Results for: Bankruptcy

Despite facing bankruptcy twice, Katie Price has added a luxurious cinema room to her infamous ‘Mucky Mansion.’ The room features massive screens, a cozy fire heater, and was dubbed the ‘cinema room of dreams’ by Price’s boyfriend, JJ Slater. Despite her financial struggles, Price has adorned her home with expensive cars and lavish amenities, raising concerns about her spending habits. The bankruptcy verdict may put her Sussex property at risk and could lead to the repossession of assets, including the new cinema wall.

Express, Inc., a clothing retailer founded in 1980, has filed for Chapter 11 bankruptcy protection and will be closing 95 of its Express retail stores and all 10 of its UpWest stores. The closures include two stores in the Tampa Bay area, located at Citrus Park Town Center and Countryside Mall in Clearwater. Express had once been a trendsetter in casual office attire but has struggled to compete with fast-fashion retailers like Zara and H&M.

Express, Inc., a popular clothing retailer, announced the permanent closure of over a dozen California locations as part of its ongoing Chapter 11 bankruptcy proceedings. The closures are part of a larger plan to shutter 95 stores across the United States. The company’s acquisition by WHP Global is expected to proceed as planned, and Express has reassured customers that its online and brick-and-mortar operations will continue as usual during this transition.

Adam Neumann, founder of WeWork, has filed a request with a U.S. bankruptcy judge to compel WeWork’s management to engage in negotiations with his new real estate company, Flow Global, regarding the reacquisition of WeWork out of bankruptcy. Neumann alleges that WeWork has refused to engage with Flow Global despite an offer of over $500 million. He argues that WeWork’s refusal violates its obligation under bankruptcy law to maximize value for creditors and that it is rushing to finalize a deal with existing lenders before a better offer can be considered.

WeWork founder Adam Neumann has filed a motion with a U.S. bankruptcy court, requesting the judge to assist his efforts to reclaim the co-working business. Neumann alleges that WeWork’s management has declined to engage in negotiations and is attempting to use the bankruptcy case to facilitate a predetermined transaction with preferred purchasers. Neumann’s new real estate venture, Flow Global, has offered over $500 million to acquire WeWork out of bankruptcy. However, WeWork has not responded to their inquiries. Neumann argues that WeWork’s refusal to engage with Flow contradicts their obligation under bankruptcy law to maximize shareholder value. The court is now determining whether to compel WeWork management to provide Flow Global with access to due diligence information. WeWork has stated that it remains receptive to discussions with potential buyers but has not commented on Neumann’s bid.

Express Inc., a well-known clothing retailer, has filed for Chapter 11 bankruptcy protection and will be closing 95 stores. Additionally, all 10 UpWest stores will also be closed. The store closures will begin on Tuesday.

Pharmaceutical chain Rite Aid has filed for bankruptcy and announced the closure of 436 stores since October. The closures include 6 stores in Pennsylvania, as well as a store in Dauphin County, where customers are being directed to a nearby CVS pharmacy.

Express, a popular retail store chain, has filed for Chapter 11 bankruptcy protection and will be closing 95 stores across the United States, including two locations in the Bay Area: Santa Clara and Emeryville. The closures are expected to begin on Tuesday and will impact a total of 16 stores in California.

Tijuana Flats, a Tex-Mex restaurant chain, has filed for bankruptcy and closed 11 locations. The company, which has over 125 locations across the South, cited financial performance, occupancy costs, and market conditions as factors in the decision. Despite the closures, Tijuana Flats emphasized that 91 of its restaurants remain open.

Tijuana Flats was acquired by Flatheads, LLC, which plans to reinvest in the brand and focus on the factors that originally attracted customers.

Bankruptcy is a legal process that allows companies to eliminate debt and start fresh. Chapter 11 bankruptcy, which Tijuana Flats filed for, is used to restructure a business with the goal of remaining open.

American fashion retailer Express Inc. filed for bankruptcy on Monday and announced plans to close over 100 store locations nationwide. The company, headquartered in Columbus, Ohio, cited financial challenges and the impact of the COVID-19 pandemic on its decision. Express will close about 95 of its 530 Express stores and all 10 of its UpWest Express stores in the U.S., with store closing sales beginning Tuesday. The company emphasized its commitment to its customers and the strength of its omnichannel platform.