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.

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...

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 ..

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...

Latest News

Mt. Gox issues new statement on website
Mt. Gox has posted a new statement which shed more light on the company's financial situation and validated the contents of a document leaked earlier, TechCrunch reported.
Pizza chain Sbarro said to be readying second bankruptcy filing
Sources told Bloomberg that pizza restaurant chain Sbarro is preparing for a bankruptcy filing which could take place any time in the next few weeks.
Mt. Gox to seek bankruptcy protection
After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.
India's first startup accelerator The Morpheus to shut down
The Morpheus, the first private startup accelerator in India, is shutting down its operations this week after six years of conducting accelerator programs for startups in the country, because of the f
Private equity-backed LightSquared agree on restructuring plan with creditors to get out of bankruptcy
LightSquared Inc seemed to have marked a small milestone towards getting out of bankruptcy when on Friday, it told a state court that it has been working with its creditors regarding a plan to restruc
Bankruptcy sale of convicted jeweler Ralph O. Esmerian's art fetches $13M at Sotheby's
The sale of the art collection of convicted jeweler Ralph O. Esmerian was able to gather $13 million, $10.5 million of which will go to creditors, Bloomberg reported.
Creditors of XL-ID Solutions Inc. approve proposal
XL-ID Solutions Inc. announced that at the meeting of its creditors which took place on January 24, 2014, the statutory majority of creditors approved the proposal submitted by the Corporation pursuan
US-based car buying service CarWoo! closes down
Burlingame, California-based car buying service CarWoo! posted an announcement on its website saying the company will be shutting down, with some of its employees heading to rival TrueCar.
Gambling revenue at heart of Detroit's bankruptcy plan
For Detroit, the road in and out of U.S. bankruptcy court is paved with casino money.
Belgian firm Solvay offers to buy bankrupt Plextronics in $32.6M deal
Brussels, Belgium-based chemical firm Solvay SA offered to buy Pennsylvania, US-based conductive polymer maker Plextronics Inc in a $32.6-million deal amid a Chapter 11 filing by the latter.
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