iPic Entertainment Files for Chapter 11 Bankruptcy

The luxury theatre chain iPic recently filed for chapter 11 bankruptcy protection and is looking for potential buyers. The company, which is currently led by a former executive of big-box mega theaters, Hamid Hashemi, has claimed that the delays in development and the high cost of capital as the chief reasons for their bankruptcy. Hamid […]
  • Vladimir Sumina
  • August 7, 2019
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Brookstone files for bankruptcy

Bankrupt Brookstone Technology and furniture retailer Brookstone announced on Thursday that it will file for Chapter 11 bankruptcy. The company reported that it will close all of its mall stores but will keep its airport locations. Brookstone is still looking for a buyer and has received a $30 million loan to operate while it waits. […]
  • Ben Norman
  • August 3, 2018
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Sweethearts manufacturer will close

Not so sweet ending The parent company of the manufacturer that makes Necco and Sweethearts announced over the weekend that has closed abruptly. Round Hill Investments, the parent company, reported that it will sell its Necco brands to another manufacturer and close its factory in Revere, Massachusetts, effective immediately. This comes after their $17 million […]
  • Ben Norman
  • July 30, 2018
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Bustle owner acquires Gawker.com

Gawker gossip Bryan Goldberg, the owner of Elite Daily, Bustle, and more, won the auction for Gawker.com on Thursday, with the final purchase price valued at $1.35 million. Gawker faced bankruptcy after venture capitalist Peter Thiel launched a lawsuit against Gawker with wrestler Hulk Hogan. The site posted a video of Hogan in a sexual […]
  • Ben Norman
  • July 13, 2018
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Mining mogul sentenced to 30 years in prison

Batista booked Eike Batista, a Brazilian oil and mining mogul, was sentenced to 30 years in prison on Tuesday after paying over $16 million in bribes. Moreover, Federal Judge Marcelo Bretas found Batista guilty of bribing Rio de Janeiro governor Sérgio Cabral to secure contracts with the state. Consequently, Judge Bretas sentenced Cabral to prison-time […]
  • Ben Norman
  • July 10, 2018
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Payless ShoeSource Joins List of Retailers Filing Chapter 11

It’s no secret that online shopping is taking brick and mortar stores by storm. In fact, in the race to obtain more customers, online retailers in the lead. This past year hasn’t been too good for a few stores, and now Payless ShoeSource has announced that it will be filing Chapter 11. Its name goes […]
  • Sharnita Sanders
  • April 6, 2017
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Severe Changes in Store for American Apparel

Things aren’t going so well for many retail companies in the last few months. Sears Holdings closed dozens of its stores, Macy’s did the same, and The Limited said farewell to all 250 of its stores. Now, American Apparel is shutting down all 110 of its stores. However, even though American Apparel is gone, the […]
  • Sharnita Sanders
  • January 16, 2017
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American Apparel Narrowly Escapes Bankruptcy with Shareholder Deal

American Apparel Inc. is holding on for dear life. It has just made a deal with shareholder Standard General that will financially save the company from spinning into bankruptcy. According to Los Angeles Times, the retailer has agreed to receive $25 million from the investment company in order to handle the monetary concerns and bring […]
  • Megan Harrison
  • July 11, 2014
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