The crypto mogul Sam Bankman-Fried has been tried and convicted of orchestrating one of the largest financial frauds in history, but little has changed for people who lost billions when FTX collapsed.
The Chapter 11 bankruptcy, which was filed Sunday, comes just three years after Yellow received $700 million in pandemic-era loans from the federal government.
The fund was formed in response to allegations from about 82,500 men that they were molested as children while members of the organization. The Boy Scouts also announced new measures to prevent abuse.
CEO James Marcum said the COVID-19 pandemic has greatly impacted its finances. During that time, the company was still spending on rent on its brick and mortar stores and factories were shut down.
A U.S. appeals court has dismissed the bankruptcy case filed by a Johnson & Johnson spinoff company. Around 40,000 cancer patients have filed suit, alleging the powder was contaminated with asbestos.
At the first hearing in FTX's bankruptcy proceedings, lawyers confirmed that millions of dollars are stolen or missing, and revealed stunning details about the downfall of the once-mighty exchange
Twitter regularly loses money. But Elon Musk took on billions in debt to buy the company at a time when online advertising is slumping. Could bankruptcy be next?
Cosmetics giant Revlon has filed for Chapter 11 bankruptcy. It has struggled to keep up with competition from newer brands and tackle supply chain problems caused by the pandemic.
A family in Houston and a plumber in Maryland couldn't afford rent, which pushed them into crowded living quarters. During the COVID-19 pandemic, that common predicament has increased viral spread.
The Purdue Pharma bankruptcy process has focused on financial compensation to creditors, but court records include heartrending personal letters from families ravaged by Oxycontin.
Germany's pandemic lockdowns have pushed thousands of small businesses toward insolvency. With a government freeze on insolvency rules soon expiring, some economists worry about what may happen next.
The NRA aims to relocate to Texas, away from the "corrupt political ... environment" of New York. The state's attorney general says officials diverted millions of dollars to their personal expenses.
The chain does "not intend to reopen 185 of their restaurants that were closed during the pandemic," Ruby Tuesday's CEO wrote in a court filing.
The parent company Tailored Brands earlier said it would close up to 500 stores and cut 20% of corporate jobs. It's joined in pandemic bankruptcy by rival Brooks Brothers and a growing list of others.
The retailer was acquired in 2019 by online clothing-rental startup called Le Tote. It joins a cascade of bankruptcies by major apparel stores, triggered by the doldrums of the coronavirus pandemic.