Toys “R” Us Files Chapter 11: Second Largest US Retail Bankruptcy In History

Toys “R” Us Files Chapter 11: Second Largest US Retail Bankruptcy In History:

Toys “R” Us Inc., the largest US toys retailer, filed for bankruptcy late on Monday night, as a result of a crushing post-LBO debt load and relentless competition from warehouse and online retailers. With assets of $6.9 billion, it’s the second-largest retail bankruptcy, trailing the filing in 2002 by Kmart, which had $14.6 billion in assets.

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It’s Official: Sears Canada Announces Bankruptcy; Fires 2,900

Sears Canada Announces Bankruptcy; Fires 2,900:

It’s official – the US ‘retail apocalypse’ has moved north as Sears Canada (and some of its subsidiaries) have applied to Ontario Superior Court of Justice for protection under the companies’ Creditors Arrangement Act (CCAA), in order to continue to restructure its business.

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Puerto Rico Files For Bankruptcy Protection In Largest Ever US Municipal Debt Restructuring

Puerto Rico Files For Bankruptcy Protection In Largest Ever US Municipal Debt Restructuring:

Puerto Rico will file for bankruptcy protection, Gov. Rosselló said on Wednesday, setting up a showdown with Wall Street firms owed billions of dollars in the largest-ever U.S. municipal debt restructuring.

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Why America’s First National Supermarket Chain Just Filed For Bankruptcy … Again

A&P closing

Why America’s First National Supermarket Chain Just Filed For Bankruptcy… Again (ZeroHedge, July 20, 2015):

Back in December 2010, we were “stunned” when we learned that in a what was a clear case of a supermarket chain unable to pass through costs to consumers, the Great Atlantic & Pacific Company (“Great Atlantic”, “A&P” or the “Debtors”), which in 1936 became the first national supermarket chain in the US, would file for bankruptcy adding that “it is ironic that instead of passing through costs supermarkets are instead opting out to default”. Although perhaps even back then it was clear to A&P that the capacity of US consumer to shoulder higher prices is far worse than what the mainstream media would lead everyone to believe.

Read moreWhy America’s First National Supermarket Chain Just Filed For Bankruptcy … Again

Colt’s Bankruptcy Isn’t Because Civilian Gun Sales Are Down

Colt’s Bankruptcy Isn’t Because Civilian Gun Sales Are Down (Government Slaves, June 18, 2015):

(Hognose) The media love the idea that the firearms market is in a state of collapse. This propaganda theme is being fed to them by Bloomberg-funded gun-ban groups, and by Bloomberg’s own propaganda arm, Bloomberg News, and, like any good propaganda campaign, it reinforces the presuppositions, biases, and slants of the intended targets (in this case, Acela Corridor newsmen) with a Narrative® that’s Too Good To Check™.

One writer who didn’t check his Narrative®, or much of anything else, was David Francis at Foreign Policy, the magazine/website that’s expert in strategy because it employs Beltway drones with degrees from The Right Schools. (Most of whom can only function overseas where Loud Slow English is understood).

Read moreColt’s Bankruptcy Isn’t Because Civilian Gun Sales Are Down

Record Low Baltic Dry Casualties Emerge: Third Dry-Bulk Shipper Files For Bankruptcy In Past 3 Weeks

Record Low Baltic Dry Casualties Emerge: Third Dry-Bulk Shipper Files For Bankruptcy In Past 3 Weeks (ZeroHedge, Feb 23, 2015):

The unintended consequences of a money-printed, credit-fueled, mal-investment-boom in commodities (prices – as opposed to physical demand per se) and the downstream signals that sent to any and all industries are starting to bite. The Baltic Dry Index has plunged once again to new record lows and the collapse of the non-financialized ‘clean’ indicator of the imbalances between global trade demand and freight transport supply has the real-world effects are starting to be felt, as Reuters reports the third dry-bulk shipper this month has filed for bankruptcy… in what shippers call “the worst market conditions since the ’80s.”

Spot the credit-based mal-investment boom

Commodities-Baltic-Dry-Index-Collapse

After 2 brief days of very marginal gains, The Baltic Dry Index dropped again…

Baltic-Dry-Index-Collapse

As Reuters reports,

A third dry cargo shipper has filed for bankruptcy this month following a collapse in freight rates to historic lows in what shippers call the worst market conditions since the 1980s.

Read moreRecord Low Baltic Dry Casualties Emerge: Third Dry-Bulk Shipper Files For Bankruptcy In Past 3 Weeks

RadioShack Files For Bankruptcy

Update:

RadioShack files for bankruptcy; Sprint to take over some stores (Reuters)


RadioShack Files For Bankruptcy (ZeroHedge, Feb 5, 2015):

As credit markets have been indicating for 15 months, 94-year-old consumer-electronics chain RadioShack has finally pulled the ripcord…

  • *RADIOSHACK FILES FOR BANKRUPTCY PROTECTION AS LOSSES MOUNT
  • *RADIOSHACK WILTS UNDER BIG-BOX, ONLINE COMPETITION

RadioShack lists $1.2bn in assets and $1.38bn in debt. Additionally, Bloomberg reports that a post-bankruptcy deal is being worked on with Sprint.

Read moreRadioShack Files For Bankruptcy

RECOVERY: The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming

The First Shale Casualty: WBH Energy Files For Bankruptcy; Many More Coming (ZeroHedge, Jan 7, 2014):

On Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come.

First Detroit, Now Flint Warns Bankruptcy ‘Train Is Headed For The Cliff’

First Detroit, Now Flint Warns Bankruptcy “Train Is Headed For The Cliff” (ZeroHedge, July 19, 2014):

Flint may be Michigan’s second city to plunge into bankruptcy unless retirees accept cuts in health benefits that threaten to unravel a balanced budget. As Crain’s Detroit reports, Emergency Manager Darnell Earley (Flint’s third emergency leader since it was placed under state control in 2011) warned “If we have no ability to mitigate the cost of retiree health care, that’s going to make it very difficult for the city to remain financially stable over the next few years.” As Eric Scorsone notes, “Flint’s at the forefront, but a lot of cities are on the same train, and that train is headed for the cliff.”

As Crains Detroit reports,

As Detroit draws worldwide attention for its record $18 billion bankruptcy, Flint demonstrates the plight of U.S. cities where unfunded post-retirement costs rival or exceed pension liabilities. In Michigan alone in 2011, municipalities had nearly $13 billion in health-care liabilities for retirees, compared with about $3 billion for pensions. Flint is among 17 cities and school districts under some form of state control.

Read moreFirst Detroit, Now Flint Warns Bankruptcy ‘Train Is Headed For The Cliff’