Corporate bankruptcy

FILE - In this Friday, June 12, 2020 file photo, a man walks past a Debenhams store in the main shopping street Oxford Street, in London. In another dark day for the British retailing industry, Debenhams said Tuesday, Dec. 1 it will start liquidating its business after a potential buyer of the company pulled out, a move that looks like it will cost 12,000 workers their jobs. (AP Photo/Alberto Pezzali, file)
December 01, 2020 - 4:52 am
LONDON (AP) — In another dark day for the British retailing industry, Debenhams said Tuesday it will start liquidating its business after a potential buyer of the company pulled out, a move that looks like it will cost 12,000 workers their jobs. The 242-year-old department store chain said...
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People wearing face masks to try to curb the spread of coronavirus walk past the temporarily closed Topshop flagship store on Oxford Street, during England's second coronavirus lockdown, in London, Monday, Nov. 30, 2020. Arcadia Group, the retail empire of tycoon Philip Green, which owns well-known British fashion chains like Topshop and employs around 15,000 people, appears to be on the brink of collapse following the economic shock of the coronavirus pandemic. (AP Photo/Matt Dunham)
November 30, 2020 - 3:08 pm
LONDON (AP) — Arcadia Group, the British retail empire that has been run by the billionaire Philip Green for 18 years, was placed into a type of bankruptcy protection on Monday, a decision that effectively puts around 13,000 jobs at risk. In another blow to the country's retail industry in the run-...
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Black Friday shoppers wear face masks as the leave Saks Fifth Avenue flagships store empty handed, Friday, Nov. 27, 2020, in New York. (AP Photo/Mary Altaffer)
KNSS News
November 27, 2020 - 5:56 pm
NEW YORK (AP) — The raging coronavirus pandemic kept crowds thin at malls and stores across the country on Black Friday, but a surge in online shopping offered a beacon of hope for struggling retailers after months of slumping sales and businesses toppling into bankruptcy. In normal times, Black...
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FILE - This Tuesday, Feb. 3, 2015 file photo shows a RadioShack store in Dallas. RadioShack, the nearly century-old electronics retailer ubiquitous in malls for decades, has been pulled from brink of death — again. It’s the most prized name in the basket of retail brands that entrepreneur investors Alex Mehr and Tai Lopez have scooped up for a relative pittance since the coronavirus pandemic landed on U.S. shores. (AP Photo/Tony Gutierrez, File)
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November 24, 2020 - 4:40 pm
SILVER SPRING, Md. (AP) — RadioShack, a fixture at the mall for decades, has been pulled from brink of death, again. It's the most prized name in the basket of brands that entrepreneur investors Alex Mehr and Tai Lopez have scooped up since the coronavirus pandemic bowled over the U.S. retail...
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FILE - In this Tuesday, May 8, 2007, file photo, a Purdue Pharma logo is affixed to part of a Purdue building in Stamford, Conn. Proposed settlements between the federal government and OxyContin maker Purdue Pharma and its owners cleared a major legal hurdle Tuesday, Nov. 17, 2020, when a bankruptcy judge said they could move ahead. (AP Photo/Douglas Healey, File)
November 17, 2020 - 7:46 pm
Proposed settlements between the federal government and OxyContin maker Purdue Pharma and its owners cleared a major legal hurdle Tuesday when a bankruptcy judge said they could move ahead. Last month, the company agreed to an $8.3 billion civil settlement with the U.S. Department of Justice...
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Daijah Powell restocks the clothing racks at the Stonebriar Mall J.C. Penney store in Frisco, Texas, Tuesday, Nov. 10, 2020. J.C. Penney is on course to emerge from bankruptcy by Thanksgiving after a U.S. bankruptcy court approved the sale of the ailing retailer to two of the nation's largest landlords and its primary lenders.(Jason Janik/The Dallas Morning News via AP)
November 10, 2020 - 7:00 pm
NEW YORK (AP) — J.C. Penney is on course to emerge from bankruptcy by Thanksgiving, after a U.S. bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders. The U.S. Bankruptcy Court for the Southern District of Texas approved a...
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FILE - This Oct. 5, 2011 file photo shows a sign displayed on the door at Friendly's restaurant in Brunswick, Maine. Friendly's Restaurant, an East Coast restaurant chain known for its sundaes, is filing for bankruptcy protection. The company said it will sell substantially all of its assets to the restaurant company, Amici Partners Group, and all 130 of its locations will remain open while in restructures under Chapter 11 bankruptcy protection. (AP Photo/Pat Wellenbach, File)
November 02, 2020 - 10:50 am
WILBRAHAM, Mass. (AP) — Friendly's Restaurants, the 85-year-old East Coast dining chain known for its Fribble milkshakes and ice cream sundaes, is filing for bankruptcy protection. It joins a growing list of well-established restaurant chains that have dining rooms without diners due to the...
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FILE - In this Nov. 19, 2012 file photo a woman leaves Eastgate Mall after shopping in Cincinnati. Two mall operators filed for bankruptcy protection Monday, Nov. 2, 2020 hurt by the coronavirus pandemic, which has forced its tenants to permanently close stores or not pay rent. Both companies, CBL and Pennsylvania Real Estate Investment Trust, said their malls will remain open as they go through the bankruptcy process. (AP Photo/Al Behrman, file)
November 02, 2020 - 10:43 am
NEW YORK (AP) — Two mall operators filed for bankruptcy protection Monday, hurt by the coronavirus pandemic that has forced their tenants to permanently close stores or not pay rent. Both companies, CBL and Pennsylvania Real Estate Investment Trust, said their malls will remain open as they go...
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This Wednesday, Oct. 21, 2020 photo shows Purdue Pharma headquarters in Stamford, Conn. The Justice Department says on Wednesday, Purdue Pharma, the company that makes OxyContin, will plead guilty to three federal criminal charges as part of a settlement of more than $8 billion. OxyContin is the powerful prescription painkiller that experts say helped touch off an opioid epidemic. (AP Photo/Mark Lennihan)
October 21, 2020 - 3:00 pm
WASHINGTON (AP) — Drugmaker Purdue Pharma, the company behind the powerful prescription painkiller OxyContin that experts say helped touch off an opioid epidemic, will plead guilty to federal criminal charges as part of a settlement of more than $8 billion, the Justice Department announced...
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FILE - In this May 8, 2020 file photo, a parking lot at a JC Penney store is empty in Roseville, Mich. J.C. Penney anticipates being out of bankruptcy protection before the December holiday season. The retailer said Wednesday, Oct. 21 that it filed a draft asset purchase agreement under which mall owners Brookfield Asset Management Inc. and Simon Property Group will acquire substantially all of its retail and operating assets through a combination of cash and new term loan debt. (AP Photo/Paul Sancya, File)
KNSS News
October 21, 2020 - 6:37 am
NEW YORK (AP) — J.C. Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens of thousands of jobs. The beleaguered, century-old retailer said Wednesday that it has filed a draft asset purchase agreement with the two biggest...
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