Debenhams and Topshop Fall, Pushed by Fast Fashion and Pandemic

Debenhams and Arcadia Group, the owner of Topshop, collapsed despite extensive government programs meant to shore up British businesses.

#arcadia-group, #bankruptcies, #boohoo-group-plc, #coronavirus-2019-ncov, #debenhams, #e-commerce, #economic-conditions-and-trends, #fashion-and-apparel, #great-britain, #quarantine-life-and-culture, #shopping-and-retail, #shutdowns-institutional, #topshop

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For Trump, Past Is Prologue

He has always tried to weave a reality different from what is actually true.

#bankruptcies, #credit-and-debt, #domestic-violence, #new-york-city, #trump-taj-mahal-casino-resort, #trump-donald-j, #trump-ivana, #walters-barbara

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Purdue Pharma Pleads Guilty to Role in Opioid Crisis

The admission in federal court brought a formal end to a major investigation that resulted in a multibillion-dollar settlement between the drug maker and the government.

#bankruptcies, #bribery-and-kickbacks, #compensation-for-damages-law, #drug-abuse-and-traffic, #drug-enforcement-administration, #ethics-and-official-misconduct, #fines-penalties, #justice-department, #opioids-and-opiates, #oxycontin-drug, #practice-fusion-inc, #purdue-pharma, #sackler-family, #suits-and-litigation-civil, #united-states-politics-and-government

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Guitar Center Files for Bankruptcy

The filing by the nation’s largest retailer of musical instruments highlights the growing gap between the strongest and weakest companies in the pandemic.

#bain-capital, #bankruptcies, #coronavirus-2019-ncov, #guitar-center-inc, #shopping-and-retail

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Help! My Travel Agency Shut Down and I’m Out $2,000

Our columnist investigates whether there is any recourse for a canceled flight booked through STA Travel, which filed for bankruptcy in August.

#airlines-and-airplanes, #bankruptcies, #british-airways-plc, #consumer-financial-protection-bureau, #consumer-protection, #credit-cards, #quarantine-life-and-culture, #travel-agencies-and-agents, #travel-and-vacations

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$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

The president on Thursday played down big loans he guaranteed for his struggling businesses. But much of that debt is soon to come due in the midst of declining revenue and an I.R.S. audit that could cost him over $100 million.

#bank-of-china, #bankruptcies, #casinos, #credit-and-debt, #deutsche-bank-ag, #federal-taxes-us, #golf, #hotels-and-travel-lodgings, #presidential-election-of-2016, #presidential-election-of-2020, #trump-international-hotel-washington-dc, #trump-national-doral-miami-doral-fla, #trump-plaza-hotelcasino-atlantic-city-nj, #trump-tax-returns, #trump-donald-j, #vornado-realty-trust

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Trump Calls $421 Million Debt ‘a Peanut,’ but Challenges Lie Ahead

The president on Thursday played down big loans he guaranteed for his struggling businesses. But much of that debt is soon to come due in the midst of declining revenue and an I.R.S. audit that could cost him over $100 million.

#bank-of-china, #bankruptcies, #casinos, #credit-and-debt, #deutsche-bank-ag, #federal-taxes-us, #golf, #hotels-and-travel-lodgings, #presidential-election-of-2016, #presidential-election-of-2020, #trump-international-hotel-washington-dc, #trump-national-doral-miami-doral-fla, #trump-plaza-hotelcasino-atlantic-city-nj, #trump-tax-returns, #trump-donald-j, #vornado-realty-trust

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Facing 200 Abuse Claims, The Roman Catholic Diocese of Rockville Centre Seeks Bankruptcy

The move by the Diocese of Rockville Centre on Long Island came after numerous lawsuits were filed under the Child Victims Act.

#bankruptcies, #barres-john-o, #coronavirus-2019-ncov, #long-island-ny, #new-york-child-victims-act-2019, #roman-catholic-church, #sex-crimes, #suits-and-litigation-civil

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Saying Goodbye to Century 21

A chaotic but cherished store that sold designer clothing at half off or more.

#bankruptcies, #century-21-stores, #discount-selling, #fashion-and-apparel, #field-patricia, #financial-district-manhattan-ny, #shopping-and-retail, #shutdowns-institutional

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Century 21, Fabled New York Bargain Destination, Is Closing

The retailer, famous for offering designer goods at discount prices, said it had failed to receive $175 million from its insurers and would close its 13 locations.

