Bankruptcy

The coronavirus pandemic has pushed U.S. companies to go bankrupt at a rate that could make 2020 the worst year for bankruptcies since 2010 during the fallout of the Great Recession, according to a new report from S&P Global.

The rural airline wants to award $250,000 in bonus money to its chief executive and other employees. 

Discount department store Stein Mart revealed Wednesday that it filed for Chapter 11 bankruptcy, saying it plans to close a "significant portion, if not all" of its 281 stores nationwide.

Brand-licensing company WHP Global Inc. has bowed out of the race for Brooks Brothers Inc., according to people familiar with the matter, leaving a venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. poised to take control of the bankrupt retailer.

The pandemic’s fast-moving shutdowns and restrictions have wreaked havoc on fitness routines, life plans and gym finances.

Virgin Atlantic filed for bankruptcy protection Tuesday.

Lord & Taylor is closing 19 of its store locations after its parent company filed for bankruptcy.

The XFL is smelling what The Rock is cooking.

Luxury department store chain Lord & Taylor filed for bankruptcy along with its owner, the venture-backed fashion-rental subscription service Le Tote Inc.

The California-based company, which operates over 200 restaurants in eight countries, said it will close unprofitable locations, saying the coronavirus pandemic has had an "unprecedented impact."

A federal bankruptcy judge on Tuesday limited the amount of political contributions OxyContin maker Purdue Pharma can make to candidates running for state attorney general or governor, particularly as these same offices are working to settle massive lawsuits against the company for their part in the national opioid addiction crisis. 

Sycamore sees JCPenney helping to revive the North Carolina-based Belk, a struggling department store chain with 300 stores located mostly in the South, a source said.

The industry's fortunes tend to rise and fall based on the country's political climate.

When Brooks Brothers emerges from Chapter 11 bankruptcy and reorganizes under new ownership many of its 250 retail stores will almost certainly vanish in an attempt to cut costs.

Sparc's offer will be subject to higher and better bids due by Aug. 5 and has been designated as the "stalking horse," setting a minimum for others to beat.

Ascena Retail Group is slated to close all of its Catherines stores, in addition to closing a "significant number" of its Justice stores and a "select number" of Ann Taylor, LOFT, Lane Bryant and Lou & Grey stores.

Briggs & Stratton Corp. has filed for bankruptcy protection and agreed to sell assets to KPS Capital Partners LP as the company has faced declining sales and losses since the onset of the coronavirus pandemic.

The Milan-based Giglio Group is looking to buy Brooks Brothers out of bankruptcy.

Cirque du Soleil Ok'd an offer to its lenders in a deal that forgives roughly $825 million of Cirque’s $1.2 billion in outstanding loans in exchange for ownership, while leaving its current owners — a group led by billionaire private titans like David Bonderman — empty-handed.