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“#Lenders mull plan to take Hertz public post-bankruptcy” There’s a battle brewing over Hertz that could determine whether the car rental company — and original “meme stock” — remains a publicly traded company, The Post has learned. Hertz on Tuesday proposed exiting bankruptcy by putting a group of new investors in the driver’s seat, including…
“#Alamo Drafthouse cinema chain files for bankruptcy” Dine-in cinema chain Alamo Drafthouse filed for bankruptcy Wednesday after taking a beating from the COVID-19 pandemic. The Texas-based company said it plans to restructure itself after facing a “liquidity crisis” last year as the coronavirus shuttered its 18 corporate-owned movie theaters, which feature cushy seats and a…
“#Century 21 is plotting a comeback in the US and NYC” Century 21 is stitching together a comeback bid. The 60-year-old retailer — whose lower Manhattan flagship famously survived the 9/11 terrorist attacks, only to be shuttered last fall as the coronavirus forced the company into bankruptcy — is plotting a return to its hometown…
“#Citigroup can’t recoup $500M paid to Revlon lenders: judge” Oops! Can we get that $900 million back? A federal judge on Tuesday refused to let Citigroup claw back the millions it says it accidentally paid lenders of cosmetic seller Revlon last August tied to a loan due in 2023. Despite calling the nearly $1 billion gaffe…
“#Century 21 to reopen in South Korea later this year” This fall, price-conscious fashionistas once again will be able to get their Century 21 fix — in South Korea. The iconic Big Apple department store — a mecca for bargain hunters until it went bankrupt in September and liquidated its 13 stores in New York,…
“#Why the b-word—bankruptcy—popped up in the Newfoundland election campaign” Nearly 11 months ago, then-premier Dwight Ball of Newfoundland and Labrador wrote a letter to Prime Minister Justin Trudeau explaining that his province’s debt-to-GDP ratio, already the worst in the country, was widening further, and the province’s financial crisis needed urgent attention. It couldn’t secure any…
“#AMC avoids bankruptcy after raising over $900 million” AMC Entertainment, the world’s largest cinema chain, said Monday that it will avoid bankruptcy after raising more than $900 million in rescue funding since December. Shares of AMC surged 38 percent in early-day trades after the company’s chief executive Adam Aron unveiled a new European financing deal…
“#Sharks’ Evander Kane files for bankruptcy” San Jose Sharks forward Evander Kane filed for bankruptcy, according to multiple reports, two years after signing a seven-year, $49 million contract. Per The Athletic, the 29-year-old’s Chapter 7 filing list liabilities of $26.8 million. It also lists payment of $1.5 million to The Cosmopolitan of Las Vegas for…
“#AMC getting closer to avoiding bankruptcy until summer” AMC Entertainment, America’s biggest movie chain, is getting ever closer to its goal of raising enough money by the end of January to stave off bankruptcy until at least the summer, The Post has learned CEO Adam Aron has told Wall Street he aims to raise $750…
“#JCPenney starts search for new CEO as Jill Soltau exits” JCPenney said on Wednesday new owners Simon Property Group and Brookfield Asset Management have begun a search for a new chief executive officer to replace Jill Soltau. Soltau, who joined the struggling retailer about two years ago, will leave the company on Dec. 31. Simon’s chief…