The year 2020 has been a rough year for many companies, from retail restaurants to entertainment industries and other kinds of businesses, the economic impact of the coronavirus pandemic on businesses...
What is Bankruptcy? Bankruptcy is a court proceeding where a judge and court trustee examine the assets and liabilities of individuals and businesses who find it difficult to ...
DefinitionBankruptcy is a term used to describe an individual’s or organization’s inability to make payment to its creditors or fulfill its outstanding financial obligations. Though the term is mo...
The coronavirus pandemic caused lots of damages to the economy and some companies are fighting to survive while some have given up trying to stay in business by filing for bankruptcy. Below is t...
On Monday, the J.Crew Group joined the bandwagon of companies that have recently filed for bankruptcy due to the coronavirus pandemic. The company has since become the first national US retailer to fi...
As the retail store faces bankruptcy threats, JCPenney has been in talks with major lenders to secure a $450 million “debtor in possession” (DIP) loan to keep the company afloat. The DIP loan is s...
On Monday, JCPenney announced that it paid a $4.5 million bonus to CEO Jill Soltau, and CFO Bill Wafford, Chief Merchant Michelle Wlazlo, and Chief Human Resources Office Brynn Evanson, each received ...
On Sunday, Rite Aid, an American drugstore, filed for bankruptcy as the firm plans to close some of its stores across the United States as it suffers a decline in sales and opioid lawsuits.In recent y...
Chesapeake Energy Corp is set to exit bankruptcy after winning court approval for a reorganization. The company will cut $7 billion in debt in exchange for giving ownership to its senior creditors, in...
Neiman Marcus Group is a Dallas-based department-store chain that was acquired by Ares Management LLC (ARES) and the Canada Pension Plan Investment Board in 2013.It was reported by Reuters on Sunday t...