Main Street’s boldest take on Wall Street in bankruptcy stock frenzy
NEW YORK (Reuters) – When Bryan Quevedo received his U.S. government stimulus check last month, he invested $1,000 in the…
Hertz files for U.S. bankruptcy protection as car rentals evaporate in pandemic
NEW YORK (Reuters) – The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy…
U.S. Bankruptcy Court allows J.C. Penney to keep paying staff and vendors
(Reuters) – J.C. Penney Co Inc (JCP.N) said on Saturday a U.S. Bankruptcy Court will allow it to keep paying…
J. Crew files for bankruptcy as preppy retailer succumbs to COVID-19 fallout
(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to…
Exclusive: Investors to challenge Neiman Marcus bankruptcy loan, push for sale – sources
(Reuters) – An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb’s hedge fund Third Point…
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines
NEW YORK (Reuters) – U.S. shale producers, refiners and pipeline companies are scrambling for cash and face likely restructuring as…
PG&E proposes board revamp in revised bankruptcy plan
FILE PHOTO – A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November…
California governor rejects PG&E bankruptcy reorganization plan
(Reuters) – California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp (PCG.N), the state’s…
Bankrupt PG&E reaches $13.5 billion settlement with California wildfire victims
(Reuters) – California’s bankrupt power producer PG&E Corp (PCG.N) said on Friday it had reached a $13.5 billion settlement with…
CBS ordered to disclose internal records on Viacom deal
(Reuters) – A Delaware judge on Monday ordered broadcaster CBS Corp to turn over records regarding its plan to reunite…
EasyJet buys Thomas Cook airport slots at Gatwick and Bristol for $46 million
FILE PHOTO: Passengers board an easyJet plane at Nantes-Atlantique airport in Bouguenais, near Nantes, France, April 4, 2019. REUTERS/Stephane Mahe/File…
Groups bidding for PES refinery due to tour fire-damaged site: sources
NEW YORK (Reuters) – Groups vying for the idled Philadelphia Energy Solutions oil refinery have entered the second phase of…
PG&E says it has $34.45 billion in debt financing for reorganization
SAN FRANCISCO (Reuters) – PG&E Corp said in court papers on Friday it has debt financing commitments of $34.35 billion…
Sacklers reaped up to $13 billion from OxyContin maker, U.S. states say
(Reuters) – OxyContin maker Purdue Pharma LP steered up to $13 billion in profits to the company’s controlling Sackler family,…
Final Thomas Cook holiday-makers to fly home to Britain
FILE PHOTO: An Airbus A320 of Thomas Cook Airlines lands at Duesseldorf Airport, Germany September 23, 2019. REUTERS/Wolfgang Rattay LONDON…
Thomas Cook Germany in rescue talks with investors
BERLIN (Reuters) – Thomas Cook’s German tour business filed for insolvency on Wednesday in a move aimed at separating its…
Mexico tourism mostly unaffected by Thomas Cook closure: ministry
MEXICO CITY (Reuters) – The collapse of British travel firm Thomas Cook will not have a “significant impact” on Mexico’s…
Germany offers Thomas Cook’s Condor 380 million euro bridging loan
BERLIN (Reuters) – Germany will guarantee a 380 million euro ($418.6 million)bridging loan for Condor, the German airline owned by…
Toxic chemical at PES refinery mostly cleared, aiding probe of June blaze
(Reuters) – Most of a highly toxic chemical stored at a fire-damaged Philadelphia oil refinery has been rendered inert, clearing…
Avianca to pack more seats into planes as part of recovery plan, executive says
A logo of aviation company Avianca is pictured at the headquarters building in Bogota, Colombia August 29, 2019. REUTERS/Luisa Gonzalez…
Court leaves PG&E with sole right to submit bankruptcy plan
FILE PHOTO: PG&E crew work to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018.…
PES up against the clock to sell Philadelphia refinery in cash crunch
NEW YORK (Reuters) – Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s…
PG&E to hold sole rights to bankruptcy exit plan: WSJ
FILE PHOTO: A PG&E truck carrying an American Flag drives past PG&E repair trucks in Paradise, California, U.S. November 21,…
Exclusive: J.C. Penney taps debt restructuring advisers – sources
(Reuters) – J.C. Penney Co Inc (JCP.N) has hired advisers to explore debt restructuring options that would buy more time…
Philip Green’s Arcadia avoids collapse as creditors back deal
LONDON (Reuters) – Philip Green’s Topshop-to-Dorothy Perkins fashion empire staved off a collapse into administration on Wednesday as creditors approved…
PG&E wins court approval to set up $105 million wildfire assistance fund
SAN FRANCISCO (Reuters) – PG&E Corp may set up a $105 million housing fund for victims of 2017 and 2018…
PG&E get approval to pay employees $350 million to meet safety goals after wildfires
SAN FRANCISCO (Reuters) – PG&E Corp can pay employees up to $350 million in bonuses this year to spur them…
Sears sues Lampert, claiming he looted assets and drove it into bankruptcy
NEW YORK (Reuters) – Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others…
Oklahoma drops several claims in opioid case against J&J, Teva
(Reuters) – Oklahoma’s attorney general on Thursday had dropped all but a single claim against Johnson & Johnson and Teva…
Factbox: Who are PG&E's new directors?
