#bankruptcy

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#fraud

Decades After Its Collapse in Multibillion Dollar Fraud, Enron Shocks and Confuses With Announcement of Its Apparent Relaunch

The revival of the Enron brand on social media raises questions about the company's intentions and public perception after its infamous collapse.

Alex Mashinsky: founder of bankrupt crypto firm to plead guilty to fraud

Alex Mashinsky of Celsius Network plans to plead guilty to two counts of fraud, following federal charges relating to deceiving investors and market manipulation.

AI Founder Promised Amazing Chatbot to Public Schools, Then Allegedly Spent the Money on a Lavish Wedding and Mansion

Joanna Smith-Griffin allegedly misused funds from her AI ed tech firm, leading to bankruptcy and criminal charges.

MoviePass ex-CEO pleads guilty to defrauding investors

Ex-CEO Ted Farnsworth pled guilty to defrauding investors regarding MoviePass's unsustainable business model and misleading claims about profitability.

Decades After Its Collapse in Multibillion Dollar Fraud, Enron Shocks and Confuses With Announcement of Its Apparent Relaunch

The revival of the Enron brand on social media raises questions about the company's intentions and public perception after its infamous collapse.

Alex Mashinsky: founder of bankrupt crypto firm to plead guilty to fraud

Alex Mashinsky of Celsius Network plans to plead guilty to two counts of fraud, following federal charges relating to deceiving investors and market manipulation.

AI Founder Promised Amazing Chatbot to Public Schools, Then Allegedly Spent the Money on a Lavish Wedding and Mansion

Joanna Smith-Griffin allegedly misused funds from her AI ed tech firm, leading to bankruptcy and criminal charges.

MoviePass ex-CEO pleads guilty to defrauding investors

Ex-CEO Ted Farnsworth pled guilty to defrauding investors regarding MoviePass's unsustainable business model and misleading claims about profitability.
morefraud
#acquisition

Money for tech that matters | TechCrunch

Startups are actively addressing significant industry challenges with substantial funding rounds.
Economic conditions lead to both promising and challenging developments within the startup ecosystem.

RadioShack is back (kind of) | TechCrunch

RadioShack has transformed under new ownership with plans to rebrand and reinvigorate its legacy in the consumer electronics market.

Money for tech that matters | TechCrunch

Startups are actively addressing significant industry challenges with substantial funding rounds.
Economic conditions lead to both promising and challenging developments within the startup ecosystem.

RadioShack is back (kind of) | TechCrunch

RadioShack has transformed under new ownership with plans to rebrand and reinvigorate its legacy in the consumer electronics market.
moreacquisition
#financial-struggles

Big Lots is closing every store: Going-out-of-business sales will be held at all remaining locations 'in the coming days'

Big Lots is closing all stores and ceasing operations due to financial struggles and failed sale negotiations.

Big Lots liquidation looms after plan to sell to Nexus Capital falls apart

Big Lots faces potential liquidation as it struggles with inventory valuation issues and mounting pressure from landlords and creditors amid declining sales.

Yoel Goldman puts planned Crown Heights hotel site into bankruptcy

Yoel Goldman's real estate comeback is hindered by bankruptcy and financial struggles, affecting his real estate projects.

Big Lots is closing every store: Going-out-of-business sales will be held at all remaining locations 'in the coming days'

Big Lots is closing all stores and ceasing operations due to financial struggles and failed sale negotiations.

Big Lots liquidation looms after plan to sell to Nexus Capital falls apart

Big Lots faces potential liquidation as it struggles with inventory valuation issues and mounting pressure from landlords and creditors amid declining sales.

Yoel Goldman puts planned Crown Heights hotel site into bankruptcy

Yoel Goldman's real estate comeback is hindered by bankruptcy and financial struggles, affecting his real estate projects.
morefinancial-struggles

'Catwoman' Jocelyn Wildenstein, known for extreme plastic surgery addiction, dead at 84

Jocelyn Wildenstein, known as 'The Catwoman,' passed away at 84 from a pulmonary embolism, reflecting her notable life of wealth and later struggles.
#spirits-industry

BevNET's Most Read Spirits Stories Of 2024

The spirits industry saw significant changes with bankruptcy filings, celebrity involvement, and creative marketing successes, indicating a dynamic landscape.

