corporate bankruptcy

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.

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.

USDA moving ahead with reorganization plan

Hundreds of professional researchers at the US Department of Agriculture are waiting to hear where outside the Washington area their jobs will be relocated -- part of a drive by Secretary Sonny Perdue to cut costs in the federal bureaucracy that many workers also see as a way to disrupt climate research and other work their bosses disagree with.