1 wrong move can bring ‘zombie’ debt back from the grave By Sean Pyles You’re being hounded. You thought that debt was gone for good, but collectors are closing in and demanding payment. You may be facing zombie debt. A zombie debt might be a dormant bill resurrected by debt collectors — or it could[…]
A man spent Saturday afternoon on 51st Street near Sheridan Road advertising the complete liquidation of Hancock Fabrics, a chain craft store whose parent company announced last week it is headed into the black hole of Chapter 11 bankruptcy. No closing date is set for the stores, which will shut down individually as they sell[…]
Financially strapped companies’ ranks are swelling. A Moody’s Investors Service tally of the least-creditworthy companies rose by 10 to 274 this month, pushing it nearer to April 2009’s record 291. The list comprises companies rated at least six notches into junk territory with a negative outlook–which suggests a further downgrade could come soon. The uptrend[…]
Fitness might be the new status symbol and athleisure clothing might be all the rage, but for one storied brand, the health and wellness boom hasn’t translated into a bottom-line boon. In fact, quite the opposite: citing a challenging retail environment, Sports Authority announced Wednesday that it has filed for bankruptcy protection and will be closing[…]
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A few days ago, the U.S. Supreme Court declined to review the Tetzlaff case. Many will interpret this decision as a nod to the status quo’s high difficulty in discharging student loans in bankruptcy. While I am disappointed with the high court’s decision not to decide, I found that all may not be lost. As[…]
Crude-oil prices plunged more than 5% on Monday to trade near $30 a barrel, making the specter of bankruptcy ever more likely for a significant chunk of the U.S. oil industry. Three major investment banks — Morgan Stanley MS, -4.18% , Goldman Sachs Group Inc. GS, -2.12% and Citigroup Inc. C, -1.81% — now expect[…]