Struggling budget vodka maker Stoli has filed for bankruptcy as Gen Z turns away from alcohol

Stoli Group USA filed for Chapter 11 bankruptcy due to significant financial difficulties and shifting consumer trends in the spirits market.

BevNET's Most Read Spirits Stories Of 2024

The spirits industry saw significant changes with bankruptcy filings, celebrity involvement, and creative marketing successes, indicating a dynamic landscape.

Struggling budget vodka maker Stoli has filed for bankruptcy as Gen Z turns away from alcohol

Stoli Group USA filed for Chapter 11 bankruptcy due to significant financial difficulties and shifting consumer trends in the spirits market.
morespirits-industry
#retail

Party City wraps up 40 years in business, will close all locations imminently

Party City is closing all stores and ceasing operations due to financial issues and changing consumer shopping habits.

Big Lots reaches deal to keep hundreds of US stores open

Big Lots has reached a deal to remain operational after bankruptcy by selling to Gordon Brothers, preserving jobs and the brand through store transfers.

Party City is going out of business

Party City is shutting down all stores after nearly 40 years in business due to unresolvable financial challenges.

Party City closing all stores nationwide, at least 80 of them in California

Party City is shutting down all stores due to declining sales and financial pressure. This marks the end of an era for the retailer.

Big Lots says it found a buyer that will keep some stores open

Big Lots reached a deal to potentially keep at least 200 stores open and preserve thousands of jobs following bankruptcy proceedings.

Party City files for bankruptcy and plans to shutter nationwide

Party City is closing all locations after 40 years due to unmanageable economic pressures and competition.

Party City wraps up 40 years in business, will close all locations imminently

Party City is closing all stores and ceasing operations due to financial issues and changing consumer shopping habits.

Big Lots reaches deal to keep hundreds of US stores open

Big Lots has reached a deal to remain operational after bankruptcy by selling to Gordon Brothers, preserving jobs and the brand through store transfers.

Party City is going out of business

Party City is shutting down all stores after nearly 40 years in business due to unresolvable financial challenges.

Party City closing all stores nationwide, at least 80 of them in California

Party City is shutting down all stores due to declining sales and financial pressure. This marks the end of an era for the retailer.

Big Lots says it found a buyer that will keep some stores open

Big Lots reached a deal to potentially keep at least 200 stores open and preserve thousands of jobs following bankruptcy proceedings.

Party City files for bankruptcy and plans to shutter nationwide

Party City is closing all locations after 40 years due to unmanageable economic pressures and competition.
moreretail

How Bench's bankruptcy caused accounting chaos

Organizations must monitor critical data closely to avoid disruptions observed in the Bench Accounting shutdown.

It wasn't all bad: 7 hopeful news moments from 2024

2024 was marked by significant struggles across industries, yet notable pop culture moments provided comfort and joy amid the turmoil.

Opinion | What's the Matter With Chicago?

Chicago faces a $982 million budget deficit mostly due to excessive retirement benefits and a failure to fund pensions, leading to fiscal instability.
#volocopter

Mercedes-backed Volocopter files for bankruptcy | TechCrunch

Volocopter, a German electric air taxi company, has filed for bankruptcy protection while seeking new investors to stabilize operations.

German flying taxi startup Volocopter files for bankruptcy DW 12/30/2024

Volocopter has filed for bankruptcy but is still pursuing market entry for its air taxi services with hopes of finding investors.

Mercedes-backed Volocopter files for bankruptcy | TechCrunch

Volocopter, a German electric air taxi company, has filed for bankruptcy protection while seeking new investors to stabilize operations.

German flying taxi startup Volocopter files for bankruptcy DW 12/30/2024

Volocopter has filed for bankruptcy but is still pursuing market entry for its air taxi services with hopes of finding investors.
morevolocopter

Judicial Scandal Casts Shadow on JC Penney Bankruptcy Case

The JC Penney bankruptcy restructuring is under scrutiny due to allegations of impropriety involving a judge's personal relationship with a law firm partner.

