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Listen to this article Estimated 5 minutes The audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. The operator of roughly 180 Eddie Bauer stores has filed for Chapter 11 bankruptcy protection in …
Read More »Saks Global files for bankruptcy after Neiman Marcus takeover leads to financial collapse
High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday, in one of the largest retail collapses since the pandemic. It comes barely a year after a deal intended to create a luxury powerhouse brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under the same roof. The filing cast uncertainty over the …
Read More »Iran’s ‘water bankruptcy problem’ is nothing new, says UN expert
LISTEN | Evacuating Iran’s capital amid severe drought isn’t possible, says UN expert : As It Happens6:33Evacuating Iran’s capital amid severe drought isn’t possible, says UN expert As Iran faces severe drought, Kaveh Madani says the situation in his home country is dire. “We are talking about a few days or …
Read More »Online retailer Ssense filing for bankruptcy protection
Montreal-based online fashion retailer Ssense plans to file for bankruptcy protection as its primary lender attempts to force a sale of the company, a Ssense spokesperson told CBC News in an email. According to the company, its primary lender has placed Ssense under Companies’ Creditors Arrangement Act (CCAA) protection in …
Read More »WeightWatchers files for bankruptcy after weight-loss drugs capsized industry
WW International, formerly known as WeightWatchers, has filed for Chapter 11 bankruptcy protection on Tuesday in a bid to cut its debt after hugely popular obesity drugs upended its business model. Shares of the company, which once boasted media mogul Oprah Winfrey as one of its top shareholders, slumped 40 …
Read More »Hooters, known for skimpy server outfits, files for bankruptcy protection
Hooters, the U.S.-based restaurant chain known for chicken wings and skimpy wait-staff outfits for its “Hooters Girls,” has filed for bankruptcy protection. HOA Restaurant Group filed the motion for Chapter 11 protection Monday in the North Texas Bankruptcy Court in Dallas. The company ran into financial woes as its debts mounted, but it …
Read More »DNA testing firm 23andMe files for bankruptcy, CEO resigns
23andMe on Sunday filed for bankruptcy in the U.S. after struggling with the fallout of a data breach and weak demand for its ancestry testing kits that featured in Oprah Winfrey’s annual list of favourite things just eight years ago. The biotech unicorn has seen a sharp fall in its …
Read More »Fast fashion’s Forever 21 files for bankruptcy in U.S.
Fast-fashion retailer Forever 21’s U.S. operating company on Sunday filed for Chapter 11 bankruptcy for the second time in six years, hamstrung by dwindling mall traffic and mounting competition from online retailers. The move likely means liquidation for the company, which was unable to find a buyer for its roughly …
Read More »Northvolt declares bankruptcy in Sweden, raising questions about future of massive Quebec battery plant
Northvolt, the Swedish battery manufacturer with plans to build a $7-billion factory in Quebec, has declared bankruptcy in Sweden. The company said in a media release that the decision to declare bankruptcy was taken after “an exhaustive effort to explore all available means to secure a viable financial and operational …
Read More »Red Lobster exiting bankruptcy as Canadian court approves restructuring plan
By Staff The Canadian Press Posted September 10, 2024 2:46 pm 1 min read Descrease article font size Increase article font size A Canadian court has cleared the reorganization plan of Red Lobster that will see the seafood chain exit bankruptcy. Justice Peter Cavanagh of the Superior Court of Justice in Toronto on …
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