Latest Corporate bankruptcy News

Talks to restructure Puerto Rico power company debt fail

Sep. 17, 2022 14:01 PM EDT

HAVANA (AP) — Mediation talks to restructure more than $9 billion in debt held by Puerto Rico’s power company failed, officials announced Saturday, raising concerns about the future of the bankrupt government agency. A federal control board that oversees Puerto Rico’s finances...

Panthers withdraw city, county deal over abandoned facility

Sep. 14, 2022 17:20 PM EDT

COLUMBIA, S.C. (AP) — Carolina Panthers owner David Tepper’s real estate company wants to revoke a bankruptcy settlement it negotiated with the city and county where its abandoned South Carolina practice facility was supposed to be built because it says the governments are making exorbitant and...

US withdraws polluted Montana site from new mining

Sep. 13, 2022 17:42 PM EDT

BILLINGS, Mont. (AP) — U.S. officials have withdrawn parcels of public land near the Fort Belknap Indian Reservation in Montana from future mining to protect a reclamation area where more than $80 million has been spent to clean up past mining contamination. Mining will be barred...

Fraud charges dropped against 2 former Celadon executives

Sep. 08, 2022 15:29 PM EDT

INDIANAPOLIS (AP) — Federal fraud charges have been dropped against two former executives at an Indianapolis-based trucking and transportation company that filed for bankruptcy days after the charges were filed in 2019. In a court filing last month, the U.S. Department of Justice...

Movie chain Cineworld files for Chapter 11 bankruptcy

Sep. 07, 2022 12:33 PM EDT

Movie theater operator Cineworld Group LLC has filed for Chapter 11 bankruptcy protection in the U.S. as it deals with billions of dollars in debt and lower-than-expected attendance at screenings. “The pandemic was an incredibly difficult time for our business, with the enforced...

Cineworld considers bankruptcy as cinema struggles continue

Aug. 24, 2022 07:37 AM EDT

LONDON (AP) — Conditions are dimming at many movie theaters around the world. Cineworld Group PLC, one of the industry's biggest theater operators, confirmed Monday that it's considering filing for Chapter 11 bankruptcy protection in the U.S., as it contends with billions of...

Regional airline operator ExpressJet files for bankruptcy

Aug. 23, 2022 19:11 PM EDT

WILMINGTON, Del. (AP) — Nevada-based discount airline aha! has stopped flying after its parent, ExpressJet Airlines, filed for bankruptcy protection and said it would sell its assets. ExpressJet said it faced lower-than-expected revenue because demand for travel weakened with new...

Wendy's, Cinemark fall; Signify, Kroger rise

Aug. 22, 2022 16:14 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: Signify Health Inc., up $6.80 to $28. Amazon is reportedly considering placing a bid on the healthcare technology company. Wendy’s Co., down $1.22 to $19.93. ...

J&J to end sales of baby powder with talc globally next year

Aug. 12, 2022 09:20 AM EDT

Johnson & Johnson is pulling baby powder containing talc worldwide next year after it did the same in the U.S. and Canada amid thousands of lawsuits claiming it caused cancer. Talc will be replaced by cornstarch, the company said. The company has faced litigation...

Panthers propose to pay $82M over failed practice facility

Aug. 11, 2022 15:23 PM EDT

ROCK HILL, S.C. (AP) — Carolina Panthers owner David Tepper’s real estate company has proposed to pay more than $82 million to creditors over an abandoned practice facility project in Rock Hill under a new plan proposed Thursday. The plan would require approval from courts and...