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News Articles: bankruptcy

Johnson & Johnson<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/jj-stop-selling-talc-based-baby-powder-globally-2023-2022-08-11/"> </a>announced last year that it would suspend all talc baby powder sales worldwide.

Tagged as: 

  • Law

Appeals court clears the way for more lawsuits over Johnson's Baby Powder

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.

January 30, 2023
|
By:
  • Scott Horsley and
  • Brian Mann
As FTX collapsed in early November, Samuel Bankman-Fried handed over control the cryptocurrency exchange he founded to John J. Ray III, a corporate turnaround specialist.

Tagged as: 

  • Business

5 major revelations about the collapse of crypto giant FTX

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

November 23, 2022
|
By:
  • David Gura
Twitter headquarters is shown in San Francisco on Nov. 4, 2022.

Tagged as: 

  • Technology

Elon Musk says Twitter bankruptcy is possible, but is that likely?

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?

November 12, 2022
|
By:
  • Bobby Allyn
Revlon is filing for Chapter 11 bankruptcy amid heavy debt, competition from newer competitors and supply chain fluctuations.

Tagged as: 

  • Business

Revlon files for bankruptcy amid competition and supply chain stress

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.

June 16, 2022
|
By:
  • Jacqueline GaNun
Erica Cuellar, her husband and her daughter moved in with her father in his home early in the pandemic, after she lost her job. She and her husband were worried they wouldn't be able to afford the rent on their house in Houston with only one income. In July 2020, the whole family tested positive for the coronavirus.

Tagged as: 

  • Health

Why helping people pay rent can fight 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.

October 22, 2021
|
By:
  • Selena Simmons-Duffin
Signage for Purdue Pharma headquarters stands in downtown Stamford, April 2, 2019 in Stamford, Connecticut. Purdue Pharma, the maker of OxyContin, and its owners, the Sackler family, are facing hundreds of lawsuits across the country for the company's alleged role in the opioid epidemic that has killed more than 200,000 Americans over the past 20 years.

Tagged as: 

  • Law

As Purdue Pharma Bankruptcy Nears Approval, Family Members Write About The Human Toll

The Purdue Pharma bankruptcy process has focused on financial compensation to creditors, but court records include heartrending personal letters from families ravaged by Oxycontin.

August 09, 2021
|
By:
  • Brian Mann
Sylvia Falkner stands in front of her Berlin pub, Metzer Eck, which has been owned by four generations of the same family since 1913. She is one of thousands of small German business owners struggling to keep their businesses open in an extended pandemic lockdown.

Tagged as: 

  • World

Germany's Small Business Owners Fight To Survive Amid Fears Of A Wave Of Insolvency

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.

April 29, 2021
|
By:
  • Rob Schmitz
The National Rifle Association's annual meeting in 2019 in Indiana. The NRA filed for Chapter 11 bankruptcy Friday, saying it aims to reincorporate as a nonprofit in Texas and leave New York, where the state has filed a fraud suit against it.

Tagged as: 

  • National

NRA Files For Bankruptcy Amid Fraud Suit In New York

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.

January 15, 2021
|
By:
  • Dustin Jones
Chairs are stacked outside a closed Ruby Tuesday restaurant at Orlando Intercontinental Airport on May 24, 2020.

Tagged as: 

  • Business

It's Not Goodbye, But Not Good Either: Ruby Tuesday Declares Bankruptcy

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.

October 07, 2020
|
By:
  • Alina Selyukh
An employee works inside a Jos. A. Bank retail store in San Francisco. The parent company Tailored Brands earlier said it would close up to 500 stores and cut 20% of corporate jobs.

Tagged as: 

  • Business

Unsuitable For A Pandemic? Add Men's Wearhouse, Jos. A. Bank To Bankruptcy List

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.

August 03, 2020
|
By:
  • Alina Selyukh
A woman walks out of Lord & Taylor's flagship store in Manhattan in June 2018, before the location was closed and the building was sold in 2019.

Tagged as: 

  • Business

Lord & Taylor, Oldest U.S. Department Store, Files For Bankruptcy

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.

August 02, 2020
|
By:
  • Alina Selyukh
An Ann Taylor store in New York City in 2015. Ascena Retail Group, which owns Ann Taylor, Loft and Lane Bryant, has filed for bankruptcy.

Tagged as: 

  • Business

Another Bankruptcy At The Mall: Parent Company Of Ann Taylor, Loft Is Latest To Fail

Ascena Retail Group is the latest clothing seller to try a restructuring during the pandemic when demand has cratered. The firm, which also owns Lane Bryant and Justice, will close some stores.

July 23, 2020
|
By:
  • Alina Selyukh

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