Bankruptcy

Bankruptcy filings have been kept in check this year by government stimulus and eviction moratoriums

"In the event the company determines that these sources of liquidity will not be available to it or will not allow it to meet its obligations as they become due, it would likely seek an in-court or out-of-court restructuring of its liabilities," AMC said in an SEC filing Tuesday. "In the event of a future liquidation or bankruptcy proceeding, holders of the company’s common stock would likely suffer a total loss of their investment." 

Robert Murray, the founder and former president and CEO of a major U.S. coal operator that recently emerged from federal bankruptcy, has retired as chairman of the company’s board.

According to a press release, the retailer has now filed a draft asset purchase agreement, which brings the department store chain one step closer to a sale with mall owners Brookfield Asset Management and Simon Property Group.

More than two dozen Kings Food Markets and Balducci’s Food Lover’s Markets are being sold for $96.4 million in cash in a bankruptcy auction.

At AMC's current cash-burn rate, reserves would be depleted by the end of this year or early next year, Kansas-based AMC said.

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Prior to seeking relief in bankruptcy court, the company disclosed that it had secured lenders to support the restructuring process.

The number of U.S. businesses that have sought relief in bankruptcy court is up 33% to date compared to pre-pandemic times, according to new data compiled by legal service firm Epiq.

The spread was reportedly released just before Neiman Marcus Group disclosed that it expects to emerge from Chapter 11 by the end of September after filing for relief in bankruptcy court in May. 

Gun maker Remington Outdoor will be broken up and sold after a multiday bankruptcy auction, in which seven different buyers won the bidding for parcels of the company's weapons and ammunition holdings.

As more and more retailers file bankruptcy in pandemic-related slumps, gift-card holders are left without remedy.

The owner of bankrupt New York Sports Clubs and Lucille Roberts gyms is preparing to sell to lenders that have conceded to supply the financial backing necessary to keep the fitness chains functioning.

The new company is American Consolidated Natural Resources Inc

The company that runs New York Sports Club and Lucille Roberts gyms filed for bankruptcy protection on Monday, as business and memberships decline at gyms in parts of the nation still grapple with the novel coronavirus pandemic.

The Seattle-based high-end kitchenware store will hold liquidation sales at the closing store locations.

The move by the brand's parent, Town Sports International Inc., to seek financial relief comes after the company failed to attain financial aid to survive the global crisis, Bloomberg reported, citing sources familiar with the matter. 

The decision to "wind down of its retail operations" was made after the company's insurance providers failed to pay $175 million that was due under policies put in place to protect them from losses resulting from the COVID-19 pandemic.

Embattled retailer JC Penney gets a lifeline from two of the nation's largest landlords in a deal valued around $800 million.