Corporate bankruptcy

A Hertz Car Rental is closed during he coronavirus pandemic on Wednesday, May 6, 2020 in Paramus, N.J. (AP Photo/Ted Shaffrey)
May 22, 2020 - 11:14 pm
Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business. The Estero, Florida-based company's lenders were unwilling to grant it another extension on its...
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FILE - This Jan. 14, 2019, file photo shows Pacific Gas & Electric vehicles parked at the PG&E Oakland Service Center in Oakland, Calif. A decision was announced Friday, May 1, 2020, that Pacific Gas & Electric Corp. will sweep out three quarters of its board of directors to start with a mostly clean slate when it emerges from a bankruptcy case triggered by deadly wildfires ignited in Northern California by the utility's neglected electrical grid. (AP Photo/Ben Margot, File)
May 21, 2020 - 4:09 pm
BERKELEY, Calif. (AP) — California power regulators unexpectedly delayed a key vote Thursday on Pacific Gas & Electric's plan for getting out of bankruptcy after saying one of the utility's most outspoken critics sent an improper email attacking the company's proposal to pay wildfire victims...
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FILE - In this Feb. 18, 2020, file photo, Boy Scouts of America uniforms are displayed in the retail store at the headquarters for the French Creek Council of the Boy Scouts of America in Summit Township, Pa. Nine sex-abuse lawsuits were filed Tuesday, May 19 2020, in upstate New York against three Boy Scout local councils, signaling an escalation of efforts to pressure councils nationwide to pay a big share of an eventual settlement in the Scouts’ bankruptcy proceedings. The lawsuits were filed shortly after an easing of coronavirus lockdown rules enabled courts in some parts of New York to resume the handling of civil cases. (Christopher Millette/Erie Times-News via AP, File)
May 19, 2020 - 1:13 pm
NEW YORK (AP) — Nine sex abuse lawsuits were filed Tuesday in New York against three Boy Scout local councils, signaling an escalation of efforts to pressure councils nationwide to pay a big share of an eventual settlement in the Scouts’ bankruptcy proceedings. The lawsuits were filed shortly after...
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FILE - In this May 8, 2020, file photo, a J.C. Penney store sits closed in Roseville, Mich. The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. Penney said late Friday, May 15, 2020, it will be closing some stores and will be disclosing details and timing in the next few weeks. (AP Photo/Paul Sancya, File)
May 15, 2020 - 8:57 pm
NEW YORK (AP) — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. As part of its reorganization, the 118-year-old company said late Friday it will be shuttering some stores...
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A combo of recent images and filed on Friday May 15, 2020 of pubs that are closed due to the coronavirus pandemic. Britain's 47,000 or so pubs were told to close their doors on March 20, three days before Prime Minister Boris Johnson announced the full lockdown. The pub holds a special place in British culture, unmatched anywhere else in the world. They are key building blocks of a shared identity and shared connections from the tiniest hamlet in cider country in southwest England, to the more whisky-focused havens in Scotland's Shetland Islands. (AP Photo/Matt Dunham)
May 15, 2020 - 8:27 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to national and global response, the work place and the spread of the virus. ________________________ TEUTONIC SHIFT: Germany — Europe's biggest economy —...
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FILE - In this March 17, 2020 file photo, aircraft from the Avianca airline sit parked at La Aurora airport in Guatemala City. Avianca’s Chief financial officer Adrian Neuhauser said the airline is asking various governments, including Colombia’s, for help in ensuring it has liquidity to operate during its Chapter 11 proceeding, which could last up to 18 months. (AP Photo/Moises Castillo, File)
May 11, 2020 - 6:57 pm
BOGOTA, Colombia (AP) — Latin American airline giant Avianca is hoping to sail into smoother skies after a Chapter 11 bankruptcy filing – but it will take more to keep the region’s second largest carrier afloat. Colombian Finance Minister Alberto Carrasquilla signaled Monday that a government loan...
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Leslie Musumecci checks a text while Emily Summerville rinses her hair Monday, May 11, 2020 at The Nook on 7th Street in Tuscaloosa, Ala. the first time since mid-March when personal contact businesses were shut down due to COVID-19 restrictions. Summerville owns The Nook with her husband. She said they had fielded many calls for appointments and were doing their best to accommodate those who had waited the longest to get them in first. (Gary Cosby Jr./Tuscaloosa News via AP)
May 11, 2020 - 6:55 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to national and global response, the work place and the spread of the virus. ________________________ EARNINGS SEASON: The damage from the pandemic is playing...
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Family members watch Carmen Antillon receives her Tupelo High School diploma from Tupelo High School 12th grade Assistant Principal L.V. McNeal during a graduation ceremony at Milam Elementary School, Wednesday, May 6, 2020, in Tupelo Miss. The school district divided up the graduation ceremony to five different locations over three days with no more than four guests in attendance. (Thomas Wells/The Northeast Mississippi Daily Journal via AP)
May 07, 2020 - 10:52 pm
Many governors across the U.S. are disregarding or creatively interpreting White House guidelines for safely easing restrictions and letting businesses reopen amid the coronavirus pandemic, an Associated Press analysis found. The AP determined that 17 states did not meet a key benchmark set by the...
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FILE - In this April 29, 2020 file photo, a man walks past a closed business in Shaker Heights, Ohio. Many people consider the Paycheck Protection Program that promised nearly $670 billion in forgivable loans to help companies rehire laid-off workers to already be a success because millions of businesses have gotten the money. But owners and business groups have said loans weren’t getting to companies most in need and it wasn’t arriving fast enough. (AP Photo/Tony Dejak, File)
May 07, 2020 - 4:52 pm
NEW YORK (AP) — The Trump administration has dispensed about $530 billion to millions of small businesses to cushion them from the sharp downturn induced by the coronavirus. The question is: how effective will the Paycheck Protection Program be? Some small business owners say the program’s low-cost...
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A closed Neiman Marcus store is seen at the Garden State Plaza mall in Paramus, N.J., Thursday, May 7, 2020. Neiman Marcus filed for Chapter 11 bankruptcy protection, sounding an ominous note for department stores during the pandemic. (AP Photo/Seth Wenig)
May 07, 2020 - 4:50 pm
NEW YORK (AP) — Neiman Marcus has filed for Chapter 11 bankruptcy protection, the first department store chain and second major retailer to be toppled by the coronavirus pandemic. The move by the 112-year-old storied luxury department store chain was announced Thursday and follows the bankruptcy...
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