bankruptcy.

Joann’s, Party City, Big Lots—profitable, but all headed for bankruptcy. Private Equity loads them with toxic debt, walks away rich.

Trump promises to close loophole—will America be robbed again? 🚨🇺🇸 WALL STREET IS COLLAPSING COMPANIES FOR PROFIT—AGAIN Joann’s, Party City, Big Lots—profitable stores, but all going bankrupt. Why? Because Private Equity loaded them with debt they knew they couldn’t survive. They call it “back floating rate debt”—adjustable-rate loans… pic.twitter.com/atsndgOeHk — Mario Nawfal (@MarioNawfal) March 17, …

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Forever 21 is next on chopping block with nearly 200 store closures in second bankruptcy

Forever 21, the prominent fast-fashion retailer, is preparing to shutter approximately 200 additional stores as it approaches a potential second bankruptcy filing, which could occur as early as next month. This move comes as the company struggles to find a suitable buyer for its remaining operations; without one, the entire chain of around 350 stores …

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Multi billion dollar green tech giant Nikola files for bankruptcy

Nikola filed for bankruptcy protection after failing to secure a buyer or raise additional funds to maintain operations. The filing marks the finale of the company’s yearslong fall from grace. Nikola’s core products are all-electric and fuel cell electric semitrucks. At its peak in 2020, Nikola was valued more than Ford Motor at $30 billion, …

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Quiksilver Billabong files for bankruptcy.

All Quiksilver, Billabong and Volcom stores in the United States will close after their operator filed for bankruptcy protection. Altogether over 100 stores for the brands, that sell apparel for skaters, surfers and snowboarders, will close their doors. Liberated Brands filed a voluntary petition for Chapter 11 bankruptcy protection Sunday in U.S. Bankruptcy Court in …

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Judge blocks Sandy Hook families’ settlement in Alex bankruptcy: ‘I can’t do that’

A US bankruptcy judge on Wednesday blocked a settlement between families who have sued Alex Jones over his false claims about the 2012 Sandy Hook Elementary School mass shooting, saying their attempt to divide the bankrupt conspiracy theorist’s assets exceeded his court’s authority. The decision complicates a proposed sale of Jones’ Infowars platform, and could …

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TGIF closes down more stores in 3 states as ex CEO navigates bankruptcy

TGI Fridays has quietly shuttered multiple locations across three states as the struggling restaurant chain navigates Chapter 11 bankruptcy. Local reports found closures at four Las Vegas locations, two Long Island outposts, and several Pennsylvania storefronts. The company has not publicly commented on the latest round of shutdowns and did not respond to a request …

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Major national retailer with 850 stores mulls bankruptcy – prompting fears of mass closures

A major party and craft retailer with 850 stores across the nation is considering filing for bankruptcy. Party City has been faced with the possibility of mass closures just a little over a year after the company surfaced from Chapter 11 bankruptcy. The celebration retailer, known for selling balloons and essential party supplies, is currently …

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Crypto miner Mawson pushed into bankruptcy court by creditors

Mawson Infrastructure Group, a company known for its role in building data centers for Bitcoin miners and artificial intelligence, is under attack from creditors. With its cash reserves falling below $6 million, creditors in Australia, including W Capital Advisors and Marshall Investments, have filed a Chapter 11 petition in Delaware. The creditors claim the mining …

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CHINA! The ‘real reason’ for Nissan collapse revealed as car manufacturer’s finance chief steps down amid bankruptcy battle

heap Chinese electric vehicles are being blamed for the collapse of car manufacturer Nissan. The Japanese auto firm, which employs 7,000 people in the UK and 17,000 in the US, has embarked on a huge cost-cutting programme after suffering heavy losses. Nissan said last month it would axe 9,000 jobs and 20 per cent of …

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Stoli vodka files for bankruptcy in the United States

Stoli Group USA, the owner of the namesake vodka, has filed for bankruptcy as it struggled to contend with slowing demand for spirits, a major cyberattack that has snarled its operations and several years of fighting Russia in court. The company in its bankruptcy filing said it is “experiencing financial difficulties” and lists between $50 …

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US Debt Could Hit $40 Trillion in 2 Years, With Growing Calls For Cuts. Musk Warns “America Is Headed For Bankruptcy SUPER FAST!”

At the current pace, US debt could hit $40 trillion within the next 2 years. Calls for major spending cuts are growing, but not being acted on yet. We are on an unsustainable fiscal path. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) November 27, 2024 Over $70 …

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Red Lobster CEO has said that endless shrimp is never coming back after emerging from bankruptcy

Red Lobster is trying to change the tides in its post-bankruptcy era. In May, the casual seafood dining chain filed for Chapter 11 bankruptcy after closing dozens of restaurants, which gave it time to address “several financial and operational challenges,” its former CEO Jonathan Tibus said in a statement. One of the major blunders made by Red Lobster …

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Popular pizza chain files for Chapter 11 bankruptcy

The pizza restaurant sector has faced economic hardship and several bankruptcy filings in 2024, as a result of the lingering effects of the Covid-19 pandemic, inflation that led to rising food and labor costs, and changes in consumer attitudes toward dining. Seattle-based Mod Pizza is one chain that faced financial distress and considered a bankruptcy …

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Automotive Finance Company; VROOM Files for Bankruptcy

Auto financing firm Vroom (NASDAQ:VRM) filed for Chapter 11 bankruptcy protection on Wednesday in a Texas court as the cash-strapped company attempts to restructure more than $300M in debt. The bankruptcy comes in the wake of Vroom’s (VRM) agreement with creditors to enter a Restructuring Support Agreement that would convert $290M of unsecured convertible senior …

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Furniture sales plummet, prompting 55% discounts and widespread bankruptcy fears nationwide.

