By Posted in Miscellaneous CasesFrom the Wall Street Journal, Six Flags, Inc., which has three parks in metro Atlanta (Six Flags, White Water and American Adventures), has filed a Chapter 11 Bankruptcy petition this morning in the District of Delaware. Click here for the company news release and here for an article that attaches the petition. From the WSJ article –… Continue Reading
By Posted in Miscellaneous CasesCrunch Fitness, which has a location on Piedmont Road in Buckhead, filed a Chapter 11 petition in New York today. From Bloomberg – Crunch Fitness, a gym operator with 73,000 members and clubs in six U.S. cities, filed for bankruptcy protection from creditors in New York, citing slowing membership and overpriced leases for some locations.… Continue Reading
By Posted in Miscellaneous CasesFrom Reuters, General Growth Properties, which owns Comberland, North Point, Perimeter and Southlake Malls in Metro Atlanta, field a Chapter 11 Bankruptcy petition in the Southern District of New York. General Growth Properties Inc, the second largest U.S. mall owner, filed for bankruptcy protection on Thursday in one of the biggest real estate failures in U.S.… Continue Reading
By Posted in Miscellaneous CasesSupermarket chain Bi-Lo filed for Chapter 11 bankruptcy relief in the United States Bankruptcy Court, District of South Carolina. According to its website, the chain has several stores in Georgia. From the Associated Press – Details of the credit agreement terms were not immediately available but the company said it has met all the loan’s… Continue Reading
By Posted in Miscellaneous Cases,News and CommentsSix Flags Theme Parks, which includes Six Flags Over Georgia, Six Flags White Water, and American Adventures parks in the Atlanta area, is experience significant financial difficulties and there is speculation that a Chapter 11 Bankruptcy filing might be in its future. From the Associated Press: Shares of Six Flags Inc. fell in premarket trading… Continue Reading
By Posted in Miscellaneous CasesAs mentioned in this post, Ritz Camera, owner of Wolf Camera, filed a Chapter 11 petition last month. Ritz also owns Boater’s World stores, with two locations in Georgia. According to the article, Ritz will liquidate Boater’s World Stores and close half of its 800 camera stores. Apparently they have not yet decided which camera… Continue Reading
By Posted in Miscellaneous CasesRitz Camera, the owner and operator of Boaters World and Wolf Camera, filed a Chapter 11 petition today in Delaware. Ritz bought Wolf in 2001 after Wolf filed a Chapter 11 in 2000. Wolf had previously purchased Fox Photo. Wolf has several stores in Atlanta, and Boaters World has two locations in Georgia. From Reuters: NEW YORK,… Continue Reading
By Posted in Miscellaneous CasesGeorgia based Peanut Corporation of America, which obviously is facing a long list of problems, filed a Chapter 7 Bankruptcy petition in the Western District of Virginia. From Reuters: NEW YORK (Reuters) – Peanut Corporation of America sought bankruptcy protection on Friday after a salmonella outbreak traced to one of its plants led to one of… Continue Reading
By Posted in Miscellaneous CasesS&K Famous Brands., Inc., doing business as S & K Menswear, filed a Chapter 11 petition today. The company has stores in Georgia and the Southeast. From Reuters: S & K Famous Brands Inc, which operates men’s clothing stores mostly in mid-Atlantic states and the Carolinas, filed for Chapter 11 bankruptcy protection on Monday,… Continue Reading
By Posted in Miscellaneous CasesSpectrum Brands, Inc., the Atlanta-based manufacturer of Ray-o-vac, Remington, Spectracide, Cutter, Repel and other well-known brands, has filed a Chapter 11 petition in the Western District of Texas. Click here for the company’s press release: ATLANTA–(BUSINESS WIRE)–Spectrum Brands (PINK SHEETS: SPCB – News) today announced that it has reached agreements with noteholders representing, in the aggregate,… Continue Reading
By Posted in Miscellaneous CasesDiscount Clothing Retailer Goody’s Family Clothing decided last week to liquidate and close its remaining stores, after emerging from Chapter 11 only a few months earlier. Now it has filed Chapter 11 again. From Reuters – Goody’s LLC, a privately held family apparel retailer that emerged from bankruptcy in October, has filed for Chapter 11 protection again, and… Continue Reading
By Posted in Miscellaneous CasesFrom Reuters: Nortel Networks, the maker of telephone equipment, filed for bankruptcy protection on Wednesday, a day before it was scheduled to make an interest payment of about $107 million. Nortel and a number of its affiliates filed for Chapter 11 bankruptcy protection in federal bankruptcy court in Delaware. “Based on this filing, the board of… Continue Reading
