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Money Grocery chain Fairway files for bankruptcy

Fairway said it has secured $55 million in financing for the reorganization.Fairway has cited competition from other grocers -- Whole Foods, Trader Joe's -- online shopping and discounting by other retailers as pressure points. Shares are down more than 70% this year.Fairway listed liabilities of $387 million and assets of $230 million in Chapter 11 documents filed Monday in Manhattan bankruptcy court, according to Bloomberg.Follow Mike Snider on Twitter: @MikeSnider.
USA Today
03/05
10 Points
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Money Company behind 'American Idol' files for bankruptcy

.In 2014, earnings from Idol fell $15 million, and the decline intensified in 2015 as a drop in airtime to 42 hours from 56.5 hours led to lower premium production fees and forced the company to spread fixed costs over fewer production hours, Hurwitz said in the filing.
USA Today
28/04
16 Points
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Englewood grappling with likely loss of Sports Authority corporate HQ

But on Tuesday, company attorney Robert Klyman told a bankruptcy judge that creditors had made reorganization impossible and that the company would now pursue a sale of its assets.Keck said city officials have already reached out to the owner of the Sports Authority corporate building, Denver-based Etkin Johnson Real Estate Partners, to gauge their plans for the property. "This is a terrible blow to our community," Englewood city manager Eric Keck said Wednesday.
The Denver Post
28/04
17 Points
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Sports Authority gives up hope of survival, will go to auction

But under Chapter 7, the creditors are on the hook for those costs.The Wall Street Journal contributed to this report. One was to pare down non-performing stores and emerge from bankruptcy with its independence intact. "It is more likely it will be stripped for parts."Another unresolved question is who will get to oversee the company's liquidation . That's because under Chapter 11, Sports Authority is responsible for its rent payments and other administrative costs.
The Denver Post
27/04
23 Points
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Why Sports Authority is headed for bankruptcy

"If they do go into bankruptcy and if they do close stores, what they'll blame it on is underperforming stores," Schallert said. Sports Authority leadership has begun negotiations with lenders on a deal to reorganize through Chapter 11 bankruptcy, Bloomberg reported this month. "In reality, it's not underperforming stores. It's stores that no longer meet the needs of demanding consumers."Reinvention is a really hard thing.
The Denver Post
27/04
8 Points
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Sports Sports Authority gives up hope of survival, will go to auction

Sports Authority has abandoned hope of reorganizing and exiting bankruptcy and instead will count on buyers to save parts of its sprawling retail chain, company lawyer Robert Klyman told a judge Tuesday."It has become apparent that the debtors will not reorganize under a plan but instead will pursue a sale," Klyman told Judge Mary Walrath at a hearing in the U.S.
The Denver Post
27/04
22 Points
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Why Sports Authority is headed for bankruptcy

"If they do go into bankruptcy and if they do close stores, what they'll blame it on is underperforming stores," Schallert said. Sports Authority leadership has begun negotiations with lenders on a deal to reorganize through Chapter 11 bankruptcy, Bloomberg reported this month. "In reality, it's not underperforming stores. It's stores that no longer meet the needs of demanding consumers."Reinvention is a really hard thing.
The Denver Post
27/04
8 Points
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Money How Wall Street enabled Detroit's collapse: book excerpt

Eventually the banks agreed not to demand the termination payment from Detroit.  Detroit was tapped out.Several years before his conviction on unrelated federal corruption charges, Mayor Kwame Kilpatrick wanted Detroit to borrow $1.4 billion to fund pensions . Their principal concern was not whether Detroit could afford the debt payments. They didn’t in their wildest dreams expect to get everything they asked for.”Excerpted from Detroit Resurrected: To Bankruptcy and Back by Nathan Bomey.
USA Today
25/04
8 Points
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Money Goodrich Petroleum files for Chapter 11 bankruptcy

In North America, at least 59 oil and gas producers have filed for bankruptcy since the beginning of 2015, according to an April report by law firm Haynes and Boone. On Thursday, another Houston company Energy XXI Ltd. (EXXI), with operations in and along the Gulf of Mexico, also filed for bankruptcy. And on Wednesday, the largest coal miner in the U.S., Peabody Energy, filed for bankruptcy.Overall, Goodrich owns interests in 193 oil and natural gas wells within 43 fields in eight states.
USA Today
15/04
12 Points
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Sports Authority pushes back bankruptcy auction amid high interest

Amid the bankruptcy process, Sports Authority butted heads with some of its suppliers. has pushed back the date for a planned bankruptcy auction amid "substantial" interest from several potential bidders, a company lawyer said Thursday. Martorana said the extended sale schedule was a concession to landlord concerns that a chain of 464 stores was being dismantled too quickly.Sports Authority employed about 13,000 people at the time it filed for bankruptcy in March.
The Denver Post
14/04
17 Points

Money Peabody, largest US coal miner, seeks bankruptcy protection

Peabody, will continue to operate as it moves through the bankruptcy process. "So bankruptcy is not a surprise ... that they would want to kind of reset the clock." . The company's bankruptcy filing comes less than three months after another from Arch Coal, the country's second-largest miner, which followed bankruptcy filings from Alpha Natural Resources, Patriot Coal and Walter Energy. Mines and offices at Peabody, a company founded in 1833 by 24-year-old Francis S.
San Jose Mercury News
13/04
21 Points
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Peabody, largest US coal miner, seeks bankruptcy protection

Peabody, will continue to operate as it moves through the bankruptcy process. Louis miner filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Eastern District of Missouri and has obtained $800 million in debtor-in-possession financing facilities. "So bankruptcy is not a surprise ... that they would want to kind of reset the clock."Denver Post staff writer Jennifer Brown and AP reporter Mead Gruver contributed to this report.
The Denver Post
14/04
14 Points
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Coal giant Peabody Energy files for Chapter 11 bankruptcy

environmental regulatory pressure have compounded the financial pressures facing coal companies,which include costs such as pensions and retiree health care obligations, analysts say.Peabody has posted four consecutive yearly losses, including a $2 billion loss in 2015 as revenue fell 17% to $5.6 billion.The company listed $10.1 billion in debts and $11 billion in assets, including ownership interest in 26 active mines in the U.S.
USA Today
13/04
10 Points
1

People 50 Cent plans to dole out nearly $23 million over five years to pay off debt 

@50cent via Instagram The rapper has raised doubt about his broke-state after flaunting piles of money on Instagram. @50cent via Instagram The rapper claims these showy photos are fake. Jessica Hill/AP Fifty Cent's payment plan has yet to be approved by a judge and comes on the heels of the rapper reaching a deal last month which would see his biggest creditors receive %74 of what he owes them. Enlarge The rapper claims these showy photos are fake.
Daily News
13/04
14 Points
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