American Apparel Inc. has sought and filed for bankruptcy protection on Monday in Delaware amid a number of problems comprising mainly huge debts, workforce issues, diminishing sales and its continued legal battle with Dov Charney, the ousted founder of the company.
A year ago, Haggen rapidly expanded its reach into California and neighboring areas. Today, the grocer is struggling financially and is in-between a bankruptcy process that has pressured it to shutter several of its grocery stores.
Standard General LP's reduced buyout offer of $145.5 million is RadioShack Corp's RSHCQ.PK only hope of surviving bankruptcy and staving off liquidation, the Wall Street Journal reported, citing the hedge fund's lawyers.
Euro zone leaders will tell Greece on Thursday that time and patience are running out for its leftist-led government to implement agreed reforms to avert a looming cash crunch that could force it out of the single currency.
UBS AG (UBSN.VX) has agreed to pay $120 million to settle a lawsuit by investors who accused the Swiss bank of misleading them about the financial condition of Lehman Brothers Holdings Inc in connection with the sale of structured notes.