San Antonio Attorney Blog

U.S. Steel is generating revenue while waiting for a bankruptcy judge’s approval to extend its creditor protection. A report from the court shows that company’s income from Nov. 22 to Jan. 2 had a net positive earnings of $85.4 million. The cash position of the company now stands at $188 million. U.S. Steel does not [...]

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Hillview, Kentucky filed for bankruptcy on Thursday. The town has a population of 8,000. The last municipal bankruptcy was filed by Detroit two years ago. Since 1980, there have been a total of 54 cities, towns and counties that have filed for bankruptcy protection from their creditors. Hillview does not have funds to pay for [...]

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The grocery store operator filed its Chapter 11 bankruptcy last month. According to court papers filed, the company is losing $4.5 million each week as it waits to get the court’s approval to sell its118 stores. The gap between the assets and liabilities of A&P is expanding. In February, the total liabilities of the company [...]

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A&P Files for Bankruptcy

by San Antonio Attorney

A&P, a major grocery chain, has declared bankruptcy again and plans to sell 120 of its stores. The former giant grocery owns food retailers in New York, Pennsylvania and New Jersey. According to A&P, its debt restructuring five years ago did not make sufficient financial foot-hold to keep pace with a changing grocery industry. A&P, [...]

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A U.S. bankruptcy judge has allowed RadioShack to sell its brand and data for $26 million. The buyer is an affiliate of Standard General. The judge rejected the claim of a competing buyer that the bidding process was not fair. RadioShack has also overcome oppositions to the sale from certain state attorneys general who were [...]

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Struggling fashion retailer American Apparel has announced that its financial situation has declined so critically that it is no longer certain whether it will be able to sustain its business. This has been the company’s latest warning to investors with regards to its prospects. American Apparel is in dire situation, facing lawsuits from its founder [...]

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Popular for its cotton basics – such as the beloved Y-fronts – shares of the American Apparel reached $14 in 2008. The retail store was also named label of the year by Guardian in the same year. Shortly after, the founder of the company was a candidate for Time magazine’s 100 most influential people in [...]

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Trump Entertainment Resorts Inc. is going file for bankruptcy protection again this week. If that happens, it will become the fifth casino in Atlantic City, New Jersey at risk of shutting down. Last year, the city’s revenue from the casino industry dropped to $2.9 billion. The highest revenue was in 2006 when it earned $5.2 [...]

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Trump Entertainment Resorts Inc. filed for Chapter 11 bankruptcy on Tuesday. It operates Taj Mahal Casino Resort and Trump Plaza. Atlantic City has the second biggest gambling industry in the U.S., after Las Vegas.  The industry has been taken over by fresh rivals from the north-east, with revenue declining almost fifty percent from $5.2 billion [...]

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Lamar Construction Co. was hired by Royal Technologies to build a factory in Texas. The cost of the project was $19.7 million for a plastics manufacturing plant. Royal Technologies claims that Lamar fraudulently obtained $2.3 million to repay debts that were not related to the project in Texas. Lamar Construction said it would use the [...]

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