Latest Corporate bankruptcy News

This undated photo provided by Garrett Hade shows shows Hade at Recovery Fest hosted by Above The Noise Foundation event.  Hade, said he has been sober for nearly five years after a long odyssey through addiction that began with OxyContin when he was a teenager in Florida.  As an organizer with the Recovery Advocacy Project, Hade said he's telling people that they'll be able to make claims against Purdue Pharma. (Garrett Hade via AP)

Opioid victims can begin filing claims against Purdue Pharma

Jan. 24, 2020 4:38 PM EST

State and local governments have been leading the legal fight against the opioid industry, seeking payouts to help them deal with the fallout from the nation's addiction crisis. Average Americans are about to get their shot. On Friday, the federal judge overseeing the bankruptcy case of Purdue Pharma set a June...

Kentucky officials worry bankrupt mines may abandon cleanup

Jan. 24, 2020 2:08 PM EST

LEXINGTON, Ky. (AP) — Kentucky officials are concerned that two bankrupt coal companies could abandon their environmental obligations. At a hearing this week in West Virginia, officials said Blackjewel LLC and Revelation Energy might leave Kentucky taxpayers with a bill for millions in mine reclamation...

New coal mine operator behind on federal, county taxes

Jan. 24, 2020 12:10 AM EST

CASPER, Wyo. (AP) — The newest operator of three coal mines has fallen behind on federal and county mineral taxes, federal officials said. The Navajo Transitional Energy Company owes the federal government more than $10 million in unpaid taxes accrued from mining coal in three Powder River Basin mines in...

FILE - This Jan. 21, 2016 file photo shows the Belle Ayr Mine near Gillette, Wyo. The new owner of two Wyoming coal mines is at odds with the owner of two huge industrial shovels, a dispute that could affect the mines' ability to continue operating. Eagle Specialty Materials has been using Komatsu's shovels without permission and compensation, Komatsu alleged in a filing in U.S. bankruptcy court for southern West Virginia. Eagle Specialty Materials acquired the Eagle Butte and Belle Ayr mines in a bankruptcy sale in 2019. (AP Photo/Mead Gruver, File)

New Wyoming mine owner at odds with Komatsu over big shovels

Jan. 22, 2020 6:49 PM EST

GILLETTE, Wyo. (AP) — The new owner of two Wyoming coal mines is at odds with the owner of two huge industrial shovels, a dispute that could affect the mines' ability to continue operating. Eagle Specialty Materials has been using Komatsu's shovels without permission and compensation, Komatsu alleged in a...

Former CEO denies he took millions from bankrupt coal firm

Jan. 22, 2020 6:14 PM EST

GILLETTE, Wyo. (AP) — A former CEO denied he took millions of dollars from a bankrupt Wyoming coal producer, according to court records. Jeffrey Hoops Sr. says he went to extraordinary personal financial lengths in an attempt to save Blackjewel LLC, The Gillette News Record reported Tuesday. Lawyers for...

The exterior of a Krystal restaurant in Alabaster, Ala., is shown on Tuesday, Jan. 21, 2020, after the Georgia-based company sought federal bankruptcy protection. The company, which calls itself the South's oldest restaurant chain, is known for its tiny hamburgers and late-night service. (AP Photo/Jay Reeves)

Southern burger chain Krystal files for bankruptcy

Jan. 21, 2020 4:13 PM EST

BIRMINGHAM, Ala. (AP) — Krystal Co., the Georgia-based restaurant chain known for tiny hamburgers and late-night service across the Southeast, has filed for bankruptcy, but said Tuesday that all of its locations would remain open. Federal court documents showed Krystal sought Chapter 11 bankruptcy...

Washington lawmakers look to reduce hospital closure impact

Jan. 21, 2020 1:39 PM EST

YAKIMA, Wash. (AP) — A group of Washington state lawmakers are exploring ways to assist residents impacted by the closure of a regional medical center. Astria Regional Medical Center in Yakima announced its closure earlier this month as a result of financial instability, The Yakima Herald reported. Parent...

Atlantic City mayor: Tear down 'eyesore' of ex-Trump casino

Jan. 17, 2020 4:06 PM EST

ATLANTIC CITY, N.J. (AP) — Atlantic City's mayor wants to demolish the former Trump Plaza Hotel & Casino. Mayor Marty Small said in a speech Thursday to a business group that knocking down the vacant casino once owned by President Donald Trump is one of his main goals for 2020. It is currently owned...

Mine waste, air pollution on Idaho agency's expense concerns

Jan. 17, 2020 3:36 PM EST

BOISE, Idaho (AP) — The director of the Idaho Department of Environmental Quality said Friday that the agency needs money to clean up or contain past mining waste. John Tippets told the Legislature's powerful budget-setting committee that among the problems is another collapse at the abandoned Triumph Mine...

FILE- This Aug. 23, 2006, file photo shows a Payless store front is seen in Philadelphia. Payless ShoeSource has emerged from bankruptcy for the second time, with a focus on international markets. The Topeka, Kan.-based chain said Thursday, Jan. 16, 2020, that it wants to reinvigorate Latin America, its largest business unit. (AP Photo/Matt Rourke, File)

Payless ShoeSource emerges from Chapter 11 bankruptcy

Jan. 16, 2020 2:45 PM EST

NEW YORK (AP) — Payless ShoeSource has emerged from bankruptcy for the second time, with a focus on international markets. The Topeka, Kansas-based company said Thursday it wants to reinvigorate its largest business unit, Latin America, It will also relaunch its U.S. e-commerce site and open some stores...