A wealthy family investment fund tied to controversial political donor George Soros will assume a major stake in one of the nation’s largest radio companies, Audacy, which operates several stations in Boston. Philadelphia-based Audacy initiated Chapter 11 bankruptcy proceedings in U.S. Bankruptcy Court for the Southern District of Texas, the company announced last month. Subsequent … Read more
Updated Nov. 9, 2023 12:52 pm ET|WSJ Pro Celsius Network, the crypto platform that touted itself as safer than a bank, won court approval to end its bankruptcy case and release most of its remaining cryptocurrency back to hundreds of thousands of customers whose funds have been trapped since last year. The plan approved in … Read more
For close to a decade, WeWork seemed unstoppable. The company grew rapidly and spent extravagantly. On Monday, WeWork declared bankruptcy. While the co-working company could eventually emerge from the Chapter 11 process and survive in some form, the filing marks a new low for a business that was one of the world’s most valuable startups as … Read more
WeWork, the formerly high-flying shared office space company that was once among the world’s most valuable startups, filed for bankruptcy on Monday after years of deteriorating financial performance. WeWork’s collapse caps a startling decline for a company that was valued at $47 billion in early 2019 after a torrent of venture capital funding from Japan’s … Read more
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High borrowing costs ate starting to bite in corporate America. Photo / Alexander Spatari, Getty Images The US economy may be growing much faster than pessimists had predicted, but business is still brisk for bankruptcy lawyers. “Things have really accelerated,” says Thomas Lauria, global head of restructuring at White & Case. His team is on … Read more
WHITE BEAR TOWNSHIP, Minn. — The manufacturing plant at the center of several WCCO investigations has filed for Chapter 11 bankruptcy. Water Gremlin is looking to sell its operation that makes battery terminals in White Bear Township. It’s facing 95 civil lawsuits from people who live or lived nearby. They’re accusing the plant of causing … Read more
When we bring you news of a store that closed, consumers may have questions: What happens if I’m owed a refund or a product? What about gift cards I haven’t used yet? Read on for expert advice about steps consumers can consider. CUSTOMERS LOOK FOR ANSWERS Outside two different Al’s Formal Wear locations during business … Read more