The 61-year-old company – the largest musical instrument retailer in the United States – had tried to stay afloat during the coronavirus pandemic by offering virtual music lessons. But Guitar Center was forced to close several of its stores in March during nationwide shutdowns, and it struggled to get customersRead More →

Grupo Aeromexico will renegotiate the lease terms and debts of its aircraft, including the restructuring of its obligations with Boeingas part of the company’s financial restructuring, business newspaper El Financiero reported. the Aeromexico (A M, Mexico City Int’l) the parent company has applied to the U.S. Bankruptcy Court for theRead More →

Owner of a men’s clothing store Tailor-made brands could be the next major retail company in the United States to file for bankruptcy as the COVID-19 crisis unfolds. Tailored – also owns K&G and Jos. A. Bank – included the potential for bankruptcy, or even closure of operations, in aRead More →

As discussed in previous posts, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law on December 27, 2020, largely to address the severe economic impact of the COVID-19 pandemic. For bankruptcy litigants — or any business that has been frustrated by receiving a demand letter after oneRead More →

the Hertz car rental company filed for bankruptcy on Friday. The 102-year-old company, heavily in debt, could not resist the coronavirus pandemicwhich crippled global travel and demand for rental vehicles. The Estero, Fla.-based company’s lenders were unwilling to grant it another extension to pay its auto lease debt after Friday’sRead More →

This is an archived article and the information in the article may be out of date. Please look at the timestamp on the story to see when it was last updated. (CNN) – Hertz filed for bankruptcy Friday night, the latest victim of the sudden economic downturn caused by theRead More →

Who brought down Toys R Us? The 69-year-old toy giant listed a host of reasons for its slide into bankruptcy in a Chapter 11 regulatory filing, including ‘expensive debt servicing’, ‘relentless competition from e-commerce and big box retailers’. surface” and a news story that turned his bankruptcy protection review intoRead More →

In In re Ellingsworth Residential Community Association, the United States Bankruptcy Court for the Intermediate District of Florida has determined that a nonprofit community association was engaged in the requisite “business or trade activities” sufficient to qualify it as a “small business debtor” for purposes of filing a petition. aRead More →

With processing operations unaffected, AAFC will continue to provideing High quality Patient care Company Recapitalizes with Iinitial $62.5M in Iincremental FInancing & Reduced cost of debt to better position the company and its processing facilities for long-term growth AAC & Its processing facilities positioned for long-term growth BRENTWOOD, Tennessee, JuneRead More →

Rapper 50 Cent is currently going through the unpleasant experience of personal bankruptcy. That’s right, the man named after the money, the man who sang “Have a baby by me, baby, be a millionaire,” is now in bankruptcy court. Like many before him in the entertainment industry, overspending and lifestyleRead More →

Clay Terrace owner Washington Prime plans to move forward with redevelopment of the Carmel shopping center despite reports that the company is preparing a possible bankruptcy filing. On March 4, Bloomberg reported that Washington Prime, based in Columbus, Ohio, which owns about 100 shopping centers in the United States, plansRead More →

UPDATE: Hertz officially filed for bankruptcy on Friday, May 22.. The 102-year-old rental giant filed the case after it was unable to secure some $400 million to pay holders of its asset-backed securities. The company suffered a dramatic decline in business following the shutdown of the airline industry. Hertz facedRead More →

Alice Rogoff, Far North Fisheries Stiff on a pair of $119 boots by millionaire Alice Rogoff in 2017 – the former owner and publisher of what is now the Anchorage Daily News (ADN.com) – the owner of the “Boot Country” of the city ​​should now receive a check for $15.01Read More →

Valaris, the world’s largest offshore drilling contractor by fleet size, filed for bankruptcy on Wednesday, in a bid to restructure its leverage and reduce debt by more than $6.5 billion. The company has been hit by the combined effects of the global COVID-19 pandemic, lower oil prices, lower demand forRead More →

FILE PHOTO: The ultrastructural morphology exhibited by the 2019 novel coronavirus (2019-nCoV), which has been identified as the cause of an outbreak of respiratory illness first detected in Wuhan, China, is seen in a released illustration by the Centers for Disease Control and Prevention (CDC) in Atlanta, Georgia, USA onRead More →

India: Insolvency and Bankruptcy: Is a Challenge to an Arbitral Award an “Existing Dispute” Under the Code? August 07, 2020 KS Legal & Associates To print this article, simply register or connect to Mondaq.com. A creditor under Indian laws can apply to several bodies and / or courts to collectRead More →