Latest Corporate bankruptcy News

Atlantic City mayor: Tear down 'eyesore' of ex-Trump casino

Jan. 17, 2020 4:06 PM EST

ATLANTIC CITY, N.J. (AP) — Atlantic City's mayor wants to demolish the former Trump Plaza Hotel & Casino. Mayor Marty Small said in a speech Thursday to a business group that knocking down the vacant casino once owned by President Donald Trump is one of his main goals for 2020. It is currently owned...

Mine waste, air pollution on Idaho agency's expense concerns

Jan. 17, 2020 3:36 PM EST

BOISE, Idaho (AP) — The director of the Idaho Department of Environmental Quality said Friday that the agency needs money to clean up or contain past mining waste. John Tippets told the Legislature's powerful budget-setting committee that among the problems is another collapse at the abandoned Triumph Mine...

FILE- This Aug. 23, 2006, file photo shows a Payless store front is seen in Philadelphia. Payless ShoeSource has emerged from bankruptcy for the second time, with a focus on international markets. The Topeka, Kan.-based chain said Thursday, Jan. 16, 2020, that it wants to reinvigorate Latin America, its largest business unit. (AP Photo/Matt Rourke, File)

Payless ShoeSource emerges from Chapter 11 bankruptcy

Jan. 16, 2020 2:45 PM EST

NEW YORK (AP) — Payless ShoeSource has emerged from bankruptcy for the second time, with a focus on international markets. The Topeka, Kansas-based company said Thursday it wants to reinvigorate its largest business unit, Latin America, It will also relaunch its U.S. e-commerce site and open some stores...

FILE - In this Oct. 31, 2019, file photo, smoke from the Maria Fire billows above Santa Paula, Calif. Federal officials are prepared to bill wildfire victims for a portion of the nearly $4 billion the government says it's owed by Pacific Gas & Electric Co., if the debt isn't resolved as part of the utility's bankruptcy case, according to a newspaper report Sunday, Jan. 12, 2020. (AP Photo/Noah Berger, File)

Report: Feds to bill fire victims if utility doesn't pay $4B

Jan. 12, 2020 2:53 PM EST

SAN FRANCISCO (AP) — Federal officials are prepared to bill wildfire victims for a portion of the nearly $4 billion the government says it's owed by Pacific Gas & Electric Co., if the debt isn't resolved as part of the utility's bankruptcy case, according to a newspaper report Sunday. The Federal...

Bankrupt coal company Blackjewel accuses former CEO of fraud

Jan. 11, 2020 4:07 PM EST

CASPER, Wyo. (AP) — Attorneys for bankrupt coal company Blackjewel LLC and its creditors are asking a federal judge to let them examine the finances of former CEO Jeff Hoops, alleging that he took millions of dollars for personal gain, according to court documents. In documents filed Friday in U.S....

West Virginia hospital group eyes bankruptcy, not closing

Jan. 11, 2020 11:00 AM EST

CHARLESTON, W.Va. (AP) — A West Virginia hospital system announced Friday that it is filing for Chapter 11 bankruptcy, but assured that it is not closing its doors. According to the Charleston Gazette-Mail, Thomas Health said in a news release Friday that it is hoping to lessen its debt. In West Virginia,...

FILE - This June 25, 2017 file, photo shows TK Holdings Inc. headquarters in Auburn Hills, Mich. Takata is recalling 10 million more front air bag inflators sold to 14 different automakers because they can explode with too much force and hurl shrapnel. The recall is the last one the bankrupt company agreed to in a 2015 settlement with U.S. safety regulators. It could bring to a close the largest series of recalls in U.S. history. (AP Photo/Paul Sancya, File)

Takata recall of 10M inflators could be last of air bag saga

Jan. 8, 2020 6:54 PM EST

DETROIT (AP) — Takata is recalling 10 million more front air bag inflators sold to 14 different automakers because they can explode with too much force and hurl shrapnel. The recall is the last one the bankrupt company agreed to in a 2015 settlement with the U.S. safety regulators. It could bring to a...

Coal producer announces pending layoffs of 65 workers in WVa

Jan. 7, 2020 7:37 PM EST

CHARLESTON, W.Va. (AP) — A coal producer has given notice that it plans to lay off 65 workers in southern West Virginia in March. Panther Creek Mining LLC issued the layoff notice for its operations in Eskdale, the Kanawha County Commission said in a news release Tuesday. Panther Creek was part of...

Montana grants 65-day extension for Navajo-owned coal mine

Jan. 7, 2020 6:06 PM EST

CHEYENNE, Wyo. (AP) — A Navajo Nation company may continue operating a coal mine for two more months amid ongoing negotiations over the terms of a state permit, Montana officials announced Tuesday in granting an extension that keeps about 300 miners at work. The Montana Department of Environmental Quality...

Laid off Kentucky coal miners say final wages remain unpaid

Jan. 7, 2020 8:15 AM EST

PINEVILLE, Ky. (AP) — Employees laid off from a Kentucky coal company last month say they haven't received their final paycheck or payment for unused vacation days, according to a former company manager. About 75 Perry County Coal employees didn't receive their final paychecks, and the remaining...