PG&E Corp on Wednesday appointed Tennessee Valley Authority Chief Executive Officer William Johnson as its CEO and added 10 members…
PG&E names TVA’s William Johnson as CEO, reshuffles board
FILE PHOTO: Pacific Gas and Electric (PG&E) trucks are seen parked on a road between homes destroyed by the Tubbs…
OxyContin maker Purdue agrees to settle Oklahoma opioid case: source
(Reuters) – Purdue Pharma LP has agreed to settle a lawsuit by the state of Oklahoma accusing the OxyContin painkiller…
Exclusive: OxyContin maker Purdue Pharma exploring bankruptcy – sources
(Reuters) – OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from roughly 2,000…
Payless ShoeSource to start liquidation sales at stores
FILE PHOTO: A Payless ShoeSource store logo is pictured in the Manhattan borough of New York, New York, U.S. April…
PBGC steps in to oversee Sears’ two pension plans
FILE PHOTO: A store closing sale sign is posted next to a Sears logo in New Hyde Park, New York,…
Exclusive: California utility PG&E explores bankruptcy filing – sources
(Reuters) – California utility company PG&E Corp (PCG.N) is exploring filing some or all of its business for bankruptcy protection…
Britain’s HMV faces the music as retailer calls in administrators
(Reuters) – Music retailer HMV said on Friday it was calling in the administrators, blaming a worsening market for entertainment…
Sears Chair Lampert makes $4.4 billion bid to keep retailer alive
(Reuters) – Sears Holdings Corp Chairman Eddie Lampert submitted a $4.4 billion takeover bid for the bankrupt U.S. retailer, representing…
Italy works on extending Alitalia loan deadline: source
ROME (Reuters) – Italy is working on an extension of as much as six months to a Dec. 15 deadline…
Exclusive: Mattress Firm explores U.S. bankruptcy to close stores – sources
(Reuters) – Mattress Firm Inc, the largest U.S. mattress retailer, is considering a potential bankruptcy filing as it seeks ways…
Fitbit’s six current, ex-staff indicted in Jawbone trade secrets case
(Reuters) – Six former and current employees of Fitbit Inc (FIT.N) were charged in a federal indictment for possessing trade…
UK’s House of Fraser to close 31 stores, 6,000 jobs at stake
LONDON (Reuters) – British department store group House of Fraser said on Thursday it has proposed closing 31 stores in…
U.S. gunmaker Remington emerges from bankruptcy
(Reuters) – Remington Outdoor Co Inc FREDM.UL, one of the largest U.S. makers of firearms, has emerged from Chapter 11…
A bid to save $300 million at HCR ManorCare, and disrupt U.S. healthcare
CHICAGO (Reuters) – Thomas DeRosa is making a $4 billion bet that he can build a national, low-cost healthcare network…
Bank of America’s loan to Remington tests its firearms pledge
WILMINGTON, Del./NEW YORK (Reuters) – Bank of America Corp is preparing to provide critical financing to Remington Outdoor Co, which…
U.S. gunmaker Remington files for bankruptcy
(Reuters) – Remington Outdoor Co Inc , one of the largest U.S. makers of firearms, filed for bankruptcy protection on…