Papaya Clothing Files for Bankruptcy American retailer Papaya Clothing, which sells apparel, shoes, and accessories for teens and young women, has filed for Chapter 11 bankruptcy protection as the company faces a liquidity crisis. The company has a workforce of roughly 1,300 employees, many of whom will face layoffs as stores close.
GenOn Energy Files for Chapter 11 Bankruptcy GenOn Energy Inc, an energy company with thousands of megawatts of generation capacity in the U.S., has filed for Chapter 11 bankruptcy protection, amid piling debt. The Texas-based energy company is a subsidiary of energy conglomerate NRG Energy Inc, and was acquired by the latter in 2012.
The Duo Plan to Open Thousands of Stores and Take Over the U.S. Market Already-ailing retailers must now ward off another attack, this one coming from Europe as two massive chain stores look to enter the U.S. market and put other companies at risk. Both Aldi and Lidl are planning on massive expansions into the (more…)
Gymboree Files for Chapter 11 Bankruptcy A giant U.S. retailer of children’s apparel, The Gymboree Corporation, has filed for Chapter 11 protection at a bankruptcy court in Virginia. The company has been forced to take the drastic action as its debt runs out of control. The company aims to reduce its debt by $900.0 million (more…)
Oil and Gas Company Files for Bankruptcy Protection Oil and gas exploration company Rooster Energy Ltd has filed for Chapter 11 bankruptcy protection after failing to fight off a major creditor. Rooster Energy’s bankruptcy filing cites its liquidity crisis to be the reason behind its failure.
Parent Company of Joe’s Crab Shack Files for Bankruptcy Ignite Restaurant Group Inc, which owns the restaurant chains “Joe’s Crab Shack” and “Brick House Tavern + Tap,” is filing for bankruptcy protection, as dwindling sales continue to threaten its survival.
Gander Mountain Announces Liquidation After Bankruptcy The largest retailer of outdoor recreational goods in America, Gander Mountain Company, is going to liquidate its assets after failing in the restructuring process post its bankruptcy.
Parts of the Solar Industry Thrive While Others Falter While some businesses within the solar industry are prospering, others are closing down as the political climate and social attitude towards solar has worsened so far in 2017.
More American Hospitals Go out of Business in 2017 The U.S. healthcare sector has witnessed record-high numbers of bankruptcies in the first half of 2017. American hospitals, in particular, continue to face a risk of insolvency in the midst of political uncertainty.
Rue21 Files for Bankruptcy Protection, Closes 400 Stores Pennsylvania-based teen fashion specialty retailer Rue21 has filed for Chapter 11 bankruptcy after facing deteriorating sales and difficulties in servicing its debt. Following the bankruptcy, the company is closing 400 of its stores, with a warning that more store closings might follow.