Latest Corporate bankruptcy News

FILE - This Feb. 29, 2020 file photo, National Rifle Association Executive Vice President and CEO Wayne LaPierre speaks at Conservative Political Action Conference, CPAC 2020, at the National Harbor, in Oxon Hill, Md. Houston. The National Rifle Association announced Friday, Jan. 15, 2021, it has filed for bankruptcy and will seek to incorporate the nation’s most politically influential gun-rights group in Texas instead of New York. (AP Photo/Jose Luis Magana, File)

NRA declares bankruptcy, plans to incorporate in Texas

Jan. 15, 2021 11:02 PM EST

AUSTIN, Texas (AP) — The National Rifle Association announced Friday it has filed for bankruptcy protection and will seek to incorporate the nation’s most politically influential gun-rights group in Texas instead of New York, where a state lawsuit is trying to put the organization out of business....

Kansas City, Illinois sue ATF over arms manufacturer license

Jan. 15, 2021 5:52 PM EST

KANSAS CITY, Mo. (AP) — Kansas City and the state of Illinois filed a lawsuit Friday against a federal agency that awarded a license to an arms manufacturer that was sued last year for illegally selling guns and went bankrupt. The lawsuit alleges the Bureau of Bureau of Alcohol, Tobacco, Firearms and...

Holiday sales tick up as shoppers invest in their homes

Dec. 26, 2020 4:56 PM EST

NEW YORK (AP) — Retail sales increased a modest 3% during a longer holiday season this year, as homebound shoppers spent more on furnishing and food but less on clothing and jewelry, according to figures released Saturday by a firm that tracks all forms of payments. The increase fell short of predictions...

Judge denies Blackjewel coal's request to liquidate assets

Dec. 22, 2020 4:06 AM EST

CHARLESTON, W.Va. (AP) — A bankrupt coal operator's request to liquidate its assets has been denied by a federal judge in West Virginia. Blackjewel filed for Chapter 11 reorganization bankruptcy in July 2019 and mostly halted operations. The company had sought to convert to Chapter 7, which would allow it...

A Target employee places a curbside pickup purchase into the trunk of a customer in Jackson, Miss., Thursday, Nov. 5, 2020.  After a weak start to the holiday season for many mall-based retailers, the strugglers are making their final push in the final days before and the week after Christmas. Many are stepping up discounts while heavily promoting curbside pickup as a way to get shoppers, worried about being infected with  the virus,  to visit their stores. But experts believe that any burst of sales will be too little and too late to save some stores.  (AP Photo/Rogelio V. Solis)

The holidays could make or break struggling stores

Dec. 21, 2020 2:57 PM EST

NEW YORK (AP) — Clothing stores and specialty retailers are offering big discounts and heavily promoting curbside pickup in hopes of rescuing a lackluster holiday shopping season in which surging coronavirus cases have kept many shoppers at home. For some, it could be their last chance at survival. And...

A man entering the national library in The Hague, Netherlands, Tuesday, Dec. 1, 2020, passes a sign informing visitors to wear mandatory face masks. Wearing face masks in publicly accessible indoor venues such as libraries, museums became obligatory in the Netherlands on Dec. 1, 2020, when a new temporary law underpinning existing government coronavirus restrictions came into force. (AP Photo/Peter Dejong)

Dutch government pledges new support to virus-hit businesses

Dec. 9, 2020 5:46 AM EST

THE HAGUE, Netherlands (AP) — The Dutch government on Wednesday beefed up its financial support by 3.7 billion euros ($4.5 billion) for businesses slammed by the country’s partial lockdown measures. The latest lifeline comes on top of 33.7 billion euros in support the government earlier pledged to...

FILE - In this Friday, March 20, 2020 file photo, a shopper leaves the Target Store on 34th St. with supplies as carpenter board up the Sephora story in New York.  Target Corp. said Friday it will give a $2 an hour wage increase to its 300,000-plus workers who have been scrambling to help customers. The pay bump will be effective at least through May 2. (AP Photo/Mary Altaffer, File)

Sephora to take over cosmetics in Kohl's stores

Dec. 1, 2020 11:48 AM EST

NEW YORK (AP) — Sephora will be replacing all cosmetics areas at Kohl's with 2,500 square foot shops, starting with 200 locations in the fall of year. It will expand to at least 850 stores by 2023, the companies announced Tuesday. It is the second major partnership announced this month that pairs a...

A woman wearing a face mask walks past the Debenhams flagship department store on Oxford Street, during England's second coronavirus lockdown in London, Tuesday, Dec. 1, 2020. In another dark day for the British retailing industry, Debenhams said Tuesday it will start liquidating its business after a potential buyer of the company pulled out, a move that looks like it will cost 12,000 workers their jobs. (AP Photo/Matt Dunham)

In dark day for UK retailing, 242-year-old Debenhams to shut

Dec. 1, 2020 10:22 AM EST

LONDON (AP) — The future of around 25,000 retailing jobs in Britain hangs in the balance after the failure of two long-established companies laid bare the fragility of much of the sector during the coronavirus pandemic. Long-suffering Debenhams, the 242-year-old department store chain, said Tuesday that...

People wearing face masks to try to curb the spread of coronavirus walk past the temporarily closed Topshop flagship store on Oxford Street, during England's second coronavirus lockdown, in London, Monday, Nov. 30, 2020. Arcadia Group, the retail empire of tycoon Philip Green, which owns well-known British fashion chains like Topshop and employs around 15,000 people, appears to be on the brink of collapse following the economic shock of the coronavirus pandemic. (AP Photo/Matt Dunham)

Philip Green's retail empire Arcadia calls in administrators

Nov. 30, 2020 4:37 PM EST

LONDON (AP) — Arcadia Group, the sprawling British retail empire that includes Topshop and has been run by billionaire Philip Green since 2002, was placed into a type of bankruptcy protection on Monday, a move that effectively puts around 13,000 jobs at risk. In another blow to the country's retail...

Black Friday shoppers wear face masks as the leave Saks Fifth Avenue flagships store empty handed, Friday, Nov. 27, 2020, in New York. (AP Photo/Mary Altaffer)

Virus keeps Black Friday crowds thin, shoppers shift online

Nov. 27, 2020 6:57 PM EST

NEW YORK (AP) — The raging coronavirus pandemic kept crowds thin at malls and stores across the country on Black Friday, but a surge in online shopping offered a beacon of hope for struggling retailers after months of slumping sales and businesses toppling into bankruptcy. In normal times, Black Friday is...