Tag: Bankruptcy
-
I’m a single parent with 2 kids, and owe $27,000 after being scammed. What now?
[ad_1] I’m a single parent with two kids, and fell victim to an online dating scam. I have no legal recourse as I did this on my own, thinking I was helping someone. My credit has now tanked. I owe $17,000 on one credit card, and I have two loans of $5,000 each. I have my…
-
Anchor Brewing, the OG of craft beer, is shutting down after years of losses
[ad_1] Anchor Brewing Co., the self-proclaimed first craft brewery in the U.S., said it will close its doors after 127 years in business. Market Pulse: San Francisco–based craft-beer pioneer Anchor Brewing is closing down after 127 years: report Anchor, whose beer lineup includes Anchor Steam, Old Foghorn and West Coast IPA, has decided to begin…
-
Bankruptcies have been brisk this year — and it’s just the halfway point
[ad_1] Americans were filing for bankruptcy much more in the first half of 2023 than they were at the same point last year, according to new numbers showing the increase in financial strain for some as pandemic protections fade away. The rise in 2023 cases comes even before student loan payments restart in October after…
-
Why investors gamble on shares of bankrupt companies — Bed Bath & Beyond, for example
[ad_1] The recent movement in Bed Bath & Beyond Inc.’s stock has shone a spotlight on the attraction that bankrupt companies hold for some investors. Bed Bath & Beyond’s shares BBBYQ, -8.01% have risen 30.7% in the last month, outpacing the S&P 500’s SPX, -0.29% gain of 2.9%, despite the bankrupt home-goods retailer’s well-documented woes.…
-
Why some Bed Bath and Beyond investors think ‘Teddy’ could be meme stock savior
[ad_1] Shares of bankrupt Bed Bath & Beyond Inc. rose 3% Wednesday, with the meme stock maintaining its appeal to some investors, despite the retailer’s well-publicized woes. Bed Bath & Beyond BBBYQ filed for chapter 11 in April and was subsequently delisted from the Nasdaq Composite. Trading over the counter since May 4, and with liquidation…
-
Overstock to bring back Bed Bath & Beyond’s loyalty program after asset purchase
[ad_1] Bed Bath & Beyond’s stores might be disappearing, but the home-goods retailer will survive in online form, following Overstock.com Inc.’s deal announced Wednesday to acquire and revive the bankrupt chain’s website and loyalty program. Overstock OSTK, +6.11% on Wednesday said it had it had acquired Bed Bath & Beyond’s brand and intellectual property, in…
-
Bankruptcy judge approves Overstock’s bid to buy Bed Bath & Beyond assets
[ad_1] Overstock.com shares OSTK, +4.38% rose Tuesday as a judge approved the company’s $21.5 million bid to buy the assets of bankrupt retail chain Bed Bath & Beyond Inc. U.S. Bankruptcy Court Judge Vincent Papalia gave the sale the green light Tuesday afternoon at a hearing in New Jersey, and said he was “gratified” that the…
-
WeQuit: WeWork bonds sink after top executives resign from cash-burning company
[ad_1] WeWork Inc. bonds have been sinking deeper into distressed territory after two top executives left the company on the heels of a complex debt restructuring. WeWork’s roughly $163 million of 7.875% bonds due May 2025 were trading hands at about 45 cents on the dollar on Thursday, down from about 55 cents in mid-May,…
-
Rocket Lab agrees to pay $16 million for portion of Virgin Orbit assets
[ad_1] Rocket Lab USA RKLB, -8.69% said Tuesday it is finalizing an asset purchase agreement to buy certain aerospace production and manufacturing assets as part of Virgin Orbit Holdings’s VORWQ, +28.79% chapter 11 bankruptcy auction. The launch and space systems company said its purchase of the Long Beach, Calif. aerospace production and manufacturing assets is…