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The trucking giant Celadon declared bankruptcy on Monday, according to federal filings. It’s poised to be the largest truckload bankruptcy in history, according to FreightWaves, which broke the story on Friday from internal … Read more
by Jim Willie CB Big systemically important banks could be in failure mode. A small group of big Western banks are in deep trouble. The officials might keep it all … Read more
Dean Foods announced that it has filed for Chapter 11 bankruptcy. The Dallas-based milk processor said it is engaged in “advanced discussions” with the Dairy Farmers of America about a … Read more
Ohio-based Murray Energy filed for Chapter 11 bankruptcy joining a growing list of bankrupt or struggling miners as utilities switch away from coal. The company seeks to restructure nearly $3 … Read more
www.wsj.com/articles/pg-e-shares-tumble-as-wildfire-complicates-bankruptcy-case-11572013663?mod=hp_lead_pos1 PG&E Corp. PCG -25.07% stock and bond prices tumbled on Friday, as Wall Street wagered that the damage from the Kincade Wildfire will likely complicate the utility firm’s attempts … Read more
Jia Yueting, who has been called “the Chinese Elon Musk,” filed for chapter 11 bankruptcy in the U.S., seeking protection from banks and other creditors that are owed as much … Read more
Because no one does due diligence anymore How did WeWork go from a $47 billion valuation to near bankruptcy in just 6 weeks? t.co/k4Uqsga3UZ pic.twitter.com/5veQ2dNdiU — CNBC (@CNBC) October 3, … Read more
Fashion retailer Forever 21 filed for Chapter 11 bankruptcy protection Sunday after being hobbled by expensive leases, declining mall traffic, digital competition and fashion choices that fell flat. Forever 21 requested … Read more
via pjmedia: The city of Chicago is in dire fiscal and financial straits with an almost billion dollar budget deficit, bonds rated at junk status or below, numerous extremely costly legal … Read more
Purdue Pharma, accused of fostering the US opioid crisis with its drug OxyContin, filed for bankruptcy protection in a New York court, after a tentative settlement deal faced opposition from … Read more
Apparel retailer Forever 21 is preparing to potentially file for bankruptcy, Bloomberg reported Wednesday afternoon, citing people familiar with its plans. The retailer has been exploring restructuring options to shore … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Cash running low. Brick & mortar meltdown for landlords. Shares annihilated. Ascena Retail Group – which operated 3,519 stores of the brands Dressbarn, Ann Taylor, Loft, … Read more
via MarketWatch: The recent spate of bankruptcies in corporate America is taking its toll. In the first seven months of the year, U.S.-based companies announced 42,937 job cuts due to … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter In 2013, I called Goldman Sachs a “snake-oil salesman” for underwriting a $1 billion J.C. Penney stock offering. Investors got wiped out. Now the bonds, including … Read more
By Tsvetana Paraskova The world’s fourth-largest oilfield services provider, Weatherford International, said that it had started a financial restructuring by filing for Chapter 11 bankruptcy protection in the U.S. in a bid … Read more
“We have agreed to sell substantially all of our assets,” the company says in a SEC filing Salon Media says they have reached an 11th hour deal to sell the … Read more