#bankruptcy

  • Cambridge Analytica shutting down, files for bankruptcy

    A data firm at the heart of Facebook’s ongoing user privacy controversy announced Wednesday that it was shutting its doors and filing for bankruptcy. Cambridge Analytica, the U.K.-based data mining firm Facebook accuses of misusing data from up to 87 million of the social media giant’s user profiles during...
  • Gibson Guitar files for bankruptcy with plans to renew business

    Gibson Brands filed for bankruptcy with a turnaround plan that will give some of the company’s lenders equity ownership of the iconic American business that’s supplied guitars to B.B. King, Elvis Presley and Pete Townshend. A restructuring support agreement with senior secured noteholders will help it repay bank loans...
  • Remington: Oldest US gunmaker files for bankruptcy

    The oldest gun manufacturer in the US, Remington Outdoor, has filed for bankruptcy in the wake of slumping sales. The firm, founded more than 200 years ago, filed for bankruptcy protection to cut a deal with its creditors. Remington’s chief financial officer said the company’s sales dropped significantly in...
  • Gunmaker prepares to file for bankruptcy

    Where’s Hillary Clinton when the gun industry needs her? The Democrat’s election loss to Donald Trump was cheered by the National Rifle Association and other gun lobbyists, given the current U.S. president’s commitment to allowing unfettered access to firearms. However, with customers less concerned that their ability to accumulate...
  • Another retail store files for bankruptcy protection

    Bon-Ton Stores, the corporate parent of several department store chains, tumbled into Chapter 11 bankruptcy protection as the company seeks a fresh lease on life. Bon-Ton, whose brands include Boston Store, Carson’s, Elder-Beerman and Younkers, had been on a fast track toward bankruptcy court after it recently announced plans to close...
  • Who Bankrupted Toys ‘R’ Us? Blame Private Equity and Millennial Parents

    Toys “R” Us announced on Wednesday that it will close about 180 stores in the U.S., or about one-fifth of its domestic locations, as the company emerges from bankruptcy proceedings to restructure $5 billion in debt. On one level, this is just the latest chapter in the never-ending saga...
  • Barbie is feeling the hit from ToysRUs Bankruptcy!

    Even before this happened, toy makers have been struggling to sell thanks to devices like iPads   There’s trouble in toyland, and companies are blaming Toys R Us. Mattel, the maker of Barbie dolls and Hot Wheels cars, reported disappointing third-quarter results and said it was hurt by Toys...
  • The Toys R US bankruptcy is going to have a big impact on holiday sales

    • The Toys R US bankruptcy is going to impact holiday sales, Hasbro says. • Hasbro estimates fourth quarter revenue will come in at $1.7 billion to $1.74 billion, missing Wall Street expectations. (Reuters) – The bankruptcy of Toys’R’Us weakened Hasbro Inc’s forecasts for the holiday season in otherwise...
  • Toys ‘R’ Us files for bankruptcy ahead of holiday season

    (Reuters) – Toys ‘R’ Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection late Monday, the latest sign of turmoil in the retail industry that is caught in a viselike grip of online shopping and discount chains. The Chapter 11 filing is among the largest ever...