J.C. Penney is on course to emerge from bankruptcy by Thanksgiving, after a U.S. bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders.
Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to buy department store chain J.C. Penney out of bankruptcy and keep the chain running.
Lord & Taylor, one of the country’s oldest department store chains, is going out of business after filing for bankruptcy earlier this month.
Despite a recent surge in pizza sales, Pizza Hut will close 300 locations nationwide, mostly stores that are not well-equipped to handle delivery and takeout.
The storied Manhattan clothier Brooks Brothers is filing for bankruptcy protection.
Bankrupt mall anchor J.C. Penney plans to ask its landlords for free rent.
Pier 1 Imports plans to close the eight stores it operates in Connecticut as it prepares to wind down operations nation-wide.
The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate.
The billions of dollars in coronavirus relief targeted at small businesses may not prevent many of them from ending up in bankruptcy court.
A New York firm has been hired to market nearly 2,600 leases from the closure of all remaining Payless ShoeSource stores in the U.S. and Canada.
A bankruptcy judge on Thursday blessed a $5.2 billion plan by Sears chairman and biggest shareholder to keep the iconic business going.
A Wallingford man was arrested on a criminal complaint, charging him with bankruptcy fraud, identity theft and conspiracy to commit bankruptcy fraud and identity theft.
The city of Hartford has reached an agreement to have the state pay off the city’s approximately $550 million in general obligation debt.
One day after Gov. Dannel Malloy signed a two-year, $41.3 billion budget bill, Hartford’s credit outlook appeared to improve substantially.
A bankruptcy attorney has been sentenced to prison for embezzling millions of dollars from his bankruptcy clients, and related fraud offenses.
The city of Hartford recently discussed the state of the city with bondholders during a scheduled call yesterday, which was intended to initiate a constructive dialogue for restructuring alternatives.
The president of the Hartford City Council says a majority of members oppose the city filing for bankruptcy, but acknowledged it could be necessary if it doesn’t get the state aid it needs by early November because of state budget gridlock.
The city of Hartford announced yesterday that it has engaged the law firm Greenberg Traurig LLP to provide legal services as the city evaluates the full range of restructuring options to ensure its long-term fiscal stability.
A former attorney recently pleaded guilty in Hartford to embezzling millions of dollars from his bankruptcy clients, and as well as to related fraud offenses.
