Sears: Will It Shrink, or Close?

As Sears Holdings Corp. SHLD 18.97% plans to file for chapter 11 protection Sunday, the big question is whether a smaller Sears emerges from bankruptcy or whether the filing leads to a liquidation and a final end to the storied department-store chain. Sears in recent days reached an 11th-hour deal with lenders that will allow the troubled retailer to keep hundreds of its stores open through the holidays. The deal followed days of marathon negotiations at the New York offices…

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Harapan aware of M’sia’s finances before making promises, Najib says

Pakatan Harapan must have been aware of the state of the nation’s finances before it made election promises that it could not keep, Najib Abdul Razak said today. The former prime minister said the country’s budget and financial statements are made public annually, and MPs would receive copies of the statements made available on government websites. “Funny. The ones who went all over Malaysia saying that the country is in critical condition and is about to go bankrupt, that’s them. “The ones who…

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Profiting Off a Sears Bankruptcy Not So Simple for Rivals

When a retailer goes bust, even a retailer with a storied past, only certain customers and employees get sentimental. People in the business start asking who will swoop in to claim market share or whether its sales will simply disappear. This holiday season will be marked by the deaths of two iconic retailers—Toys “R” Us and Sears. The latter is expected to file for chapter 11 bankruptcy Sunday ahead of a $134 million debt payment due Monday. Its demise will…

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HOW TUKU NO SHOW NEARLY BANKRUPTED Y2K newsdzeZimbabweNewsdzeZimbabwe

The graduation ceremony, which took place at the University of Zimbabwe (UZ) last Wednesday, triggered my memory to flash back to the disastrous musical event that took place four years ago. in the groove by Fred Zindi I meant to write this story in October 2014 when I was a columnist for another newspaper, but after asking for confirmation of the story from Y2K music promoters and did not receive any response, I decided to abandon it. I wrote to…

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Sources say Sears to close 150 stores in bankruptcy

Sears Holdings Corp is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under US bankruptcy protection, people familiar with the matter said on Friday. The plans, which remained in flux on Friday afternoon, would leave the fate of Sears’ remaining about 250 stores uncertain, the sources said. The future of the stores could hinge on Sears’ negotiations with landlords over their leases.…

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NCLT admits Venugopal Dhoot’s plea to consolidate insolvency cases

New Delhi: The bankruptcy court has decided to entertain a plea by Videocon Group founder Venugopal Dhoot seeking to consolidate separate insolvency proceedings initiated by lenders led by State Bank of India against 15 of his companies under a single court. National Company Law Tribunal’s (NCLT) principal bench in New Delhi on Thursday admitted Dhoot’s plea and sought a reply from SBI by October 24. The country’s top bank and other lenders had filed separate proceedings against Videocon companies in…

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Claire’s celebrates financial turn-around after filing for bankruptcy

Much-loved mall favorite Claire’s will live to pierce another ear.  The 40-year-old company announced on Friday evening that it has successfully emerged from Chapter 11, having filed for bankruptcy back in March, joining a line of stores to run into severe financial difficulty.  At the time, bosses vowed to keep all stores open as the company worked to restructure its debt, a process that has since seen the brand wipe close to $1.9 billion from its balance sheet.    Celebration: Claire’s…

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Sears Aims to Close up to 150 Stores in Bankruptcy-sources

Sears Holdings Corp. is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under U.S. bankruptcy protection, people familiar with the matter said Friday. The plans, which remained in flux on Friday afternoon, would leave the fate of Sears’ remaining roughly 250 stores uncertain, the sources said. The future of the stores could hinge on Sears’ negotiations with landlords over their leases. The…

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Sears’ Nearly Complete Journey to Bankruptcy Was Just Plain Weird — The Motley Fool

Most market watchers have long expected that Sears (NASDAQ:SHLD) would wind up a casualty of the e-commerce revolution. But as MarketFoolery host Chris Hill and senior analysts Jason Moser and Matt Argersinger remind us in this segment, that was not always inevitable. The real cause for the retailer’s decline, they say, lays in the strategies and decisions of CEO Eddie Lampert, who treated it more as a tool for financial legerdemain, and less as a business that he could or should try…

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Sears is hammering out deal to stay open in bankruptcy

Negotiations over the fate of Sears Holdings Corp. have moved away from a possible liquidation toward a plan that would keep some stores open through Christmas, according to a person with knowledge of the matter. The talks with lenders envision a restructuring using the Chapter 11 bankruptcy process, with Sears filing on Sunday at the earliest, said the person, who asked not to be identified discussing confidential matters. Negotiators are discussing a loan of about $300 million to $500 million,…

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Bankruptcy Appears Imminent for Longtime Retail Giant Sears

A Sears logo is visible on a store in Illinois in this file photo. (Credit: Tim Boyle/Getty Images) A Sears logo is visible on a store in Illinois in this file photo. (Credit: Tim Boyle/Getty Images) Sears has three days to come up with $134 million. Sears Holdings (SHLD), the parent company of Sears and Kmart, faces a Monday deadline to pay that much in debt. The most recent filing from Sears showed it had only $193 million in cash…

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Fayette Regional Hospital will remain open during bankruptcy reorganization – Business News

Published: Oct 11th, 2018 – 4:53pm (EDT) Updated: Oct 12th, 2018 – 2:27am (EDT) CONNERSVILLE, Ind. (WTHR) – A rural hospital in eastern Indiana is filing for bankruptcy. Fayette Regional in Connersville says they can no longer operate under “mounting debt and tightening financial resources.” They’re blaming it on things like government funding cuts and unfunded care mandates. But the hospital says this does not mean they’re shutting down. “This is a reorganization process, we’re not closing the doors. Reorganization…

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Settlement reached in Alaska Dispatch News bankruptcy case

Alice Rogoff, the former owner and publisher of Alaska Dispatch News, is set to pay a settlement in the case of the company’s bankruptcy. A settlement agreement filed in court last week between Rogoff, the bankruptcy trustee and Northrim Bank shows Rogoff will pay $1.5 million, plus interest, to the trustee for the benefit of the Alaska Dispatch News estate. “With regard to the best interests of creditors, the settlement provides a substantial recovery to unsecured creditors from an estate…

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