Bankruptcy

Authentic Brands Group CEO Jamie Salter and Simon Property Group CEO David Simon have teamed up to buy several iconic retail brands.

Neiman Marcus Group said on Friday it expected to emerge from Chapter 11 bankruptcy by the end of this month under a restructuring plan that is likely to eliminate more than $4 billion of its debt.

The data, based on a new study by West Health and Gallup, reflects an increase from 45% of Americans who feared being crippled by medical bills in early 2019.

Courts recorded 17% increase in commercial chapter 11 filings last month from a year earlier

J.C. Penney Co. will pursue a bankruptcy sale to top lenders, including H/2 Capital Partners LLC, that would hand them equity in exchange for their debt claims.

Just months after Hertz Global Holdings Inc. shelled out $16.2 million in extra pay meant to keep executives from leaving as the coronavirus pandemic decimated the travel industry, the car-rental company wants to pass out an additional $14.6 million in bonuses.

Thin sheets of brown plywood are holding American businesses together. 

A federal judge in Alabama on Tuesday could decide whether the families of those killed in the 2012 Sandy Hook elementary school shooting can interrupt Remington’s bankruptcy proceedings.

The coronavirus pandemic has pushed U.S. companies to go bankrupt at a rate that could make 2020 the worst year for bankruptcies since 2010 during the fallout of the Great Recession, according to a new report from S&P Global.

The rural airline wants to award $250,000 in bonus money to its chief executive and other employees. 

Discount department store Stein Mart revealed Wednesday that it filed for Chapter 11 bankruptcy, saying it plans to close a "significant portion, if not all" of its 281 stores nationwide.

Brand-licensing company WHP Global Inc. has bowed out of the race for Brooks Brothers Inc., according to people familiar with the matter, leaving a venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. poised to take control of the bankrupt retailer.

The pandemic’s fast-moving shutdowns and restrictions have wreaked havoc on fitness routines, life plans and gym finances.

Virgin Atlantic filed for bankruptcy protection Tuesday.

Lord & Taylor is closing 19 of its store locations after its parent company filed for bankruptcy.

The XFL is smelling what The Rock is cooking.

Luxury department store chain Lord & Taylor filed for bankruptcy along with its owner, the venture-backed fashion-rental subscription service Le Tote Inc.

The California-based company, which operates over 200 restaurants in eight countries, said it will close unprofitable locations, saying the coronavirus pandemic has had an "unprecedented impact."

A federal bankruptcy judge on Tuesday limited the amount of political contributions OxyContin maker Purdue Pharma can make to candidates running for state attorney general or governor, particularly as these same offices are working to settle massive lawsuits against the company for their part in the national opioid addiction crisis. 

Sycamore sees JCPenney helping to revive the North Carolina-based Belk, a struggling department store chain with 300 stores located mostly in the South, a source said.