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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.

Audacy, the radio and podcast giant, it filed plans for Chapter 11 bankruptcy protection to reduce its debt. The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion ... Audacy , the radio and podcast giant, said Sunday it filed plans for Chapter 11 bankruptcy protection in Texas to reduce its debt. The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion ... The Philadelphia-based company owns hundreds of radio stations and is one of the...

Bird, once valued at $2.5 billion by investors, filed for Chapter 11 bankruptcy protection in Florida federal court Wednesday. In a release, Bird said it will use the bankruptcy proceeding to facilitate a sale of its assets, which it expects to complete within the next 90 to 120 days. Bird’s electric scooters are touted as an environmentally friendly alternative to driving and other forms of public transit. ... Bird’s bankruptcy proceedings come after the New York Stock Exchange delisted the company in September. Bird failed to comply with the exchange’s requirements after it was unable to keep its market capitalization...

A Texas judge ruled that Infowars host Alex Jones cannot use bankruptcy protection to avoid paying Sandy Hook massacre victims' families more than $1.1 billion for his conspiracy theories that the 2012 shooting was a hoax. U.S. District Judge Christopher Lopez of Houston issued the ruling Thursday. "The families are pleased with the Court’s ruling that Jones’s malicious conduct will find no safe harbor in the bankruptcy court," said lawyer Christopher Mattei, who represents the families. "As a result, Jones will continue to be accountable for his actions into the future regardless of his claimed bankruptcy."

It's no secret that U.S. drugstore landscape has been consolidating at a jarring pace now that the pandemic has passed. Rite Aid (RAD) - has been reportedly toying with the possibility of filing Chapter 11 bankruptcy and liquidating many of its stores. It currently has some $3.3 billion in debt. The proposed deal would permanently shutter 400 to 500 of the chain's current 2,100 stores and hand them over to creditors or other interested buyers. With the the pandemic now firmly behind us and brick-and-mortar retail at a crawling recovery pace compared with more robust corners of the market, drugstores...

Biden’s massive spending spree (aka, Build Back Better) has a new name: Build Back Bankrupt! According to Epiq, Commercial Chapter 11 Filings Increased 68 Percent in the First Half of 2023. NEW YORK – July 03, 2023 — The 2,973 total commercial Chapter 11 bankruptcies filed during the first six months of 2023 represented a 68 percent increase over the 1,766 filed during the same period in 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Individual Chapter 13 filings increased by 23 percent during the same period. Overall commercial filings registered 12,107...

Bed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat. The Union, New Jersey-based home goods retailer filed for bankruptcy in a District of New Jersey court, listing both its estimated assets and liabilities in the range of $1 billion and $10 billion, according to a court filing. Bed Bath & Beyond said that it has received a commitment of approximately $240 million in debtor-in-possession financing from Sixth Street Specialty Lending Inc, according to a separate statement. The company added that its 360 Bed Bath...

Richard Branson’s Virgin Orbit Holdings (VORB.O) filed for Chapter 11 bankruptcy on Tuesday after the satellite launch company failed to secure the long-term funding needed to help it recover from a January rocket failure. The Long Beach, California-based company lodged the filing in the U.S. Bankruptcy Court for the District of Delaware seeking a sale of its assets after announcing the layoff of roughly 85% of its 750 employees last week. “At this stage, we believe that the Chapter 11 process represents the best path forward ... Virgin Orbit went public in 2021 through a blank-check deal, raising $255 million...

SVB Financial Group, the company whose former subsidiary Silicon Valley Bank was taken over by the Federal Deposit Insurance Corporation last week, filed a voluntary petition for a Chapter 11 bankruptcy protection in the Southern District of New York to preserve value for stakeholders.SVB Financial said it has approximately $2.2 billion of liquidity and cash and its interests in SVB Capital and SVB Securities. It also said it has "other valuable investment securities accounts and other assets for which it is also exploring strategic alternatives." The bankrupt entity listed assets and liabilities of up to $10 billion each.SVB Financial also...

LOS ANGELES – A Hawthorne man was sentenced today to 212 years in federal prison for intentionally driving his ex-wife and two disabled sons off a wharf at the Port of Los Angeles into the ocean – drowning the boys who were trapped in the car – to collect on accidental death insurance policies he had taken out on their lives. Ali F. Elmezayen, 45, was sentenced by United States District Judge John F. Walter, who, in imposing the maximum sentence allowed by law, noted Elmezayen’s “evil and diabolical scheme” as well as the “vicious and callous nature of...

