bankruptcy

More than 9,300 stores closed in 2019

2019 was another bruising year for many American retailers, despite healthy consumers and a strong economy.

California governor rejects PG&E's plan

California Gov. Gavin Newsom has rejected the bankruptcy reorganization plan proposed by utility giant Pacific Gas and Electric, saying that the proposal would not result in a "company positioned to provide safe, reliable and affordable service to its customers."

California utility PG&E to pay $13.5B

California utility giant Pacific Gas and Electric has agreed to pay $13.5 billion to individuals affected by several recent fires in the state, the company announced Friday night.

Sprint may soon be a dead brand

Sprint is a storied American brand, but it's one that could cease to exist if its $26 billion merger with T-Mobile is approved.

California governor says state could take over PG&E

The state of California could take over Pacific Gas and Electric if the utility company does not pull itself out of bankruptcy by the middle of next year, California Governor Gavin Newsom said in a news conference Friday.

Bankrupt Forever 21 is closing 200 stores

As part of its restructuring after filing for bankruptcy last month, Forever 21 will close 200 stores, leaving the fast-fashion chain with a smaller footprint to help it emerge from Chapter 11.

Sears' future is still in doubt 1 year after bankruptcy filing

Sears filed for bankruptcy a year ago today. And while the company used the process to shed debt, get out of store leases it didn't want and dodge liquidation, the last 12 months have hardly been a success.

What the retail apocalypse means for the American economy

The retail apocalypse over the past several years has devastated America's department stores, chains and mom-and-pops. Stores are closing at record levels. The number of people working in retail is on the decline.

Purdue Pharma allowed bonus payout in bankruptcy case

The judge overseeing the bankruptcy case for opioid-maker Purdue Pharma issued an interim order late Wednesday allowing the company and its subsidiaries to continue paying its employees, former employees and retirees.

Purdue Pharma files for bankruptcy

Purdue Pharma has filed for bankruptcy as part of its plan to settle litigation with dozens of states and and other plaintiffs who say the company fueled the opioid crisis.