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April 24, 2024 A message from our Founder: TGP Communications, the parent company of The Gateway Pundit, recently made the decision to seek protection under Chapter 11 of the United States Bankruptcy Code in the Southern District of Florida as a result of the progressive liberal lawfare attacks against our media outlet. This is not an admission of fault or culpability. This is a common tool for reorganization and to consolidate litigation when attacks are coming from all sides. It allows TGP to consolidate this lawfare in one court for ultimate resolution. Despite the radical left’s efforts to silence The...

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.

Red Lobster is reportedly considering filing for bankruptcy to relieve financial pressures that have weighed on the company. According to a report by Bloomberg citing people familiar with the discussions, Red Lobster is weighing a Chapter 11 bankruptcy filing to renegotiate burdensome leases and address other long-term contracts as well as rising labor costs. The outlet reported that the seafood restaurant chain is being advised by law firm King & Spalding on the subject, and that while discussions about restructuring are ongoing and that no final decisions have been made about a bankruptcy filing. By filing for Chapter 11 bankruptcy,...

Yet another leftist media outlet may be on the brink of collapse. The Intercept, which was founded by left-libertarian journalist Glenn Greenwald back in 2014, is said to be in serious financial difficulty amid an escalating power struggle between warring factions. Semafor reports:The Intercept, the left-wing U.S. newsroom that’s been a thorn in Joe Biden’s side and a hub for pro-Palestinian coverage, is nearly out of money and facing its own bitter civil war, with multiple feuding factions battling for power and two star journalists trying to take control.At the heart of the crisis is a nonprofit whose founding donor,...

A Roman Catholic diocese based in California has announced that it is filing for bankruptcy due to the expenses related to numerous lawsuits centered on priest abuse. The Diocese of Sacramento released a statement on Monday confirming that Bishop Jaime Soto had “filed for reorganization of the Diocese of Sacramento’s debts in U.S. Bankruptcy Court.” The filing comes as the diocese faced over 250 lawsuits related to sex abuse of minors by clergy and lay employees, stemming from incidents that go as far back as the 1950s. “This wave of new claims followed a 2019 law allowing victim-survivors to file...

LOS ANGELES - Many Southern California customers are frustrated and confused to learn that they might not be receiving their expensive appliance orders, purchased through the luxury appliance store Pirch, when all locations suddenly closed this week. "Are we getting our merchandise? Are we getting a refund?" asked one customer, Maribell Rodriguez. Rodriguez told FOX 11 that she has yet to receive any answers from Pirch regarding her order since the company's abrupt closure Wednesday. She is in the middle of a home renovation and just took out a $20,000 loan to pay for the appliances. "I really feel that...

The startup electric car company Fisker said this week that it is halting the production of its vehicles to raise $150 million in emergency funds as it grapples with a cash crunch spurred by a low demand for electric vehicles. The California-based company, which says its mission is to “create the world’s most emotional and sustainable electric vehicles,” has barely produced over a thousand electric vehicles worldwide for the year. “The company has approximately 4,700 vehicles in its currently inventory, carried over from 2023 and including 2024 production,” the company said. “While it has not completed an NRV analysis for...

(WJET/WFXP) — Crafts retailer JOANN filed for Chapter 11 bankruptcy early Monday morning. The company, with over 800 stores nationwide, is best known for selling craft supplies, home decor and sewing supplies. The filing allows JOANN to continue to operate while it repays its debts, meaning no stores or online shopping is expected to be affected by the filing, according to a press release. Additionally, any obligations to employees, vendors, landlords and other trade creditors will be paid or otherwise satisfied in full. According to court documents, JOANN cited increasing interest rates and decreasing sales after a spike in sales...

Electric vehicle start-up Fisker is exploring bankruptcy, The Wall Street Journal reported this week. Fisker’s stock plunged this week as investors worry about the company’s ability to survive amid a cash crunch. The auto company also said it would slash 15% of its workforce. The Wall Street Journal reported: Electric-vehicle startup Fisker FSR -55.88%decrease; red down pointing triangle has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk...

America won’t go bankrupt - well, it won’t officially go bankrupt. The numbers look bad, and fiscal conservatives are hyperventilating, but the debt is in our own currency and is just a claim on future tax revenues. The Fed, the Treasury and everyone at the top of the monetary system can agree on a painful inflate the debt away process. America is technically in it right now. Inflation that feels like +10% is not happening by accident, and is helping all debtors right now. Buying a home right now is tough for new buyers, but everyone who purchased from 2009...

History demonstrates that attempts to “cure” a problem by exceeding the federal government’s constitutional powers generally lead to more and worse problems... “A rage ... for an abolition of debts ... or for any other improper or wicked project ....” — James Madison, Federalist No. 10.. The courts, in the exercise of what is called “equity jurisdiction,” have long excused borrowers from obligations incurred through fraud, duress, and other forms of creditor unfairness.. In addition, federal bankruptcy laws (authorized in the Constitution by Article I, Section 8, Clause 4) offer a path to safety for debtors who get in over...

