bankruptcy

Tupperware Brands Corporation (NYSE:TUP) announced yesterday that it and some of its subsidiaries have voluntarily filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the District of Delaware. In a filing, the company said, while its direct-selling business model thrived for years, in...

Do Kwon, the disgraced co-founder of Terraform Labs, is set to be extradited from Montenegro to South Korea, as per a court ruling. The decision rejects a U.S. extradition request. What Happened: The Appellate Court of Montenegro upheld a previous decision by the High Court of Podgorica to hand...

2U Inc. (NASDAQ:TWOU), a prominent online education company, has filed for Chapter 11 bankruptcy protection. The Maryland-based firm has been grappling with mounting debt and intensified competition. What Happened: On Thursday, 2U, a key player in the online education sector, announced its decision...

Editor’s note: This story has been updated to add additional detail around U.S. corporate bankruptcies filed in 2010. A higher-for-longer interest rate environment has sent many companies reeling, as corporate bankruptcies hit a high in June. The data came during concerns about the U.S....

The parent company of Saks Fifth Avenue has reportedly agreed to acquire its rival Neiman Marcus for $2.65 billion. The deal, which is expected to be announced imminently, will see the involvement of Amazon.com Inc. (NASDAQ:AMZN). What Happened: The acquisition, which has been approved by the...

Walgreens expects to close a “significant” number of stores in the face of “headwinds,” but the pharmacy chain has not specified how many retail locations it plans to shutter. Parent company Walgreen Boots Alliance, Inc. (NASDAQ:WBA) announced the plan to close an...

Marques Brownlee, the prominent tech YouTuber known as MKBHD, expressed his disappointment over the bankruptcy of Fisker Inc., underlining the need for more competition in the electric vehicle sector. What Happened: Brownlee took to X to share his thoughts on Fisker’s bankruptcy. He...

Electric vehicle manufacturer Fisker Inc (OTCPK: FSRN), once a market darling, filed for bankruptcy on Monday. What does Fisker’s bankruptcy mean for an EV market facing mixed signals? What Happened: Put simply, Fisker bled money. The Manhattan Beach, California-based company had significant...

Red Lobster, formerly the largest seafood restaurant chain in the world, officially filed for Chapter 11 bankruptcy protection on Monday. The chain, formerly owned by restaurant group Darden Restaurants Inc (NYSE:DRI), began auctioning off kitchen equipment at some locations, but does not plan to...

Crypto lending firm Genesis Global has reportedly been given the green light by a U.S. Bankruptcy Judge to return approximately $3 billion in cash and cryptocurrency to its clients. This move leaves the firm’s owner, Digital Currency Group (DCG), with no recovery from the bankruptcy. What...

FTX, the cryptocurrency exchange that filed for bankruptcy in November 2022, has accumulated a substantial cash reserve, allowing it to fully reimburse its customers. What Happened: FTX has amassed more than enough cash to cover the losses incurred by its customers during its collapse in November...

Fisker Inc‘s (NYSE:FSRN) Austrian unit Fisker GmbH on Tuesday voluntarily filed for bankruptcy protection as the beleaguered EV maker continues to struggle to solve its financial issues. What Happened: The Austrian unit said in a statement that no other entities of Fisker are included in the...

Was anyone surprised that MedMen declared bankruptcy in Canada last week? The hundreds of laid-off workers, thousands of investors, stiffed landlords and suppliers, no doubt, had a few clues. The California cannabis chain, with its ostentatious red awning on the outside and looking like the...

The Chinese government is tightening the noose on debt defaulters, imposing stringent penalties that include restrictions on high-speed rail travel and luxury accommodations. This move is part of a broader crackdown on unpaid bills. What Happened: Beijing is resorting to severe actions against...

As Donald Trump faces a Monday deadline to provide the $454 million bond for appealing the New York civil fraud case, Department of Justice veteran Andrew Weissmann stated on Sunday that the former president is unlikely to file for bankruptcy. What Happened: ...