McDaniel-Hale: Bankruptcy filing tugs at heartstrings given Elgin’s ties to Sears, catalog houses

Sears Holding Corp., parent of the Sears and Kmart retail chains, filed for bankruptcy protection this past week in the hope of saving the iconic store that’s been part of American culture for more than a century. The corporate office in Hoffman Estates is where many Fox Valley residents work. The Sears store at Spring Hill Mall in West Dundee has been spared for closure so far; 142 locations have not been so lucky. It’s a tough situation to swallow…

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How winning $1 billion in Mega Millions could lead to bankruptcy

The U.S. Mega Millions lottery is holding a drawing on Oct. 19 for a jackpot that’s swelled to US$1 billion after the 24 drawings held since the end of July failed to yield a winner. This princely sum is drawing such attention that more people are buying tickets, and even the lottery’s own projections are changing rapidly. On Oct. 17, the payout was an estimated $900 million. Two days later, just before the drawing, it hit $1 billion. That makes…

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Ex-Sunderland striker Dwight Yorke hopes property sale will help him avoid bankruptcy

Published: 14:08 Friday 19 October 2018 Former Sunderland footballer Dwight Yorke hopes a property sale will allow him to clear a £1.5million tax debt and avoid bankruptcy. A lawyer representing Yorke, 46,told an Insolvency and Companies Court hearing in London today that the property earmarked for sale is worth £2million. Barrister Samir Amin told Judge Jonathan Middleton that contracts have been exchanged and Yorke hopes a sale will go through soon. He said the…

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Bankruptcies for Oct. 4 through Oct. 17

• Ashton: James Arthur McGaugh, Chapter 7; Jayme Dawn McGaugh, Chapter 7. • Black Hawk: Nicholas Raymond Tyler, Chapter 7. • Brookings: Erin Mayann Hegg, Chapter 7. • Canton: Dylan Patrick West, Chapter 7; Rebecca Lynn Gilland, Chapter 7. • Castlewood: … Source link

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Dwight Yorke hoping to clear £1.5m tax debt as former Man Utd star bids to avoid bankruptcy

Former Manchester United and Aston Villa striker Dwight Yorke hopes a property sale will allow him to clear a £1.5 million tax debt and avoid bankruptcy, a judge in a specialist court has been told. A lawyer representing Yorke, 46, on Friday told an Insolvency and Companies Court hearing in London that the property earmarked for sale was worth £2 million. Barrister Samir Amin told Judge Jonathan Middleton that contracts had been exchanged and Yorke hoped a sale would go…

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Even bankruptcy can’t keep Vertu from selling $4,000 phones

UK-based brand Vertu made a name for itself handcrafting luxury phones that included premium materials, precious stones, and a global concierge service. It went under a year ago, because (shocker) not enough people were buying its $20,000 devices. But if that sounds like your idea of a daily driver, you’re in luck: Vertu’s back with a handset starting at just $4,200. The company is now hawking the Aster P, a 4.9-inch Android phone with 133-carat sapphire crystal glass, a titanium…

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Sears’ bankruptcy will have ripple effect and not all of it will be bad – The Daily Reporter

NEW YORK (AP) — Sears’ Chapter 11 bankruptcy filing will have ripple effects on everything from landlords to suppliers to workers. Many vendors, which had already enforced stricter payment terms on Sears, are refusing to ship merchandise to stores. The company will further shrink its workforce, which has already been reduced to 68,000 as of the bankruptcy filing from 90,000 earlier this year. But there are some positives. For mall landlords, a Sears departure could be welcome relief and an…

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Trevor Noah rips Trump’s Saudi stance

He told Fox Business that U.S. leaders want to be smart, adding, “I don’t want to give up a $110 billion dollar order or whatever it is.” Comedian Trevor Noah.Credit:AAP “You know, say what you want about Trump, but he wears his moral bankruptcy on his sleeve,” said Noah, fighting a smile as he slipped into his well-practiced impersonation of the president. “He’s straight up like, ‘Look, I know Saudi Arabia killed a dude, but we all about the Benjamins,…