Jim Biden used Joe Biden's name in his efforts to back Americore.. least three .. relatives were employed by the medical company .. Americore, a healthcare company that has been accused in $100million Medicare fraud case, revealed that Jim used his brother's clout as vice president to advance the company. Jim worked as a consultant for Americore in 2017 after his brother served eight years as vice president. Former executives from Americore .. that Jim had also planned for Joe to serve on the board and suggested his brother could promote the company during a future presidential run ... Jim...

There's a reason very few new automakers have been launched over the past 40 or so years. Building and selling cars takes a tremendous amount of infrastructure. When you add in having to create not just a new design, but a new method of powering your car, you see why big auto has generally been a closed club. Tesla (TSLA) , of course, has crashed that party, becoming the first startup electric vehicle manufacturer to operate at scale. You can credit that to the genius and drive of Elon Musk. It may have been lost in his recent conversion to...

President Joe Biden spent much of his third year in the White House trying to brag about what he'd done for the American economy. In February, speaking to a chapter of the International Brotherhood of Electrical Workers in Maryland, he declared, "For the past two years, we've been carrying out my economic plan that grows the economy from the bottom up and the middle out, not the top down." Biden then recited a laundry list of economic indicators. The unemployment rate was 3.4 percent. Gas prices had dropped by $1.60 per gallon. In his first two years in office, he...

On Jan. 1, illegal immigrants in California received free medical care. That was thanks to Assembly Bill 133, which Gov. Gavin Newsom signed into law in July 2021. Cost: $4 billion more a year, as an estimated 764,000 illegal immigrants are added to the already stuffed rolls of the 14.6 million Californians on Medi-Cal, the state’s version of the Medicare program. At the signing almost three years ago, Mr. Newsom exclaimed, “We’re investing California’s historic surplus to accomplish transformative changes we’ve long dreamed of—including this historic Medi-Cal expansion to ensure thousands of older undocumented Californians, many of whom have been...

The United States is grappling with a mounting housing crisis as median three-bedroom rents surge beyond the reach of average local wages in 197 out of 338 counties, according to ATTOM. This alarming trend aligns with the broader economic challenges facing individuals and families as housing costs outpace income growth. Both rents and real estate prices have experienced significant escalations, far outstripping the pace of wage and salary increases. The consequences are particularly felt by younger generations, who have been hopeful for a real estate market correction to ease the burden of soaring housing costs.

As the economic horizon teems with optimism, a darker reality unfolds for Generation X and Millennials, signaling a looming debt crisis. Recent reports indicate a concerning uptick in bankruptcy assistance, a silent alarm echoing amidst the cheers for positive economic data. LegalShield’s December Consumer Stress Legal Index (CSLI) reveals a three-year peak in financial duress, driven by a relentless rise in bankruptcy and legal assistance requests—over 35 million and counting. Contrary to the recent surge in consumer confidence, this data forecasts a dip, exposing a groundswell of fiscal challenges. Particularly impacting younger generations, this trend hints at a latent economic...

ASHEVILLE, N.C. — The city of Asheville's purchase of five electric buses in 2018 has turned into a multi-million-dollar loss. The buses have been broken or unable to run because of software and/or mechanical issues, making them an expensive and disappointing purchase, according to city maintenance and transportation staff. ... Currently, three of the five buses are idled, with one that has had a broken double door since July. “We haven’t been able to get new doors,” Asheville's interim transportation director Jessica Morriss said. “There's no third party that makes a door. We'd have to get custom-made doors.” Each of...

A bankruptcy judge gave Rudy Giuliani the green light to seek a new trial to challenge the $148 million defamation verdict won by two Georgia election workers after Rudy got railroaded by an Obama judge and was unable to present any evidence at trial. Last month Rudy Giuliani filed Chapter 11 bankruptcy protection one day after Obama-appointed Judge Beryl Howell ordered immediate enforcement of Georgia election workers Ruby Freeman and Wandrea “Shaye” Moss’s $148 million judgment against him. According to Bloomberg, Giuliani listed $500 million in debts and between $1 million and $10 million in assets. The bankruptcy filing put...

When a person wants to get a loan from a bank, they are first evaluated on whether or not they will be able to pay off the loan. The bank looks at the person’s credit score, and the person either receives the loan or is denied the opportunity.Most of us have gone through the process once or twice.But did you know that companies have their own “credit scores” that lenders look at?Securing additional funds is critical for some companies. And if they can’t, it can eventually result in bankruptcy.So knowing a company’s financial situation is key to being a good...