Free Republic

Gradually, then suddenly, is how bankruptcies often play out, as in “The ultra-low-cost carrier [Spirit Airlines] has struggled for years and filed for bankruptcy twice since 2024,” and now, “Spirit Passengers Rush to Find New Flights.”AdvertisementElizabeth Warren was quick to respond: “Donald Trump’s war with Iran caused the sky-high fuel prices that finally did Spirit Airlines in.” Got it, Senator.In July, 2022, the shareholders of Spirit Airlines had agreed to be acquired by Jet Blue:AdvertisementJetBlue will pay $33.50 per share, which is an equity value of $3.8 billion. The merger would give JetBlue 9% of the market, according to a...

Spirit Airlines is preparing to cease operations after a last-ditch rescue effort reportedly collapsed, leaving the struggling budget carrier on the brink of collapse. The ailing airline had been hoping to secure a $500 million lifeline from the government to keep it afloat, but talks have failed to produce a deal. People familiar with the matter told the Wall Street Journal that Spirit has been unable to win sufficient backing from key bondholders and government officials, raising serious doubts over its ability to continue operating. Discussions had taken place with the Trump administration over a potential bailout package that would...

The Trump administration is in advanced talks for a financing package for Spirit Airlines as the carrier is facing the risk of a liquidation, according to a person familiar with the matter. The iconic discounter Spirit has been challenged for years by rising costs, changing consumer tastes, an engine recall and a court-blocked plan to be acquired by JetBlue Airways two years ago. “Spirit Airlines would be on a much firmer financial footing had the Biden administration not recklessly blocked the airline’s merger with JetBlue,” White House spokesman Kush Desai said in a statement to CNBC. “The Trump administration continues...

The parent company behind well-known shopping channels QVC and HSN has filed for Chapter 11 bankruptcy. QVC Group, which filed in the U.S. Bankruptcy Court for the Southern District of Texas, announced the filing in a press release Thursday, saying the company will undergo a restructuring support agreement (RSA) to reduce its debt from $6.6 billion to $1.3 billion. The goal of the RSA is to emerge from bankruptcy within 90 days. "The company has ample liquidity to support the business and, importantly, the terms of the RSA provide for vendors, suppliers and all other general unsecured creditors of the...

Spirit Airlines could dissolve as soon as today and leave passengers who have already booked tickets stranded at airports around the country. The carrier filed for bankruptcy twice between November 2024 and August 2025, and it currently remains under Chapter 11 protection. Spirit was able to survive based on the assumption that jet fuel prices would remain stable and that it would be able to maintain its passenger capacity at 80 percent, hoping to exit restructuring in early summer. But since the war with Iran, jet fuel prices have nearly doubled in large cities such as New York, Houston, Chicago...

I’m old enough to remember when Al Gore coined the term “lockbox” as a euphemism for how he was going to protect the Social Security surplus. The year was 2000, and Gore was the incumbent Vice President, campaigning for the presidency. His administration had just recorded a budget surplus of $236 billion, the largest in American history still to this day. More than two-thirds of the surplus, or $160 billion, was created by the revenue from Social Security taxes exceeding payments to Social Security recipients. Vice President Gore wanted to save that Social Security surplus for the future, while his...

Former President Joe Biden's son Hunter is being sued by the mother (Lunden Roberts) of his out-of-wedlock daughter (Navy, now 7 years old) for failing to pay court-ordered child support or honoring the other promises he made to his daughter. "Immediately after the court ruling two years ago Hunter and Navy shared some bonding through scheduled phone calls," Lunden said. "Suddenly and without warning or explanation, Hunter ghosted Navy, and caused her to experience emotional trauma when she realized that her dad would not walk her down the aisle or dance with her at her own wedding reception." Lawyers for...

Authentic Brands Group, which owns the brand’s intellectual property, last month shifted its e-commerce and wholesale licenses to another company. The fate of Eddie Bauer’s brick-and-mortar fleet is uncertain as its operating company prepares to file for bankruptcy. There are more than 250 Eddie Bauer locations in North America. In January Eddie Bauer IP owner Authentic said that Catalyst Brands — responsible for the operations of several brands in Authentic’s stable — would continue to operate those retail and outlet stores. But Catalyst is readying a bankruptcy filing for the entity that runs Eddie Bauer’s locations, according to a source...

Deep in mid-winter blues and suffering through never-ending images of shrieking Karens, their soy-boys and the judges and elected officials obstructing the deportation of rapists, fraudsters, and run-of-the-mill 75 IQ illegals, I thought we could use a pick-me-up, a bit of cheerful news. Well, I've got it. The UN is facing bankruptcy. UN operations may cease by the end of February, and the last flabby, underworked UN bureaucrat could receive a final check, assuming it doesn't bounce, in July.The United Nations said on Friday that it was facing imminent financial collapse and would run out of money by July if...

A Popeyes Louisiana Kitchen franchisee that operates more than 130 locations filed for bankruptcy to rightsize itself after facing mounting debt. Sailormen Inc., a Miami-based franchisee that operates locations in Florida and Georgia, filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida, according to its legal counsel. The company, represented by Cole Schotz, is attempting to renegotiate or resolve the $129 million that it owes to lenders so it can emerge as a healthier franchisee. The company blamed "various macroeconomic factors" for disrupting the business and forcing it to file for bankruptcy protection. "Those...