A health care provider that faced dozens of prisoner lawsuits is filing for bankruptcy

Wellpath's bankruptcy is delaying justice for families suing over incarcerated individuals' medical neglect, highlighting issues of accountability in healthcare for prisoners.
#fisker

The fall of EV startup Fisker: A comprehensive timeline | TechCrunch

Fisker faced multiple crises leading to bankruptcy, including unmet production and sales targets, significant quality issues, and financial distress.

Fisker, A Bankrupt Automaker, Sold More EVs Than Volkswagen In October

Fisker, despite bankruptcy, outsold Volkswagen in October EV registrations due to liquidation sales of discounted vehicles.

NHTSA ends its probe into Fisker Ocean units after update

NHTSA closes investigation into Fisker after software fix for shifting issue, enhancing vehicle safety.

The fall of EV startup Fisker: A comprehensive timeline | TechCrunch

Fisker faced multiple crises leading to bankruptcy, including unmet production and sales targets, significant quality issues, and financial distress.

Fisker, A Bankrupt Automaker, Sold More EVs Than Volkswagen In October

Fisker, despite bankruptcy, outsold Volkswagen in October EV registrations due to liquidation sales of discounted vehicles.

NHTSA ends its probe into Fisker Ocean units after update

NHTSA closes investigation into Fisker after software fix for shifting issue, enhancing vehicle safety.
morefisker
#store-closures

December's mini-retail apocalypse rounded off a rough year for US stores

Retailers like The Container Store, Party City, and Big Lots face significant challenges, including bankruptcy, store closures, and declining consumer spending amid inflation.

Party City to go out of business for good: reports | amNewYork

Party City is closing all stores nationwide, marking the end of its operations, including locations in New York City.

What happened to Big Lots? Here are the stores in Miami and Broward closing for good

Big Lots is closing all its stores after filing for Chapter 11 bankruptcy, marking the end of a significant discount retail presence.

Party City to shut down in U.S., but Canadian stores unaffected | CBC News

Party City is closing all U.S. locations while Canadian operations will continue unaffected.
The closures follow a recent exit from bankruptcy and major debt cancellation.

December's mini-retail apocalypse rounded off a rough year for US stores

Retailers like The Container Store, Party City, and Big Lots face significant challenges, including bankruptcy, store closures, and declining consumer spending amid inflation.

Party City to go out of business for good: reports | amNewYork

Party City is closing all stores nationwide, marking the end of its operations, including locations in New York City.

What happened to Big Lots? Here are the stores in Miami and Broward closing for good

Big Lots is closing all its stores after filing for Chapter 11 bankruptcy, marking the end of a significant discount retail presence.

Party City to shut down in U.S., but Canadian stores unaffected | CBC News

Party City is closing all U.S. locations while Canadian operations will continue unaffected.
The closures follow a recent exit from bankruptcy and major debt cancellation.
morestore-closures
#party-city

Party City is reportedly going out of business and closing all stores

Party City is winding down operations due to severe financial difficulties exacerbated by the COVID-19 pandemic and sustained debt.

Party City closing all stores nationwide, at least 80 of them in California

Party City is closing all stores due to lagging sales and unable to pay rent, marking the end of its decades-long operation.

No more Party City? See the South Florida locations that are going out of business

Party City has filed for Chapter 11 bankruptcy and will close all 750 stores, urging customers to shop quickly for supplies while still available.

Party City is reportedly going out of business and closing all stores

Party City is winding down operations due to severe financial difficulties exacerbated by the COVID-19 pandemic and sustained debt.

Party City closing all stores nationwide, at least 80 of them in California

Party City is closing all stores due to lagging sales and unable to pay rent, marking the end of its decades-long operation.

No more Party City? See the South Florida locations that are going out of business

Party City has filed for Chapter 11 bankruptcy and will close all 750 stores, urging customers to shop quickly for supplies while still available.
moreparty-city

Amsterdam's Wizenoze shuts shops: Know more - Silicon Canals

Wizenoze, an online education platform, declared bankruptcy due to funding issues and challenges posed by generative AI.
#oakland-diocese

Sexual abuse victims testify against Oakland Diocese bankruptcy amid lawsuits

Survivors of childhood sexual abuse addressed the court to share their experiences amid bankruptcy proceedings of the Oakland Diocese.

