bankruptcy

Virgin Atlantic Files For Bankruptcy In U.S.

(CNN) - Virgin Atlantic is filing for bankruptcy protection in the U.S. The global airline, which is based in Britain submitted its Chapter 15 filing in New York on Tuesday. The move came despite a $1.5 billion rescue deal…

Aeromexico Files For Bankruptcy In US

(CNN) - The airline Aeromexico is filing for bankruptcy. Citing a "significant reduction in demand" from passengers. The company has initiated financial restructuring under Chapter 11 bankruptcy in the United States, a statement released on Tuesday said. In the…

GNC Files For Bankruptcy, Closing 1200 Stores

Honolulu, HI (KITV) - GNC has filed for bankruptcy and will close up to 1,200 stores. The 85-year-old vitamin and dietary supplement company has been saddled with nearly a billion dollars of debt. GNC has faced declining sales at…

24 Hour Fitness Files For Bankruptcy, Closing Gyms

(CNN) - The 24 Hour Fitness company filed for bankruptcy Monday, announcing plans to close 100 gyms permanently in 14 states. The pandemic forced the national fitness chain to keep its facilities closed for months. 24 Hour Fitness was…

Pier 1 Officially Going Out Of Business

(CNN) - Pier 1 is officially going out of business. Pier 1 Imports is closing-up shop after a court approved its bankruptcy application. That now allows pier one to liquidate its retail operations in about 500 stores across the…

JCPenney Plans To Close 29% Of Stores

(CNN) - Just days after filing for bankruptcy, JCPenney is now planning to close nearly 200 stores this year. The 118-year-old company has struggled to gain profits for years but the company said the pandemic caused sales to plummet.…

Neiman Marcus Files For Bankruptcy

(CNN) - Retail giant Neiman Marcus filed for bankruptcy on Thursday as the coronavirus pandemic continues to batter the industry. The company released a statement saying it entered into a restructuring agreement with creditors. They did not announce any…

J. Crew Files For Bankruptcy

(CNN) - J.Crew has filed for bankruptcy. It's the first national U.S. retailer to file for Chapter 11 bankruptcy-protection since the coronavirus pandemic forced a wave of store closures. J.Crew group said it filed to start proceedings in federal…

Most Airlines Could Be Bankrupt By May

(CNN) - The coronavirus is making the airline industry so sick, many major carriers may go bankrupt. One consultancy is projecting most airlines in the world will be out of money by the end of May. Europe's biggest low-cost…

Pier 1 Files For Bankruptcy

(CNN) - Home decor retailer Pier One is going bust. The company says it filed for bankruptcy Monday, after racking up $59-million in losses. The statement says Pier One has cut a deal with lenders to get a-quarter-billion dollars…