Geets Diner, a significant landmark in Williamstown for more than 65 years, is finally approved for sale by the bankruptcy court.  The sale was approved by the federal bankruptcy judge for $3.9 million dollars. The winning bidder of the sale was Kala-Trofi, LLC, who will acquire the property, equipment and the liquor license of the [...]

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Takata Corp. soared in Tokyo trading following its CFO’s reiteration that the company is not planning to file for bankruptcy as that could be disruptive to the manufacturing of auto parts, which are necessary for the completion of the safety recalls. Takata, which is based in Tokyo, has issued safety recalls due to defective products [...]

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Wet Seals May File for Bankruptcy Again

by San Antonio Attorney

Within a year after Wet Seal filed for Chapter 11 bankruptcy, the teen clothing retailer is possibly returning to the bankruptcy court, according to reports. Versa Capital Management, the private equity firm which acquired Wet Seal for $7.5 million in 2015, is looking at options for the struggling clothing company. Those choices include selling its [...]

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ABC Disposal, which declared bankruptcy last year, is alleging that a creditor took advantage of a distressed business and allowed it to borrow funds at interest rates higher than 50 percent. The company alleges in its bankruptcy documents that Small Business Term Loans, Inc. violated the lending laws in Massachusetts when it used BofI, a [...]

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