Oakland Catholic Diocese Accused of Hiding $106 Million in Assets So They Wouldn't Have to Pay Sex Abuse Victims

Oakland Diocese declared bankruptcy to settle sex abuse claims but may have hidden assets to evade victim compensation.

Sexual abuse victims testify against Oakland Diocese bankruptcy amid lawsuits

Survivors of childhood sexual abuse addressed the court to share their experiences amid bankruptcy proceedings of the Oakland Diocese.

Oakland Catholic Diocese Accused of Hiding $106 Million in Assets So They Wouldn't Have to Pay Sex Abuse Victims

Oakland Diocese declared bankruptcy to settle sex abuse claims but may have hidden assets to evade victim compensation.
moreoakland-diocese
from Eater SF
2 weeks ago

San Francisco's 10 Biggest Restaurant Stories of 2024

2024 was a significant year for San Francisco food stories, highlighted by bankruptcies, restaurant openings, and culinary recognition.

How a student-loan borrower got $155,000 in debt wiped out through bankruptcy using new relief guidance

Biden's new bankruptcy guidance facilitated student loan discharges, helping borrowers like Alrena Dale achieve long-awaited financial relief.

Lund-Based Pengu Studios Declares Bankruptcy Amid Funding Challenges

Pengu Studios, a startup simplifying TTRPGs, has filed for bankruptcy due to insufficient traction and low revenue despite funding and a free platform model.

Where Food Waste Goes In Southern California | KQED

CRC's bankruptcy recovery raises environmental concerns about oil well cleanup responsibilities in California.

Ocean State Job Lot buys shopping plaza, plans to take over former Christmas Tree Shops space

Ocean State Job Lot is expanding by taking over a former Christmas Tree Shops location, opening in 2025 and creating 70 new jobs.

CA Cannabis Industry Could Face New Hurdle in 2025

California's cannabis industry is facing mounting challenges with federal legalization looking unlikely, leading to bankruptcies and losses among companies.

Opioid Maker Avoids Massive Federal Penalty Through Bankruptcy, Slow-Moving DOJ

The Justice Department reached a settlement with Endo Health Solutions for a reduced penalty of $200 million, despite initial claims of a $1.5 billion fine.

Trump touts $100B commitment from infamous investor in Bay Area tech

Masayoshi Son plans to invest $100 billion in the U.S. over four years, significantly reinforcing his previous commitments and job creation efforts.

Remember Redbox? Meet the People Bringing These Old Machines Into Their Homes

Redbox machines' demise has sparked a DIY movement, giving them new life as tinkerers repurpose abandoned kiosks amid the company's bankruptcy.
#healthcare

The Gilded Age of Medicine Is Here

The acquisition of Steward Health Care by Cerberus Capital Management led to severe operational failures, impacting patient care and resulting in bankruptcy.

Morning Docket: 12.11.24

The Supreme Court's autonomy in case selection poses risks to judicial accountability.
United Healthcare intensifies claims denial strategies impacting patient care.
Alex Jones' bankruptcy resolution raises accountability issues.
Judiciary blocks major grocery merger to maintain market competition.

The Gilded Age of Medicine Is Here

The acquisition of Steward Health Care by Cerberus Capital Management led to severe operational failures, impacting patient care and resulting in bankruptcy.

Morning Docket: 12.11.24

The Supreme Court's autonomy in case selection poses risks to judicial accountability.
United Healthcare intensifies claims denial strategies impacting patient care.
Alex Jones' bankruptcy resolution raises accountability issues.
Judiciary blocks major grocery merger to maintain market competition.
morehealthcare
#infowars

Bidders are back in court battling over the auction of Alex Jones' Infowars

The future of Alex Jones' Infowars show hangs in the balance due to ongoing bankruptcy proceedings and a contentious auction.

Judge Rejects Sale of Infowars to The Onion: What to Know

The auction sale of Alex Jones' Infowars to The Onion was rejected due to a flawed bidding process and inadequate compensation for Sandy Hook families.

