The Supreme Court ruled unanimously on Feb. 22 that a woman whose husband defrauded a man who bought their San Francisco home is financially responsible even though she did not participate in the fraudulent scheme. Kate Bartenwerfer, who filed for bankruptcy after the ill-fated real estate deal, appealed after the U.S. Court of Appeals for the 9th Circuit…
Wife Liable for Husband’s Fraud in Botched Real Estate Deal, Supreme Court Rules
Bed Bath & Beyond Leaving Canada, 1,400 Jobs Lost
Bed Bath & Beyond will be closing all of its stores in Canada as the retail chain has succumbed to years of operating at a net loss. The company is winding down its operations in all 54 Bed Bath & Beyond stores across the country, as well as 11 buybuy Baby stores. With these closures,…
Avaya Files for Chapter 11 Bankruptcy
Avaya Holdings Corp. has filed for Chapter 11 bankruptcy and secured a financing of $780 million as it restructures its business, the IT firm said on Tuesday. Avaya said upon completion of the restructuring process it will reduce its total debt by more than 75 percent, from nearly $3.4 billion to about $800 million. The…
Bed Bath & Beyond to Close More Stores
Bed Bath & Beyond said in a filing on Monday it will be closing 150 more stores as the struggling retailer cuts costs and works to turn around its beleaguered business. The retail chain has been reducing its brick-and-mortar footprint significantly over the past year. The latest round of closures builds on the previous shutdowns of…
Bed Bath & Beyond Staves Off Bankruptcy With $225 Million From Stock Sale
Bed Bath & Beyond Inc. said on Tuesday it raised about $225 million in an equity offering and may get another $800 million over the next 10 months, as the struggling retailer tries to avoid bankruptcy. Bed Bath, which first raised the prospect of bankruptcy early last month, said on Monday it planned to raise…
Bed Bath & Beyond on Brink of Chapter 11
Bed Bath & Beyond (BBBY) continues its slow decline into bankruptcy with the announcement of another round of 87 store closures as the struggling retailer attempts to stay afloat. The Feb. 1 announcement of 87 planned store closures follows a list of 150 Bed Bath and Beyond closures that was announced last August. The new…
Troubled Bed Bath & Beyond Shuttering 87 More Stores as Possible Bankruptcy Looms
January 31, 2023
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Troubled home goods retailer Bed Bath & Beyond is shutting an additional 87 stores as its financial woes continue, a spokesperson has confirmed. A company spokesperson told Nexstar: “This store fleet reduction expands the Company’s ongoing closure program of approximately 150 lower-producing Bed Bath & Beyond banner stores. We will update all stakeholders on our plans as they…
US Court Rejects J&J Bankruptcy Strategy for Thousands of Talc Lawsuits
A U.S. appeals court on Monday shot down Johnson & Johnson’s attempt to offload tens of thousands of lawsuits over its talc products into bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy with the potential to upend U.S. corporate liability law. J&J is among four major companies that have…
FTX Opposes New Bankruptcy Investigation as It Probes Bankman-Fried Connections
ZURICH/LONDON—FTX has objected to a U.S. Department of Justice request for an independent investigation into the once-prominent crypto exchange’s collapse, saying it is already conducting a wide-ranging probe that includes family members of FTX founder Sam Bankman-Fried. FTX said in a court filing in Wilmington, Delaware, late on Wednesday that the DOJ’s proposed review would…
Bed Bath & Beyond Defaults on Debt Payment Amid Bankruptcy Fears
Struggling retailer Bed Bath & Beyond warned that it has insufficient funds to pay off its debt and has defaulted on its credit line with lender JPMorgan, sparking fears of a possible near-future bankruptcy. In a filing (pdf) with the U.S. Securities and Exchange Commission (SEC) on Jan. 26, the retailer, headed by Sue Gove, said that it…
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