Winn Dixie’s parent company, Southeastern Grocers, could be nearing bankruptcy proceedings. Citing sources familiar with ongoing debt negotiations, Grocery Headquarters reports Southeastern Grocers, which owns the Bi-Lo, Winn-Dixie and Harveys chains, is considering filing for Chapter 11 bankruptcy restructuring. The company has hired outside advisers to help as it seeks to refinance $1 billion in debt.
Tampa Bankruptcy Blog
The owner of an Embassy Suites in Louisville, Kentucky has filed for chapter 11 bankruptcy protection. According to reports: The hotel has four or more star ratings on websites including Expedia, TripAdvisor and Yelp. Through the bankruptcy proceeding, the 304-room hotel will be put up for sale to repay stakeholders at least some of their
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, 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 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
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
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
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
In the State of Florida there are 347 personal bankruptcies for every 100,000 people, 16th worst in the country. The source is worldatlas.com.
Let us not bankrupt our today’s by paying interest on the regrets of yesterday and by borrowing in advance the troubles of tomorrow. A bankruptcy quote by Ralph W. Sockman.