Tag:

Bankruptcy

Investigation Into Priest Sexual Abuse Can Proceed, NJ Supreme Court Rules Investigation Into Priest Sexual Abuse Can Proceed, NJ Supreme Court Rules
Investigation Into Priest Sexual Abuse Can Proceed, NJ Supreme Court Rules The New Jersey Supreme Court unanimously ruled on Monday, June 16 that a grand jury investigation into New Jersey archdioceses for sexual abuse can proceed. The Diocese of Camden had challenged the original grand jury investigation, which began in 2018, and a trial court had ruled in favor of the church, blocking the investigation, ruling it was not authorized by law. "We find that the State has the right to proceed with its investigation and present evidence before a special grand jury. If the grand jury issues a presentment, the assignment judge should review the report and publ…
Spirit Adding Flights From Atlantic City Airport To Miami: Here's What To Know Spirit Adding Flights From Atlantic City Airport To Miami: Here's What To Know
Spirit Adding Flights From Atlantic City Airport To Miami: Here's What To Know Jersey Shore travelers will soon have a new way to reach South Florida. Spirit Airlines is launching nonstop flights from Atlantic City International Airport to Miami International Airport, a spokesperson said to the Daily Voice on Friday, June 13. The seasonal service starts Wednesday, Aug. 13. The flights will be offered four times a week: Mondays, Wednesdays, Fridays, and Saturdays. "We know many of our Atlantic City guests enjoy traveling to South Florida, and we're excited to make it easier to visit Miami and enjoy the city's beautiful beaches, unique culture and exciting ni…
Pickleball Company Owner Scammed Hundreds, Owes $47M In Debts: DOJ Pickleball Company Owner Scammed Hundreds, Owes $47M In Debts: DOJ
Pickleball Company Owner Scammed Hundreds, Owes $47M In Debts: DOJ A pickleball company owner accused of running a Ponzi-like scheme won't be able to walk away from more than $47 million in unpaid debts, authorities said. Rodney Grubbs agreed to waive his right to bankruptcy discharge, the Department of Justice announced on Wednesday, June 11. Grubbs was the owner of Indiana-based All About Pickleball LLC, also known as Pickleball Rocks. Creditors can continue to go after him for repayment, even after his bankruptcy case is closed. "The USTP is committed to addressing fraudulent and abusive conduct that threatens the integrity of the bankruptcy …
Philly-Based Rite Aid Closing 110+ More Stores Amid New Bankruptcy Filing: See Full List Philly-Based Rite Aid Closing 110+ More Stores Amid New Bankruptcy Filing: See Full List
Philly-Based Rite Aid Closing 110+ More Stores Amid New Bankruptcy Filing: See Full List Rite Aid will shut down more than 100 additional stores nationwide as the struggling pharmacy chain moves deeper into bankruptcy. The closings were disclosed in a recent bankruptcy court filing, less than a month after Rite Aid filed for Chapter 11 on Monday, May 5. The Philadelphia-based chain is working to sell off its pharmacies, inventory, and other assets to several potential buyers. Rite Aid said it has secured $1.94 billion in new financing to keep locations open during the bankruptcy process. Pharmacy services and immunizations will continue in-store and online. The lates…
Big Lots Reopening 78 Stores As Retailer Finishes Bankruptcy Comeback: See The Full List Big Lots Reopening 78 Stores As Retailer Finishes Bankruptcy Comeback: See The Full List
Big Lots Reopening 78 Stores As Retailer Finishes Bankruptcy Comeback: See The Full List Dozens of more Big Lots stores will reopen, finishing a nationwide comeback months after the discount chain filed for bankruptcy. Big Lots will open 78 stores on Wednesday, June 5, the company said in a news release on Friday, May 30. The chain began reopening locations in April after it was purchased by Variety Wholesalers in December 2024. After this wave of reopenings, Big Lots will have 219 stores back in business in the mid-Atlantic, Midwest, and South. Nine stores were the first to open on Thursday, April 10, and 132 locations joined in May. Big Lots said its reop…
Westchester-Based Regeneron Buying Bankrupt 23andMe For $256M, Pledges To Protect DNA Data Westchester-Based Regeneron Buying Bankrupt 23andMe For $256M, Pledges To Protect DNA Data