Furniture sales in the U.S. have plummeted, signaling a significant downturn in the industry. In January 2024 alone, sales at furniture stores dropped by 9.8% compared to the previous year. This decline is prompting many retailers to hold going-out-of-business sales, particularly among smaller retailers struggling to stay afloat. Consumers are shifting their spending habits, moving …

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Biden/Harris Replicates Reagan’s Soviet Bankruptcy Strategy IN REVERSE, US Debt Stands At $36 TRILLION With $220.3 TRILLION In Unfunded Liabilities (Too Bad Total US Assets Are Only $217 TRILLON)

by confoundedinterest17 I just watched Dennis Quaid in “Reagan”. Excellent film. But it reminded me of how Reagan sank the Soviet Union: by outspending the Soviet Union on the arms race. It worked! The Soviet Union, hamstrung by grossly inefficent central planning, couldn’t keep up and collapsed under President George H.W.Bush. Fast forward to today. …

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Luxury EV Manufacturer, Fisker, Files for Chapter 11 Bankruptcy; Yet Another Example That Gas Isn’t Going Anywhere

The automobile industry has faced financial distress in 2024 leading to Chapter 11 bankruptcy filings. Electric vehicle startup Fisker Group on June 17 filed for Chapter 11 bankruptcy, citing various market and macroeconomic headwinds, and shut down all operations. Fisker had begun deliveries of its Ocean battery-electric crossover SUV in 2023 to compete with Tesla, …

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TGI fridays set to file for chapter 11 bankruptcy

TGI Fridays, once a popular dining destination, is preparing for Chapter 11 bankruptcy. Facing financial challenges, the chain has struggled to keep up with changing consumer tastes and rising competition from fast-casual eateries. As part of its survival efforts, TGI Fridays has closed 50 U.S. locations this year, with the latest closures in Virginia, Pennsylvania, …

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Without drastic cuts to government spending, America risks de facto bankruptcy; Gold hits $2,740 all-time high as silver surges to 12-year peak of $34.

This is not Apple, Tesla or even Nvidia. This is interest payments on the US national debt of $36 trillion. We now pay nearly $1.2 trillion per year in interest on the debt, about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt. pic.twitter.com/UoMe8MbZKL — …

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Tupperware to File for Bankruptcy

-Tupperware Brands is preparing to file for bankruptcy as soon as this week, Bloomberg News reported on Monday, citing people with knowledge of the plans. The company’s shares were down 15.8% at 43 cents after the bell. They closed down 57%. Founded in 1946 by chemist Earl Tupper, the company’s popularity exploded in the 1950s …

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Avon files for bankruptcy in face of 200 lawsuits linking its talc products to cancer

Avon Products Inc, the once-mighty direct sales company thanks to its army of door-to-door saleswomen, is filing for bankruptcy amid a mountain of lawsuits alleging talcum powder in its products causes cancer. Avon Products, the US-based “non-operational” holding company that markets the brands product overseas, is seeking Chapter 11 bankruptcy protection “to address its debt …

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Newsom must want to fast track bankruptcy? California proposal could make undocumented immigrants eligible for up to $150,000 in state-supported home loans.

Newsom must want to fast track bankruptcy? — floridanow1 (@floridanow1) August 26, 2024 🚨🇺🇸CALIFORNIA TO CONSIDER $150,000 HOME LOANS FOR ILLEGAL IMMIGRANTS California is close to approving a measure that would make illegal immigrants eligible for up to $150,000 in state-supported home loans for down payments. The "California Dream for All" program would provide… pic.twitter.com/0v7LSpR1Lq …

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Home improvement chain with hundreds of stores files for bankruptcy – and shuts 94 stores – who’s doing home improvement?

One of America’s biggest flooring suppliers has filed for bankruptcy – the latest in a long line of retailers this year to face money problems. LL Flooring will shut 94 of its 442 stores, which are spread out across 47 states, to cut costs and make the company attractive to a buyer. The retailer, which …

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Another Green Energy Company Declares Bankruptcy, Thank Biden’s Tariffs

by Mike Shedlock Conflicting goals often leads to the worst of both outcomes. That’s what’s happening with solar panels and EVs. SunPower Went Bankrupt Despite Huge Subsidies The Wall Street Journal reports Another Green Energy Subsidy Bust The 39-year-old SunPower is the latest solar rooftop business to fail this year. Others include Titan Solar Power and …

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