'The Onion''s winning bid on Alex Jones's Infowars gets rejected by a judge. Here's why

The federal judge rejected the sale of Infowars, citing auction flaws and concern for Sandy Hook families' compensation.

Bankruptcy judge rules against The Onion's acquisition of Infowars

The Onion's acquisition of Infowars was blocked by a bankruptcy judge due to a flawed auction process.

Was the Infowars auction fair? A judge wants to hear arguments in December

The sale of Alex Jones' Infowars to The Onion faces scrutiny over allegations of a rigged auction process.

The Onion's bid to buy Infowars is still in court

The Onion seeks to acquire Infowars to create parodies, facing scrutiny in bankruptcy court.

Bidders are back in court battling over the auction of Alex Jones' Infowars

The future of Alex Jones' Infowars show hangs in the balance due to ongoing bankruptcy proceedings and a contentious auction.

Judge Rejects Sale of Infowars to The Onion: What to Know

The auction sale of Alex Jones' Infowars to The Onion was rejected due to a flawed bidding process and inadequate compensation for Sandy Hook families.

'The Onion''s winning bid on Alex Jones's Infowars gets rejected by a judge. Here's why

The federal judge rejected the sale of Infowars, citing auction flaws and concern for Sandy Hook families' compensation.

Bankruptcy judge rules against The Onion's acquisition of Infowars

The Onion's acquisition of Infowars was blocked by a bankruptcy judge due to a flawed auction process.

Was the Infowars auction fair? A judge wants to hear arguments in December

The sale of Alex Jones' Infowars to The Onion faces scrutiny over allegations of a rigged auction process.

The Onion's bid to buy Infowars is still in court

The Onion seeks to acquire Infowars to create parodies, facing scrutiny in bankruptcy court.
moreinfowars
#sandy-hook

Alex Jones Hires New Counsel For Screaming Tantrum Phase Of Bankruptcy

Alex Jones's bankruptcy case faces intense scrutiny with new lawyer Shelby Jordan taking aggressive legal action against Sandy Hook parents.

The Onion's controversial purchase of Alex Jones' Infowars stopped by US judge

The auction for Infowars was flawed, leading to undervalued bids amid Jones' significant bankruptcy debts. Judge Lopez criticized the hasty auction process.

Alex Jones's Lawyer Objects To Entering His Client's Words Into The Record

Alex Jones continues to fight legal battles over his bankruptcy proceedings and personal IP rights after a recent change in representation.

Alex Jones Hires New Counsel For Screaming Tantrum Phase Of Bankruptcy

Alex Jones's bankruptcy case faces intense scrutiny with new lawyer Shelby Jordan taking aggressive legal action against Sandy Hook parents.

The Onion's controversial purchase of Alex Jones' Infowars stopped by US judge

The auction for Infowars was flawed, leading to undervalued bids amid Jones' significant bankruptcy debts. Judge Lopez criticized the hasty auction process.

Alex Jones's Lawyer Objects To Entering His Client's Words Into The Record

Alex Jones continues to fight legal battles over his bankruptcy proceedings and personal IP rights after a recent change in representation.
moresandy-hook

Putin and ransomware blamed for Stoli US bankruptcy filing

Stoli Group's US subsidiaries filed for bankruptcy protection due to financial struggles worsened by a ransomware attack and a prolonged legal battle.
#spirit-airlines

United CEO Thinks Spirit Will Liquidate Assets Following Bankruptcy - What That Could Mean for Travelers

Spirit Airlines faces skepticism regarding its bankruptcy restructuring plans and the likelihood of its survival among industry leaders.

Spirit executive: Other airlines want us out of business

Spirit Airlines' financial woes are partly due to mainline carriers' actions, including creating a pilot shortage and poaching pilots.
Legacy airlines' strategies during the pandemic have resulted in operational challenges for Spirit Airlines. They have repositioned their business model post-bankruptcy.

Spirit Airlines' Black Friday Sale Has Flights to Fort Lauderdale, Myrtle Beach, and More Starting at Just $25

Spirit Airlines is offering Black Friday deals with flights from $25 and loyalty point bonuses despite recent bankruptcy filing.

