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“#Joffrey Ballet School, ex-boss in ugly twirling legal fight” In an about-face so swift it would make a ballerina’s head spin, the former boss of the famed Joffrey Ballet School is allegedly threatening to bankrupt the institution. Christopher D’Addario, who quietly resigned as executive director in March, temporarily shuttered the Greenwich Village school’s website Sept….
“#Pasta flies in battle to control Il Mulino chain after bankruptcy” The glamorous Il Mulino Italian restaurant empire might soon be fegato tritato — or chopped liver, as New Yorkers say. Il Mulino owner Jerry Katzoff sued his lenders on Friday accusing them of a plot to squeeze him out of the business — the…
“#Jeffrey Katzenberg’s video app Quibi is shutting down after six months” Quibi, the short-form video app founded by Hollywood mogul Jeffrey Katzenberg, is calling it quits after just six months, according to reports. The high-profile startup — which raised a whopping $1.75 billion for an April launch that coincided with the start of the COVID-19…
“#JC Penney sees bankruptcy protection exit by Christmas” JC Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens of thousands of jobs. The beleaguered, century-old retailer said Wednesday that it has filed a draft asset purchase agreement with the two biggest mall owners in the…
“#AMC Entertainment plans to sell up to 15M shares as 3Q sales fall” AMC Entertainment, the country’s largest movie theater chain, said Tuesday that it is looking to raise more cash as the coronavirus pandemic continues to hammer its business. The cinema chain, which plans to sell up to 15 million shares, said in an…
“#Coal baron reportedly seeks US aid to treat black lung disease” US coal baron Robert Murray, whose company Murray Energy filed for bankruptcy last year, has applied for federal benefits to treat his black lung disease after opposing more stringent coal dust regulations for years, according to a report by West Virginia public radio. Murray,…
“#Retail store closures break record amid COVID-19 crisis” American retailers have closed a record number of stores for good this year as the coronavirus pandemic upended the industry, a new report says. Chains including Starbucks, Macy’s and Office Depot have announced plans to shutter 10,226 stores so far in 2020 — a number that already…
“#Bankrupt gunmaker Remington Outdoor to be sold in pieces” Bankrupt gunmaker Remington Outdoor will split up its business and sell the pieces to seven different buyers following a bankruptcy auction, court records show. The biggest sale will go to Minnesota-based Vista Outdoor, which said it will pay $81.4 million for Remington’s brand and trademarks along…
“#Neiman Marcus CEO angers employees with mansion magazine article” The CEO of Neiman Marcus is being blasted for flaunting his wealth in the midst of a bankruptcy that led to job losses and pay cuts for rank-and-file workers, The Post has learned. Geoffroy van Raemdonck steered the luxury retailer out of bankruptcy on Friday —…
“#Neiman Marcus emerges from Chapter 11 bankruptcy amid COVID-19” Neiman Marcus said on Friday it has completed its Chapter 11 bankruptcy protection process, emerging from one of the highest-profile retail collapses during the COVID-19 pandemic. Its restructuring plan eliminated more than $4 billion of debt and $200 million of annual interest expense. The luxury department…