#bankruptcy

#bankruptcy

There are more than 52,000 Mexican and Tex-Mex restaurants in the entire U.S., per IBIS World. Further data from the Pew Research Center, conducted in 2024, found that 11% of American restaurants serve Mexican-style dishes, and a whopping 85% of counties in the U.S. are home to at least one Mexican restaurant. All of this is to say: Mexican food is a big deal in America.

If you've seen the hit FX series "The Bear," you'll know that running a restaurant is tough. It seems like every episode there's a new obstacle for Carmy Berzatto and his team to hurdle, whether it's preparing for cutthroat reviewers, affording enough stock, offering timely attentive service, or simply getting customers through the door. It's a TV series, sure, but many have praised its accurate representation of the industry.

About 1,800 of Spirit's roughly 5,200 flight attendants will be affected, with involuntary furloughs set to take effect on December 1. "As part of our ongoing restructuring, we are taking steps to align staffing with our fleet size and expected flight volume," the airline said in a statement to Business Insider. "We recognize the impact of this decision on affected Team Members, and we are committed to treating them with care and respect during this process," it added.

Publishers Clearing House, known for its surprise home visits and oversized prize checks, has filed for bankruptcy, ending decades of "forever" payouts to past winners. The sweepstakes company, which operated for nearly 60 years, sold its assets to mobile gaming firm ARB Interactive for $7.1 million. Under the agreement, however, the buyer will not honor lifetime payments owed to winners before July 15.

The brand has gone through a handful of changes over the years, including being bought out for 10.2 million and filing for bankruptcy. When Max & Erma's first started, the focus was on fun. Telephones were set onto tables for customers to make phone calls across the restaurant while waiting for burgers to arrive. Patties made with 10 ounces of fresh beef quickly won over hearts and stomachs, and the chain ballooned.

At this point, it's probably safe to say that Valentino Luchin is better at cooking risotto, calamari, and grilled lamb sirloin than he is at robbing banks. In 2018, the celebrated chef and former owner of an Italian restaurant in Walnut Creek pleaded guilty to robbing an Orinda bank and received a yearlong jail sentence, followed by probation. Now he's back in jail, this time in San Francisco, where prosecutors accuse him of robbing three banks within a single day, court records show.

WALNUT CREEK, Calif. (KGO) -- The bowling alley and restaurant Pinstripes in Walnut Creek has unexpectedly closed. It first opened on Main Street less than one year ago. The sign outside the location today says it is permanently closed. The business took to social media saying the company is voluntarily filing for Chapter 11 bankruptcy protection and closing some locations. Copyright © 2025 KGO-TV. All Rights Reserved. Top Stories

Barnes & Noble Booksellers, a retailer that itself has closed some stores, has emerged as the sole candidate to buy Books Inc., according to documents on file with the U.S. Bankruptcy Court. Barnes & Noble agreed to pay $3.25 million, according to a letter of intent dated July 7. The potential purchase appears to be an all-or-nothing gambit to survive, a court filing by Books Inc. Chief Executive Officer Andrew Perham indicates. Books Inc. filed for bankruptcy in January.

Daniel Schatt, 55, of San Mateo, and Joseph Podulka, 53, of Palo Alto, each pleaded guilty on May 13 to one count of wire fraud conspiracy in connection with their roles in defrauding customers of Cred, a San Francisco-based firm that provided financial services to holders of cryptocurrency and other assets. Schatt, who co-founded Cred, served as the CEO and Podulka served as the company's CFO.

Fisker cut production targets multiple times, failed to meet sales goals and laid off staff. What's more, its Ocean SUV was beset with software and mechanical issues, rendering it inoperable for some. Add troublesome brakes, sudden power loss and doors that wouldn't open to the list of issues that led to multiple safety investigations and ultimately a pause in production in order to raise new capital.

The couple filed for bankruptcy, revealing $2.3 million in liabilities, including $511,000 owed to over 40 creditors, despite Ronn Owens' lengthy career.

Flagstar Bank has accused billionaire landlord Joel Wiener of mismanaging his properties and disputing the value appraisals, raising alarms over his financial dealings.

More than 2,000 jobs are at risk after Claire's UK entered administration, a week after its American parent company filed for Chapter 11 bankruptcy protection.

The revamp efforts saw Friendly's into its next era - that is, until 2020. When the COVID-19 pandemic struck, restaurants were especially affected, including Friendly's.

The Distilled Spirits Council reports domestic whiskey sales grew from $1.3 billion in 2003 to $5.27 billion in 2023, a roughly 300% increase.

While filing for bankruptcy can present financial challenges, it is crucial to understand that it does not permanently close the door on homeownership. Many individuals successfully purchase a home after navigating the bankruptcy process.