bankruptcy

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Joann Will Close 500 Stores
Joann Is Closing
All of Its Stores
UPDATED
Feb 24, 2025 6:45 PM CST

Joann Is Closing All of Its Stores

Fabric and crafts retailer is kaput after more than 80 years in business

(Newser) - Fabric and crafts retailer Joann Inc., which has been a destination for quilters, knitters, and lovers of craft projects for 80 years, is going out of business and shuttering all its stores. Earlier this month, the retailer, which filed for bankruptcy in January, said it planned to close 500 stores,...

Looks Like Hooters Is Heading for Bankruptcy

If things go as planned, court filing could come in a couple of months, sources tell Bloomberg

(Newser) - Hooters servers in sexy getups have traditionally been the main draw for the restaurant/sports bar/chicken wing chain, but the only thing that company execs have had their eyes on recently are the firm's financials—and they don't look good. Sources tell Bloomberg that the company is collaborating with...

Once Valued at $30B, Nikola Files for Bankruptcy

Electric-vehicle maker files for Chapter 11

(Newser) - Troubled hydrogen truck maker Nikola has filed for Chapter 11 bankruptcy protection, months after saying that it would likely run out of cash early this year. Nikola was a hot startup and rising star on Wall Street before becoming enmeshed in scandal and seeing its founder convicted in 2022 for...

Say Goodbye to Quiksilver, Billabong, Volcom Stores

Brand operator blames inflation, competition from fast-fashion rivals

(Newser) - The company that operates Quiksilver, Billabong, and Volcom stores in the US says it can no longer compete with fast-fashion rivals in a tough retail environment. Liberated Brands has filed for Chapter 11 bankruptcy protection, and it plans to permanently close more than 100 stores on the US mainland selling...

Judge Blocks Sandy Hook Families' Settlement Deal

Christopher Lopez says he doesn't have authority to carve up Infowars assets for victims' families

(Newser) - Sandy Hook families will have to wait a little longer to recoup anything from Alex Jones. On Wednesday, a federal bankruptcy judge froze a settlement deal between families who say the conspiracy theorist spewed false claims regarding the 2012 mass shooting at Connecticut's Sandy Hook Elementary School, per Reuters...

The Container Store Files for Bankruptcy

Storage goods chain has been struggling to raise cash

(Newser) - The Container Store, a storage and organization goods retailer, has applied for bankruptcy protection while it reorganizes its finances. The Texas company is grappling with mounting losses and cash flow shortages, the AP reports. The chain has faced increasing competition from retailers like Target and Walmart at the same time...

Spirit Airlines Files for Bankruptcy

Discount flier continues to struggle

(Newser) - Spirit Airlines filed for bankruptcy on Monday, and it was unclear whether the discount flier would be able to survive the debt restructuring. What to know:
  • No changes: Those who have tickets or were looking to buy tickets are fine. "Guests can continue to book and fly without interruption
...

After Closings, Chain Files for Bankruptcy Protection

TGI Fridays says it's looking for long-term solutions

(Newser) - After closing dozens of its locations this month, TGI Fridays took the next step on Saturday by filing for bankruptcy protection. The restaurant chain said in a statement that it will look for ways to "ensure the long-term viability" of its brand during the Chapter 11 process, CNN reports....

End of an Icon? Tupperware Seeks Chapter 11 Bankruptcy
Judge Approves
Sale of Tupperware
UPDATED
Oct 30, 2024 12:30 AM CDT

Judge Approves Sale of Tupperware

Struggling brand previously filed for Chapter 11 bankruptcy

(Newser) - A US bankruptcy judge approved a sale of Tupperware Brands on Tuesday, paving the way for the iconic food-storage company to soon exit Chapter 11 protection and continue offering its products while undergoing a hoped-for revitalization, the AP reports. Under terms of the deal, which is still subject to closing...

True Value Declares Bankruptcy
True Value Files for Bankruptcy
Oct 15, 2024 1:30 AM CDT

True Value Files for Bankruptcy

Hardware chain's operations are being sold to a rival

(Newser) - A hardware company founded in 1948 is going out of business. True Value announced Monday that it has filed for Chapter 11 bankruptcy and that almost all of its assets and operations will be sold to a rival, Do it Best. However, True Value's 4,500 independently operated locations...