Amazon wants a federal judge to reject Saks Global’s bankruptcy financing plan, writing in court papers the beleaguered department store “burned through hundreds of millions of dollars in less than a year” and failed to hold up their agreement. When Saks acquired Neiman Marcus for $2.7 billion in December 2024, Amazon invested $475 million into the venture on the grounds the retailer would start selling its products on Amazon’s website and the tech company would offer technology and logistics expertise. “That equity investment is now presumptively worthless,” Amazon’s attorneys wrote in a Wednesday filing, hours after Saks filed for Chapter...

New York City Mayor Zohran Mamdani's push to stop the bankruptcy sale of more than 5,000 rent-subsidized apartments in the city has been blocked, temporarily, by the federal courts. Mamdani, who was sworn into office last week, directed the city’s Law Department shortly after taking over City Hall to intervene in the bankruptcy proceedings of more than 90 buildings with apartments all owned by Pinnacle, a real estate group. The Mamdani administration says the company owes the city $12.7 million in unpaid fines for housing code violations. The company declared bankruptcy in May after defaulting on more than $560 million...

In 2026, debt is no longer just a personal finance issue—it’s a defining force shaping household stability, career choices, and even mental health. After years of economic uncertainty, fluctuating interest rates, and the normalization of “buy now, pay later,” many people have grown accustomed to carrying debt as a permanent feature of life. You can even finance Taco Bell. But that acceptance comes at a cost. Paying off debt in 2026 isn’t about perfection or deprivation; it’s about reclaiming freedom in a world that increasingly profits from keeping people financially stretched. Debt comes in all shapes and sizes. Medical debt,...

Zohran Mamdani used his first day in office Thursday to hit the ground running with new executive orders targeting city landlords and housing development. And he said the city will take what he called "precedent-setting action" to intervene in a private landlord bankruptcy case he said was tied to 93 buildings. "It is inauguration day. It is also the day that the rent is due." Speaking at a Brooklyn apartment building, Mamdani framed the moves as an early test of whether city government will directly confront landlords over housing conditions and step into court cases that could determine whether tenants...

Saks Global Enterprises, the parent company of luxury department store chain Saks Fifth Avenue, is considering a potential Chapter 11 bankruptcy filing as a last-resort option to address mounting liquidity constraints and near-term debt obligations, according to a Bloomberg report. The publication reported that Saks is evaluating bankruptcy as part of a broader effort to manage its balance sheet rather than as an imminent filing. The company faces a debt payment of more than $100 million due by the end of December, limiting its financial flexibility. According to the report, which cited people with knowledge of the matter, Saks has...

iRobot, the maker of the Roomba vacuum cleaner, filed for bankruptcy protection on Sunday, saying that it would go private after being bought by Picea Robotics, its primary manufacturer.The company, which raised concerns about staying in business in March, filed for Chapter 11 protection in Delaware bankruptcy court as it grapples with increased competition from lower-priced rivals and new U.S. tariffs. iRobot generated about $682 million in total revenue in 2024, but its profits have been eroded by competition from Chinese rivals like Ecovacs Robotics. iRobot remains dominant in key markets like the U.S. and Japan, but competition forced it...

"Hansen-Mueller Co., a major Nebraska grain dealer operating nine elevators and four port terminals across the Midwest, filed for Chapter 11 bankruptcy on November 17, 2025, leaving farmers, cooperatives, and agribusinesses across 34 states facing unpaid claims totaling millions of dollars. CEO Josh Hansen stated the court-supervised process would facilitate "an orderly sale of our assets for the benefit of our creditors, employees, and all stakeholders." The filing exposed vulnerabilities in rural supply chains and raised urgent questions about recovery prospects for thousands of Creditors." (Full story at link)

Here’s the bottom line: America’s farmers need help — now. In my home state of Arkansas, for instance, our farmers are set to lose hundreds of dollars per acre on their soybean, corn, cotton and long-grain rice crops this year alone. The situation has gotten so bad that Arkansas cash crop receipts are now projected to fall by $617 million in 2025. Adding to these challenges...the contrast between the steep cost of inputs (such as seed, fertilizer and diesel) and the commodity prices that farmers receive for their crops is at its highest level in 25 years. Put differently, input...

There was a thread earlier entitled "Too Many Americans Want a Civil War." Referring to the Kirk assassination, the author warned "how close the country had come to a 'potential' civil war." I've got news for him, and everyone else. Technically speaking, we're not "potentially" in Civil War II, it's already begun. Anyone involved with or familiar with various factions of the intel community, which geek-out on societal analysis, will tell you it's here. The 3 phases of civil war are, technically, classified as follows: 1. Routine Peaceful Competition Remember, not too long ago, when we could argue vociferously, especially...

The maximum weekly unemployment insurance (UI) benefit has increased for unemployed workers across the state. As part of the 2026 State Budget, the State invested nearly $7 billion to pay off the federal UI Trust Fund loan, and bring the fund to solvency and increase the maximum weekly benefit from $504 to $869. Governor Kathy Hochul said the increase in UI benefits comes at the same time as the GOP federal shutdown impacts 115,000 federal employees in New York, leaving them without paychecks. New York State Department of Labor Commissioner Roberta Reardon said, “Increasing the maximum weekly unemployment insurance benefit...