#bankruptcies, #century-21-stores, #fashion-and-apparel, #shopping-and-retail

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J.C. Penney Avoids Liquidation in Sale to Mall Operators Simon and Brookfield

The deal for the company’s retail business will keep a number of locations open and is likely to save tens of thousands of jobs.

#bankruptcies, #brookfield-property-partners-lp, #jc-penney-company-inc, #johnson-ronald-b-1959, #shopping-and-retail, #shopping-centers-and-malls, #simon-property-group-inc

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The Two Men Buying Your Favorite Retailers

Jamie Salter and David Simon, one a licensing expert and the other a mall operator, are reshaping the shopping landscape by acquiring bankrupt brands like Brooks Brothers and Forever 21.

#authentic-brands-group, #bankruptcies, #barneys-new-york, #brooks-brothers, #forever-21, #lucky-brand-dungarees, #mergers-acquisitions-and-divestitures, #salter-jamie, #shopping-and-retail, #shopping-centers-and-malls, #simon-property-group-inc, #simon-david-e

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Small-Business Failures Loom as Federal Aid Dries Up

Many owners face tough choices after a federal loan program and other government moves to bolster the economy have run their course.

#bankruptcies, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #shutdowns-institutional, #small-business, #stimulus-economic, #united-states-economy

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Bankrupt Brooks Brothers Agrees to Sale to Simon Property and Authentic Brands

The retailer is seeking court approval of a $325 million sale to a group backed by the mall owner Simon Property Group and Authentic Brands Group, a licensing firm.

#authentic-brands-group, #bankruptcies, #brooks-brothers, #coronavirus-2019-ncov, #del-vecchio-claudio, #fashion-and-apparel, #layoffs-and-job-reductions, #mergers-acquisitions-and-divestitures, #shopping-and-retail, #simon-property-group-inc, #sparc-group-llc

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Men’s Wearhouse Owner Files for Bankruptcy

Tailored Brands, known for its clothing chains Men’s Wearhouse and JoS. A. Bank, struggled as the pandemic shut stores and consumer demand for office attire dropped.

#bankruptcies, #fashion-and-apparel, #mens-wearhouse-inc, #shopping-and-retail, #suits-apparel, #zimmer-george-a

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Lord & Taylor Files for Bankruptcy as Retail Collapses Pile Up

The department store, which traces its roots to 1826, was struggling before the coronavirus hit.

#bankruptcies, #coronavirus-2019-ncov, #hudsons-bay-co, #le-tote-inc, #lordtaylor, #mergers-acquisitions-and-divestitures

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One of America’s Oldest Gun Makers Files for Bankruptcy for 2nd Time

The move by the 204-year-old Remington Arms Company came after years of litigation and declining sales.

#bankruptcies, #cerberus-capital-management, #cloud-peak-energy-inc, #firearms, #gun-control, #jpmorgan-chasecompany, #mergers-acquisitions-and-divestitures, #navajo-indians, #newtown-conn-shooting-2012, #parkland-fla-shooting-2018, #remington-arms-co

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‘Preppy Handbook’ Author LIsa Birnbach on the Brooks Brothers Bankruptcy

The author of “The Official Preppy Handbook” mourns the decline of a 202-year-old institution.

#bankruptcies, #brooks-brothers, #fashion-and-apparel, #the-official-preppy-handbook-book

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Ascena, Owner of Ann Taylor and Lane Bryant, Files for Bankruptcy

Ascena Retail is the latest retailer to fall during the pandemic. The disappearance of some of its 2,800 stores is a fresh blow to shopping malls.

#ascena-retail-group, #bankruptcies, #coronavirus-2019-ncov, #e-commerce, #fashion-and-apparel, #lane-bryant-inc, #mergers-acquisitions-and-divestitures, #real-estate-commercial, #shopping-and-retail, #shopping-centers-and-malls

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The One Change That Could Save Your Neighborhood Stores

The key to pandemic survival for your favorite, homey retailer may be bankruptcy protection. But the code does too little for small businesses.

