Vitamin World, Inc. is adding its name to a growing number of companies initiating massive cuts, with Vitamin World retail stores closing across the country as the company files for Chapter 11 bankruptcy. The vitamin retailer is currently in the process of shuttering over 100 stores as it hopes to acquire enough cash to stay afloat (more…)
Belk, Inc. (OTC:BLKIA) announced it is closing two department stores in 2018, including one in West Virginia and the other in Georgia. The Belk layoffs will result in the loss of 183 full- and part-time jobs.
Embassy Suites by Hilton is up for sale after the company that owns it, Le Centre on Fourth, filed a petition for reorganization under Chapter 11 bankruptcy in a Florida court, potentially affecting Louisville jobs in the area.
Pacific Drilling Bankruptcy Owed to Industry Slump Houston-based offshore oil and gas drilling company, Pacific Drilling SA (OTCMKTS:PACDF), has filed for Chapter 11 bankruptcy as it looks to restructure its debt. The Pacific Drilling bankruptcy is owed to the oil and gas industry’s ongoing slump. Pacific Drilling has sought bankruptcy protection at the U.S. Bankruptcy (more…)
XCOR Aerospace Files for Chapter 7 Bankruptcy Rocket engine manufacturer XCOR Aerospace, Inc. has filed for Chapter 7 bankruptcy as it exits the aerospace industry for good. The Mojave, California-based company is wrapping up all operations and heading for liquidation. XCOR Aerospace’s bankruptcy underscores the company’s ongoing financial troubles, which were exacerbated after the company failed (more…)
Bankruptcy looms for The Weinstein Company Inc. unless the embattled film company can secure a financial lifeline. Over the last six weeks, The Weinstein Company has lost business partners, board members, and creative talent in the wake of a litany of sexual harassment and abuse allegations leveled against co-founder Harvey Weinstein. Weinstein has been accused (more…)
Cantrell Drug Co. Bankruptcy Announced After FDA Suspends Drugmaker’s Production Little Rock, Arkansas-based drugmaker Cantrell Drug Company has filed for Chapter 11 bankruptcy after the Food and Drug Administration (FDA) suspended the drugmaker’s right to manufacture and ship drugs. Cantrell Drug Co.’s bankruptcy brings to light its $7.46 million debt load, which the company promises not (more…)
Growing Debt Load Triggers ExGen Bankruptcy The Texas-based subsidiary of giant utility company Exelon Corporation (NYSE:EXC) has filed for Chapter 11 bankruptcy. Illinois-based Exelon’s ExGen Texas Power LLC has ended up seeking a bankruptcy court’s protection in the midst of its growing debt burden. ExGen’s bankruptcy will allow parent Exelon to retain one key asset (more…)
Styles For Less Bankruptcy: Another Casualty of Online Retail Fashion apparel retailer Styles For Less is preparing to file for Chapter 11 bankruptcy as it becomes the latest casualty of America’s evolving consumer patterns. The Styles For Less bankruptcy is the latest retail bankruptcy in 2017 owed to the rise of digital retailers.
Armstrong Energy, Inc., a coal mining company based in St. Louis, Missouri filed for bankruptcy on Wednesday with the intention of turning ownership over to a competitor and its lender. The announcement comes on the same day that President Donald Trump tweeted a Fox News report highlighting the rise in U.S. coal production.