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Tag Archives: Bankruptcies
Judge Clears Purdue Pharma’s Restructuring Plan for Vote by Thousands of Claimants
The ruling was a milestone in yearslong efforts to make the OxyContin manufacturer pay for its role in the opioid crisis, but some plaintiffs feel the plan doesn’t go far enough.
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The Crumbling of the N.R.A.
Could an investigation into financial misconduct be the undoing of America’s most powerful gun rights group?
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In Rebuke to NRA, Federal Judge Dismisses Bankruptcy Case
The N.R.A. filed for bankruptcy this year as it sought to end run regulatory action in New York, but a judge rejected the strategy.
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‘Staggering’ Legal Fees in Boy Scouts Bankruptcy Case
As the Boy Scouts of America goes through a massive and contentious bankruptcy, dozens of lawyers are working on the case. Many are charging more than $1,000 an hour.
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NRA Leadership and Bankruptcy Assailed by U.S. Trustee
In a rare move, the trustee, part of the Justice Department, called for the dismissal of the N.R.A.’s bankruptcy filing or the appointment of an outside monitor.
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N.R.A. Chief Takes the Stand, With Cracks in His Armor
Wayne LaPierre has led the National Rifle Association for 30 years, but his implacable image looked threadbare in bankruptcy court.
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Asian-Americans’ Politics, Pandemic Wilderness Explorers and O.J. Simpson’s Twitter Account: The Week in Narrated Articles
Five articles from around The Times, narrated just for you.
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Embattled N.R.A. Chief Kept Bankruptcy Filing Secret From Deputies
Facing enforcement by the New York attorney general, the National Rifle Association’s chief executive hatched a secret plan for bankruptcy.
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PG&E Charged With Crimes in 2019 California Wildfire
A district attorney filed five felony and 28 misdemeanor counts in connection with the Kincade Fire, which ravaged Sonoma County.
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The Ghosts of Brooks Brothers
After the retailer filed for bankruptcy one couple was left with a warehouse full of abandoned mannequins and a price tag of nearly $250,000 to dispose of it.
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Greensill Capital: The Collapse of a Company Built on Debt
Greensill Capital promised a win-win for buyers and sellers, until it all fell apart, igniting concerns about opaque accounting practices.
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Purdue Pharma Offers Plan to End Sackler Control and Mounting Lawsuits
The OxyContin maker filed its long-awaited restructuring plan in bankruptcy court. Revenue from the new company would go exclusively to abating the opioid crisis.
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Paper Source Files for Bankruptcy, Frustrating Cardmakers
The chain’s vendors, most of them small-business owners, say they are worried they won’t be paid for orders delivered in the weeks just before the filing.
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Annmarie Reinhart Smith, Who Battled for Retail Workers, Dies at 61
After nearly three decades with Toys “R” Us, she helped lead a fight by employees for severance pay from the bankrupt company. She died of Covid-19.
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Trump Plaza to be Imploded in Atlantic City
An implosion of Trump Plaza Hotel and Casino, the last vestige of the former president’s once-dominant brand in Atlantic City, N.J., is scheduled for Wednesday morning.
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HNA Was Once China’s Biggest Dealmaker. Now It Faces Bankruptcy.
China is tightening the reins on its economy and looking out for companies that could pose risks to China’s financial system.
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Harvey Weinstein Accusers Agree to $17 Million Settlement
Some 40 women will participate in the bankruptcy court agreement, though others who have sued Mr. Weinstein and accused him of sexual abuse have objected to the terms and are considering an appeal.
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Europe’s Bankruptcies Are Plummeting. That May Be a Problem.
Governments have extended national programs to keep troubled businesses afloat, but the aid may only be postponing a painful reckoning.
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The N.R.A. Wants to ‘Dump’ Its Regulators via Bankruptcy. Will It Succeed?
In a showdown with New York State, the National Rifle Association is trying an unusual strategy. Legal experts doubt it will work.
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Sexual Abuse in the Boy Scouts: ‘Something Terrible Has Happened’
One man’s story of the sexual abuse he suffered as a child in the Boy Scouts of America.
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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.
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For Trump, Past Is Prologue
He has always tried to weave a reality different from what is actually true.
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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.
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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.
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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.
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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.
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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.
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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.
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Saying Goodbye to Century 21
A chaotic but cherished store that sold designer clothing at half off or more.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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