Interested in Buying Infowars? You'll Have Competition

Both Alex Jones' supporters and enemies are apparently vying to buy his site at auction

(Newser) - Alex Jones owes more than $1 billion to the families of Sandy Hook victims, the result of their defamation and emotional distress lawsuits against him for spreading conspiracy theories related to the 2012 massacre. Bidders are already champing at the bit to scoop up the assets he needs to sell...

Company That Built Titanic Goes Bankrupt
Titanic Shipbuilder
Goes Bankrupt
Sep 17, 2024 5:40 PM CDT

Titanic Shipbuilder Goes Bankrupt

Harland & Wolff says core operations won't be affected by filing

(Newser) - The company that built the Titanic has entered administration, the British equivalent of US Chapter 11 bankruptcy proceedings, for the second time in five years. Harland & Wolff said it had been left in a "difficult financial position" by the British government's rejection of a request for a...

Big Discount Retailer Files for Bankruptcy
Big Lots Files for Bankruptcy
Sep 9, 2024 10:40 AM CDT

Big Lots Files for Bankruptcy

Discount retailer has been struggling as consumers have been spending less

(Newser) - Discount retailer Big Lots filed for bankruptcy on Monday, unable to turn around a long losing stretch. The plan laid out in its Chapter 11 filing is to sell to Nexus Capital Management, reports CNN . No new store closings were announced, but the chain already was in the process of...

Red Lobster Sees End to Chapter 11 Protection
Judge Approves
Sale of Red Lobster
Sep 5, 2024 3:55 PM CDT

Judge Approves Sale of Red Lobster

Chain says it can see the end of bankruptcy protection

(Newser) - After months of dozens of restaurant closings and headlines about "endless shrimp" woes, Red Lobster is poised to soon exit from Chapter 11 bankruptcy protection. A US bankruptcy judge on Thursday approved the casual seafood chain's reorganization plan and sale to a lender group led by asset manager...

Red Lobster Is Shuttering More Restaurants

Nearly 2 dozen more around the country, amid chain's bankruptcy proceedings

(Newser) - The hope for Red Lobster that experts expressed just last month may be increasingly fading. After shuttering more than 100 of its locations earlier this summer amid bankruptcy proceedings, a recent court filing shows the seafood restaurant chain has just turned down the leases for 23 more sites and will...

There's Still Hope for Red Lobster
There's Still Hope
for Red Lobster
Jul 31, 2024 1:55 PM CDT

There's Still Hope for Red Lobster

Bankruptcy expert predicts chain will emerge 'stronger' after sale

(Newser) - Red Lobster has closed more than 100 of its roughly 650 US locations amidst bankruptcy, but the remainder can and likely will be saved, experts say. As of May 22, Red Lobster's website listed 99 locations in 28 states that had been closed. Another seven locations have since been...

Alex Jones: 'Infowars Is a Sinking Ship'

Sandy Hook families are also now going after the conspiracy theorist's social media accounts

(Newser) - Alex Jones has ceased fighting the liquidation of his assets to pay Sandy Hook families after he spread conspiracy theories about the 2012 school shooting in Newtown, Connecticut, that killed 26. Included in that liquidation is Jones' stake in his Infowars web program, but the families are now going after...

New Mugshot, '9/11 Lung Disease' Claim for Giuliani

Lawyers say he can't be forced to get a job

(Newser) - Rudy Giuliani's lawyers say he has "possible" lung disease related to his response to the 9/11 terrorist attacks as they argue he should not have to get a job to pay the $148 million defamation judgment against him. The former mayor of New York, who spent days at...

Alex Jones Decides to Stop Fighting Asset Liquidation

Sandy Hook families might finally see some cash

(Newser) - The Sandy Hook families to whom Alex Jones owes more than $1 billion might finally see some cash soon. CNN reports that the conspiracy theorist, "facing mounting legal pressure" from the families of the school massacre victims, has agreed to liquidate his personal assets. Jones has asked a judge...

Red Lobster Shutting a Bunch of Locations
Red Lobster Opts for
the 'Best Path Forward'
UPDATED
May 20, 2024 5:34 AM CDT

Red Lobster Opts for the 'Best Path Forward'

Seafood chain files for Chapter 11 bankruptcy protection

(Newser) - The whispers are now official: Red Lobster has filed for bankruptcy protection. The seafood restaurant chain announced Sunday that it filed for relief under Chapter 11, under a stalking-horse agreement in which Red Lobster will sell the business to an entity created and controlled by its existing term lenders, reports...

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