#bankruptcies, #landlords, #real-estate-commercial, #renting-and-leasing-real-estate, #shutdowns-institutional, #small-business

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How PG&E Is Racing to Improve Safety as Fire Season Approaches

The utility, which recently emerged from bankruptcy, is upgrading power lines, trimming trees and making other changes to prevent another big fire.

#accidents-and-safety, #bankruptcies, #california, #california-public-utilities-commission, #calistoga-calif, #electric-light-and-power, #napa-calif, #pacific-gas-and-electric-co, #wildfires

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Fracking Firms Fail, Rewarding Executives and Raising Climate Fears

Oil and gas companies are hurtling toward bankruptcy, raising fears that wells will be left leaking planet-warming pollutants, with cleanup cost left to taxpayers.

#air-pollution, #bankruptcies, #chesapeake-energy-corporation, #diamond-offshore-drilling-inc, #environment, #global-warming, #greenhouse-gas-emissions, #hydraulic-fracturing, #methane, #natural-gas, #north-dakota, #oil-petroleum-and-gasoline, #permian-basin-north-america, #united-states-politics-and-government, #whiting-petroleum-corporation

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Chatham Hedge Fund Has the Winning Bid for McClatchy Newspapers

The family-owned publisher of The Sacramento Bee and The Miami Herald announced the winner of its bankruptcy sale: Chatham Asset Management, the owner of The National Enquirer.

#alden-global-capital, #american-media-inc, #apollo-global-management, #bankruptcies, #chatham-asset-management, #forman-craig-1961, #fortress-investment-group-l-l-c, #hedge-funds, #knight-ridder, #mcclatchy-company, #mcclatchy-kevin-s, #melchiorre-anthony-hedge-fund-manager, #mergers-acquisitions-and-divestitures, #newspapers, #pensions-and-retirement-plans

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Britain Gambles on a Bankrupt Satellite Operator, OneWeb

Pushed by Brexit, the U.K. government will have a platform to expand into the space business.

#bankruptcies, #bharti-airtel, #european-union, #great-britain, #great-britain-withdrawal-from-eu-brexit, #mergers-acquisitions-and-divestitures, #oneweb-inc, #politics-and-government, #satellites

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Hedge Funds Duel in Bankruptcy Court Over McClatchy Newspapers

Alden Global Capital’s emergency motion challenges the attempt by a likely suitor, Chatham Asset Management, to buy the publisher of The Sacramento Bee and more than two dozen other papers.

#alden-global-capital, #auctions, #bankruptcies, #chatham-asset-management, #hedge-funds, #mcclatchy-company, #medianews-group-inc, #newspapers

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McClatchy, a Family Newspaper Business, Heads Toward Hedge-Fund Ownership

In keeping with a nationwide industry trend, a finance firm seems poised to take control of the publisher of The Miami Herald and The Sacramento Bee.

#alden-global-capital, #bankruptcies, #chatham-asset-management, #forman-craig-1961, #knight-ridder, #mcclatchy-company, #mcclatchy-kevin-s, #melchiorre-anthony-hedge-fund-manager, #mergers-acquisitions-and-divestitures, #miami-herald, #newspapers, #sacramento-bee

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With Department Stores Disappearing, Malls Could Be Next

Brick-and-mortar retail was in the midst of seismic changes even before the pandemic. Analysts say as much as a quarter of America’s malls may close in the next five years.

#bal-harbour-shops-bal-harbour-fla, #bankruptcies, #coronavirus-reopenings, #real-estate-commercial, #shopping-and-retail, #shopping-centers-and-malls, #simon-property-group-inc, #taubman-centers-incorporated

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Chesapeake Energy, a Shale Pioneer, Files for Bankruptcy Protection

The company helped turn the United States into a gas exporter but became known for an illegal scheme to suppress the price of oil and gas leases.

#bankruptcies, #chesapeake-energy-corporation, #coronavirus-2019-ncov, #mcclendon-aubrey-k, #natural-gas, #oil-petroleum-and-gasoline, #shale

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These Companies Gave Their C.E.O.s Millions, Just Before Bankruptcy

Corporate boards are handing out millions to top executives before their companies seek bankruptcy protection, and courts can’t do much about it.

