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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Sbarro Successfully Exits Bankruptcy

The popular Sbarro pizza chain is officially out of bankruptcy after filing for protection under Chapter 11 of the bankruptcy law last March, according to NBC News. A judge approved the company’s reorganization plan May 19, to take effect June 2, according to the news source. Sbarro has said that it will move its company […]

Author: Joel R. Glucksman

June 10, 2014

Chapter 11

GSE Environmental files for bankruptcy after posting losses

GSE Environmental Inc. and its affiliates filed for protection under Chapter 11 of the bankruptcy law May 4, according to Reuters. GSE makes spill containment products, including geosynthetic lining, for the waste management, water and mining sectors. In a court filing, the company listed assets of between $100 million and $500 million, and liabilities within the […]

Author: Joel R. Glucksman

May 16, 2014

Chapter 11

Carol's Daughter Files For Bankruptcy

CD Stores LLC, formerly known as Carol’s Daughter Stores LLC, filed for protection under Chapter 11 of the bankruptcy law April 24, according to The Wall Street Journal. The company was joined in filing by the individual companies behind Carol’s Daughter stores. Founded by Lisa Price in 1993, the chain produces skincare, body and hair […]

Author: Joel R. Glucksman

May 8, 2014

Chapter 11

Mt. Gox founder won't appear for U.S. bankruptcy hearing

Mark Karpeles, the founder of former Bitcoin exchange Mt. Gox, has announced that he will not be coming to the U.S. to answer questions about his company’s U.S. bankruptcy filing, according to Reuters. In a court filing, Mt. Gox lawyers cited a subpoena from the U.S. Department of Treasury’s Financial Crimes Enforcement Network, or FinCEN, […]

Author: Joel R. Glucksman

April 25, 2014

Glacial Energy Holdings files for protection, seeking sale

Glacial Energy Holdings, an electricity and natural gas provider in 20 U.S. states, filed for protection under Chapter 11 of the bankruptcy law on April 10, according to Reuters. The company intends to sell its assets to pay its debts. It attempted, unsuccessfully, to sell its assets last month, but the deal fell through. Glacial Energy Holdings […]

Author: Joel R. Glucksman

April 24, 2014

Chapter 11

Momentive Performance preparing for filing protection under chapter 11

Momentive Performance Materials, Inc. said on April 1 that it is meeting with stakeholders to discuss the restructuring of its debt before it files for protection under Chapter 11 of the bankruptcy law, according to Reuters. The silicon and quartz producer held total liabilities of $4.14 billion as of Sept. 30, the company said in […]

Author: Joel R. Glucksman

April 17, 2014

Chapter 11

Coldwater Creek, Inc. may file for bankruptcy

The women’s clothing retailer Coldwater Creek, Inc. may seek protection under bankruptcy law as early as this week, sources told Bloomberg Businessweek. The company hasn’t been profitable since 2007, and may seek to liquidate its assets in order to repay its creditors. Five months ago, the retailer said that it was exploring “strategic alternatives,” including selling itself, […]

Author: Joel R. Glucksman

April 15, 2014

Energy Future Holdings Corp. closer to bankruptcy deal

Energy Future Holdings Corp. is closing in on a deal that will allow it to speed up its planned bankruptcy restructuring, according to Bloomberg. Six years ago, the company was bought out in a historic $48 billion leveraged buyout, which left it with debt it couldn’t afford to pay. The company’s board of directors met […]

Author: Joel R. Glucksman

April 8, 2014

Brookstone to file for bankruptcy

The consumer electronic gadgets retailer Brookstone, Inc. may be preparing to file for bankruptcy protection under Chapter 11 of the bankruptcy law, according to Bloomberg. The retailer is in talks with Spencer Spirit Holdings, which may acquire it as part of the deal. According to a March 27 statement, the two retailers are in talks […]

Author: Joel R. Glucksman

April 1, 2014

Quiznos to file for bankruptcy amidst debt and declining sales

Global sandwich chain Quiznos is preparing to file for protection under Chapter 11 of the bankruptcy act. According to reports published the evening of Feb. 27, the one-time fast food giant has accumulated about $570 million in debt and is experiencing declining sales nationwide. Quiznos has been negotiating with creditors and unhappy franchisees for weeks […]

Author: Joel R. Glucksman

March 25, 2014

Chapter 11

Hostess Brands Inc. bankruptcy posed risk to other pensions

When Hostess Brands Inc. filed for protection under chapter 11 of the bankruptcy law in 2012, it posed risk to other pensions and medical charges for its employees as one of the the driving reasons behind the filing. At the time, the company was involved in a struggle with workers’ unions over a new contract […]

Author: Joel R. Glucksman

March 7, 2014

Atlantic Club Casino Seeks Bankruptcy Protection

The Atlantic Club Casino Hotel recently announced that it has filed for protection under Chapter 11 of the bankruptcy law, and that it plans to seek bids from potential buyers over the coming weeks. The company, which filed bankruptcy proceedings in the U.S. Bankruptcy Court in Camden, N.J., hopes to be sold at a bankruptcy auction […]

Author: Joel R. Glucksman

November 21, 2013

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