Category: News
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Penthouse global media files for bankruptcy for third time
The third time’s the charm. Penthouse Global Media, Inc. has filed for Chapter 11 bankruptcy protection for the third time. The company previously filed for restructuring in 2003 and 2013. The 2018 filing said little about the company’s debt, but listed estimated liabilities of between $10.0 million and $50.0 million. Interestingly, its two top creditors are law firms Greenberg…
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Radio broadcaster the pacifica foundation teeters on edge of bankruptcy
The start of the new year could see The Pacifica Foundation entering into voluntary bankruptcy. This would occur if Pacifica is unable to secure financing to pay its $1.8 million debt. That debt is for a judgment related to a missed lease payment for an antenna and transmitter, which is located on the Empire State Building. The outstanding payment is…
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Bon-ton bankruptcy looming? Company enters into forbearance agreement, shares crater
The Bon-Ton Stores, Inc. (OTCMKTS:BONT) is on shaky ground; it’s shuttering stores, its share price has crashed, and creditors are pushing the company to file for bankruptcy. Anonymous sources say the filing could happen as soon as next month. Could we see a Bon-Ton bankruptcy? While Bon-Ton is trying its best to avoid filing for bankruptcy,…