Chapter 11 Bankruptcy

Gander Mountain, one of the top outdoor retailers in the United States, filed for Chapter 11 bankruptcy protection on March 11, 2017. The retailer, which is based in Saint Paul, Minnesota, earlier addressed bankruptcy rumors by saying that it is making a move to preserve the company’s value. Gander pinned its economic woes to shifts […]

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Sungevity has found a buyer for its leftover assets. Private equity firm Northern Pacific Group wants to buy the solar electricity business. Sungevity filed for Chapter 11 bankruptcy in March and accepted an “asset purchase agreement” headed by Northern Pacific Group. That deal guarantees a maximum $20 million to finance daily operations. An alternate way […]

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Gordmans Stores Inc., a hundred-year-old chain of department stores, filed for Chapter 11 bankruptcy with plans to sell its products on hand and assets. The business, which listed deficits in 5 out of 6 quarters, stated $131 million debt in it bankruptcy protection filed with a federal court in Nebreska on March 13.  Gordmans revealed […]

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Furnishing retailer Gracious Home filed for Chapter 11 bankruptcy one month after its store in Chelsea was closed.  This is the second bankruptcy filing of the upscale houseware chain in New York. The retailer has a total of three stores in Manhattan; the two are located in Upper West and Upper East sides. The 53-year-old […]

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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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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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Cocoa Expo Sports Center and its CEO, Jeff Unnerstall, have filed for Chapter 11 bankruptcy. Bankruptcy documents show the sports center has $22.8 million debt.  Its two biggest creditors include Bank of Washington, which it owes around $11 million, and Urban Development Fund of Chicago, which it owes $7.2 million.  The loans are secured by […]

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Indiana and certain environmental groups are against the plan of Peabody Energy Corp to emerge its Chapter 11 bankruptcy, raising apprehensions over how the debtor is going to pay for the mine’s cleanup costs, which could reach $1 billion. The majority of creditors agree to the company’s plan to slash $5 billion of debt, but […]

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Limited Stores LLC filed for Chapter 11 bankruptcy, and its online store has been taken down. The company’s petition was filed in a bankruptcy court in Delaware.  The women’s clothing store also took on an asset purchase deal with an associate of Sycamore Partners, a private equity firm. The firm is going to buy intellectual […]

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Canada and Delaware judges confirmed a bankruptcy plan to pay an estimated US$7 billion to Nortel Networks’ creditors, concluding the lengthy litigation over the defunct telecommunications company that filed for bankruptcy in 2009. The decisions by Judge Kevin Gross of the Delaware bankruptcy court and Justice Frank Newbould of the Superior Court of Justice in […]

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