By Posted in Miscellaneous CasesShane Company, a jewelry retailer with four locations around Atlanta according to its website, filed a Chapter 11 petition in the U.S. Bankruptcy Court for the District of Colorado. Chapter 11 Case No. 09-10367. Hear the announcement from Tom Shane himself. From Reuters: Shane Co, a privately held jewellery retailer, filed for Chapter 11 bankruptcy protection… Continue Reading
By Posted in Miscellaneous CasesUpdate: KB Toys to close and quickly liquidate for the Christmas rush, according to a Court filing and this Wall Street Journal article: The company plans to quickly start going-out-of-business sales at hundreds of its stores, "in order to take advantage of the last two weeks of the holiday selling season," KB Toys said in a… Continue Reading
By Posted in Miscellaneous CasesFrom the Wall Street Journal – Tribune Co. filed for bankruptcy protection Monday, in a sign of worsening trouble for the newspaper industry. In recent days, as Chicago-based Tribune continued talks with lenders to restructure its debt, the newspaper-and-television concern hired investment bank Lazard Ltd. as its financial adviser and law firm Sidley Austin to… Continue Reading
By Posted in Miscellaneous Cases,News and CommentsAlan Judd at the Atlanta Journal has an article about Michael Vick’s spending in the time leading up to his imprisonment, including millions of dollars transferred just before his incarceration. This information was contained in pleadings filed in his Bankruptcy case. Click here for the article. Among the highlights from Alan’s article: The day he… Continue Reading
By Posted in Miscellaneous CasesTweeter Home Entertainment, the parent of HiFi Buys (which had several locations in Atlanta), first filed a Chapter 11 petition in June 2007 (click here). It was bought by an investment firm and operated as Tweeter Opco, LLC, but that entity filed another Chapter 11 in November 2008 (click here). This week, however, it abruptly… Continue Reading
By Posted in Miscellaneous CasesBally Total Fitness has filed Chapter 11 for the second time in a little over a year. The website lists eight clubs in Metro Atlanta. From Reuters: NEW YORK, Dec 3 (Reuters) – Bally Total Fitness Holding Corp, which operates 347 health clubs serving more than 3.1 million customers, filed for bankruptcy protection for the second… Continue Reading
By Posted in Miscellaneous CasesFrom the Atlanta Business Chronicle – Chicken processor Pilgrim’s Pride Corp., which in 2007 acquired Atlanta-based Gold Kist Inc., confirmed Monday it has filed a voluntary petition for Chapter 11 bankruptcy protection. The filing, which was made in the U.S. Bankruptcy Court for the Northern District of Texas, if approved, will enable the company to… Continue Reading
By Posted in Miscellaneous CasesAnother well-known business feels the crunch. Fine China and collectible manufacturer Lenox Group, Inc. filed a Chapter 11 petition in the Southern District of New York. From Yahoo (AP): The Eden Prairie, Minn., company will continue to conduct "business as usual," Chief Executive Marc Pfefferle said in a statement. Lenox was called Department 56 until… Continue Reading
By Posted in Miscellaneous CasesFrom the Detroit Free Press: BH S&B Holdings, an entity formed to buy bankrupt retailer Steve & Barry’s LLC out of bankruptcy for $163 million, sought court protection itself, citing the deteriorating U.S. economy. BH S&B Holdings, created by hedge funds and former owners of Steve & Barry’s, filed for bankruptcy protection today in Manhattan… Continue Reading
By Posted in Miscellaneous CasesUpdate September 2009 – Unfortunately, this story has taken an unfortunate turn, as the CEO of Land Resources, J. Robert Ward, was arrested for killing his wife. Click here for the story. Land Resource, LLC, and related entities filed Chapter 11 Petitions in the Middle District of Florida on October 30, 2008. See bottom of post for… Continue Reading
By Posted in Miscellaneous CasesFormer Atlanta Falcons Quarterback, and current resident of a federal prison, Michael Vick is selling his house in Sugarloaf in Gwinnett County. See the Deal Watch Blog for the report. The disclosure statement and plan of reorganization filed with the Bankruptcy Court also assume that creditors will be paid, at least in part, by Vick’s future earnings… Continue Reading
By Posted in Miscellaneous CasesIt is certainly not a surprise that Circuit City filed a Chapter 11 petition in the Eastern District of Virginia. See the press release here. Last week the company announced it was closing many stories, and pulling out of Atlanta entirely. According to this article, the company hired Skadden Arps a few weeks ago.… Continue Reading