#bankruptcies, #bonuses, #chesapeake-energy-corporation, #coronavirus-2019-ncov, #executive-compensation, #hertz-global-holdings-inc, #jc-penney-company-inc, #lawler-robert-douglas, #layoffs-and-job-reductions, #soltau-jill, #whiting-petroleum-corporation

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Judge Expected to Approve PG&E Plan to Resolve Bankruptcy

A federal judge could decide on Friday that the California utility can put itself back together in time to take part in a crucial wildfire liability fund.

#bankruptcies, #california, #credit-and-debt, #crime-and-criminals, #decisions-and-verdicts, #newsom-gavin, #pacific-gas-and-electric-co, #paradise-calif, #stocks-and-bonds, #suits-and-litigation-civil, #wildfires

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PG&E Ordered to Pay $3.5 Million Fine for Causing Deadly Fire

A judge approved a plea agreement between the California utility and a prosecutor after hearing from people whose lost loved ones were killed in the Camp Fire.

#accidents-and-safety, #bankruptcies, #butte-county-calif, #crime-and-criminals, #electric-light-and-power, #fines-penalties, #murders-attempted-murders-and-homicides, #pacific-gas-and-electric-co, #paradise-calif, #sentences-criminal, #wildfires

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Coronavirus Bankruptcies Are Coming

Experts foresee so many filings in the coming months that the courts could struggle to salvage the businesses that are worth saving.

#altman-edward-i, #bankruptcies, #chesapeake-energy-corporation, #coronavirus-2019-ncov, #credit-and-debt, #diamond-offshore-drilling-inc, #gerber-robert-e, #hertz-global-holdings-inc, #j-crew-group, #layoffs-and-job-reductions, #neiman-marcus-group, #united-states-economy

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PG&E Pleads Guilty in 84 Deaths Caused by Camp Fire

The California utility agreed to pay a nearly $2 billion fine for causing the blaze, which killed dozens and destroyed the town of Paradise.

#bankruptcies, #butte-county-calif, #electric-light-and-power, #fines-penalties, #newsom-gavin, #pacific-gas-and-electric-co, #paradise-calif, #wildfires

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PG&E to Plead Guilty in 84 Deaths Caused by Camp Fire

The California utility has agreed to pay a nearly $2 billion fine for causing the blaze, which killed dozens and destroyed the town of Paradise.

#bankruptcies, #butte-county-calif, #electric-light-and-power, #fines-penalties, #newsom-gavin, #pacific-gas-and-electric-co, #paradise-calif, #wildfires

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Market Madness in the Pandemic

Why are investors rushing to buy junk?

#automobile-renting-and-leasing, #bankruptcies, #coronavirus-2019-ncov, #hertz-global-holdings-inc, #stocks-and-bonds, #trump-donald-j

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Shares of Chesapeake Energy, a Shale Pioneer, Tumble in Volatile Trading

The company, which has said it could file for bankruptcy protection, helped turn the U.S. into a gas exporter but became known for an illegal scheme to suppress the price of oil and gas leases.

#bankruptcies, #chesapeake-energy-corporation, #company-reports, #credit-and-debt, #lawler-robert-d, #mcclendon-aubrey-k, #natural-gas, #oil-petroleum-and-gasoline, #oklahoma-city-okla, #shale

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California Regulators Back PG&E Bankruptcy Plan

The vote increases the likelihood that the utility will resolve its case by a June 30 deadline and get future liability protection from the state.

#bankruptcies, #california, #california-public-utilities-commission, #electric-light-and-power, #newsom-gavin, #pacific-gas-and-electric-co, #regulation-and-deregulation-of-industry, #wildfires

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Risky Strategy by Many Private Colleges Leaves Them Exposed

Chasing after a shrinking pool of wealthy students by increasing spending, and now vulnerable to closure because of the pandemic.

#bankruptcies, #colleges-and-universities, #coronavirus-2019-ncov, #edmit-inc, #education-department-us, #la-salle-university-philadelphia, #private-and-sectarian-schools

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Hertz, Car Rental Pioneer, Files for Bankruptcy Protection

The company, which had amassed a large debt, has been devastated by the sharp drop in travel during the pandemic.

