#bankruptcy

#bankruptcy

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.

John Barnes is facing a new bankruptcy petition from HM Revenue & Customs over debts from his liquidated media company, totaling over £1.5 million.

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.

SchwuZ has served as more than a nightlife venue for nearly 50 years, creating a community space for queer art, family, and resistance, helping shape Berlin's LGBTQ+ identity.

Rax Roast Beef was initially successful, reaching its peak with 504 locations across the U.S. and Guatemala, but later faced decline due to poor marketing decisions.

Real American Beer found itself in competition with a proposal led by Hooters Inc., which oversees some franchised Hooters locations. The company's cofounder was a part of that group.

Rubio's Coastal Grill has faced significant decline since 2017, filing for Chapter 11 bankruptcy twice, with a challenging economic environment impacting its operations in California.

Mellencamp references Tastee Freez in 'Jack and Diane,' sparking curiosity about how teens were enjoying a chili dog outside the franchise, which symbolizes youthful pleasure during tough times.

Christine Hunsicker, founder of the fashion startup CaaStle, was indicted on multiple charges, including wire fraud and securities fraud, and allegedly defrauded investors over $300 million.

Jones, the (now former) federal bankruptcy judge, somehow didn't recuse himself from cases involving Freeman, the (now former) partner at Jackson Walker. As a result, Jones resigned and the Department of Justice sued Freeman's former firm to try to disgorge up to $23 million in fees it collected in the 33 cases overseen by Jones while he was involved with Freeman.

The brand was acquired by Rite Aid in 1996 and was primarily available through its stores since. The survival of subsidiaries like Thrifty had been in doubt.

Complaints have emerged regarding purchases made at Empress Fine Jewels, with allegations that customers received fake gemstones and encountered issues retrieving deposits after the jeweller's bankruptcy.

We have reached the point where we can no longer continue to operate in the normal course. Because of this, TPX will be filing what is called a Notice of Intention to Make a Proposal (NOI) under the Bankruptcy and Insolvency Act. I want you to know this is not a step I wanted to take.

Today, small-business lifeblood is being squeezed by private equity firms that target local businesses to eliminate competitors, control markets, and raise prices.

Empress Fine Jewels, run by Shuwan Li, faced bankruptcy with debts of €1.5m and was involved in legal issues over stolen rings worth nearly €35,000.