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Thursday, September 19, 2019  Spokane, Washington  Est. May 19, 1883
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Stories tagged: bankruptcy


Purdue Pharma to stay in business as bankruptcy unfolds

A judge has cleared the way for OxyContin maker Purdue Pharma to stay in business while it pursues bankruptcy protection and settlement of more than 2,600 lawsuits filed over the …


UPDATED: Fri., Sept. 13, 2019, 5:24 p.m.

N.Y. finds $1B in hidden transfers by family behind OxyContin

The family that owns OxyContin maker Purdue Pharma used Swiss and other hidden accounts to transfer $1 billion to themselves, New York’s attorney general contends in court papers filed Friday.


Ties to marijuana businesses are disqualifying bankruptcy filers, including City Councilwoman Karen Stratton

The U.S. Trustee Program, responsible for policing the federal courts’ bankruptcy proceedings, is weeding out cases involving people or firms with ties to state-sanctioned marijuana businesses. Earlier this summer, that …


Bankruptcy judge to approve sale of Reading Eagle

A federal bankruptcy judge said Wednesday he intends to approve the sale of the Reading Eagle to a large newspaper chain known for taking over struggling papers and then making …


Jamie Oliver’s UK restaurant chain collapses into insolvency

Celebrity chef Jamie Oliver’s British restaurant chain filed for bankruptcy protection on Tuesday, partly due to increased competition and escalating rents in local commercial districts.


Bankrupt California utility wants to give $235M in bonuses

Pacific Gas & Electric Corp. is seeking a judge’s approval to pay $235 million in bonuses to thousands of employees despite the California utility’s bankruptcy


UPDATED: Wed., Feb. 20, 2019, 12:23 p.m.

Spokane City Councilwoman Karen Stratton, husband file for bankruptcy protection

The couple said in an interview the filing, submitted to the court Thursday, is the result of legal malpractice claims against Chris Wright’s one-man law firm. Stratton said she wants …


UPDATED: Tue., Jan. 29, 2019, 8:59 p.m.

PG&E bankruptcy could be costly to wildfire victims

Faced with potentially ruinous lawsuits over California’s recent wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could lead to higher bills for customers …


UPDATED: Thu., Jan. 17, 2019, 4:56 p.m.

Gymboree files for bankruptcy again after revamp falls flat

Children’s clothing retailer Gymboree files for bankruptcy protection again, begins winding down operations.


Robert J. Samuelson: What Sears and GE’s decline teaches us about capitalism

General Electric and Sears have fallen on hard times, and that tells us a lot about U.S capitalism.


UPDATED: Tue., Jan. 8, 2019, 7:43 p.m.

Sears gets another reprieve from liquidation

Sears gets another reprieve from liquidation after its chairman and largest shareholder revises his bid to save the retailer.


UPDATED: Fri., Dec. 28, 2018, 9:46 p.m.

Spokane’s first Kmart to close in March as part of Sears bankruptcy

The location at 4110 E. Sprague Ave. was among 80 locations listed Friday for closure by the former retail giant, which is now navigating bankruptcy in partnership with the Sears …


USA Gymnastics files for Chapter 11 bankruptcy

USA Gymnastics is turning to bankruptcy in an effort to ensure its survival. The embattled organization has filed a bankruptcy petition in Indianapolis as it tries to reach settlements in …


UPDATED: Thu., Nov. 29, 2018, 6:48 p.m.

Initiative promoter Tim Eyman files for bankruptcy

An initiative promoter who is fighting political corruption charges brought against him by the state has filed for personal bankruptcy.


Joe Nocera: Nothing lasts forever, not even the mighty Sears

Sears’ bankruptcy is simply a reminder of how American capitalism works. The next time you hear somebody say that the dominance of Walmart or Amazon or Facebook can never end, …


Sears files for bankruptcy just as things are looking up for U.S. retail

A year ago, a Sears bankruptcy would have fit better into the U.S. retail narrative, given the steady decline of shopping malls and foundering chains. Today, however, with shoppers feeling …


Sears files for Chapter 11 bankruptcy amid plunging sales, massive debt

Sears once dominated the American retail landscape. But the big question is whether the shrunken version of itself can be viable or will it be forced to go out of …


UPDATED: Fri., Oct. 12, 2018, 6:07 p.m.

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 …


UPDATED: Tue., Oct. 9, 2018, 4:41 p.m.

One of oldest coal companies in U.S., Colstrip supplier files for bankruptcy

One of the oldest coal companies in the U.S. – and supplier to the Colstrip power-generating station in Montana – filed for bankruptcy protection Tuesday to deal with more than …


Mattress Firm files for bankruptcy, closing up to 700 stores

Mattress Firm, Inc., the nation’s largest mattress retailer, is filing for bankruptcy protection and plans to close up to 700 stores around the country.


Parent company of Boise psychiatric hospital goes bankrupt

A company that owns one of Idaho’s only independent psychiatric hospitals has declared bankruptcy, putting the future of the facility in question.


Sears’ CEO has come up with a last-minute plan to save it from bankruptcy

Sears could face bankruptcy if it doesn’t meet its next debt payment, due in the coming weeks. Now, the retailer’s chief executive has come up with a last-minute plan to …


Remington emerges from bankruptcy

The reorganization plan, confirmed by a Delaware bankruptcy court earlier this month, converted over $775 million in debt into equity.


Iconic guitar maker Gibson seeks bankruptcy protection

The maker of the Gibson guitar, omnipresent for decades on the American music stage, is filing for bankruptcy protection after wrestling for years with debt.


UPDATED: Mon., March 26, 2018, 4:06 p.m.

Frontier gun maker Remington seeks bankruptcy protection

Remington, a company that began making flintlock rifles when there were only 19 United States, has filed for bankruptcy protection.


UPDATED: Tue., March 20, 2018, 6:36 p.m.

Judge grants initial motions in Weinstein Co. bankruptcy

A Delaware bankruptcy judge on Tuesday issued initial orders allowing the Weinstein Co. to continue paying its bills and working toward a sale of substantially all of its assets.


UPDATED: Thu., March 15, 2018, 4:32 p.m.

Radio giant iHeartMedia files bankruptcy plan to reduce debt

IHeartMedia, one of the world’s largest radio companies, is seeking bankruptcy protection as part of an agreement with its lenders to reduce debt it took on to become a privately …


UPDATED: Fri., Feb. 16, 2018, 3:55 p.m.

Judge approves Takata bankruptcy plan

A Delaware judge has approved the bankruptcy reorganization plan submitted by Japanese auto-parts supplier Takata.


Beleaguered gun maker Remington points to bankruptcy court

Remington, the gun maker beset by falling sales and lawsuits tied to the Sandy Hook Elementary School massacre, has reached a financing deal that would allow it to continue operating …


At Toys R Us, hopes for a turnaround rest on a last-minute rush for holiday gifts

With just days left until Christmas, Marita Percival decided it was time to get serious. So she called in sick to her job as a special-education teacher and headed to …