Weekly News Update

Bon-Ton’s Bankruptcy, U.S. Tourism Plunges, Maryland Unemployment Rate Rises & More

Bon-Ton's Bankruptcy in 2018

January 2018 is ending with news of bankruptcies, financial losses, unemployment, price hikes, and violence in the United States. Bon-Ton Stores Inc (OTCMKTS:BONT) may enter bankruptcy in 2018 because of its growing debt, increased online competition, and decline in foot traffic to its stores. The U.S. tourism sector is suffering under Donald Trump’s presidency, with a (more…)

Weekly News Roundup January 21: Good Samaritan Hospital Closing, Trump’s Trade War with China, Bon-Ton Bankruptcy & More

Weekly News Roundup January 21

Closing, bankruptcies, job cuts, and a fall in the U.S. dollar continue to negatively impact the U.S. economy at the start of 2018. Good Samaritan Hospital in Dayton, Ohio will permanently close, impacting about 1,600 employees. Trump’s “America First” platform with China could end up with 90,000 U.S. solar industry jobs cut. Bon-Ton Stores Inc (more…)

Weekly News Roundup for January 14: Hobbico Bankruptcy, Regis Closing Salons, Michelin-Starred Restaurant Closure & More

Bankruptcies, store closings, and political issues continue in the U.S from the start of the year. Hobbico, Inc. the hobby products manufacturer, filed for Chapter 11 bankruptcy protection, which could cut 332 employees. Regis Corporation (NYSE:RGS), located inside Wal-Mart Stores Inc (NYSE:WMT) brand department stores has announced the closing of its 600 underperforming SmartStyle hair salons by January 31, 2018. Danny (more…)

Weekly News Update for January 7: The Pacifica Foundation’s Expected Bankruptcy, Dana Mining of Pennsylvania Closure & More

Weekly News Update for January 7

2018 started with bankruptcies, political issues, and closings of mines, restaurants, and grocery stores in the U.S. Radio broadcaster The Pacifica Foundation may enter bankruptcy if it doesn’t pay its $1.8-million debt. Dana Mining of Pennsylvania LLC will close its 4 West Mine in Mount Morris, impacting about 400 jobs. Portland restaurants including The Original Taco House, (more…)

Weekly News Update for December 31: Mt. Vernon Restaurant Shut Down, Tucci Benucch to Close in 2018 & More

Weekly News Update for December 31

2017 brought the closings of many restaurants and retail stores in the U.S. Mt. Vernon Restaurant closed after 63 years, which joins the list of Chattanooga restaurant closures in 2017. Another restaurant, Tucci Benucch at the Mall of America, will close its doors in 2018, affecting around 80 employees. Two South Dakota restaurants Bracco World Cafe and Starz Burgers & Sportz Bar, owned (more…)

Weekly News Update for December 24: Amtrak Budget Cuts, Retail Bankruptcies, NYC School Closings, Retail Layoffs & More

Weekly News Update for December 24

December 24, 2017, U.S. Economic News Roundup The year 2017 ends with budget cuts, bankruptcies, closings, layoffs, and U.S. Amtrak budget cuts as President Donald Trump’s infrastructure improvement tweet contradicts his 2018 rail budget plan. The U.S. retail industry took a huge hit in 2017, with more closures and bankruptcies expected in 2018. The New (more…)

Weekly News Update for November 28, 2017: Thanksgiving Retail, Net Neutrality, J. Crew Closings, and More

Thanksgiving Day 2017 Stores Open

Even with the arrival of Thanksgiving and Black Friday, brick-and-mortar retailers were hard-pressed to achieve sales goals since many people prefer the convenience of online shopping. Retailers like J. Crew have seen a downward trend in their sales projections. The spiral also seems to have hit Sheikh Shoes, which is seeking financing to avoid bankruptcy. (more…)

Weekly News Update for November 19, 2017: Retail Hiring Declines; Belk Closes Stores; Pacific Drilling Bankruptcy & More

Retail Hiring Decline

A lot of industries have been facing the challenges of cost-cutting and reorganization, forcing them to lay people off all through the year. The year 2017 has been a particularly difficult year for retail, manufacturing, the oil and gas industry, and even the aerospace market, with stores and facilities shutting down and rocket makers failing (more…)