Guitar Center, Inc., the world’s largest retailer of guitars, drums, amplifiers, and lighting equipment, is quietly looking to restructure its $1.3-billion debt as the company struggles with consumers’ growing demand for online shopping.
The number of Texas companies looking to reorganize and restructure their debt under Chapter 11 bankruptcy proceedings hit a record high in the first half of 2017. The number of bankruptcy filings in Houston have also hit record levels.
Cafeteria workers in the Brentwood School District (Allegheny County, Pennsylvania) fear for their jobs after the Brentwood school board voted to look for outsourced cafeteria services.
In spite of efforts to avoid it, including mid-year budget cuts and budget transfers, West Virginia conclude fiscal 2017 in the red. The state is also beginning fiscal 2018 with a deficit of $11.0 million.
Western Graphics & Data will be closing its commercial printing plant in Southeast Portland, a move that will result in the loss of all 82 jobs. The company is a unit of Minnesota-based Travel Tags, Inc. and is, according to its web site, “one of the largest Gift Card Manufacturers in the United States, with (more…)
First Responder EMS-Sacramento Inc. said it plans to close its operations later this year, resulting in the loss of 66 jobs. The company provides ambulance and emergency medical services throughout the Sacramento area and was one of the 13 providers for the Sacramento County Emergency Medical Services System.
According to paperwork filed with the California Department of Employment Development, 492 employees of fashion house BCBG Max Azria Group, LLC were given notice that they will be permanently laid off as of September 5. The layoff notices did not include BCBG’s retail employees.
Locke Insulators Inc. announced plans to permanently close its Port Covington, Baltimore plant, a move that will eliminate 108 jobs (84 production-related employees and 24 salaried workers). The company said the manufacturing plan will wind down operations over the next few months as demand for its electric utility insulators winds down.
e.Digital Corp. (OTCBB:EDIG), an intellectual property licensing company, surprised the markets when it filed for Chapter 7 bankruptcy protection. The company did not make the announcement on its corporate website or in a press release, rather, it announced the decision in an 8-K filing with the Securities and Exchange Commission.
The U.S. Labor Department announced that that the U.S. economy made room for 222,000 jobs in June, but California, Texas, and Ohio lead the nation in job losses.