Latest Corporate bankruptcy News

Sears CEO: Retailer needs to sell more real estate

Sep. 24, 2018 11:47 AM EDT

NEW YORK (AP) — The hedge fund owned by Sears Holdings Corp. CEO Eddie Lampert is urging the retailer's board to sell more of its real estate and restructure its debt, as it seeks to avoid bankruptcy. ES Investment Hedge Fund said Monday that Sears should sell $1.5 billion more in real estate and...

Celebrity chef accused of harassment files for bankruptcy

Sep. 7, 2018 8:48 AM EDT

WASHINGTON (AP) — Celebrity chef Mike Isabella once had more than a dozen restaurants in the Washington area. Now he's filed for bankruptcy after a sexual harassment lawsuit. The Washington Post reports the "Top Chef" alum filed for bankruptcy protection for his businesses on Thursday. The March lawsuit by...

Lego earnings hurt by Toys R Us closures

Sep. 4, 2018 5:21 AM EDT

COPENHAGEN, Denmark (AP) — Lego said Tuesday its revenue dipped in the first half of 2018, with business in North America hurt by changes in the retail industry such as the bankruptcy of store chain Toys R Us. The privately-held company says revenue fell 5 percent to 14.3 billion kroner ($2.2 billion) in...

Mississippi hospitals and owner seek bankruptcy, to be sold

Aug. 28, 2018 6:17 PM EDT

AMORY, Miss. (AP) — Three Mississippi hospitals, their physician practices and a Tennessee parent company are filing for bankruptcy, citing more than $70 million in debts. Curae Health of Knoxville, Tennessee, filed for Chapter 11 bankruptcy reorganization in Nashville, Tennessee, on Monday. The nonprofit...

Elon Musk says cutting back on work hours isn't an option

Aug. 19, 2018 4:14 PM EDT

Arianna Huffington is calling on Elon Musk to adopt a healthier work-life balance, but the Tesla CEO says that's not an option. In a tweet early Sunday after arriving home from a late night at a Tesla factory, Musk told the Huffington Post founder that his electric car company and Ford are the only two American...

The Latest: Apple surges to $1 trillion in market value

Aug. 2, 2018 8:43 PM EDT

SAN FRANCISCO (AP) — The Latest on Apple reaching a market value of $1 trillion (all times local): 1:00 p.m. Apple is worth $1,001,679,220,000. The maker of the iPhone and other gadgets became the world's first publicly traded company with a market value of $1 trillion on Thursday. The company reached the...

Brookstone files for Ch.11 bankruptcy protection again

Aug. 2, 2018 11:31 AM EDT

Brookstone, the ubiquitous seller of cool but largely unneeded things, has filed for Chapter 11 bankruptcy protection again and will close the 101 of its stores that are located in malls. Malls have suffered for years due to far-reaching shifts in the way that Americans shop for just about everything, which has...