Remington filed for Chapter 11 bankruptcy protection for the second time in July. That was after a failed attempt to sell the company to the Navajo Nation and despite the biggest gun-buying boom in the history of the world. Since then, the company has been trying to sell off its various brands and operating units. Today, the Wall Street Journal reports that . . . Firearms maker Remington Outdoor Co. has agreed to sell its ammunition business out of bankruptcy to South Carolina-based investment firm JJE Capital Holdings LLC for $65 million plus the assumption of liabilities, subject to better...

Menswear retailer Tailored Brands Inc. TLRD, -21.23%, the parent company of Men's Wearhouse and Jos. A. Banks, filed for Chapter 11 bankruptcy protection Sunday, the Wall Street Journal reported. The clothier has been hit hard by pandemic-related store shutdowns, reporting last month that first-quarter sales were down 60%. Since July 1, Tailored Brands has missed missed interest payments on bonds, slashed its corporate workforce by 20%, announced plans to close up to 500 stores and was notified that it will be delisted by the New York Stock Exchange. The company operated more than 1,400 stores in the U.S. and Canada as of Feb. 1, and employed more than 1,900 people. Earlier...

Briggs & Stratton Corp., billed as the world’s largest manufacturer of small gas engines, has filed for bankruptcy protection citing challenges due to the coronavirus pandemic, the company announced Monday. As part of the Chapter 11 filing, the Milwaukee-area company said Monday it has secured secured debtor-in-possession financing of $677.5 million from KPS Capital Partners LP, the private equity firm purchasing its assets, and its existing lenders to allow it to continue operating ahead of the closing of the deal. “Over the past several months, we have explored multiple options with our advisors to strengthen our financial position and flexibility,”...

Briggs & Stratton Corp. said Monday it has filed for chapter 11 bankruptcy protection and reached an agreement to sell most of its assets to KPS Capital Partners. The Milwaukee-based company, which makes gasoline engines for outdoor power equipment...

Chesapeake Energy Corporation said Sunday it had filed for bankruptcy amid a drop in oil and gas demand and prices due to the coronavirus pandemic. Chesapeake Energy said in a release it filed for Chapter 11 bankruptcy and will continue to operate throughout its restructuring process. The Oklahoma City-based company said it secured a $925 million debtor-in-possession financing from certain lenders under Chesapeake’s revolving credit facility, which will be available upon court approval. The company and certain lenders under its revolving credit facility also agreed to the principal terms of a $2.5 billion exit financing, consisting of a new $1.75...

Remington Arms, America’s oldest gun maker, is preparing to file for Chapter 11 bankruptcy protection and is in advanced talks for a potential sale to the Navajo Nation, The Wall Street Journal reported on Friday. Remington is making preparations for the Native American tribe to serve as the lead bidder to purchase its assets out of Chapter 11, the Journal reported here, citing people familiar with the matter. The report added that the filing could come with in days. Remington had previously filed for bankruptcy protection in March 2018.

Dive Brief: Six more contractors and designers have settled lawsuits for undisclosed amounts with victims' families and the survivors of the March 15, 2018, pedestrian bridge collapse at Florida International University (FIU) in Miami, the Miami Herald reported. Among the companies that settled is FIGG Bridge Group, which designed the pedestrian span. The other five companies are Bolton Perez & Associates; Corradino Group; A&P Consulting Transportation Engineers Corp.; RLT Engineering Services LLC; and Gerdau Ameristeel US Inc. There are more than 20 defendants being sued in civil lawsuits in Miami-Dade Circuit Court for their alleged roles in the collapse. The...

Sears Holdings filed for bankruptcy protection early Monday after years of staying afloat through financial maneuvering and relying on billions of CEO Eddie Lampert's own money. The company also announced that Lampert will be stepping down as CEO, effective immediately, although he remains its chairman. The 125-year-old retailer, once the nation's largest, said Monday it was appointing Mohsin Meghji, managing partner of M-III Partners, as its chief restructuring officer. As part of the bankruptcy, Sears will shutter 142 stores toward the end of the year. It expects to begin liquidation sales shortly. The bankruptcy filing comes more than a decade...

The bottom feeders at Gawker are going under. Arrivederci, a- -holes! News of the slime Web site’s bankruptcy filing is schadenfreude-licious for those of us who, like wrestler Hulk Hogan and Silicon Valley financier Peter Thiel, were victimized by these Internet thugs but didn’t have the resources to fight back in court.

Outdoor apparel giant Sports Authority has filed for Chapter 11 bankruptcy protection and the retail chain could close all or most of its 450 stores nationwide as it struggles to pay off a reported $1 billion debt. Sports Authority is “pursuing a sale of some or all of the business,” a company statement said. “We have received initial expressions of interest from a number of potential buyers, and we are optimistic about the results of the sale process.” Founded in 1928, the athletic apparel retailer was once the largest sporting goods chain in America. In the years after its 2006...