Payless to Close All U.S. Stores as It Prepares for Another Bankruptcy

Retailer Payless ShoeSource plans to close all of its roughly 2,100 stores in the U.S. and Puerto Rico, in what is likely to be the largest ever retailer liquidation. US Business


Katie Price avoids bankruptcy by agreeing to pay debts

Katie Price has avoided bankruptcy after agreeing a plan to pay back what she owes.
Entertainment News – Latest Celebrity & Showbiz News | Sky News


How Important is Cyrus Capital in the Sears Bankruptcy?

Rumblings that ESL Investments and Cyrus Capital Partners are partnering for a bid for bankrupt Sears Holdings Corp. sent shares of the retailer up 18 percent.
Those rumblings first surfaced about a week after the retailer filed its voluntary Chapter 11 petition for bankruptcy court protection. ESL is the hedge fund run by Edward S. Lampert, who is also chairman of Sears. Lampert has been looking for an investment partner to help him with a bid for the retailer. There was also speculation that Cyrus had been in discussions to provide junior debtor-in-possession financing of $ 300 million, but then talks seemed to have stalled earlier this month.
Cyrus already held some of Sears’ debt at the time of the filing, and on Tuesday at the last minute managed to edge out Great American Capital Partners as the junior DIP financier with a $ 350 million loan at a better interest rate.
Shares of Sears, which now trade on the over-the-counter exchange, on Wednesday closed at 36 cents. Intraday trading went as high as 44 cents on the rumor of a joint bid from Cyrus and ESL. That’s because the two can make a credit bid for Sears, meaning that the dollar value of their

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Sears Has Filed for Bankruptcy, but Its Mortifying ‘Husky’ Jeans Endure

Despite the fact that few men look fondly on their days in ‘husky’ jeans, this not-so-nice descriptor persists everywhere from Gap to Children’s Place to Levi’s. But, isn’t there a better name than ‘husky’? Lifestyle


Sears Set to File for Bankruptcy, With Its Survival in Question

As Sears plans to file for chapter 11 protection, the big question is whether a smaller Sears emerges from bankruptcy or whether the filing leads to a liquidation and a final end to the storied chain. US Business


Sears CEO Pushes a Rescue Plan to Avoid Bankruptcy

CEO Edward Lampert wants creditors to restructure about $ 1.1 billion of debt due in 2019 and 2020. US Business


Seven celebrities who bounced back from bankruptcy

Boris Becker is not the first celebrity to face financial woes as he claims diplomatic immunity in his fight against bankruptcy proceedings.
Entertainment News – Latest Celebrity & Showbiz News | Sky News


‘Hotel Mumbai’ Producers Strike Deal to Escape Weinstein Bankruptcy

From the moment the Weinstein Co. began to fall apart, producers have been trying to free their projects from the company’s grasp. The producers of “Hotel Mumbai” succeeded on Friday, sealing a deal with the Weinstein Co. to reclaim the film in exchange for an undisclosed sum. The film stars Dev Patel and Armie Hammer, […]



Cambridge Analytica starts bankruptcy proceedings in US

The firm at the centre of the Facebook data row has filed legal papers that will see it wound up.
BBC News – Technology


Weinstein’s company files for bankruptcy

The Weinstein Company has filed for bankruptcy protection in a last-ditch attempt to survive the sexual misconduct scandal which brought down its co-founder.
Entertainment News – Latest Celebrity & Showbiz News | Sky News


Weinstein Company to file for bankruptcy

The Weinstein Company’s board of directors are to file for bankruptcy protection after last-ditch talks to sell its assets collapsed.
Entertainment News – Latest Celebrity & Showbiz News | Sky News


Moods of Norway Files for Bankruptcy

Moods of Norway, the brightly colored European fashion brand, has filed for bankruptcy.
“It’s incomprehensibly sad that the adventure is now over,” Moods of Norway founder Simen Staalnacke told Norwegian Broadcasting (NRK) after he revealed the bankruptcy filing to employees. “We have really tried to make this work. I feel like words aren’t enough in such an extreme situation.”
The brand, which started in men’s wear but moved into women’s, hasn’t done well in the past few years; earlier this week its lead bank, Sparebanken Sogn og Fjordane, stopped further credit, and Moods of Norway hasn’t been able to raise new capital. Last year Varner, a Norwegian apparel chain, bought 25 percent of the company, but that infusion of cash couldn’t turn things around.
For the past few years, Moods of Norway, which was started in 2002, has been in expansion mode, which ultimately led to its profitability challenges.
In 2012, the company hired George Santacroce, an industry veteran whose prior stints included Bergdorf Goodman and Aquascutum of London, to build up the U.S. business. Shortly after that, it tapped Keanan Duffty as a design consultant. At its height Moods of Norway operated 15 stores worldwide. For now, the stores are still open.
For more

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Toys ‘R’ Us Bankruptcy Poses Challenge for Toy Makers

The bankruptcy filing of Toys ‘R’ Us ends weeks of uncertainty for the toy industry while creating a new challenge for toy makers just ahead of the busy holiday season. US Business


Toshiba’s Westinghouse Electric Files for Bankruptcy Protection

Westinghouse, a major player in global nuclear construction, filed for bankruptcy protection, raising questions about the fate of four half-finished reactors in the U.S. US Business


Rapper 50 Cent pays $22m to end bankruptcy

Rapper 50 Cent has been discharged from bankruptcy early by a US federal judge after paying more than $ 22m.
Entertainment News – Latest Celebrity & Showbiz News | Sky News


50 Cent’s ‘pound of flesh’ bankruptcy battle

50 Cent is trying to “hide behind a wall of professionals” in an attempt to evade his recent $ 7 million court loss, according to Lavonia Leviston’s lawyer. RSS feed
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Aereo Cleared To Auction TV Streaming Technology In Bankruptcy Deal

(Reuters) – A bankruptcy court has allowed defunct video streaming company Aereo Inc to auction its TV streaming technology assets, according to court papers published on Friday.

The U.S. Bankruptcy Court in Manhattan ruled on Wednesday that Aereo could sell its assets, after the company reached an agreement with broadcasters over the sale process.

These broadcasters include CBS Corp, Comcast Corp’s NBC, Walt Disney Co’s ABC and Twenty-First Century Fox Inc’s Fox.

Under the agreement, Aereo will allow the broadcasters to attend the auction of the assets and provide them a weekly update on the status of the sale process.

Aereo filed for bankruptcy in November, five months after the U.S. Supreme Court said it violated broadcasters’ copyrights by capturing live and recorded programs on miniature antennas and transmitting them to subscribers for $ 8-$ 12 a month.

That decision effectively closed down New York-based Aereo, whose business model was to offer a less-expensive alternative to cable television.

The case is In re: Aereo Inc, U.S. Bankruptcy Court, Southern District of New York, No. 14-13200.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Kirti Pandey)

Entertainment – The Huffington Post
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