Corporate bankruptcy

FILE - In this Feb. 7, 2013 photo, a man walks past a shuttered New York Sports Club on Water St. in New York. Town Sports International Holdings Inc., the owner of New York Sports Club and Lucille Roberts filed for Chapter 11 bankruptcy Monday, Sept. 14, 2020, as gym operators struggle to keep afloat amid nationwide shutdowns. (AP Photo/Mary Altaffer, File)
September 14, 2020 - 9:10 am

Ny Sports Club Latest Chain To Seek Bankruptcy Protection

The company that runs New York Sports Club and Lucille Roberts gyms filed for bankruptcy protection with COVID-19, still prevalent in man parts of the U.S., gutting membership rolls at fitness companies nationwide. Gold’s Gym sought bankruptcy protection in May and 24 Hour Fitness Worldwide filed...
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A Thai Airways jet sits on the tarmac at the Suvarnabhumi Airport in Bangkok, Thailand, Monday, Sept. 14, 2020. Thailand's Central Bankruptcy Court on Monday gave the go-ahead to financially ailing Thai Airways International to submit a business reorganization plan and appointed seven planners to oversee it. (AP Photo/Sakchai Lalit)
September 14, 2020 - 3:06 am

Thai Court Allows Thai Airways To File For Reorganization

BANGKOK (AP) — Thailand’s Central Bankruptcy Court on Monday gave the go-ahead to financially ailing Thai Airways International to submit a business reorganization plan and appointed seven planners to oversee it. A press release from the airline said the plan should be submitted to the court by the...
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A person walk in front of a building with the logo of the insolvent company Wirecard in Aschheim near Munich, Germany, Tuesday, Sept. 1, 2020. German opposition parties plan to force the launch of a parliamentary inquiry into the downfall of bankrupt payment company Wirecard. (Peter Kneffel/dpa via AP)
September 03, 2020 - 10:21 am

German Prosecutors Drop Probe Of Journalists Over Wirecard

BERLIN (AP) — German prosecutors said Thursday they have closed an investigation into two journalists with the Financial Times that was launched following reports last year about allegations of irregularities at now-bankrupt payment company Wirecard. Wirecard's shares plunged following the reports...
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August 31, 2020 - 3:31 pm

Attorneys Argue Over Ads Targeting Boy Scouts Abuse Victims

DOVER, Del. (AP) — The judge overseeing the Boy Scouts of America bankruptcy is mulling a request to address what attorneys for the BSA claim are misleading and confusing advertisements from law firms trying to solicit business from survivors of child sexual abuse. A hearing on a motion by the Boy...
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FILE - In this Wednesday, May 27, 2020, file photo, shoppers walk past a Nordstrom window display at The Grove shopping center in Los Angeles. On Tuesday, Aug. 25, 2020, Nordstrom Inc. reported a larger-than-expected loss and a 53% drop in sales for its fiscal second quarter, during which the pandemic forced the upscale department store chain to temporarily close its stores. (AP Photo/Marcio Jose Sanchez, File)
August 25, 2020 - 3:04 pm

Nordstrom's 2Q Sales Down 53% Hurt By Pandemic Fallout

NEW YORK (AP) — Nordstrom Inc. on Tuesday reported a larger-than-expected loss and a 53% drop in sales for its fiscal second quarter, during which the pandemic forced the upscale department store chain to temporarily close its stores. The Seattle-based retailer's business was also hurt by the shift...
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FILE - In this Jan. 28, 2013, file photo, firearms training unit Detective Barbara J. Mattson, of the Connecticut State Police, holds up a Bushmaster AR-15 rifle made by Remington Arms, the same make and model of the gun used by Adam Lanza in the December 2012 Sandy Hook School shooting, during a hearing of a legislative subcommittee in Hartford, Conn. On Tuesday, Aug. 18, 2020, a lawyer for some of the Sandy Hook school shooting victims accused Remington Arms of using its new bankruptcy case to try to wipe out the families' lawsuit against the company over how it marketed the rifle used in the massacre. (AP Photo/Jessica Hill, File)
August 18, 2020 - 12:48 pm

Sandy Hook Families: Gun Maker Trying To Wipe Out Lawsuit

HARTFORD, Conn. (AP) — A lawyer for some of the Sandy Hook school shooting victims' families accused Remington Arms on Tuesday of using its new bankruptcy case to try to wipe out their lawsuit over how the company marketed the rifle used in the massacre. An attorney for Remington denied the...
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FILE - In this June 25, 2020 file photo, a price sign is displayed at a retail store as a store employee wears a mask while working in Niles, Ill. Small businesses are in limbo again as the coronavirus outbreak rages and the government’s $659 billion relief program draws to a close. Companies still struggling with sharply reduced revenue are wondering if Congress will give them a second chance at the Paycheck Protection Program, which ends Friday, Aug. 7, after giving out 5.1 million loans worth $523 billion. (AP Photo/Nam Y. Huh, File)
August 14, 2020 - 6:24 am

Us Retail Sales Regain Pre-Virus Level But Slowdown Likely

WASHINGTON (AP) — Americans increased their retail purchases by 1.2% in July, with solid gains in appliances and clothing helping restore sales to their level before the viral pandemic erupted in March. Sales at retail stores and restaurants have now risen for three straight months, after plunges...
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August 13, 2020 - 7:33 am

Bankrupt Alaska Airline Seeks Bonus For Its Chief Executive

ANCHORAGE, Alaska (AP) — The largest rural airline in Alaska has declared bankruptcy and laid off more than a thousand workers but wants to award $250,000 in bonus money to its chief executive and other employees. Anchorage-based RavnAir Group filed the request Tuesday in Delaware bankruptcy court...
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August 13, 2020 - 12:30 am

German Investigators Appeal For Help Finding Tech Executive

BERLIN (AP) — German investigators are appealing for the public's help in tracking down the former chief operating officer of bankrupt payment company Wirecard who is facing allegations of fraud and other charges. Federal police issued a wanted poster late Wednesday for Jan Marsalek, saying the 40-...
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Exterior of a Stein Mart location
© Kelly Tyko, TCPalm via USA TODAY NETWORK
Associated Press
August 12, 2020 - 10:56 am

Stein Mart Files For Bankruptcy; To Close Nearly 300 Stores

ST. PETERSBURG, Fla. (AP) — National discount department store chain Stein Mart filed for bankruptcy on Wednesday after 112 years in business, and announced that it will close most, if not all, of its 280 stores. “The combined effects of a challenging retail environment coupled with the impact of...
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