Tampa Bankruptcy Blog

City of Hartford Close to Bankruptcy

hartford connecticut bankruptcy

The City of Hartford, Connecticut is headed towards bankruptcy, according to a new report by the New York Times. According the the Times: The problems in Hartford are similar to some other cities across the United States that have sought relief through bankruptcy: its tax base and population have shrunk and its pension obligations and

IHeartMedia Close to Bankruptcy

iheartmedia bankruptcy

IHeartMedia, the online radio and media company is apparently close to bankruptcy after a big loss in the second quarter following a string of losses before that. According to mysanantonio : iHeartMedia Inc. lost $174 million in the second quarter as the radio, billboard and digital giant edged closer to bankruptcy, struggling under more than $20

Gymboree Files for Chapter 11 Bankruptcy

gymboree files for bankruptcy

Gymboree has filed for Chapter 11 bankruptcy.  The source is cbsnews.com. According to the children’s clothing retailer, as part of the restructuring they will be closing 350 stores. The company also owns Crazy 8 and Janie and Jack brand stores. The official company statement: The Gymboree management team is confident that this financial restructuring is

NFL Players and Bankruptcy

nfl players bankruptcy statistics

One in six NFL players file for bankruptcy.  The source is cbsnews.com. According to CBS News: Taken in total, almost 16 percent of the players studied declared bankruptcy during the first twelve years of retirement. The bankruptcies did not correlate with the amount of money made over a career or the length of time in

Bankruptcy Lottery Winners

bankruptcy by lottery winners

Nearly a third of all lottery winners declare bankruptcy.  The source is fortune.com. According to Fortune: …nearly a third of lottery winners declare bankruptcy—meaning they were worse off than before they became rich. Other studies show that lottery winners frequently become estranged from family and friends, and incur a greater incidence of depression, drug and

Bankruptcy and the Retail Sector

bankruptcy in the retail sector

In a sign of devastating times for the retail sector, fashion retailer Rue21 announced that they have filed for Chapter 11 bankruptcy reorganization. The company is closing approximately 400 stores and laying off an undisclosed number of employees. The retail industry faces stiff competition from digital commerce and changing consumer preferences. Rue21 is not the

Perseverance Quote

perseverance quote graphic

I am strong, because I’ve been weak.  I am fearless, because I’ve been afraid.  I am wise, because I’ve been foolish.  The author is unknown.