Latest Corporate bankruptcy News

FILE - In this Feb. 11, 2020, file photo a Pacific Gas & Electric truck leaves the company's Oakland Service Center in Oakland, Calif. Pacific Gas and Electric said Tuesday, Feb. 18, that it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. (AP Photo/Ben Margot, File)

PG&E banking on big profits after utility leaves bankruptcy

Feb. 18, 2020 4:33 PM EST

Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. The nation's largest utility shared its rosy outlook on Tuesday, along with its sobering...

In this Wednesday, Feb. 12, 2020, photo, a statue stands outside the Boys Scouts of America headquarters in Irving, Texas. The Boy Scouts of America has filed for bankruptcy protection as it faces a barrage of new sex-abuse lawsuits. The filing Tuesday, Feb. 18, in Wilmington, Delaware, is an attempt to work out a potentially mammoth compensation plan for abuse victims that will allow the 110-year-old organization to carry on. (AP Photo/LM Otero)

Boy Scouts seek bankruptcy, urge victims to step forward

Feb. 18, 2020 3:21 PM EST

The Boy Scouts of America urged victims to come forward Tuesday as the historic, 110-year-old organization filed for bankruptcy protection in the first step toward creating a huge compensation fund for potentially thousands of men who were molested as youngsters decades ago by scoutmasters or other leaders. The...

A customer steps out of a Pier 1 Imports store which was having a closeout sale, Monday, Feb. 17, 2020, in Larchmont, N.Y. Home goods retailer Pier 1 Imports Inc. filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company, which was founded in 1962, has recently struggled with increased competition from online retailers such as Wayfair. (AP Photo/Julie Jacobson)

Pier 1 files for bankruptcy protection amid online challenge

Feb. 17, 2020 7:17 PM EST

Pier 1 Imports Inc. — the once-trendy supplier of home goods like papasan chairs and throw pillows — filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company has been struggling with increased competition from budget-friendly online retailers like...

FILE - This Oct. 14, 2009 file photo, shows copies of the McClatchy Co. owned Miami Herald newspaper in Miami. McClatchy Co., the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the country is filing for bankruptcy protection. McClatchy Co. said Thursday, Feb. 13, 2020, that it will continue to run normally as it pursues approval of its restructuring plan under Chapter 11.   (AP Photo/Wilfredo Lee, File)

Newspaper chain McClatchy files for bankruptcy protection

Feb. 13, 2020 3:07 PM EST

NEW YORK (AP) — McClatchy, the publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers, has filed for bankruptcy protection as it struggles to pay off debt while revenue shrinks because more readers and advertisers are going online. McClatchy said Thursday that its 30 newspapers...

FILE - IN this Oct. 14, 2009 file photo, copies of the McClatchy Co. owned Miami Herald newspaper are shown in Miami.  The publisher of the Miami Herald, The Kansas City Star and dozens of other newspapers across the country has filed for bankruptcy protection, Thursday, Feb. 13, 2020. McClatchy Co.'s 30 newsrooms will continue to operate as usual as the publisher reorganizes under Chapter 11 bankruptcy protection.   (AP Photo/Wilfredo Lee, File)

McClatchy has 30 papers in 14 states, operations continue

Feb. 13, 2020 12:51 PM EST

McClatchy, which filed for Chapter 11 bankruptcy protection Thursday, operates 30 newspapers in 14 states. The newspapers include The Miami Herald and The Kansas City Star and will continue to operate as McClatchy reorganizes under bankruptcy protection, according to the company. The publisher’s origins...

A Pacific Gas & Electric truck leaves the company's Oakland Service Center Tuesday, Feb. 11, 2020, in Oakland, Calif. Pacific Gas & Electric's plan to emerge from bankruptcy faced another threat from California Gov. Gavin Newsom during a Tuesday court hearing that set the stage for a potentially dramatic showdown later this month. Newsom's lawyers told U.S. Bankruptcy Judge Dennis Montali they want to grill PG&E about the company's plans to borrow billions of dollars and sell more stock to help pay the $13.5 billion owed to more than 75,000 victims of catastrophic wildfires ignited by the utility's equipment and negligence. (AP Photo/Ben Margot)

California governor wants to grill PG&E about financing plan

Feb. 11, 2020 6:34 PM EST

SAN FRANCISCO (AP) — Pacific Gas & Electric's plan to emerge from bankruptcy faced another threat from California Gov. Gavin Newsom during a Tuesday court hearing that set the stage for a potentially dramatic showdown later this month. Newsom's lawyers told U.S. Bankruptcy Judge Dennis Montali they...

Leading Kentucky hemp processor files for bankruptcy

Feb. 6, 2020 7:45 PM EST

FRANKFORT, Ky. (AP) — A bankruptcy filing by a leading hemp processor strikes a “gut punch" to the fledgling industry as it tries to secure a foothold in Kentucky, the state's agriculture commissioner said Thursday. GenCanna Global USA Inc. announced it has filed a bankruptcy petition to work out a...

FILE - In this Oct. 31, 2019, file photo, smoke from the Maria Fire billows above Santa Paula, Calif. A federal judge has approved a settlement that moves Pacific Gas & Electric closer to getting out of bankruptcy. The company cleared its latest hurdle Tuesday, Feb. 4, 2020, when U.S. Bankruptcy Judge Dennis Montali signed off on a deal to refinance billions of dollars in debt to pay off PG&E bondholders who threatened to cause problems. (AP Photo/Noah Berger, File)

PG&E clears another bankruptcy hurdle with debt refinancing

Feb. 4, 2020 6:43 PM EST

SAN FRANCISCO (AP) — A federal judge on Tuesday approved a settlement that moves Pacific Gas & Electric closer to getting out of bankruptcy, but the troubled utility still must navigate nettlesome obstacles from the state of California. U.S. Bankruptcy Judge Dennis Montali signed off on the deal to...

FILE - In this Jan. 22, 2020, file photo a store front is closed below an Express retail clothing store in Valley West Mall in West Des Moines, Iowa. On Tuesday, Jan. 28, the Conference Board reports on U.S. consumer confidence for January. (AP Photo/Andrew Harnik, File)

Mall owners among group bidding $81 million for Forever 21

Feb. 3, 2020 12:09 PM EST

A consortium of buyers, including mall owners Simon Property Group and Brookfield Property Partners, is bidding $81 million for Forever 21, the ubiquitous mall staple that filed for bankruptcy protection in September. Simon and Brookfield are Forever 21's biggest landlords. The other bidder is Authentic Brands...

FILE - This Dec. 16, 2017, file photo provided by the Santa Barbara County Fire Department shows flames burning near power lines in Montecito, Calif. Pacific Gas and Electric is promising promising to overhaul its board of directors in an attempt to avoid a potential takeover attempt by the state of California and prove the beleaguered utility is turning over a new leaf as it works through its second bankruptcy in less than 20 years. The promise to shake things up came late Friday, Jan. 31, 2020, as the San Francisco company tries to emerge from bankruptcy by June 30. (Mike Eliason/Santa Barbara County Fire Department via AP, File)

PG&E pledges to shake up board in bid to placate California

Feb. 1, 2020 5:39 PM EST

SAN FRANCISCO (AP) — Pacific Gas and Electric is pledging to overhaul its board of directors in an attempt to avoid a potential takeover by the state of California and prove the nation's largest utility is turning over a new leaf as it works through its second bankruptcy in less than 20 years. The promise...