bankruptcy
Crafts and Fabrics Retailer Joann Files for Bankruptcy
Joann, the 81-year-old fabric and craft retailer, announced Monday that it filed for Chapter 11 bankruptcy protection. In a statement, the Ohio-based company said a restructuring deal was made with a majority of its financial stakeholders and other financing parties, who together pledged $132 million in new funding to help reduce Joann’s debt to approximately […]
The Body Shop Terminating All US Operations and Closing Multiple Stores in Canada After Bankruptcy Filing
UK-based cosmetics retailer The Body Shop has terminated all operations in the United States this month as it files for bankruptcy. Additionally, the company is closing dozens of store locations in Canada. The company announced earlier this month that all operations from its U.S. subsidiary will cease effective March 1. Just over one-third of its […]
Here Are 7 of Well-Known Companies That Went Bankrupt in 2023
New York—It’s been a rough year for some household-name US retailers and businesses. As the economy emerged out of the COVID-19 pandemic, companies faced a laundry list of problems arising from high costs, supply shortages, and growing competition. As a result, several big names filed for bankruptcy in 2023. A bankruptcy doesn’t necessarily mean a […]
Capitol Report Full Broadcast (Dec. 21)
Former Trump attorney Rudy Giuliani is now bankrupt. Find out what his lawyers are saying about the $148 million in damages a jury ordered him to pay. Former President Donald Trump is hitting back at President Joe Biden after Biden accused him of supporting an insurrection. We have the latest fallout of the Colorado ruling, […]
Rudy Giuliani Files for Bankruptcy After Being Ordered to Pay $148 Million to Former Election Workers
Former New York City mayor Rudy Giuliani has filed for bankruptcy protection, a day after being ordered to pay $148 million immediately to two former Georgia election workers who sued him for defamation. Mr. Giuliani listed liabilities of between $100–500 million and assets between $1–10 million, according to a bankruptcy form obtained by The Epoch […]
Miss Universe Decision to Allow Transgender Contestants Played Role in Bankruptcy: Former Judge
A former Miss Universe judge has claimed the company likely filed for bankruptcy in part owing to the outrage over its decision to allow transgender contestants to compete in pageants. Emily Austin, who served as a 2022 Miss Universe judge, made the comments during an interview with Fox News that aired on Nov. 16, shortly […]
Miss Universe Owner Files for Bankruptcy Days Before Transgender Contestants Are Set to Participate in Pageant
JKN Global Group, the Thai owner of the Miss Universe pageant, has filed for bankruptcy one year after buying it for $20 million and just days ahead of the 72nd Miss Universe pageant where transgender contestants are set to take to the stage. The media company revealed the filing with a Thai bankruptcy court in […]
Drug Retailer Rite Aid Files for Bankruptcy Amid Rising Debt, Opioid Litigation
Debt-laden Rite Aid filed for bankruptcy protection on Sunday and said it would close underperforming stores, as the drugstore chain comes under pressure from lawsuits alleging that it helped fuel the U.S. opioid crisis. The filing will allow it to resolve litigation claims in an “equitable manner,” the company said, adding it has received a […]
Property Firm China Oceanwide Forced to Wind Up Operations by Bermuda Court
Beijing-based private property firm China Oceanwide Holdings was ordered to wind up its operations and was suspended from trading by a court in Bermuda on Sept. 25. The suspension will remain in place until further notice, according to a Hong Kong exchange filing, Nikkei Asia reported. The Bermuda court officially accepted a winding-up petition made […]
Chinese Developer Sunac Seeks Chapter 15 Protection in New York Court
Chinese developer Sunac China Holdings has filed for Chapter 15 protection from creditors in a U.S. bankruptcy court, court documents showed on Tuesday. The company sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies that are undergoing restructurings from creditors that hope to sue them or tie up assets in […]
San Francisco Archbishop Files for Bankruptcy
In San Francisco, the Roman Catholic Archbishop is filing for Bankruptcy, citing hundreds of child sex abuse lawsuits against the archdiocese. The suits came after California passed a law to extend the statute of limitations in child sex abuse cases.
‘Tectonic Shift in Global Economy’: Anders Corr on China’s Economic Woes
China’s economic woes are seeping into the United States, with Chinese property giant Evergrande filing for bankruptcy protection in New York. What does this mean for the world’s second-largest economy and for U.S.-China ties? NTD spoke with Anders Corr, geopolitical expert and publisher of the Journal of Political Risk, for more.
China Evergrande Group a ‘Dead Man Walking’: China Strategist
China’s Evergrande Group—once the country’s second-largest property developer—filed for bankruptcy in New York on Thursday. The Chinese developer filed for Chapter 15 bankruptcy protection, which allows a U.S. bankruptcy court to step in when an insolvency case involves another country. Chapter 15 bankruptcy is intended to help promote cooperation between U.S. courts, debtors, and other […]
NTD Business (Aug. 18): China Evergrande Files for Bankruptcy; Mortgage Rates Highest in Decades
Embattled developer China Evergrande Group has filed for bankruptcy protection in a U.S. court as part of one of the world’s biggest debt restructuring exercises, as anxiety grows over China’s worsening property crisis and a weakening economy. The developer has sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies that […]
Inflation’s Vicious Circle: Reasons Behind, Impacts of Yellow Corp. Trucking Bankruptcy
Media reports say consumers will see higher prices for goods coming up to the holiday season due to Yellow Corp. Trucking going under. NTD spoke to Stephen Moore, co-founder of the Committee to Unleash Prosperity, to help us understand the reasons behind—and the impacts of—Yellow Corp.’s bankruptcy.
Trucking Firm Yellow Corp. Files for Bankruptcy
U.S. trucking firm Yellow Corporation filed for Chapter 11 bankruptcy protection on Aug. 6 and said it would wind down, after struggling with a mounting debt load and having failed to find a way through tense contract negotiations with the Teamsters Union. “It is with profound disappointment that Yellow announces that it is closing,” CEO […]
NTD Business (July 31): Biden Launches New Student Debt Repayment Plan; US Trucking Firm Yellow to File for Bankruptcy
The Biden administration is launching a website for its new student loan repayment plan. The president’s new plan could lower monthly loan payments for some borrowers and reduce the amount they pay back over the lifetime of their loans. The new approach comes weeks after the Supreme Court rejected the president’s effort to wipe out […]