Corporate bankruptcy

FILE - In this May 8, 2020, file photo, a J.C. Penney store sits closed in Roseville, Mich. The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. Penney said late Friday, May 15, 2020, it will be closing some stores and will be disclosing details and timing in the next few weeks. (AP Photo/Paul Sancya, File)
May 15, 2020 - 7:57 pm
NEW YORK (AP) — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. As part of its reorganization, the 118-year-old company said late Friday it will be shuttering some stores...
Read More
A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
KNSS News
May 14, 2020 - 4:04 pm
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak forced more companies to slash jobs even though most states have begun to let some businesses reopen. Roughly 36 million people have now sought jobless aid in just the two...
Read More
A shop vendor wearing a face mask to help curb the spread of the coronavirus waits for customer outside headscarves shop in Kuala Lumpur, Malaysia, on Monday, May 11, 2020. Despite a sharp drop in infections, Malaysia's leader said restrictions to fight the coronavirus will be extended by four more weeks until June 9. The government has already let most businesses reopen with strict conditions to help revive a hard-hit economy. But mass gatherings are still barred, with schools, cinemas and houses of worship staying shut, group sports prohibited and interstate travel banned. (AP Photo/Vincent Thian)
May 11, 2020 - 3:23 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to national and global response, the work place and the spread of the virus. ________________________ EARNINGS SEASON: The damage from the pandemic is playing...
Read More
Family members watch Carmen Antillon receives her Tupelo High School diploma from Tupelo High School 12th grade Assistant Principal L.V. McNeal during a graduation ceremony at Milam Elementary School, Wednesday, May 6, 2020, in Tupelo Miss. The school district divided up the graduation ceremony to five different locations over three days with no more than four guests in attendance. (Thomas Wells/The Northeast Mississippi Daily Journal via AP)
May 07, 2020 - 9:52 pm
Many governors across the U.S. are disregarding or creatively interpreting White House guidelines for safely easing restrictions and letting businesses reopen amid the coronavirus pandemic, an Associated Press analysis found. The AP determined that 17 states did not meet a key benchmark set by the...
Read More
A closed Neiman Marcus store is seen at the Garden State Plaza mall in Paramus, N.J., Thursday, May 7, 2020. Neiman Marcus filed for Chapter 11 bankruptcy protection, sounding an ominous note for department stores during the pandemic. (AP Photo/Seth Wenig)
KNSS News
May 07, 2020 - 3:50 pm
NEW YORK (AP) — Neiman Marcus has filed for Chapter 11 bankruptcy protection, the first department store chain and second major retailer to be toppled by the coronavirus pandemic. The move by the 112-year-old storied luxury department store chain was announced Thursday and follows the bankruptcy...
Read More
FILE - In this March 21, 2018, file photo, Gayle Benson, widow of NFL New Orleans Saints and NBA New Orleans Pelicans owner Tom Benson, walks down the steps to receive his casket with New Orleans Archbishop Gregory Aymond for visitation at Notre Dame Seminary in New Orleans. Aymond, who knew the couple separately before they married in 2004, has become almost a part of the team, thought by some to bring the beloved Saints help from a higher power. Aymond was there to eulogize Tom Benson as a “New Orleans saint on Earth” and walk side by side with Gayle in the funeral procession. (AP Photo/Gerald Herbert, File)
May 05, 2020 - 3:30 pm
A bankruptcy filing by New Orleans’ Roman Catholic archdiocese freezes sexual abuse lawsuits and could help bury the details of alleged coverups of predator priests and thousands of internal emails documenting a behind-the-scenes alliance with the New Orleans Saints. Attorneys for those suing the...
Read More
Amid concerns of the spread of COVID-19, few shoppers are seen at the Galleria Dallas mall in Dallas, Monday, May 4, 2020. (AP Photo/LM Otero)
May 04, 2020 - 5:19 pm
NEW YORK (AP) — Many Americans are getting their first taste of what pandemic shopping looks like at their local mall. Simon Property Group, the nation’s largest mall operator, reopened several dozen shopping centers across Texas, Georgia and roughly ten other states between Friday and Monday...
Read More
A man wearing a mask walks by a window display at a J Crew store in Rockefeller Center, Saturday, May 2, 2020, in New York. On April 30, the company announced it would apply for bankruptcy protection amidst the COVID-19 pandemic. (AP Photo/Mark Lennihan)
KNSS News
May 04, 2020 - 1:15 pm
NEW YORK (AP) — Struggling fashion brand J.Crew has filed for bankruptcy protection, the first major retailer to do so since the coronavirus pandemic forced most stores across the United States to close their doors. More retail bankruptcies are expected in coming weeks, with Neiman Marcus and J.C...
Read More
FILE - In this April 2, 2020 file photo, "For Sale By Owner" and "Closed Due to Virus" signs are displayed in the window of a store in Grosse Pointe Woods, Mich. Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies are seeing signs that more owners are contemplating the possibility of bankruptcy. Government aid my simply be too little too late. (AP Photo/Paul Sancya, File)
April 26, 2020 - 11:24 am
NEW YORK (AP) — The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court. Business filings under Chapter 11 of the federal bankruptcy law rose sharply in March, and attorneys who work with struggling companies are...
Read More
Virgin Australia planes are lined up at departure gates at Sydney Airport in Sydney, Wednesday, April 22, 2020. Virgin Australia is seeking bankruptcy protection, entering voluntary administration after a debt crisis worsened by the coronavirus shutdown pushed it into insolvency. (AP Photo/Rick Rycroft)
April 22, 2020 - 11:09 pm
CANBERRA. Australia (AP) — Virgin Australia has become the world’s largest airline to seek bankruptcy protection in the weeks since the coronavirus shutdown created a debt crisis. A look at Australia’s second-largest airline’s predicament and what it means for other airlines: WHY IT SOUGHT...
Read More

Pages