Latest Corporate bankruptcy News

Barneys pens deal to sell assets to Authentic Brands

Oct. 17, 2019 3:41 PM EDT

NEW YORK (AP) — Luxury chain Barneys New York has penned a deal to sell its assets for $271.4 million to Authentic Brands Group, a licensing company that owns such brands as Nine West and Aeropostale, and investment bank B. Riley Financial Inc., according to court documents filed late Wednesday. The deal...

Today in History

Oct. 15, 2019 12:02 AM EDT

Today in History Today is Tuesday, Oct. 15, the 288th day of 2019. There are 77 days left in the year. Today's Highlight in History: On Oct. 15, 1991, despite sexual harassment allegations by Anita Hill, the Senate narrowly confirmed the nomination of Clarence Thomas to the U.S. Supreme Court, 52-48. On this...

Correction: Opioid Crisis-Purdue story

Oct. 14, 2019 4:55 PM EDT

WHITE PLAINS, N.Y. (AP) — In a story Oct. 11 about Purdue Pharma's bankruptcy case, The Associated Press reported erroneously the first name of the judge handling the case. It is Robert Drain, not Roberts Drain. A corrected version of the story is below: Judge will halt lawsuits against Purdue Pharma, its...

The Latest: Lawsuits paused against Purdue Pharma, Sacklers

Oct. 11, 2019 5:54 PM EDT

The Latest on the Purdue Pharma's bankruptcy case (all times local): 5:50 p.m. A judge has agreed to pause lawsuits against Purdue Pharma and the OxyContin maker's owners until next month with the intention of stopping suits longer so a settlement can be worked out to nearly 2,600 suits against the company. U.S....

States' position on the tentative opioid deal with Purdue

Oct. 11, 2019 5:44 PM EDT

State attorneys general have been divided nearly evenly over whether to accept a tentative deal to settle lawsuits against Purdue Pharma related to the nation's opioid crisis. States that oppose the tentative settlement, which could be worth as much as $12 billion over time, wanted to continue their lawsuits...

Blackhawk Mining closes 3 West Virginia coal mines

Oct. 9, 2019 9:16 AM EDT

CHARLESTON, W.Va. (AP) — Blackhawk Mining says it's closing three mines and two preparation plants in West Virginia amid weak global coal markets. The Kentucky-based coal company on Tuesday announced the idling of its facilities in Logan and Mingo counties. The move will impact 342 employees. Blackhawk...

California faces historic power outage due to fire danger

Oct. 8, 2019 10:05 PM EDT

SAN FRANCISCO (AP) — Millions of people were poised to lose electricity throughout northern and central California after Pacific Gas & Electric Co. announced Tuesday it would shut off power in the largest preventive outage in state history to try to avert wildfires caused by faulty lines. PG&E said...

Purdue opioid deal blasted as records show $13B to Sacklers

Oct. 4, 2019 8:25 PM EDT

Attorneys general representing nearly half the states and lawyers for more than 500 local governments on Friday blasted the terms of Purdue Pharma's offer to settle thousands of lawsuits over the nation's opioid crisis in court filings that also said the company had funneled up to $13 billion to its controlling...

States say OxyContin maker Purdue should not pay bonuses

Oct. 3, 2019 5:27 PM EDT

WHITE PLAINS, N.Y. (AP) — OxyContin maker Purdue Pharma should be prohibited from giving $38 million in employee payouts as it goes through bankruptcy, attorneys general from 24 states said in a court filing Thursday. Purdue has said it needs to make bonus payments to keep employees and maintain operations...

Forever 21 bankruptcy reflects teens' new shopping behavior

Sep. 30, 2019 5:14 PM EDT

NEW YORK (AP) — For years, teens flocked to Forever 21's massive stores at the nation's malls for its speedy take on fashion, like its $5 shimmery halter tops and $25 dresses. But the chain that helped popularize so-called fast fashion has moved too slow for a new generation of young customers. The Los...