Latest Corporate bankruptcy News

Minnesota men learning fate for North Dakota stock scheme

Dec. 17, 2018 1:25 PM EST

MINNEAPOLIS (AP) — A Minnesota man who helped found a business in North Dakota's oil patch has been sentenced to 12 years in prison for fraud in a stock manipulation scheme. His co-defendant will learn his fate later this week. Ryan Gilbertson, 42, on Dec. 11 also was fined $2 million and ordered to pay...

Boy Scouts' money struggles: Is bankruptcy an option?

Dec. 13, 2018 5:12 PM EST

NEW YORK (AP) — The Boy Scouts of America deflected questions about a report suggesting it is considering seeking bankruptcy protection, though the head of the organization said it is exploring "all options" as it tries to stay afloat while facing sexual abuse lawsuits and dwindling membership. "I want to...

Sears' biggest holder bids $4.6B for rest of bankrupt chain

Dec. 6, 2018 4:07 PM EST

NEW YORK (AP) — Eddie Lampert and his ESL Holdings hedge fund are offering to buy the rest of Sears for up to $4.6 billion in cash and stock in a move to stave off liquidation. The Sears chairman and ESL founder own just under half of the Hoffman Estates, Illinois, company, according to FactSet. Sears...

USA Gymnastics files for bankruptcy after sex-abuse scandal

Dec. 5, 2018 5:48 PM EST

USA Gymnastics is turning to bankruptcy in an attempt to ensure its survival. The embattled organization filed a Chapter 11 bankruptcy petition on Wednesday in an effort to reach settlements in the dozens of sex-abuse lawsuits it faces and to avoid its potential demise at the hands of the U.S. Olympic Committee....

Today in History

Dec. 2, 2018 12:03 AM EST

Today in History Today is Sunday, Dec. 2, the 336th day of 2018. There are 29 days left in the year. Today's Highlight in History: On Dec. 2, 1982, in the first operation of its kind, doctors at the University of Utah Medical Center implanted a permanent artificial heart in the chest of retired dentist Dr. Barney...

State takes over failing insurer after California wildfire

Nov. 30, 2018 8:49 PM EST

SACRAMENTO, Calif. (AP) — California regulators moved Friday to take over an insurance company that can't pay out all claims following a massive wildfire that destroyed more than 13,000 homes. Merced Property & Casualty Company was pushed to insolvency by the fire that sparked Nov. 8 and nearly...

Retailers aim to pick up business from defunct, dying rivals

Nov. 21, 2018 12:41 PM EST

NEW YORK (AP) — Toys R Us and Bon-Ton may be gone but they haven't been forgotten. Companies like Target and online mattress company Casper are creating playbooks to pick up market share that those and other defunct or dying retailers left behind. Casper, for instance, is teaming up with department stores...

Lowe's reports disappointing sales; to exit Mexico

Nov. 20, 2018 5:41 PM EST

NEW YORK (AP) — Lowe's Cos. reported disappointing numbers for a key sales measure in the third quarter and said it would exit its Mexico operations in its bid to compete better with home improvement leader Home Depot. The home improvement chain said Tuesday it would also exit its contracting service,...

David's Bridal files for bankruptcy, but your order is safe

Nov. 19, 2018 1:49 PM EST

David's Bridal is filing for bankruptcy protection but there is no danger for customers who have ordered dresses because operations continuing as normal while the wedding and prom retailer restructures. The bankruptcy filing, the private company said Monday, will wipe out more than $400 million in long-term debt....

Bankrupt company has sale plans for 3 Mississippi hospitals

Nov. 16, 2018 8:18 PM EST

JACKSON, Miss. (AP) — Three different operators have plans to take over north Mississippi hospitals from bankrupt operator Curae Health, which could guarantee all three stay open despite an earlier threat to close one. Curae, based in Knoxville, Tennessee, bought hospitals in Amory, Batesville and...