, filed for Chapter 11 protection in New Jersey on Monday, with a plan to erase...

Auto Lender Execs Accused of 'Systematic' Fraud

Tricolor Holdings was one of the 'cockroaches' Jamie Dimon warned about

(Newser) - A car lender that collapsed in September is now at the center of a criminal case. Federal prosecutors in Manhattan have charged Daniel Chu, founder and CEO of Tricolor Holdings, and chief operating officer David Goodgame with running what they call a multiyear, "systematic" fraud that helped the now-bankrupt...

Roomba Maker Files for Bankruptcy
Roomba Maker
Goes Belly Up
Dec 15, 2025 7:56 AM CST

Roomba Maker Goes Belly Up

IRobot files for bankruptcy, says restructuring aims to keep vacuums online, supported

(Newser) - Roomba maker iRobot is assuring customers their autonomous vacuums will keep working as normal after the company filed for bankruptcy Sunday. The Massachusetts company filed for Chapter 11 bankruptcy in Delaware after years of financial strain driven by lower-cost rivals abroad, some of which customers now see as more advanced....

Travelers Booted From Rooms as Rental Startup Goes Belly Up

Guests evicted with little notice after Sonder's Marriott deal collapses

(Newser) - Travelers found themselves hustled out of their hotel rooms and other accommodations with very little notice after Sonder, a short-term rental company once touted as an Airbnb rival, abruptly shut down operations in a surprise bankruptcy Sunday. The company, which managed 9,000 furnished apartments and boutique hotel rooms in...

Candy Company Has Bad News Ahead of Halloween

Texas distributor CandyWarehouse.com seeks Chapter 11 bankruptcy protection as debt piles up

(Newser) - Just days before Halloween, when candy sales typically peak, CandyWarehouse.com has filed for Chapter 11 bankruptcy protection. The Texas-based distributor, known for its wide array of bulk and novelty candies, is seeking to reorganize its finances after a significant revenue dip earlier this year made it difficult to keep...

Alex Jones Asks SCOTUS to Halt $1.5B Sandy Hook Ruling
Supreme Court
to Alex Jones: Nope
UPDATED
Oct 14, 2025 11:10 AM CDT

Supreme Court to Alex Jones: Nope

SCOTUS declines his bid to save Infowars from the Onion without comment

(Newser) - Alex Jones' appeal to the highest court in the land didn't get far: As NBC News reports, the Supreme Court on Tuesday dismissed the Infowars founder's appeal to block a $1.5 billion defamation judgment against him, clearing the way for the sale of his site to the...

Seaquarium Hosts Last Visitors After Years of Accusations

Federal, local agencies had cited mistreatment, neglect at Miami attraction

(Newser) - After seven decades as a Miami institution, the Seaquarium closed its gates for good on Sunday, drawing crowds keen to relive childhood memories—and perhaps catch one last glimpse of its famous penguins. Visitors watched Daisy, Blueberry, and Tinker waddle outside as nostalgia mixed with farewells. For many, like...

Johnson & Johnson Ordered to Pay $966M to Woman's Family

Case centered on asbestos claims tied to use of talcum baby powder

(Newser) - A jury in Los Angeles has ordered Johnson & Johnson to pay $966 million to the family of Mae Moore, a California woman who died in 2021 at the age of 88 after developing mesothelioma, a rare cancer. The lawsuit alleged that Moore's long-term use of Johnson &...

Rite Aid Closes Last 89 Stores
Rite Aid Is Officially Kaput
Oct 6, 2025 12:56 PM CDT

Rite Aid Is Officially Kaput

Chain closes its last 89 stores

(Newser) - Rite Aid, once a giant in the pharmacy world, has closed its doors for good after years of financial turmoil. The company, founded 63 years ago, pulled the plug on its last 89 stores last week, CNN reports. The move comes months after its second bankruptcy filing in less...

Spirit Airlines to Furlough One-Third of Flight Attendants

Move during bankruptcy will affect 1.8K employees

(Newser) - Spirit Airlines said Monday it plans to furlough about 1,800 flight attendants, representing about one-third of its cabin crew, as the airline seeks to reduce expenses during its second bankruptcy in less than a year. Chief Operating Officer John Bendoraitis outlined the decision in a memo to staff,...

Publishers Clearing House Winners Get a Rude Awakening
Publishers Clearing House
Winners Get a Rude Awakening
IN CASE YOU MISSED IT
Sep 20, 2025 6:00 AM CDT

Publishers Clearing House Winners Get a Rude Awakening

Former 'forever' winners' payments end now

(Newser) - After decades of giant checks, Publishers Clearing House has filed for bankruptcy—and abruptly ended lifetime payouts for its "forever" sweepstakes winners. ARB Interactive, a Miami-based mobile gaming firm that recently acquired PCH's assets, announced it will not be responsible for payouts to winners who claimed their...

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