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

Weekly News Update for January 7
iStock.com/CPaulussen

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, Mandarin Cove, and House of Louie shut down at the start of 2018. Donald Trump’s famous plan for a border wall goes ahead, increasing political tensions. Kroger Co (NYSE:KR), a grocery store, shuts down in Columbus, OH due to poor sales.

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.

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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 owed to Empire State Realty Trust Inc (NYSE:ESRT), the owner of the space. Read on to know more.

Dana Mining of Pennsylvania to Close Mine Near Mt. Morris, 370 Mining Jobs Gone

Dana Mining of Pennsylvania LLC said it is closing its 4 West Mine in Mount Morris, near the West Virginia border. The closure will mean the loss of nearly 400 jobs. Mepco, Inc., the parent company of Dana Mining, said the age of the mine and poor geological conditions had pushed up production costs. Read on to know more.

Portland, OR Restaurant Closings: The Original Taco House, Mandarin Cove, House of Louie Shut Down

The new year started out with a whimper in the state of Oregon, with several Portland restaurant closings. On January 2, The Original Taco House closed its remaining locations. Two once-popular Chinese restaurants also shut down at the start of 2018: Mandarin Cove closed for good on January 1 and House of Louie closed after a 30-year run.

Having so many Portland restaurants shut down so incredibly early into 2018 does not bode well for residents who enjoy the city’s various dining establishments, with the closings varying wildly in types of food and locations within the city meaning potentially no restaurant is safe. Read on to know more.

Trump Border Wall Push Comes While Political Tension Remains High

President Donald Trump’s famous plan for a border wall is serving to create an even bigger divide among Congress than we witnessed in 2017, as Senators and House members look toward potential bipartisan legislation on immigration despite the president’s outcries. The Trump border wall has long been a sticking point for Democrats on any immigration action. Read on to know more.

Kroger Store Closing in 2018: Poor Sales Led to Shutdown in Columbus, OH

Kroger Co shut down multiple locations across the U.S. throughout 2017, leaving hundreds of people without work and some communities with limited grocery shopping options. The latest location to shutter sits in Columbus, Ohio, marking the first Kroger store closing in 2018. It will close for good on January 31, with a statement from the company citing weakening sales.

Kroger, like many other brick-and-mortar stores, has found it difficult to survive and thrive in a world increasingly reliant on online shopping. Nearly every retail store closing in 2018 is expected to resemble the closures this past year, meaning that dozens of companies are likely to shutter hundreds of locations across the U.S. Read on to know more.

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Categories: News, Weekly News Update

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