Westchester-Based Regeneron Buying Bankrupt 23andMe For $256M, Pledges To Protect DNA Data Regeneron Pharmaceuticals will acquire embattled DNA testing company 23andMe in a $256 million court-supervised sale, promising to honor existing privacy protections and continue consumer services with no changes. The agreement to buy 23andMe was announced in a news release on Monday, May 19. It comes two months after 23andMe filed for Chapter 11 bankruptcy. Under the deal, Westchester County, New York-based Regeneron will take over 23andMe's personal genome service, total health, and research services. The telehealth brand Lemonaid Health will be shut down and Regeneron has offered to…
Spirit Adds Extra-Legroom Seats, Joining Airline Industry's Premium Push Spirit Adds Extra-Legroom Seats, Joining Airline Industry's Premium Push
Spirit Adds Extra-Legroom Seats, Joining Airline Industry's Premium Push Another airline is looking to compete for flyers wanting more comfortable travel experiences. Spirit Airlines will offer new extra-legroom seats on its flights, the company said in a news release on Tuesday, May 13. The budget airline also announced upgrades to its Free Spirit loyalty program. The updates mark a major shift for Spirit, which recently exited bankruptcy and is working to win over flyers with added perks and space. "Spirit's new premium options offer travelers exceptional value, and we're creating even more opportunities for guests to experience them with our new extra-legroo…
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy A Texas restaurant company is set to buy On The Border Mexican Grill & Cantina after the Tex-Mex chain filed for bankruptcy, closing more than 70 locations – including more than a dozen in the Northeast. Pappas Restaurants won an auction for On The Border, the Houston-based group said in a news release on Wednesday, May 7. The deal needs court approval and is expected to be finalized "in the coming weeks." The price wasn't mentioned in Pappas' announcement. The company previously submitted a $15.9 million stalking horse bid to buy On The Border, FSR Magazine reported in A…
Dead Man’s House Stolen With Help From Bucks County Attorney, Now Sentenced To Prison: DOJ Dead Man’s House Stolen With Help From Bucks County Attorney, Now Sentenced To Prison: DOJ
Dead Man’s House Stolen With Help From Bucks County Attorney, Now Sentenced To Prison: DOJ A Bucks County attorney who took part in a scheme to steal a house from a dead man’s family and filed false claims in federal court is headed to prison, the FBI announced on Tuesday, May 6. Alan Kane, 60, of Jamison, was sentenced to one year and one day in prison, followed by three years of supervised release, according to US Attorney David Metcalf. He must also pay $160,072 in restitution and a $1,000 fine, as ordered by U.S. District Court Judge Michael M. Baylson on Monday, April 28. A federal jury convicted Kane in September of two counts of bankruptcy fraud, one count of filing a fals…
Philly-Based Rite Aid Files For Bankruptcy Again: What It Means For Your Prescriptions Philly-Based Rite Aid Files For Bankruptcy Again: What It Means For Your Prescriptions
Philly-Based Rite Aid Files For Bankruptcy Again: What It Means For Your Prescriptions Rite Aid has declared bankruptcy for the second time in less than two years, as part of a plan to sell off its pharmacies, inventory, and other assets. The Philadelphia-based pharmacy chain officially filed for Chapter 11 bankruptcy on Monday, May 5. Rite Aid has entered talks with several potential national and regional buyers. The company said it has secured $1.94 billion in new financing to keep most stores open during the process. Pharmacy services and immunizations will remain available in-store and online. In October 2023, Rite Aid previously filed for bankruptcy …
Cleona Big Lots Among 130+ Stores Reopening: See The Full List Cleona Big Lots Among 130+ Stores Reopening: See The Full List
Cleona Big Lots Among 130+ Stores Reopening: See The Full List Big Lots is ramping up its comeback plans under new ownership by opening more than 130 stores, including nearly two dozen in Pennsylvania and Virginia. The discount chain plans to reopen 132 stores across 14 states in May, Variety Wholesalers announced in a news release on Monday, April 28. Pennsylvania (13 stores) and Virginia (10 stores) are among the top states for returning locations. Big Lots will reopen 54 stores on Thursday, May 1, and 78 locations on Thursday, May 15. "The customer response to the newly expanded assortment of fresh inventory and great deals has been overw…
Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?' Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?'
Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?' A health crisis is unfolding in Delaware County, where officials and caregivers are pleading for intervention as Prospect Medical moves to shut down Crozer Health. Crozer Health’s hospitals and facilities, including Crozer-Chester Medical Center and Taylor Hospital, are set to close within 30 days, the company announced on Monday, April 21. Emergency departments at both hospitals will stop accepting patients starting Wednesday, April 23, Prospect Medical officials confirmed. That closure prompted Chester Mayor Stefan Roots to declare a state of emergency on Tuesday, April 22, allowing the c…
Spirit Airlines Hires New CEO From Competitor After Flying Out Of Bankruptcy Spirit Airlines Hires New CEO From Competitor After Flying Out Of Bankruptcy
Spirit Airlines Hires New CEO From Competitor After Flying Out Of Bankruptcy Spirit Airlines is bringing in new leadership to guide its economic reroute after emerging from bankruptcy and shedding nearly $800 million in debt. Dave Davis will take over as Spirit's new president and CEO starting Monday, April 21, the company said in a news release. Since December 2019, Davis has been the president of fellow budget carrier Sun Country Airlines. Davis will also join Spirit's board of directors. "We're excited to welcome Dave as Spirit's new president and CEO," Spirit's board chair Robert Milton said. "He brings with him a wealth of experience and a solid track rec…
The Ground Round Returns To MA, Promising 'Great Food And Unforgettable Memories' In Shrewsbury The Ground Round Returns To MA, Promising 'Great Food And Unforgettable Memories' In Shrewsbury
The Ground Round Returns To MA, Promising 'Great Food And Unforgettable Memories' In Shrewsbury A nostalgic favorite in family-friendly dining has officially returned to Massachusetts. The Ground Round in Shrewsbury is now offering limited dinner service, the restaurant announced on its Facebook page. It's located at 271 Grafton Street, in the former home of a Chinese-Japanese restaurant named Bauhinia. A grand opening celebration will be held on Wednesday, April 30. "First few days have been incredible, thank you to all who stopped in this weekend," The Ground Round posted on Monday, April 7. "Fish & Chips and Steak Tips were flying out of the kitchen!" The bar is open for…
Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut
Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut Spirit Airlines is changing its senior leadership after exiting bankruptcy and shedding nearly $800 million in debt. Ted Christie, who has led the airline since 2019, stepped down as CEO and president on Monday, April 7. He also resigned from the board of directors for the company based in Dania Beach, Florida. The board has not yet named a permanent replacement, opting for an interim "Office of the President," made up of executive vice president and CFO Fred Cromer, executive vice president and COO John Bendoraitis, and senior vice president and general counsel Thomas Canfield. "Ted has k…
Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing
Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing Big Lots stores will reopen under new ownership more than seven months after the chain filed for bankruptcy. Discount retailer Variety Wholesalers, the new owner of Big Lots, announced the reopening plan in a news release on Friday, April 4. Big Lots applied for bankruptcy in September 2024 and Variety Wholesalers purchased hundreds of locations about three months later. Variety is planning a four-phase rollout following the company’s acquisition of 219 Big Lots locations out of bankruptcy. "We're thrilled to bring the Big Lots! brand back to life by offering more deals…
Hooters Files For Bankruptcy, Joining Wave Of Struggling Restaurant Chains Hooters Files For Bankruptcy, Joining Wave Of Struggling Restaurant Chains
Hooters Files For Bankruptcy, Joining Wave Of Struggling Restaurant Chains Hooters, the restaurant famous for chicken wings and waitresses with skimpy outfits, is the latest national chain to file for bankruptcy. Hooters of America officially announced the Chapter 11 bankruptcy filing in a news release on Monday, Mar. 31. The Atlanta-based company filed for bankruptcy in a Texas federal court as part of a plan to sell off its corporate-owned locations and shift to a franchise-only model. The company said the move comes with "near unanimous support from key stakeholders" and aims to streamline operations while keeping all restaurants open during the restructur…
Burrito Panic Over: Chipotle Denies Closure Rumors After Bankruptcy False Claim Spreads Burrito Panic Over: Chipotle Denies Closure Rumors After Bankruptcy False Claim Spreads
Burrito Panic Over: Chipotle Denies Closure Rumors After Bankruptcy False Claim Spreads Don't worry, Chipotle fans. Barbacoa burritos aren't going anywhere. Chipotle Mexican Grill has denied social media rumors that claimed the fast-casual restaurant chain is closing locations and filing for bankruptcy. A company spokesperson confirmed Chiptole isn't downsizing in an email to the Daily Voice on Wednesday, Mar. 26. The rumors appear to have started with a story by Madrid-based outlet Unión Rayo, Newsweek reported. The aggregate site from Spain used an image of the Chipotle logo while reporting on the closure of the chain's spinoff, Farmesa Fresh Eatery. The test location …