United CEO Thinks Spirit Will Liquidate Assets Following Bankruptcy - What That Could Mean for Travelers

Spirit Airlines faces skepticism regarding its bankruptcy restructuring plans and the likelihood of its survival among industry leaders.

Spirit executive: Other airlines want us out of business

Spirit Airlines' financial woes are partly due to mainline carriers' actions, including creating a pilot shortage and poaching pilots.
Legacy airlines' strategies during the pandemic have resulted in operational challenges for Spirit Airlines. They have repositioned their business model post-bankruptcy.

Spirit Airlines' Black Friday Sale Has Flights to Fort Lauderdale, Myrtle Beach, and More Starting at Just $25

Spirit Airlines is offering Black Friday deals with flights from $25 and loyalty point bonuses despite recent bankruptcy filing.
morespirit-airlines
#restaurant-industry

How America Lost Its Taste for the Middle

Middle-tier casual dining restaurants like TGI Fridays and Denny's are struggling due to changing consumer preferences and inflation.

Eegee's restaurant closes Arizona locations as it becomes the latest 2024 fast food bankruptcy

Eegee's is filing for Chapter 11 bankruptcy due to financial struggles from decreased customer traffic and increased operational costs.

How America Lost Its Taste for the Middle

Middle-tier casual dining restaurants like TGI Fridays and Denny's are struggling due to changing consumer preferences and inflation.

Eegee's restaurant closes Arizona locations as it becomes the latest 2024 fast food bankruptcy

Eegee's is filing for Chapter 11 bankruptcy due to financial struggles from decreased customer traffic and increased operational costs.
morerestaurant-industry

A new Enron website just popped up declaring the disgraced company is back and hiring. Former employees who 'lost everything' think it's a 'sick joke'

A parody effort is attempting to resurrect Enron, alarming former employees who suffered from its notorious corporate fraud.

Met drops probe into council's financial woes

The police dropped the investigation into financial mismanagement at Croydon Council, citing no evidence of criminal misconduct despite significant governance failures.

High Court dismisses Sean Dunne's challenge to appointments of bankruptcy trustees

Mr Dunne's bankruptcy exit case dismissed for procedural flaws and unreasonable conduct.

Fisker Ocean Owner Review: $69,012 To $13,500 In One Year

The Fisker Ocean depreciated massively, losing 80% of its value within 10 months, following poor performance and company bankruptcy.

Things aren't looking good for infamous CEO of "health care terrorists"

Steward Health's financial practices raise serious legal concerns, highlighted by investigations and troubling allegations regarding the treatment of a patient's death.

Elon Musk's X files last-minute objection to block the sale of Alex Jones' X accounts

The Alex Jones trial may redefine ownership of social media accounts and digital assets.
#northvolt

Northvolt files for bankruptcy-putting the breaks on Europe's EV dreams

Northvolt, a leading Swedish battery cell maker, has filed for Chapter 11 bankruptcy protection, jeopardizing European efforts to reduce reliance on Chinese battery makers.

Swedish battery champion Northvolt facing financial meltdown as CEO resigns

Northvolt's CEO resigns amid financial turmoil and bankruptcy protection filing, highlighting the company's efforts to reorganize and stabilize.

Volkswagen slashes the value of its stake in Northvolt, the beleaguered battery manufacturer | TechCrunch

Volkswagen's investment in Northvolt has plummeted due to the company's financial instability and bankruptcy filing.

Northvolt files for bankruptcy-putting the breaks on Europe's EV dreams

Northvolt, a leading Swedish battery cell maker, has filed for Chapter 11 bankruptcy protection, jeopardizing European efforts to reduce reliance on Chinese battery makers.

Swedish battery champion Northvolt facing financial meltdown as CEO resigns

Northvolt's CEO resigns amid financial turmoil and bankruptcy protection filing, highlighting the company's efforts to reorganize and stabilize.

Volkswagen slashes the value of its stake in Northvolt, the beleaguered battery manufacturer | TechCrunch

Volkswagen's investment in Northvolt has plummeted due to the company's financial instability and bankruptcy filing.
morenorthvolt

Goldman funds take $900 million hit on Northvolt, FT says

Goldman Sachs Asset Management to write off nearly $900 million in Northvolt investments following its bankruptcy protection filing.
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