The Santa Barbara News-Press, a newspaper with a rich history spanning over 150 years, has filed for bankruptcy under Chapter 7, according to court records released on Friday. The bankruptcy filing was made by its parent company, Ampersand Publishing. The managing editor of the newspaper, Dave Mason, notified the staff via email that the news … Read more
Foxo Technologies, a Minneapolis-based biotech startup, is facing a potential bankruptcy situation unless it can secure new financing quickly. The company made a filing with the U.S. Securities and Exchange Commission, stating that without the necessary financing, it will be unable to fund its operations. In addition to the risk of bankruptcy, Foxo is also … Read more
Peace Equipment LLC, a trucking company based in Edcouch, Texas, has filed for Chapter 11 bankruptcy protection, citing increased operating costs and reduced income in the trucking industry. The company also identified merchant cash advances as a contributing factor to its financial difficulties. The Chapter 11 petition was filed in the U.S. Bankruptcy Court for … Read more
Plastiq, a B2B payments company previously valued at $480 million, has filed for bankruptcy in a Delaware court. The move highlights the challenges faced by some standalone consumer-facing businesses, despite the current investor preference for B2B fintech companies. On the same day as the bankruptcy filing, Priority Technology Holdings announced its intention to acquire Plastiq, … Read more
Envision plans to equitize or cancel all its debt, excluding a revolving credit facility for working capital, amounting to approximately $5.6 billion.
Klaviyo Inc, a data and marketing automation firm based in Boston, has confidentially submitted paperwork to U.S. regulators for an upcoming initial public offering (IPO) in New York, as reported by individuals familiar with the matter. Although the specific terms of the IPO have not yet been disclosed, sources indicate that Klaviyo is considering raising … Read more
Vice Media Group, the digital media company, has filed for Chapter 11 bankruptcy after reaching an asset purchase agreement with a group of lenders. The lenders, which include Fortress Investment Group, Soros Fund Management, and Monroe Capital, have agreed to provide $225 million as a credit bid for “substantially all of the company’s assets,” according … Read more
Bed Bath & Beyond Inc.‘s liquidation strategy may reduce one source of U.S. retail profits in the short run as the market floods with liquidated home and baby products, but it leaves competitors with a long-term prize of about $5 billion in annual income. Target Corp. is likely to benefit once the deep discounts from … Read more
Bed Bath & Beyond emerged victorious from the 2008 recession. While competitors such as Sharper Image and Linens ‘n Things declared bankruptcy, Bed Bath & Beyond grew its company by acquiring additional retailers. Its home-goods emporiums full of towels and kitchen aids — all available at a discount with that Big Blue coupon — were … Read more
According to sources, 22 employees at David’s Bridal in Davenport are being laid off as a result of the company’s recent Chapter 11 bankruptcy filing. According to the Iowa Worker Adjustment and Retraining Act, employees at the Davenport store will be let off on June 12 and were notified on April 14. Additionally, David’s Bridal … Read more