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Bankruptcy & Restructuring

Marketing Communications Firm Tossed Into Saladworks Chapter 11 as Unsecured

February 18, 2015

Star Group, which claims to be the largest women-owned marketing communications firm in the U.S., is among Saladworks LLC’s top unsecured creditors. The claim is in the form of trade debt and it totals $76,720.21. Star Group is based in Voorhees, New Jersey. The Conshohocken, Pennsylvania-based salad franchise filed its bankruptcy papers in Delaware Tuesday listing $10 million to $50 million in

Endeavour Plan on Hold Following Decline in Crude

February 11, 2015

BY BILL ROCHELLE The Endeavour International Corp. reorganization plan was stopped in its tracks by the plunge in the price of crude oil, at least for the time being. Endeavour, an independent oil and natural-gas exploration and production company operating mostly in the North Sea, negotiated a reorganization plan before its Oct. 10 Chapter

Caesars Propels Bankruptcy Index Higher

February 9, 2015

The Bloomberg Corporate Bankruptcy Index rose 58.82 percent from a year ago to a reading of 86.54 in January thanks to Caesars Entertainment Operating Co.’s $19.868 billion Chapter 11 petition. The gauge of recent U.S. bankruptcy activity for corporations with at least $100 million in reported liabilities was up 18.58 percent in January from December. In addition to

Telecommunications Giants Are Among Top RadioShack Unsecured Creditors

February 6, 2015

Sprint Corp. and Verizon Communications are among RadioShack Corp.’s top ten unsecured creditors, according to the electronics retailer’s bankruptcy court documents. Sprint, which plays an integral role in RadioShack’s restructuring with its plan to take over about half of the retailer’s stores, is owed just over $6 million. Its claim is in

RadioShack Is Eleventh Among Top 25 Retail Bankruptcies Since 1995

February 6, 2015

RadioShack, which listed debt of $1.387 billion in its Chapter 11 petition, is the eleventh largest retail bankruptcy by liabilities since 1995, according to data compiled by Bloomberg LP. RadioShack valued its assets at $1.2 billion and has between 50,000 and 100,000 creditors. — Kurt Kester, Bloomberg Data Analyst (Click on the

Take-Two Is Supplier Most Reliant on RadioShack

February 6, 2015

  This chart was taken from the Bloomberg Brief Bankruptcy & Restructuring Newsletter. To take a complimentary 30 day trial click here. 

Duo of U.S. Mall Property REITs Caught Up in Cache’s Bankruptcy

February 5, 2015

Simon Property, the Indianapolis real estate investment trust that manages malls and outlet centers, and General Growth Properties, a Chicago REIT that operates regional malls, are Cache Inc.’s top unsecured creditors, according to court documents. Cache, a women’s clothing chain based in New York, filed its Chapter 11 papers in Delaware on Wednesday. It listed debt of as much

Delaware: The Biggest State (for Large Business Ch. 11s)

February 4, 2015

While Caesars’ Chapter 11 case was moved to Illinois’s northern district from Delaware, most Chapter 11s involving debt of $100 million or more end up in Wilmington’s courthouse. Since 2000, Delaware has served as the venue for 411 Chapter 11s with $100 million or more in liabilities, compared with 203 taken on by

Delaware Judge to Rule on Caesars Venue Today

January 28, 2015

BY STEVEN CHURCH Caesars Entertainment Operating Co. will learn today whether its $20 billion restructuring bid will be heard in a bankruptcy court in Chicago, its chosen venue, or in Delaware, where creditors fighting the plan want the case to stay. After half a day of sometimes rancorous argument between lawyers

AT&T to Buy Nextel Mexico’s Wireless Assets for $1.9 Billion

January 26, 2015

BY SCOTT MORITZ AT&T Inc., the second-largest U.S. mobile-phone carrier, agreed to buy NII Holdings Inc.’s Mexican wireless assets for $1.875 billion in its third deal to expand south of the U.S. border. The acquisition includes companies that operate under the name Nextel Mexico, spectrum licenses, network assets, retail stores and about 3 million customers, Dallas-based AT&T said