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Shoppers disappointed after learning of Fallas, Factory 2-U…

SAN ANTONIO – Closing procedures will begin immediately at eight Fallas stores and one Factory 2-U store after their parent company, National Stores Incorporated, and some of its affiliates, filed for bankruptcy earlier this year. Significant markdowns of items began at the stores Friday as part of their closing protocol. According to a news release, as much as 30 percent is being deducted from the lowest-ticketed prices on items. Inside one store on Thursday were racks marked at 10 percent off. The…

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Vertu emerges from bankruptcy with the $4,000 Aster P phone

The Vertu Aster P was unveiled in China on Oct. 17. Vertu Super luxury phonemaker Vertu filed for bankruptcy and liquidated its stock of hyper expensive phones back in 2017. But apparently the company is back to doing what it does best. Vertu unveiled its latest Android-based smartphone, the Aster P, on Oct. 17 in China, GizmoChina reports. Like other Vertu phones, the Aster P is built by hand in England using luxe materials like sapphire crystal glass, titanium and exotic leathers. You…

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Brazil court denies Monsanto bid to halt seed licensing to bankrupt firm

By Ana Mano SAO PAULO (Reuters) – A Brazilian appeals court denied a request this month by Monsanto’s local unit to suspend licensing of its popular Intacta soy seed technology to privately-owned seed maker Sementes Talismã, according to a ruling seen by Reuters. Monsanto sought to suspend the licensing of the genetically modified seed technology after Talismã filed for bankruptcy protection in January, one of the seed maker’s lawyers, Daniel Amaral of DASA Advogados in São Paulo, said. “Monsanto sought…

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Unilever to continue producing teabags after Sariwangi declared bankrupt – Business

Consumer goods manufacturer PT Unilever Indonesia has said that it will continue to manufacture Sariwangi teabags after the court declared the company’s manufacturers of the teabags bankrupt on Wednesday. The Jakarta Commercial Court declared PT Sariwangi Agricultural Estate Agency and Maskapai Perkebunan Indorub Sumber Wadung bankrupt in response to a lawsuit submitted by PT Bank ICBC Indonesia, one of its creditors. Unilever, which acquired the Sariwangi teabag brand in 1989, said through its Twitter account on Thursday that the company…

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Canadian preacher files bankruptcy notice against Zamihan

Lawyers representing Canadian Muslim preacher Abu Ameenah Bilal Philips have filed for a bankruptcy proceeding against local preacher Zamihan Mat Zin. This comes after Zamihan failed to pay an unstipulated amount of damages to the Canadian at the agreed time, which was said to be almost two months ago… (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “https://connect.facebook.net/ms_MY/sdk.js#xfbml=1&version=v2.12&appId=217374841612391&autoLogAppEvents=1”; fjs.parentNode.insertBefore(js, fjs); }(document, ‘script’, ‘facebook-jssdk’)); Source link

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Verkhovna Rada passes bankruptcy procedure code

Ukraine’s Verkhovna Rada on Thursday, October 18, passed the Code of Bankruptcy Procedures of Ukraine (bill No. 8060) with 237 supportive votes, an Interfax-Ukraine correspondent has reported. “Thanks to the adoption of the code we would climb 10 positions in Doing Business,” Head of the parliamentary committee for economic policy Andriy Ivanchuk said, presenting the bill. Representing the code, the deputy said that the document is structured into four books. According to him, the first book regulates the general provisions…

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Bad Axe Sears appears to evade sweeping bankruptcy | October 18, 2018 | huroncountyview.mihomepaper.com

BAD AXE – It’s business as usual at the Sears appliance store in Bad Axe, despite Sears Holdings filing for bankruptcy this week. “Even though we have the ‘Sears’ name,” said Jay Cameron, owner of Sears Appliance and Hardware Store in Bad Axe, “we are a separate company listed separately on the stock market.” Cameron said his business falls under a separate company than Sears Holdings Corporation, which filed for chapter 11 bankruptcy and announced it would close 142 unprofitable…

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