bankruptcy - updates

Rappler's latest stories on bankruptcy


Latin America's largest airline LATAM files for bankruptcy in U.S.

May 26, 2020 - 2:40 PM

'LATAM Airlines Group and its affiliates in Chile, Peru, Ecuador, and Colombia entered into a voluntary reorganization under Chapter 11 protection in the United States,' says CEO Roberto Alvo

LATAM. A Boeing 787-9 Dreamliner of LATAM Airlines. Photo from Wikimedia Commons

Virus-hit Hertz declares bankruptcy in U.S., Canada

May 23, 2020 - 11:50 AM

(UPDATED) Car rental company Hertz cites the 'sudden and dramatic' impact of the coronavirus pandemic on travel demand

HERTZ. An outlet of the car rental company in Columbus, Ohio. Photo from Shutterstock

U.S. retailer J. Crew files for bankruptcy

May 04, 2020 - 10:40 PM

J. Crew still expects to bounce back through 'comprehensive financial restructuring'

BANKRUPTCY. A J. Crew store in Los Angeles, California. Photo from Shutterstock

Titanic shipyard rescued from bankruptcy

Oct 01, 2019 - 5:59 PM

As well as building the doomed Titanic, which sank in 1912, Harland and Wolff built its two sister ships Olympic and Britannic, and also supplied almost 150 warships during World War II

TITANIC SHIPYARD. In this file photo taken on August 5, a picture shows one of the cranes at the Harland and Wolff shipyard high above the city of Belfast. File photo by Paul Faith/AFP

Labor group pushes for policy review after Hanjin bankruptcy

Jan 13, 2019 - 1:25 PM

Hanjin Heavy Industries and Construction Corporation, which filed for bankruptcy, owes $400 million to local banks and another $900 million to South Korean lenders

Once mighty U.S. retailer Sears files for bankruptcy

Oct 15, 2018 - 3:34 PM

Sears reportedly could not afford a $134 million repayment that had been due on Monday

Toys 'R' Us to sell iconic mascot, adult website domain names

May 16, 2018 - 3:15 PM

Some of the domain names include, and

SELLING OFF ASSETS. Shoppers buy gifts at the Toys"R"Us store during early Black Friday events on November 24, 2016 in Paramus, New Jersey. File photo by Munoz Alvarez/Getty Images/AFP

Investor 'terminates' Weinstein Company assets deal

Mar 07, 2018 - 12:00 PM

Maria Contreras-Sweet says they have received disappointing information, deciding to terminate the transaction

Toys 'R' Us in PH unaffected by U.S. toy store chain's bankruptcy filing

Sep 20, 2017 - 8:25 PM

Operated by the Gokongweis, Toys 'R' Us Philippines clarifies it is not part of Toys 'R' Us Incorporated's bankruptcy filing in the United States

NORMAL OPERATIONS. It is business as usual for Toys 'R' Us Philippines, which operates 34 stand-alone stores and 44 Toybox outlets inside Robinsons Department Store branches. File photo

Toys''R''Us files for bankruptcy

Sep 19, 2017 - 4:00 PM

Retailer Toys ''R'' Us files for Chapter 11 bankruptcy protection in a US court, the company says, amid heavy debt and a tough environment for bricks and mortar stores

TOY HAVEN. In this file photo, shoppers buy gifts at the Toys''R''Us store during early Black Friday events on November 24, 2016 in Paramus, New Jersey. Eduardo Munoz Alvarez/Getty Images/AFP

Bankrupt Takata faces angry shareholders

Jun 27, 2017 - 1:15 PM

Many who attended the shareholder meeting Tuesday expressed outrage at how the auto parts giant handled the crisis caused by a defect in the firm s airbags

THIS WAY. An staff member (C) holds a placard leading shareholders to the venue of the annual shareholders' meeting of Japan's crisis-hit car parts maker Takata in Tokyo on June 27, 2017, a day after the company filed for bankruptcy protection. Toru Yamanaka/AFP

Japan's airbag giant Takata files for bankruptcy protection

Jun 26, 2017 - 8:20 AM

3rd UPDATE The Tokyo based car parts giant is facing lawsuits and huge costs over an airbag defect linked to at least 16 deaths globally

CONTROVERSIAL. Logo of the Japanese auto parts maker Takata is seen a car showroom in Tokyo on June 23, 2017. Behrouz Mehri/AFP to shut down next week

Aug 19, 2016 - 1:10 PM

The site s publication of Hulk Hogan s sex video in 2012 leads to its demise

ROYAL RUMBLE. A legal battle against wrestler Hulk Hogan sends the New York-based media company to the mat.