Ocean State Job Lot Moving Into Former Big Lots In Webster, 14 Other Stores: Here's Where Ocean State Job Lot Moving Into Former Big Lots In Webster, 14 Other Stores: Here's Where
Ocean State Job Lot Moving Into Former Big Lots In Webster, 14 Other Stores: Here's Where Ocean State Job Lot is taking over more than a dozen former Big Lots locations, bringing the discount retail chain to new communities across the Northeast and mid-Atlantic. Ocean State Job Lot has acquired 15 former Big Lots stores, the company said in a news release on Wednesday, Mar. 19. The acquisitions come after Big Lots filed for bankruptcy in September 2024. The expansion will include Ocean State opening its first store in Delaware. "This is an exciting chapter for us," said Ocean State CEO and principal owner Marc Perlman. "Expanding into new markets has long been part of…
Stamford's Purdue Pharma Files New $7.4B Bankruptcy Plan: How Opioid Victims Could Benefit Stamford's Purdue Pharma Files New $7.4B Bankruptcy Plan: How Opioid Victims Could Benefit
Stamford's Purdue Pharma Files New $7.4B Bankruptcy Plan: How Opioid Victims Could Benefit Purdue Pharma has filed a new bankruptcy plan that will distribute more than $7.4 billion to compensate opioid epidemic victims and fund addiction treatment programs. The Stamford, Connecticut-based company submitted the plan to the US Bankruptcy Court for the Southern District of New York, Purdue said in a news release on Wednesday, Mar. 19. The reorganization increases the Sackler family's payout by $1 billion from a previous deal. The plan will dissolve Purdue and transfer its assets to a new public benefit company focused on opioid crisis abatement. The Sacklers, who have…
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say
Forever 21 Collapses: Bankruptcy Forces US Stores To Shut Down, Reports Say Forever 21 is going out of business in the US after struggling against online rivals Shein and Temu, according to reports. Forever 21 filed for bankruptcy protection for the second time in six years and has already started liquidation sales at more than 350 stores, CNBC reported. Its US operations are expected to shut down entirely unless a buyer steps in. Sparc Group, Forever 21's operator, had been searching for a buyer for months and contacted more than 200 potential bidders. Court filings show that 30 parties signed confidentiality agreements, but no viable deal materialized. Talks wit…
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs CVS is rolling out a new wave of smaller-format pharmacies in select communities nationwide as it tries to adapt to changes in the retail world. CVS plans to open at least a dozen of these compact pharmacies nationwide in 2025, a spokesperson confirmed to Daily Voice on Monday, Mar. 10. The pharmacy-only locations aim to improve access to medications, immunizations, and pharmacist-provided health care services. Each location will average less than 5,000 square feet, with a full-service pharmacy and a limited selection of over-the-counter products tailored to a community. "By taki…
US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study
US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study Layoffs are sweeping across the country at a pace not seen in years, hitting government workers, retail employees, and tech professionals the hardest, according to a new study. US employers announced 172,017 layoffs in February, the highest total since the height of the COVID-19 pandemic in July 2020, according to a report released by outplacement firm Challenger, Gray & Christmas on Thursday, Mar. 6. Last month's cuts were 245 percent higher than January and more than double the job losses from February 2024. February marked a dramatic spike in job losses, as businesses and federal age…
Spirit Adding First Nonstop Flights To Two Southern Cities From Newark Airport Spirit Adding First Nonstop Flights To Two Southern Cities From Newark Airport
Spirit Adding First Nonstop Flights To Two Southern Cities From Newark Airport New Jersey travelers will soon be able to fly nonstop to two new destinations in the South. Spirit Airlines will offer direct service from Newark Liberty International Airport (EWR) to Columbia Metropolitan Airport (CAE) and Chattanooga Metropolitan Airport (CHA). Spirit announced the flights in news releases on Wednesday, Mar. 5.  Nonstop flights to Chattanooga will begin on Wednesday, June 4, and service to Columbia will start the next day. The flights will take off four times a week and introductory fares start at $50 one way. In June, Spirit will also begi…
Joann Going Out of Business After 80+ Years, Closing All Stores Following Bankruptcy Auction Joann Going Out of Business After 80+ Years, Closing All Stores Following Bankruptcy Auction