#airports, #automobile-renting-and-leasing, #automobiles, #avis-budget-group-inc, #bankruptcies, #coronavirus-2019-ncov, #credit-and-debt, #hertz-global-holdings-inc, #icahn-carl-c, #marinello-kathryn-v

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PG&E Says Wildfire Victims Back Settlement in Bankruptcy

The vote to accept a $13.5 billion deal will help the California utility resolve its bankruptcy in time to qualify for a state wildfire fund.

#bankruptcies, #california, #electric-light-and-power, #pacific-gas-and-electric-co, #stocks-and-bonds, #suits-and-litigation-civil, #wildfires

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J.C. Penney Files for Bankruptcy

The chain’s move came after J. Crew and the Neiman Marcus Group filed, and represented the biggest casualty amid retail closures tied to the coronavirus pandemic.

#bankruptcies, #coronavirus-2019-ncov, #jc-penney-company-inc, #shopping-and-retail, #shutdowns-institutional

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The Pandemic Helped Topple Two Retailers. So Did Private Equity.

At a time when J. Crew and Neiman Marcus needed to be investing money to adjust to changing shopping habits, enormous sums were going to their owners.

#bankruptcies, #coronavirus-2019-ncov, #credit-and-debt, #j-crew-group, #neiman-marcus-group, #private-equity, #shopping-and-retail

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Neiman Marcus Files for Bankruptcy

The high-end retailer is the first department store to file for bankruptcy during the coronavirus pandemic.

#ares-management-llc, #bankruptcies, #bergdorf-goodman, #canada-pension-plan-investment-board, #coronavirus-2019-ncov, #fashion-and-apparel, #luxury-goods-and-services, #mergers-acquisitions-and-divestitures, #mytheresa-com, #neiman-marcus-group, #private-equity, #shopping-and-retail, #shutdowns-institutional

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How Health Insurers Can Be Heroes. Really.

The industry is profiting from the pandemic. It needs to pay back by cutting premiums and co-payments, help private practices and finance more protection and care.

#bankruptcies, #coronavirus-2019-ncov, #drugs-pharmaceuticals, #epidemics, #health-insurance-and-managed-care, #hospitals, #medicine-and-health, #preventive-medicine, #protective-clothing-and-gear, #telemedicine

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How Bailout Backlash and Moral Hazard Outrage Could Endanger the Economy

People are increasingly focusing not on preventing a depression but on which recipients of federal rescue are morally worthy.

#bankruptcies, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #layoffs-and-job-reductions, #subprime-mortgage-crisis, #united-states-economy

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J. Crew Likely to File for Bankruptcy in Virus’s First Big Retail Casualty

It was struggling before coronavirus pandemic, but J. Crew is unlikely to be the last retailer to fall.

#bankruptcies, #coronavirus-2019-ncov, #drexler-millard-s, #fashion-and-apparel, #j-crew-group, #lyons-jenna, #madewell, #shopping-and-retail, #singer-jan-e-1964

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When Does a Small Business File for Bankruptcy? Questions and Answers

The coronavirus is expected to permanently shut millions of small businesses in the next several months. Here are issues for owners to consider.

#bankruptcies, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #shutdowns-institutional, #small-business, #small-business-administration

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There Is No Perfect Way Out of This

In the absence of a coordinated federal response, fits and starts may be all we have.

#bankruptcies, #biden-joseph-r-jr, #coronavirus-2019-ncov, #cuomo-andrew-m, #labor-and-jobs, #mcconnell-mitch, #presidential-election-of-2020, #restaurants, #trump-donald-j

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The Coronavirus Leaves the State of the States Dire

State and local costs of dealing with the pandemic are skyrocketing as revenues plunge. Congress needs to step in.

#bankruptcies, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #federal-budget-us, #mcconnell-mitch, #rockefeller-foundation, #states-us, #trump-donald-j, #united-states-politics-and-government

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Bankruptcy Didn’t Help Detroit Fight the Coronavirus

Cities should avoid bankruptcy. It hasn’t helped Detroit.

#bankruptcies, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #dayton-ohio, #detroit-mich, #federal-taxes-us, #local-government, #mcconnell-mitch, #medicaid, #property-taxes, #san-jose-calif, #stockton-calif, #subprime-mortgage-crisis, #unemployment, #wages-and-salaries, #warren-elizabeth

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