Clothier Mark Shale, based in Chicago, Ill. is one of the city's oldest specialty retail stores. The retailer filed for Chapter 11 bankruptcy protection this week as it continues to seek a buyer or additional financing to continue staying afloat. The retailer, which is over 80 years old, claims sales have dropped significantly in recent [...]
Joey Lester, 48, and Bob Joles, 47, live in the state of Kentucky. They have been together for 16 years and recently got married in the state of New York. While the state of Kentucky doesn't recognize their union, they were however, able to file a joint bankruptcy petition that allowed them to reorganize their [...]
According to FBI officials, Former Ohio State Highway Patrol trooper Benjamin W. Richardson has been sentenced to 50 months in prison for multiple charges including mortgage and bankruptcy fraud. He was also charged for tampering with a witness that was part of a federal investigation. In regards to the mortgage fraud charges, Richardson was ordered [...]
Day Jams Camp announced on its website that it plans to file for Chapter 7 bankruptcy protection. In what may be seen as an abrupt move by the management company behind the camp, this may be seen as a surprise to many parents who had their children enrolled to participate this summer. The camp has [...]
California has had other cities recently file for bankruptcy protection including Stockton and Mammoth Lakes. Unfortunately, San Bernardino is the third city to seek Chapter 9 bankruptcy protection. Like the other cities that filed their petitions, San Bernardino is facing a hefty deficit close to $50 million and hopes the filing will help the city [...]
In what is being called the largest bankruptcy to be filed by a municipality in American history, Stockton, California seeks bankruptcy protection after years of deep debt woes and inability to pay city workers. The City of Stockton has been facing several challenges that led to the filing including mismanagement of funds, crash of the [...]
Mammoth Lakes, California, a popular skiing town files bankruptcy protection ahead of a multi-million dollar judgment brought against them by a developer. Town officials were trying to negotiate payment plan details ahead of a court-mandated deadline but were unsuccessful. With the bankruptcy filing, the town may seek approval for a 10-year payment plan that would [...]
Houghton Mifflin Harcourt Publishing Company, publisher of well-known works by authors J.R.R Tolkien and Mark Twain, as well as Curious George and Lord of the Rings, filed for Chapter 11 bankruptcy protection recently in New York as they work to reduce outstanding debt valued at more than $3 billion. According to the San Francisco Chronicle, the Boston, Massachusetts based [...]
Early this week, Reuters reported that "Octomom" Nadya Suleman filed for Chapter 7 bankruptcy protection in California. Nadya is known as "Octomom" after giving birth to octuplets in 2009. Court documents claim that Suleman has close to $1 million in debt. In recent months, it was reported that Suleman receives close to $5,000 a month in public assistance. According [...]
Clothing company Betsey Johnson has filed for Chapter 11 bankruptcy protection. The fashion designer's company claims to owe a substantial amount to creditors totaling over a million dollars, along with liquidation problems. The filing may result in 350 employees losing their jobs, meaning they will close more than 60 stores. According to Forbes, the retailer [...]