Joann Going Out of Business After 80+ Years, Closing All Stores Following Bankruptcy Auction Joann will shut down all of its 800 locations, ending more than 80 years of selling fabrics and craft supplies. Joann announced the winning bidders at a bankruptcy auction plan to begin going-out-of-business sales at every store, the company said. At its height, the crafts chain had about 850 stores in every state but Hawaii. Financial services company GA Group, in partnership with the prepetition term loan agent, acquired Joann's assets at the auction. "Joann leadership, our board, advisors and legal partners made every possible effort to pursue a more favorable outcome that wou…
Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports
Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports Forever 21 may close at least 200 more stores and could shut down every location during a possible bankruptcy process, according to reports. Forever 21 is considering the closures and its US operator F21 OpCo. may declare bankruptcy as soon as March, Bloomberg News reported. This would be the fast-fashion chain's second bankruptcy filing in about six years. Unless a buyer acquires the remaining locations, the retailer could be forced to liquidate, shutting down its roughly 350 remaining stores. At its height, Forever 21 operated more than 500 US locations and at least 800 worldwid…
Luxury Watches & Lies: NY Real Estate Mogul Admits to $63M Investor Fraud Scheme Luxury Watches & Lies: NY Real Estate Mogul Admits to $63M Investor Fraud Scheme
Luxury Watches & Lies: NY Real Estate Mogul Admits to $63M Investor Fraud Scheme A New York real estate mogul formally confessed to masterminding a multi-million dollar investment fraud scheme. Elchonon Schwartz, 46, of New York City, pleaded guilty to wire fraud in a Georgia federal courtroom on Wednesday, Feb. 13, admitting that he swindled hundreds of investors through a crowdfunding platform meant for commercial real estate investments. Beginning in May 2022, Schwartz solicited funds for a large commercial real estate complex in Atlanta, Georgia, using the website Crowdstreet Marketplace. He raised around $54 million from 654 investors, prosecutors said. Later that…
JCPenney Closing Annapolis Mall Store As Part Of Nationwide Cuts, Reports Say JCPenney Closing Annapolis Mall Store As Part Of Nationwide Cuts, Reports Say
JCPenney Closing Annapolis Mall Store As Part Of Nationwide Cuts, Reports Say JCPenney is closing a Maryland department store as one of its latest changes amid restructuring and financial uncertainty. JCPenney will shut down at the Annapolis Mall in Maryland, a company spokesperson confirmed to the Daily Voice. The store is one of eight locations set to close nationwide by the middle of 2025. The company said it doesn't have plans to "significantly reduce" its store count. "Individual closures in specific markets happen from time to time due to expiring lease agreements, market changes or other factors," the spokesperson said. "We are grateful to our …
All Joann Stores In CT Closing Among 500 Locations Nationwide: See The List All Joann Stores In CT Closing Among 500 Locations Nationwide: See The List
All Joann Stores In CT Closing Among 500 Locations Nationwide: See The List Joann is set to close more than half of its stores nationwide, marking a major contraction for the arts and crafts retailer as it navigates bankruptcy for the second time in less than a year. The Ohio-based chain, which operates about 800 locations, will shutter around 500 stores, a company spokesperson confirmed to the Daily Voice. The move is part of a broader restructuring effort as the company seeks to stabilize its finances following a Chapter 11 bankruptcy filing in January. The spokesperson said the decision was "very difficult" but critical to Joann's future. "A careful a…
Frontier Proposes Another Airline Merger With Spirit: Here's How Spirit Responded Frontier Proposes Another Airline Merger With Spirit: Here's How Spirit Responded
Frontier Proposes Another Airline Merger With Spirit: Here's How Spirit Responded Frontier Airlines and Spirit Airlines have discussed a merger yet again, but Spirit rejected the bid in order to pursue a plan to exit bankruptcy on its own. Frontier confirmed the latest merger discussion in a news release on Wednesday, Jan. 29. Spirit also confirmed the talks in a regulatory filing on the same day. The deal first proposed on Tuesday, Jan. 7, offered $400 million in debt and a 19-percent stake in Frontier to Spirit shareholders. Frontier argued the merger would create a stronger low-cost airline while providing more value than Spirit's existing Chapter 11 ba…
The Ground Round Returning To MA With 'Nostalgic Charm' At Shrewsbury Restaurant The Ground Round Returning To MA With 'Nostalgic Charm' At Shrewsbury Restaurant
The Ground Round Returning To MA With 'Nostalgic Charm' At Shrewsbury Restaurant A beloved name in casual dining is returning to Massachusetts, many years after it was a staple of comfort food and family-friendly gatherings. The Ground Round is planning to open its first New England location in several years in Shrewsbury. It will be located at 271 Grafton Street, the former site of a Chinese-Japanese restaurant named Bauhinia. Owners Joe and Nachi Shea said they're thrilled to bring The Ground Round back to the Bay State. "Whether you're revisiting old favorites or discovering us for the first time, we're excited to welcome you with our signature d…