ROCHESTER, N.Y. (AP) -- The ripple effect from Eastman Kodak Co.'s bankruptcy reorganization extends in many directions: Employees brace again for layoffs, retirees fret over health care coverage, and the photography icon's biggest creditors and stakeholders - from movie studios and big-box retailers to CEO Antonio Perez - are preparing... more »
NEW YORK (AP) -- Hostess Brands Inc., the maker of Twinkies and Wonder Bread, is seeking bankruptcy protection, blaming its pension and medical benefits obligations, increased competition and tough economic conditions.
The Chapter 11 filing on Wednesday comes just two years after a predecessor company emerged from bankruptcy proceedings.... more »
FORT WORTH, Texas (AP) - The parent companies of American Airlines and its regional affiliate American Eagle are filing for Ch. 11 bankruptcy protection.
AMR Corp. and AMR Eagle Holding Corp. said Tuesday that they filed voluntary petitions to reorganize, saying it's in the best interest of the companies... more »
Borders Group is edging closer to extinction after no new bids surfaced in an auction process for the bookstore chain other than the opening bid from two liquidation firms.
Borders Group last week assigned the opening bid in its auction process set for Tuesday to two liquidation firms, Hilco... more »
Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection on Sunday in an effort to restructure its hefty debt load. In documents filed in U.S. Bankruptcy Court for the Southern District of New York, Las Vegas-based Citadel listed total assets at Oct. 30 of... more »
Majestic Star Casino LLC is seeking bankruptcy protection after defaulting on debt obligations involving casinos and hotels in Indiana, Colorado and Mississippi. The Las Vegas-based company made its Chapter 11 bankruptcy filing Monday in Delaware. Company chairman Don Barden blamed its financial troubles on the recession and increased competition. He... more »
The Chicago Cubs baseball team is seeking Chapter 11 protection, a step that will allow its corporate parent to hand the team to new owners. The team filed for bankruptcy in Delaware on Monday. The move was anticipated as the Tribune Co. looks to complete an $845 million sale of... more »
A bankruptcy judge has confirmed the plan of reorganization for Frontier Airlines, moving the Denver-based carrier a step closer to emerging from Chapter 11 protection. Frontier says it resolved the few objections to its reorganization plan before winning approval from the judge in New York on Thursday. The plan calls... more »
Freedom Communications, the parent company of the Colorado Springs Gazette, is reportedly close to filing for Chapter 11 bankruptcy protection.
A report by the Wall Street Journal Sunday stated that the company has reached an agreement with its lenders to restructure its debts.
However, a report published in... more »