Business Bankruptcy

Scarinci Hollenbeck’s Business Bankruptcy practice group regularly provides content on financially impacted entities, including financial institutions, corporations, insurance companies, leasing and finance companies, and businesses. Our content provides insight on dealing with complex and sophisticated business bankruptcy matters.

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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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What to Do If You Are Impacted by a Retailer Bankruptcy Part 2

Over the past year, brick-and-mortar stores have closed their doors at a record pace. Fluctuating consumer preferences, the rise of online shopping platforms, and ongoing economic uncertainty continue to put pressure on the retail industry. When a retailer seeks bankruptcy protection, a myriad of other businesses are often impacted. Whether you are a supplier, customer, […]

Author: Brian D. Spector

April 2, 2025

How Understanding Bankruptcy Trends Can Benefit Your Business

The bankruptcy legal landscape presents both challenges and opportunities for businesses navigating financial distress. Understanding current bankruptcy trends can help businesses make more informed and strategic decisions. Corporate Bankruptcy Filings Trending Upwards Bankruptcy filings continued to trend upwards in 2024. According to statistics released by the Administrative Office of the U.S. Courts, personal and business […]

Author: Brian D. Spector

March 20, 2025

Can the SBRA Provide a Lifeline to Small Businesses Suffering Due to COVID-19?

The Small Business Reorganization Act (SBRA), which seeks to make small business bankruptcies faster and less expensive, took effect in February. The Small Business Reorganization Act (SBRA), which seeks to make small business bankruptcies faster and less expensive, took effect in February. While the law preceded the coronavirus (COVID-19) pandemic, it is providing welcome relief to businesses […]

Author: Joel R. Glucksman

May 26, 2020

COVID-19

Energy & Retail Lead the Way as Business Bankruptcies Increase

Energy & Retail Lead the Way as Business Bankruptcies Increase According to the American Bankruptcy Institute, the distressed state of the energy & retail sectors in the American economy has led to significant increases in business bankruptcy filings. The total number of both business and consumer bankruptcy filings decreased ten percent in April 2016, when […]

Author: Joel R. Glucksman

May 20, 2016

From Predator to prey: The details of CTPartners Chapter 11 Filing

Last week CTPartners Executive Search Inc. announced it was voluntarily filing for Chapter 11 bankruptcy protection, according to the New York Post. Once the seventh-largest executive search firm in the U.S., CTPartners recently reported that it will suspend operations by June 30. CTPartners heads into Chapter 11 CTPartners recently disclosed that its $61 million asset sale […]

Author: Joel R. Glucksman

July 24, 2015

Salus Capital Partners Pushes For RadioShack To Switch to Chapter 7 Bankruptcy

Last week Radioshack’s prepetition lender Salus Capital Partners pushed for the electronics chain to convert its Chapter 11 bankruptcy case to Chapter 7. The Wall Street Journal reported that the move would threaten the chances for Radioshack to emerge as a standalone business after bankruptcy proceedings. Chapter 11 fees mounting As it calculates the likely results […]

Author: Joel R. Glucksman

July 22, 2015

Bankruptcy Deadline Approaching For Caesars Entertainment Operating Co. Inc

Caesars Entertainment Operating Co. Inc has 6 more months for bankruptcy plan. Caesars Entertainment Operating Co. Inc., the operating unit of Caesars Entertainment Corp., recently received another six months to draw up a proposed plan of reorganization to cut its debt. This will extend its “exclusivity period” – the time when only it can propose […]

Author: Joel R. Glucksman

June 19, 2015

Bankruptcy Protection

Judges Rule On Nortel Networks Bankruptcy Case

Judges in the U.S. and Canada recently ruled on the bankruptcy proceedings of Nortel Networks, providing some clarity in a saga that has lasted since 2009 when the telecommunications giant filed for protection from creditors. In that time, several courts have considered the fate of Nortel Networks assets, causing fees of more than $1 billion […]

Author: Joel R. Glucksman

June 17, 2015

RadioShack submits to mediation involving customer data

RadioShack submits to mediation involving customer data RadioShack recently agreed to mediation with state attorneys general who have expressed privacy concerns about the sale of the Fort Worth, Texas-based electronics retailer’s customer data. The company consented to this process after the attorneys general of several states raised questions about whether RadioShack in fact has the right […]

Author: Joel R. Glucksman

May 21, 2015

Scarinci Hollenbeck

Judge Gives CEOC More Time to Create Restructuring Plan

A federal judge recently granted a request made by Caesars Entertainment Operating Co. to continue its “exclusivity” period – that is, the time when only the debtor may file a proposed restructuring plan. At an April 29 hearing in Chicago, U.S. Bankruptcy Judge Benjamin Goldgar ruled in Caesar’s favor and extended exclusivity until May 27, Reuters reported. Extension […]

Author: Joel R. Glucksman

May 20, 2015

RadioShack's Trustee Fights For Customer Privacy

In the midst RadioShack’s bankruptcy, previous consumers can feel safe that customer privacy is being held in high regard by the federal bankruptcy court. The trustee assigned to RadioShack’s bankruptcy recently implored a federal court to protect customer privacy by ensuring that the electronics retailer cannot sell its customer data amid its plans to wind down and keep certain stores […]

Author: Joel R. Glucksman

May 19, 2015

RadioShack stores will live on after judge approves agreement

A federal judge recently approved an agreement under which RadioShack Corporation will continue to exist, but will slim its operations to 1,743 locations and 7,500 employees. This decision ended a period of uncertainty started when the troubled retailer filed for Chapter 11 bankruptcy earlier this year, according to The Wall Street Journal. Winning offer While many competitors […]

Author: Joel R. Glucksman

April 9, 2015

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