50 Cent, rapper gone broke, settles debts

Jul 07, 2016 - 10:13 AM

To get out of bankruptcy 50 Cent is allowed by a court to pay some 23 4 million to creditors over 5 years

Gawker in bankruptcy after sex tape case, finds buyer

Jun 11, 2016 - 9:36 AM

Following the bankruptcy filing the embattled US media group says it has reached a deal to sell its media brands to publishing group Ziff Davis

Australia's youngest billionaire Tinkler declared bankrupt

Mar 03, 2016 - 4:20 PM

Nathan Tinkler apologizes to his family and to creditors after losing his fortune in just 5 years

epa03647429 (FILE) Australian mining magnate Nathan Tinkler (C) arrives at the Supreme Court ahead of an examination into his firm in Sydney, Australia, 15 March 2013. Tinkler and his fellow directors and company secretary are being examined over the firm's failure to pay 28.4 million Australian dollar. Australia's youngest billionaire, coal baron Nathan Tinkler, had it all: private aircraft, the Hawaii mansion, bodyguards and the sports teams that made him a hometown hero. He also had a stable of more than 1,000 thoroughbred horses that cemented his status among the seriously wealthy. But, as the unraveling of his business empire is proving, the 36-year-old former electrician had it all on borrowed money. In November 2012, at an 'unreserved reduction sale,' 200 thoroughbreds were sold at bargain-basement prices. On 02 April 2013, the whole place is to go under the hammer. EPA/TRACEY NEARMY AUSTRALIA AND NEW ZEALAND OUT

Minority shareholders of Malaysia Airlines back buyout plan

Nov 06, 2014 - 10:18 PM

The approval moves the state investment holding arm Khazanah Nasional closer to implementing its restructuring plans to return the company to profitability

Malaysia Airlines to trim staff, routes, replace CEO in reform plan

Aug 29, 2014 - 4:48 PM

Khazanah Nasional hopes the measures will enable to save Malaysia Airlines from bankruptcy after two devastating disasters

MtGox bitcoin exchange files for US bankruptcy protection

Mar 11, 2014 - 3:25 PM

MtGox files for US bankruptcy protection 10 days after filing for bankruptcy protection in Japan where it is headquartered

US BANKRUPTCY PROTECTION. The MtGox bitcoin exchange files for US bankruptcy protection 10 days after doing the same in Japan.

Pizza chain Sbarro files for bankruptcy again

Mar 11, 2014 - 11:31 AM

There s also possible bankruptcy at Quizno s

BANKRUPT. Slow mall traffic weighs on Sbarro's sales. Photo courtesy of AFP

Bitcoin exchange MtGox files for bankruptcy protection

Feb 28, 2014 - 5:56 PM

Reports say the Tokyo District Court accepted the application

BITCOIN WOES. Bitcoin uses are feeling the crunch following claims of a multimillion dollar theft at the MtGox exchange.

Detroit bankruptcy case can go forward – court

Dec 04, 2013 - 8:31 AM

The city is saddled with more than 18 billion in debt and a tax base depleted by decades of population loss and urban blight

BANKRUPT CITY. A file photo dated 19 July 2013 showing a view over the Detroit skyline in Detroit, Michigan, USA. TEPA/Rena Laverty

Electric carmaker Fisker files for bankruptcy

Nov 24, 2013 - 8:46 AM

The California based company is entering an asset purchase agreement with Hybrid Tech Holdings LLC

5 signs you're going broke

Oct 06, 2013 - 10:29 PM

Or it goes down to how much you take for granted your salary and savings

SIGNS. If you can't pay for it in cash today, chances are you can't pay for it in cash tomorrow

Detroit workers fear effects of city's bankruptcy

Aug 04, 2013 - 10:39 AM

Many retirees bristle at the fundamental unfairness of being asked to pay for a financial crisis caused by decades of mismanagement and complex social and economic problems

Bankrupt: Detroit now poster child for urban decay

Jul 19, 2013 - 7:55 AM

Once a bustling beacon of industrial might Detroit becomes the largest US city to file for bankruptcy

Reader's Digest is bankrupt - report

Feb 18, 2013 - 4:32 PM

The publisher of iconic magazine Reader s Digest files for bankruptcy to cut its debt and focus on online media

Amid mounting problems, corporate India seeks spiritual solace

May 13, 2012 - 1:42 PM

Appeal to esoteric powers to help with corporate predicament is far from unusual in India where free market capitalism is often infused with mysticism and astrology