Foxtrot's Founder May Mount a Comeback as Parent Company Files for Bankruptcy
Foxtrot and Dom's Kitchen & Market filed for Chapter 7 bankruptcy after its assets were sold at auction, with plans to revive Foxtrot under co-founder Mike LaVitola. [ more ]
WeWork to Ditch 92K sf at Gas Company Tower in Downtown LA
WeWork is exiting a landmark office location in Downtown Los Angeles due to unsuccessful negotiations with the landlord.
WeWork is strategically ending its operations at Gas Company Tower in line with the bankruptcy protection and lease renegotiations to save more than $1.5 billion. [ more ]
In Bankruptcy, Giuliani Set a $43,000 Monthly Budget. Creditors Are Skeptical.
Rudolph W. Giuliani's bankruptcy filing revealed a proposed $43,000 monthly budget that he ultimately exceeded, raising concerns among his creditors. [ more ]
Will Former Stroock Partners Ever See Their Capital Again?
The advisory firm Teneo is working to wind down the failed firm Stroock & Stroock & Lavan without a bankruptcy filing.
Former partners may not receive a distribution of capital as they are last in line after winddown costs, payments to lenders, and payments to unsecured creditors. [ more ]
Which Teams Are Most Likely To Sign The Top Remaining Free Agents?
Scott Boras's reputation for letting his players linger on the market has yielded mixed results but has resulted in significant deals being done late in the offseason.
The ongoing bankruptcy of Diamond Sports Group is impacting the winter market, with clubs cutting back payroll due to uncertainty around broadcast revenue, affecting player signings. [ more ]
What to Know About the Purdue Pharma Case Before the Supreme Court
The Supreme Court heard arguments over a bankruptcy deal for Purdue Pharma that would shield the Sackler family from additional opioid-related lawsuits.
The court's decision could have significant consequences for other cases that use the bankruptcy system to settle mass injury claims. [ more ]
Steward Health Care filed for bankruptcy. How will you be impacted?
Steward Health Care, the largest for-profit hospital chain, filed for Chapter 11 bankruptcy, aiming to restructure debts under court supervision while continuing hospital operations. [ more ]
Owner of five hospitals in South Florida files for bankruptcy. Will it affect you?
Steward Health Care, the largest physician-owned healthcare network in the U.S., filed for Chapter 11 bankruptcy, ensuring patient care continues. [ more ]
Why a healthcare giant has slowed care at a Miami hospital, and where it leaves patients
Dr. Christ-Ann Magloire worked to deliver babies in underserved areas for over 20 years, but North Shore Medical Center and Palmetto General are facing financial difficulties and are up for sale. [ more ]
Logistics Report: Shipping Recovery Stacking Up; China's Carmakers Look Past U.S. Market
U.S. inflation eased in April, retail sales flat, oil-demand forecast cut, Thyssenkrupp lowers outlook, Red Lobster bankruptcy expected, tanker sector in bull market. [ more ]
Supreme Court Hears Arguments About Refunding Bankruptcy Fees
The US Supreme Court is considering whether the federal government should refund extra fees collected from bankrupt companies under a statute that was later declared unconstitutional.
The law in question increased the fees charged in bankruptcy cases supervised by the US Trustee Program. [ more ]
Adam Neumann is trying to buy back WeWork | TechCrunch
Adam Neumann is attempting to buy WeWork out of bankruptcy.
Neumann claims to have previously worked to arrange up to $1 billion of financing to stabilize WeWork but the former CEO shut down that process without explanation. [ more ]
Sunak to give councils 500m in emergency bailout amid cash crisis
Local authorities in England will receive an emergency bailout from the government to prevent bankruptcy.
Upper tier councils will receive an additional 500m for social care while lower tier districts will receive a boost of approximately 30 to 40m. [ more ]
AdLib Is Reintegrating With MediaMath (By Infillion This Time)
MediaMath's new owner, Infillion, has partnered with AdLib, a programmatic media buying platform, in a reintegration after MediaMath declared bankruptcy in June 2021.
Following the bankruptcy, AdLib had to quickly form new partnerships with other DSPs such as Xandr, Adform, Criteo, Google's DV360, Beeswax, Moloco, and Kayzen to diversify and ensure survival. [ more ]
Bankruptcy isn't the only Miami Cano Health news. There's also a license suspension
Cano Health, a healthcare company in Miami, declared Chapter 11 bankruptcy and had one of its locations suspended by the state.
The company is facing financial difficulties and has been unable to pay rent, leading to lease terminations and eviction lawsuits against them. [ more ]
More than 40 Tory MPs threaten rebellion over English council funding
Over 40 Conservative MPs, including former cabinet ministers, have written to Rishi Sunak demanding more funding for councils in England to prevent deep cuts to services.
The MPs warned that urgent action was needed to secure their support in a crucial vote next month and prevent more councils from going bankrupt due to a 4 billion funding shortfall.
Councils across England are facing financial struggles due to increasing costs, reduced funding, and local missteps, with Birmingham, Nottingham, Woking, and Thurrock among the hardest hit. [ more ]
New York City plans to wipe out $2 billion in medical debt for 500,000 residents
New York City plans to wipe out over $2 billion in medical debt for up to 500,000 residents.
The city is partnering with RIP Medical Debt to buy the debt in bulk and forgive the amounts for people with low incomes or financial hardships. [ more ]
The Sale of Anchor Brewing Company for Parts is Underway
The bankruptcy and closure of Anchor Brewing Company has led to the auctioning off of its parts, including the brewery, equipment, and intellectual property.
Anchor Brewing's assets are being offered in three separate categories: the brewery property, the equipment, and the intellectual property and beer recipes.
There are at least two interested local buyers who want to continue the Anchor Brewing brand, including a group of laid-off employees who are campaigning to buy the brand back and make it a co-op. [ more ]