Bankruptcies

Sears Holdings at Risk of Bankruptcy in 2018 as Revenue Plunged by 27.2% & Debt Load Spiked to $4B

Sears Holdings

Sears Holdings’ Debt Is Cause for Concern Sears Holdings (NASDAQ:SHLD) is on the watchlist for retail bankruptcies in 2018, as analysts and financial reports point to a company struggling to stay afloat. Sears Holdings’ quarterly revenue declines continue apace, with each successive filing revealing that the company has yet to find a long-term, sustainable solution (more…)

Polara Golf Bankruptcy Ends One of Golf’s Biggest Controversies

Polara Golf Bankruptcy

Parent Company Files for Bankruptcy Protection The Polara Golf bankruptcy will shutter one of the most controversial golf ball producers in the industry. The bankruptcy comes as its parent company, Aero-X Golf Inc., files for Chapter 11 protection, listing less than $1.0 million in assets and nearly $3.0 million in liabilities. Polara’s claim to fame revolves (more…)

SpeedVegas Driving Attraction Files for Chapter 11 Bankruptcy

SpeedVegas will be operating its business as it has in the past, except it will be doing so while under Chapter 11 bankruptcy protection. The filing for Chapter 11 will give SpeedVegas the ability to negotiate its financing in order to become a stronger company, financially. This decision was not made in-house. Rather, lenders to (more…)

Cobalt International Energy Files for Chapter 11 Bankruptcy

Cobalt International Energy Bankruptcy

Cobalt International Energy, Inc. (NYSE:CIE) has filed for Chapter 11 bankruptcy. The oil and gas company, which is financially struggling upstream,  said it will sell off the company for parts. Houston, Texas-based Cobalt says it has enough money to fund operations during the restructuring process and will conduct its business as usual. The bankruptcy petition for (more…)

Charming Charlie Bankruptcy: Jewelry Retailer Sought Chapter 11 Protection Due to Declining Foot Traffic in Malls

Charming Charlie Bankruptcy

Charming Charlie LLC, a Houston-based jewelry retailer, has filed for Chapter 11 bankruptcy protection as the company succumbs to the challenges faced by the retail industry, namely a decline in mall foot traffic and the ever-increasing prominence of online shopping. The Charming Charlie bankruptcy will result in some major changes for the company; nearly 100 (more…)

Woodbridge Group Bankruptcy: Real Estate Developer seeks Chapter 11 Protection

Woodbridge Group of Companies and its Subsidiaries File for Chapter 11 Bankruptcy Woodbridge Group of Companies, LLC, a real estate investment firm, has filed for Chapter 11 bankruptcy protection. The company blamed the bankruptcy filing on costs associated with ongoing litigation and regulatory compliance. During the bankruptcy process, Woodbridge will be looking to restructure its (more…)

Walter Investment Management Bankruptcy: Mortgage Servicer Seeks Chapter 11 Protection with About $2bn in Debt

Walter Investment Management Bankruptcy

After reports in October that Walter Investment Management Corp (NYSE:WAC) was working on a plan to help with its debt, the Walter Investment Management bankruptcy has finally landed. The mortgage banking firm has long been struggling with billions of dollars in debt, with the Walter Investment Management Chapter 11 protection seen as one of the few options remaining (more…)