Bankruptcy

Bankruptcy Looms Over Peabody Energy, Files Chapter 11 Sooner or Later

Peabody is facing difficulties as it shares declined sharply the past year. It is considering to file Chapter 11 sooner or later to protect it from creditors while restructuring the company and recovers from the large loss.

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American Apparel filed for bankruptcy protection; restructures $300M debt

Los Angeles-based American Apparel filed for bankruptcy protection. The clothing company agreed to restructure its finances after negative controversies and slump of sales.

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KKR's Samson Resources to File for Bankruptcy

KKR is about to lose its cash investment in Samson Resources worth $4.1 billion from its $7.2 billion buyout four years ago. The unexpected and prolonged downward move of oil and gas pushed Samson to file for Chapter 11.

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Giant coal company Alpha Naturals seeks bankruptcy court protection

The U.S. coal industry is hit by another major blow as Alpha Natural Resources Inc. will file for Chapter 11 bankruptcy court protection on Monday.

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Japan's Skymark submits bankruptcy plan despite creditor opposition

Japan's failed budget carrier Skymark Airlines Inc (SKALF.PK) submitted a restructuring plan for court approval on Friday despite opposition from the two main creditors owed about two-thirds of its roughly 300 billion yen ($2.4 billion) debt.

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RadioShack rescue deal dogged by fights, demands for new auction

RadioShack Corp's rescue deal to keep 1,740 stores open was attacked on Thursday by the bankrupt retailer's top creditor, a failed bidder who called the auction a sham and sought a new sale.

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Atlantic City turnaround team bets on cuts not bankruptcy

A turnaround team tasked with reviving Atlantic City says New Jersey's struggling gambling hub must consider cost cuts, layoffs and longer bond maturities, but bankruptcy is not in the cards - yet.

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San Bernardino has defaulted on $10 million in bond payments

The southern California city of San Bernardino has defaulted on nearly $10 million in payments on its privately placed pension bond debt since it declared bankruptcy in 2012, according to documents seen by Reuters.

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Puerto Rico bankruptcy bill to get House hearing: sources

A long-shot bill to give Puerto Rico's ailing public agencies a chance to restructure their massive debts under the section of U.S. bankruptcy law used by cities such as Detroit and Stockton, California, will get a hearing before a key congressional committee, according to two sources familiar with the matter.

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Puerto Rico set for tougher debt struggle after court ruling

Hopes of an orderly resolution to Puerto Rico's debt crisis suffered a heavy blow after a court voided the island's restructuring law, raising fears it may be heading for a longer, messier debt overhaul.

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RadioShack files for bankruptcy; Sprint to take over some stores

Electronics retailer RadioShack Corp filed for U.S. bankruptcy protection on Thursday and said it had a deal in place to sell as many as 2,400 stores to an affiliate of hedge fund Standard General, its lender and largest shareholder.

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RadioShack may close, Sprint to get half of chain: BBG

Troubled electronics retailer RadioShack Corp is preparing to shut down the chain in a bankruptcy deal that would see half the stores taken over by Sprint Corp, Bloomberg News reported, citing people with knowledge of the discussions.

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Caesars' gets its Chicago bankruptcy in win for Apollo

The bankruptcy of the operating unit of Caesars Entertainment Corp's will proceed in Chicago, a victory for the casino company's private equity backers over its hedge fund creditors who wanted the case in Delaware.

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SkyMall, known for in-flight catalogs, lands in bankruptcy

SkyMall, whose in-flight shopping catalogs have long been a staple of airline travel, has filed for bankruptcy protection, blaming changing consumer habits and the loss of contracts from two major carriers, Delta and Southwest.

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Atlantic City bankruptcy talk 'premature': turnaround team

It's "premature" to talk about bankruptcy for troubled gaming resort Atlantic City, Detroit's former turnaround expert said Thursday as he signed on with the latest bid to revive a city some see as bound to follow the path taken by the Motor City.

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