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January 18, 2020
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New York Post

Payless emerges from bankruptcy with comeback plan to reopen stores

NYPost
New York Post – For more and to sign up click here Payless ShoeSource — once America’s most ubiquitous discount shoe retailer — is planning a comeback. The budget chain is emerging from bankruptcy protection on Thursday with plans to reopen some of the 2,100 stores that it had shuttered......
Reuters - Business

Pier 1 to shut up to nearly half of its stores, raises going concern doubts

Reuters
(Reuters) – Home decor and furniture retailer Pier 1 Imports Inc (PIR.N) said on Monday it plans to close up to almost half of its stores, cut jobs and warned about its ability to continue as a going concern in a tough retail environment. FILE PHOTO: The Pier 1 Imports......
CBS US News

Boston’s landmark “No Name” restaurant closes after 102 years

CBS News
Boston’s “No Name” restaurant, which opened along Fish Pier more than a century ago as a place for local fishermen to grab hot meals after long days at sea, has served its final clam chowder. The storied eatery declared bankruptcy this week after succumbing to a wave of rapid development......
CBS US News

PG&E settlement: Pacific Gas and Energy and wildfire victims rework $13.5 billion settlement rejected by California’s governor

CBS News
Pacific Gas & Electric reworked a $13.5 billion settlement with victims of deadly wildfires blamed on the utility to try to prevent it from unraveling after California Governor Gavin Newsom rejected the company’s financial rehabilitation plan. The revision discussed in a bankruptcy court hearing Tuesday removes a provision requiring Newsom......
Environment

A Coal Baron Funded Climate Denial as His Company Spiraled Into Bankruptcy

@BreaknNews
WASHINGTON — As his coal mining company hurtled into bankruptcy, Robert E. Murray, the former chief executive, paid himself $14 million, handed his successor a $4 million bonus and earmarked nearly $1 million for casting doubt on man-made climate change, new court filings show. The company, Murray Energy, filed for......
Environment

After Deal With Fire Victims, PG&E Bankruptcy Still Far From Settled

@BreaknNews
California’s largest utility is still in limbo. Two weeks ago Pacific Gas & Electric appeared to have cleared a big obstacle to resolving its bankruptcy by reaching a settlement with victims of wildfires started by the utility’s equipment. But late last week Gov. Gavin Newsom raised fresh objections to the......
Reuters - Business

Sacklers withdrew over $10 billion in a decade from Purdue Pharma: New York Times

Reuters
(Reuters) – The Sackler family – owners of Purdue Pharma – transferred more than $10 billion in a decade from the OxyContin maker to its trusts and holding companies, the New York Times reported on Monday, citing a new audit commissioned by the drugmaker. The audit, which was prepared by......
Reuters - Business

Sacklers withdrew over $10 billion in a decade from Purdue Pharma: NYT

Reuters
FILE PHOTO: Bottles of prescription painkiller OxyContin made by Purdue Pharma LP sit on a shelf at a local pharmacy in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey (Reuters) – The Sackler family – owners of Purdue Pharma – transferred more than $10 billion in a decade from the......
Reuters - Business

Bankrupt Philadelphia refinery expects second insurance payment

Reuters
FILE PHOTO: The Philadelphia Energy Solutions plant refinery is seen in Philadelphia, Pennsylvania, U.S., August 21, 2019. REUTERS/Mark Makela/File Photo (Reuters) – Insurers of Philadelphia Energy Solutions (PES) have indicated they will make a second payment of $15 million from its property policy in connection to the June fire and......
Reuters - Business

California power producer PG&E files amended reorganization plan

Reuters
FILE PHOTO: Employees of Pacific Gas & Electric (PG&E) work in the aftermath of the Camp Fire in Paradise, California, U.S., November 14, 2018. REUTERS/Terray Sylvester/File Photo (Reuters) – California’s power producer PG&E Corp (PCG.N) said late on Thursday that it has filed for an amended reorganization plan, adding that......
CBS US News

Trucking derails: nearly 800 companies failed in first three quarters

CBS News
The demise of trucking company Celadon Group is another leg in what’s proving to be a dismal drive for the industry this year. The largest ever trucking sector bankruptcy, Celadon abruptly shut down — leaving more than 3,000 drivers jobless and in many cases stranded with their rigs — amid......
CBS US News

Bankruptcy judge weighs $1.3 million bonus for CEO of opioid maker Purdue Pharma

CBS News
The judge overseeing the bankruptcy case of OxyContin maker Purdue Pharma will consider Wednesday whether the company’s CEO should get a bonus equal to half his $2.6 million salary. Attorneys general representing about half the country’s states say the company’s chief executive, Craig Landau, shouldn’t get a bonus, arguing in......
Reuters - Business

States fight bonus pay for CEO of OxyContin maker Purdue

Reuters
(Reuters) – The chief executive officer of OxyContin-maker Purdue Pharma LP should not collect a potential $1.3 million bonus when he has been accused of contributing to the opioid epidemic, a group of state attorneys general said in a court filing on Monday. FILE PHOTO: Bottles of prescription painkiller OxyContin......
Reuters - Business

PG&E says its distribution lines caused no deadly fires in 2019

Reuters
(Reuters) – California utility PG&E Corp (PCG.N) has determined there were no lives or structures lost in 2019 wildfires that may have been caused by its distribution lines, according to a Friday court filing. FILE PHOTO: An air tanker makes a retardant drop while battling the Kincade fire near Calistoga,......
Sports Illustrated - MMA

Arena Football League: Files for bankruptcy, ceases operations

Sports Illustrated
http://www.si.com/.image/c_limit%2Ccs_srgb%2Cfl_progressive%2Ch_1200%2Cq_auto:good%2Cw_1200/MTY4NjM1MjAzMDc2Njk1Njg3/arena-football-league-files-for-bankruptcy.jpg Associated Press Justin Cooper/CSM/Shutterstock The Arena Football League has filed for bankruptcy. The indoor league was reduced to six teams before it suspended operations in October. Now, it’s declaring Chapter 7 bankruptcy. “We simply weren’t able to raise the capital necessary to grow the league, resolve the substantial legacy......
Reuters - Business

OxyContin maker Purdue Pharma to pay states’ lawyers, urged to help victims

Reuters
(Reuters) – OxyContin maker Purdue Pharma LP got court approval on Tuesday to reimburse millions of dollars in legal fees for states that back its proposed $10 billion settlement of opioid lawsuits, but with a condition meant to help victims of the addiction crisis. FILE PHOTO: A pharmacist holds a......

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