One of the biggest manufacturers of pontoons in America, Premier Marine, Inc., has filed for Chapter 11 bankruptcy as it struggles with a heavy debt load.
PC Rebuilders & Recyclers, LLC (PCRR), an Illinois-based reuse and recycling company, has filed for bankruptcy and has shut its doors. The company filed for Chapter 7 earlier this month, indicting its plans to sell of its assets and pay creditors. The more well-known Chapter 11 bankruptcy means a company is looking to reorganize, create (more…)
The Republican-led U.S. Senate is planning to cut funding to the Medicaid program, following which more Americans could end up filing personal bankruptcies.
After almost a century in business, Joliet, Illinois-based Central Grocers is having a liquidation sale at its one-million-square-foot warehouse and distribution center. The facility was previously used by independent member-owners of the Central Grocers cooperative. Central Grocers is winding down operations after filing Chapter 11 back in May, two days following the filing of an (more…)
More and More Solar Companies Feel the Pinch American Solar Direct joins a growing list of solar panel companies that have had to declare bankruptcy as both the government and customers prove unkind to solar.
Retails Continues to Bear the Brunt of the Damage Done by Ecommerce The online world is killing brick and mortar stores across the country, as a recent research note from Fitch names several massive chain retailers that may be at risk of filling bankruptcy in the next 12 months.
Famous American department store chain Sears Holdings Corp has landed in hot water, as its Canadian spin-off, Sears Canada Inc, files for bankruptcy protection.
Bankruptcy Frequency Increases as New Industries Suffer Commercial and consumer bankruptcies are up all across the U.S. as industries like retail are taking the brunt of the bankruptcy hit. Total U.S. business bankruptcies in May grew by 4.7% compared to May 2016. With 3,572 filings, according to the American Bankruptcy Institute, that represents a 40% (more…)
Sunset Partners Inc., the parent company of popular Boston University eateries Sunset Cantina and Sunset Grill & Tap, filed for bankruptcy. The restaurants will continue to pour beer and sling food for hungry university students while the company reorganizes its debt.
Illinois Is Facing a Severe Financial Crisis The Midwestern state of Illinois has been operating without a budget for over two years, and it is now on the verge of bankruptcy. State-issued bonds are at risk of facing a drop in their credit rating to junk-bond level. Government agencies now fear that their state-funded programs (more…)