Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as U.S. consumers increasingly bypass its products for healthier or cheaper options. Del Monte has secured $912.5 million in debtor-in-possession financing that will allow it to operate normally as the sale progresses. “After a thorough evaluation…
BANGKOK (AP) — Hooters, the U.S.-based restaurant chain known for chicken wings and “Hooters Girls” skimpy wait-staff outfits, has filed for bankruptcy protection. HOA Restaurant Group filed the motion for Chapter 11 protection Monday in the North Texas Bankruptcy Court in Dallas. The company ran into financial woes as its debts mounted, but it says…
Listen to article Forever 21, the US-based fast-fashion retailer, has filed for Chapter 11 bankruptcy protection for the second time in six years. The move comes as the company grapples with declining mall traffic, rising costs, and growing competition from online retailers. In a statement released on Sunday, Forever 21 announced that it would begin liquidation sales…
(Reuters) -Spirit Airlines has filed for bankruptcy protection, it disclosed on Monday, after the pioneer of no-frills air travel in the U.S. struggled with a long run of quarterly losses and significant debt. The airline’s woes deepened after the collapse of its $3.8 billion planned merger with JetBlue Airways in January and the impact of…