Mt. Gox to seek bankruptcy protection
After shuttering its operations this week, Tokyo-based Bitcoin exchange Mt. Gox told reporters that it will be seeking bankruptcy protection, The Wall Street Journal reported.
Bankruptcy
Steward Health Care Puts All 31 Hospitals up for Sale to Address $9 Billion Debt After Filing for Bankruptcy
Steward Health Care has reportedly listed all its 31 hospitals in the United States for sale to pay off its $9 billion debt.
Rue21 Apparel Stores Set to Close in the Coming Weeks After Filing for Third Bankruptcy
Rue21 has announced that it will be shutting down all of its 540 locations in the coming weeks...
Clothing Retailer Express to Shutter Over 100 Outlets as It Declares Bankruptcy
US multi-brand clothes retailer Express Inc. filed for Chapter 11 bankruptcy and will close over 100 stores...
Florida Trust Fund Firm Loses Over $100 Million Intended for Disabled Children, Leaving Hundreds of Families Devastated
A Florida special needs non-profit went bankrupt, losing hundreds of families' trust fund worth more than $100 million intended for their disabled children...
Latest News
India's first startup accelerator The Morpheus to shut down
The Morpheus, the first private startup accelerator in India, is shutting down its operations this week after six years of conducting accelerator programs for startups in the country, because of the f
Private equity-backed LightSquared agree on restructuring plan with creditors to get out of bankruptcy
LightSquared Inc seemed to have marked a small milestone towards getting out of bankruptcy when on Friday, it told a state court that it has been working with its creditors regarding a plan to restruc
Bankruptcy sale of convicted jeweler Ralph O. Esmerian's art fetches $13M at Sotheby's
The sale of the art collection of convicted jeweler Ralph O. Esmerian was able to gather $13 million, $10.5 million of which will go to creditors, Bloomberg reported.
Creditors of XL-ID Solutions Inc. approve proposal
XL-ID Solutions Inc. announced that at the meeting of its creditors which took place on January 24, 2014, the statutory majority of creditors approved the proposal submitted by the Corporation pursuan
US-based car buying service CarWoo! closes down
Burlingame, California-based car buying service CarWoo! posted an announcement on its website saying the company will be shutting down, with some of its employees heading to rival TrueCar.
Gambling revenue at heart of Detroit's bankruptcy plan
For Detroit, the road in and out of U.S. bankruptcy court is paved with casino money.
Belgian firm Solvay offers to buy bankrupt Plextronics in $32.6M deal
Brussels, Belgium-based chemical firm Solvay SA offered to buy Pennsylvania, US-based conductive polymer maker Plextronics Inc in a $32.6-million deal amid a Chapter 11 filing by the latter.
Private equity- owned Dots to seek bankruptcy protection- report
Sources told The Wall Street Journal that private equity-owned discount retailer Dots LLC is readying itself to file for bankruptcy as the company struggles from the competition given by flash sites.
German Catholic church-owned Weltbild succumbs to online rivals
After struggling with increased book sales from online rival Amazon and others, German Catholic Church-owned publishing house Wetbild filed for insolvency and placed 6,000 jobs on the line, the Financ
