Crypto-Mining Data Center Compute North Files for Bankruptcy, CEO Steps Down

Compute North, one of the largest operators of crypto-mining data centers, filed for bankruptcy and revealed that its CEO stepped down as the rout in cryptocurrency prices weighs on the industry. The company filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, according to a filing. Compute North in … Read more

This Beloved Pizza Chain Is Filing for Bankruptcy and Shuttering Locations

Restaurants continue to feel the economic crunch and sadly, the list of well-established restaurant chains that have since 2020 continues to grow. Most recently, a beloved Midwestern pizza chain joined the unfortunate bunch. Dynamic Restaurant Holdings, the parent company of Happy Joe’s, . Dynamic also operates the Florida-based coal-fired pizza chain Tony Sacco’s. As a … Read more

Judge Approves Independent Examiner in Crypto Lender Celsius’ Bankruptcy Case

A federal judge has granted a motion for the U.S. Trustee’s office to appoint an independent examiner to investigate crypto exchange Celsius Network’s financial mismanagement that led the firm to file for bankruptcy earlier this summer. U.S. bankruptcy Judge Martin Glenn that the scope of the independent examiner would include an examination of several areas, … Read more

Judge approves Boy Scouts of America bankruptcy exit, sexual abuse settlement

A bankruptcy judge in Delaware on Thursday the Boy Scouts of America’s $2.46 billion reorganization plan, opening the way for the youth organization to emerge from Chapter 11 bankruptcy and start who say they were sexually abused by scout leaders. The approval of the plan by Judge Laurie Selber Silverstein still needs sign-off from a … Read more

AMC CEO says retail investors saved company as Regal parent Cineworld files for bankruptcy

AMC () CEO Adam Aron is not worried about competitor Cineworld’s () bankruptcy announcement because, well, it has on its side. The executive called out the positive impact of retail investors — who call themselves “Apes” — who powered the stock during the COVID-19 pandemic. Aron emphasized that AMC is not in the same position … Read more

Allena Pharmaceuticals Shares Fall After Filing For Bankruptcy

, Allena Pharmaceuticals Inc (NASDAQ: ) filed for chapter 11 bankruptcy protection and terminated the employment of substantially all of its employees. In January, the company announced . The company terminated substantially all of its employees, including Louis Brenner, President and Chief Executive Officer of the Company, and Richard D. Katz, Chief Financial Officer. The company said it … Read more

Bed Bath & Beyond’s turnaround plan is ‘too little too late’ to avoid bankruptcy, expert says

() unveiled its turnaround strategy this week, but it likely won’t be enough to save the company, according to a restructuring expert. “I’ve been in this business for 35 years in restructuring and turnarounds, and…unfortunately, it’s just a little bit too little too late,” Macco CEO Drew McManigle told Iheart Finance Live (video above). “They … Read more

3M Bankruptcy Tactic Fails as Combat Earplug Suits Move to Trial

(Bloomberg) — 3M Co.’s plan to use controversial bankruptcy rules to shield itself from some 230,000 lawsuits over military earplugs looked like a relatively simple fix to a long-simmering problem that could cost it billions of dollars. Like most things that sound too good to be true, it was. Now it may be time for … Read more

3M Can’t Use Bankruptcy to Halt Lawsuits Over Combat Earplugs, Judge Rules

(Bloomberg) — 3M Co. lost its fight to block jury trials in more than 230,000 lawsuits accusing it of harming US soldiers. The company’s shares fell on the ruling. Most Read from Bloomberg US Bankruptcy Judge Jeffrey J. Graham refused to temporarily halt the lawsuits accusing 3M and its bankrupt subsidiary, Aearo Technologies, of selling … Read more

Cineworld considers bankruptcy as cinema struggles continue

LONDON (AP) — Conditions are dimming at many movie theaters around the world. Cineworld Group PLC, one of the industry’s biggest theater operators, confirmed Monday that it’s considering filing for Chapter 11 bankruptcy protection in the U.S., as it contends with billions of dollars in debt and more empty seats in front of its screens … Read more