Highlights
A collection of news and information related to Financially Distressed Companies published by Tribune Company sources.
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Bankruptcy judge OKs bonuses at Boscov
Boscov's Inc., a Reading, Pa.-based department store chain, received court approval for a plan to pay $1.45 million in incentive bonuses to six executives, over the objections of the U.S. Trustee in the bankruptcy case. U.S. Bankruptcy Judge Kevin Gross...Tags: Corporate Officers, Court Administration, Bankruptcy
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Vick's family might have to give gift money to his creditors
247-4749Money that suspended NFL quarterback Michael Vick gave his fiancee, mother, two children and other family members in recent years might be taken to pay creditors to whom Vick now owes money, Vick's attorneys said. That includes money that Vick —...Tags: Prisons, Property, National Football League, Michael Vick, Bankruptcy
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Mervyn's lawsuit alleges assets used to fund buyout
Chicago Tribune reporterA lawsuit filed this week as part of Mervyn's Chapter 11 bankruptcy reorganization alleges that the retailer's "valuable" real estate assets—store-owned locations and below-market leases—were stripped of their value and used partly to...Tags: Chicago Cubs, Real Estate Buyers, Tribune Co., Marshall Field, Prosecution
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Mervyns accuses ex-owners of causing its bankruptcy
Los Angeles Times Staff WriterMervyns, the mid-priced department store chain in bankruptcy proceedings, has filed a lawsuit against its former owners, including Target Corp., saying that the Wall Street investment firms that bought it in 2004 stripped Mervyns of its valuable real...Tags: Real Estate Buyers, Canoga Park, Bankruptcy, Thousand Oaks, Trials
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Resort near Rothbury suspends daily operations
The financially strapped Double JJ Ranch, Waterpark and Golf Resort has suspended its daily operations in anticipation of the resort being sold at auction in early October. The 2,000-acre western-themed destination in southern Oceana County closed...Tags: Wine, Beer, and Spirits, Oceana, Bankruptcy
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Steve & Barry's won't commit to Denbigh store
As it emerges from bankruptcy, the Steve & Barry's chain says it will close 103 stores, but still has not made a decision about whether to open a planned store in the Newport Crossing Shopping Center in Newport News. The store in Lynnhaven Mall in...Tags: Newport News (Newport News, Virginia), Denbigh, Bankruptcy
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EPA may add Milford's Curtis site to Superfund list
Of The Morning CallAs the mayor of Milford in Hunterdon County, N.J., James A. Gallos has known the future of his tiny borough rests in its toxic past as a mill town along the scenic Delaware River. Since 2003 when Milford's largest employer, Curtis Specialty Papers,...Tags: Regional Authority, Hunterdon County, Environmental Pollution, Environmental Cleanup, Bankruptcy
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Steve & Barry's staying on LI
keiko.morris@newsday.comSteve & Barry's Long Island stores will remain open. BHY S&B Holdings Llc, the company that purchased the Port Washington retailer out of Chapter 11 bankruptcy, plans to close about 100 of its 276 stores but will keep its five Long Island locations...Tags: Celebrity, Long Island, Court Administration, Stephon Marbury, Sarah Jessica Parker
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Shells Seafood Restaurants closes Orlando locations
Sentinel Staff WriterShells Seafood Restaurants abruptly shut down its three Orlando-area locations Wednesday after filing for bankruptcy protection, becoming the latest casual dining chain to fall victim to the sour economy. Shells, based in Tampa, filed for Chapter 11...Tags: Wine, Beer, and Spirits, Seafood and Fishing Industry, Shells Seafood Restaurants Incorporated, Bankruptcy, Bennigan's
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Boca Raton-based Oriole Homes shuts down after 45 years in Florida
South Florida Sun-SentinelOriole Homes Corp. of Boca Raton is the latest casualty of South Florida's historic housing debacle. The 45-year-old company has stopped operating and filed in court an assignment for the benefit of creditors, which is a less costly alternative to...Tags: Homes, Broward County, Boynton Beach, Bankruptcy, Boca Raton
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More elderly Americans being forced into bankruptcy
The Associated PressFirst came the health problems. Then, unable to work, Ada Noda watched the bills pile up. And then, suffocating in debt, the 80-year-old did something she never thought she'd be forced to do. She declared bankruptcy. While the bankruptcy filing rate for...Tags: Demographics, Population, Bankruptcy
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Shells Seafood files for Chapter 11, closes some restaurants in Orlando area
Sentinel Staff WriterShells Seafood Restaurants Inc. abruptly shut down its three Orlando-area locations Wednesday after filing for bankruptcy protection, becoming the latest casual-dining chain to fall victim to the sour economy. Shells, based in Tampa, filed for Chapter 11...Tags: Sales, Ocala, Seafood and Fishing Industry, Shells Seafood Restaurants Incorporated, Restaurant and Catering Industry
Sep 6, 2008
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Sep 6, 2008
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Sep 5, 2008
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Sep 5, 2008
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Sep 4, 2008
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Sep 4, 2008
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Sep 4, 2008
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Sep 3, 2008
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Sep 2, 2008
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Sep 4, 2008
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