(Bloomberg) — Hooters of America, the casual dining chain known for its chicken wings and skimpy server uniforms, has become the latest iconic restaurant brand to falter in the face of stubborn inflation and Americans’ fading interest in eating out. The Atlanta-based company filed for bankruptcy in Dallas on Monday, saying a “liquidity crunch” prevented … Read more
(Bloomberg) — Bankrupt genetic testing firm 23andMe Holding Co. won permission from a judge to try to sell information about customers’ medical and ancestry-related data, a trove that is considered the most valuable asset in the insolvency case — and has become a source of privacy and safety concerns amid the company’s collapse. Under the … Read more
(Bloomberg) — Plenty Unlimited Inc., a vertical farming business that’s drawn backing from Jeff Bezos, SoftBank Group Corp. and Walmart, has filed for bankruptcy with a lender-backed plan to either raise capital or sell the business. The company on Sunday sought court protection in Texas listing more than $100 million in assets and liabilities on … Read more
(Bloomberg) — An Indiana recycling plant that tapped municipal bond investors for capital six years ago has filed for bankruptcy after the facility was marred by design flaws and production sputtered. Brightmark Plastics Renewal LLC, which converts waste plastic into fuel, filed for Chapter 11 on Sunday, listing assets and liabilities between $100 million and … Read more
(Bloomberg) — Prospect Medical Holdings Inc. is looking to shutter several hospitals and outpatient facilities in Pennsylvania to stem its cash outflows, a move that employees said could “devastate” local residents. “There is no long term solution at this point,” William Curtin, an attorney for Prospect said at a Tuesday court hearing. The closures would … Read more
The casual dining chain Hooters of America is working with creditors on a plan to restructure the business through bankruptcy in the coming months, reported news agency Bloomberg. The company is working with law firm Ropes & Gray to file for bankruptcy, said the report. The bankruptcy court process is expected to begin in the … Read more