by Associated Press Published: February 16,2011
Tags: bankruptcy, books, Borders
The two Colorado Springs Borders Books locations seem to be safe from the chopping block as the giant bookseller filed for bankruptcy protection today, saddled by crushing debt while trying to adapt to a rapidly changing industry. The 40-year-old company plans to close about 200 of its 642 stores over the next few weeks. All of the stores [...] [...]
by Jonathan Easley Published: November 5,2010
Tags: bankruptcy, banning lewis
The countdown has begun for Banning Lewis Ranch LLC, one in which it either reorders its finances and tries to get back to work or sells off what it can and dissolves away. In the wake of its Oct. 27 bankruptcy filing, the company has 120 days to file a reorganization plan that satisfies creditors who [...] [...]
by John Hazlehurst Published: May 3,2010
Tags: bankruptcy, Boulder Business County Report, Brown Media
Ohio-based Brown Media, which owns the Boulder County Business Report, filed for bankruptcy on Friday. The company also owns or has interests in nine other business publications, 15 dailies, and more than 30 weeklies, most based in Ohio. According to the Boulder County Business report, Brown purchased Boulder Business Information, owner of the Boulder County [...] [...]
by Scott Prater Published: February 4,2010
Tags: bankruptcy, Game Crazy, Hollywood Video, Movie Gallery
The Dothan, Ala.- based parent company of Hollywood Video stores has filed for Chapter 11 bankruptcy. The event marks the second time Movie Gallery has filed for bankruptcy protection in three years. Movie Gallery plans to shutter 760 of its 2,415 nationwide stores which include Hollywood Video, Movie Gallery and Game Crazy, but has not announced [...] [...]
by John Hazlehurst Published: September 1,2009
Tags: bankruptcy, Freedom Communications
Company reports more than $1 billion in debt Freedom Communications Inc., owner of more than 30 daily newspapers including The Gazette, filed for Chapter 11 bankruptcy protection in U. S. Bankruptcy Court in Wilmington, Del., this morning. According to Bloomberg News, the company said that it has assets of between $500 million and $1 billion, eclipsed by more [...] [...]
by John Hazlehurst Published: August 31,2009
The Wall Street Journal reported yesterday that Freedom Communications, parent company of the Colorado Springs Gazette and more than 100 other media properties, will file for bankruptcy this week. The WSJ said that the chain would be taken over by the banks that hold the company's debt and that present equity holders would be wiped out. [...]
by Staff Writer Published: August 26,2009
Tags: bankruptcy
The American Bankruptcy Institute says the number of U.S. businesses filing for bankruptcy in the first half of 2009 was up 64 percent compared to the same period last year. The total number of bankruptcies filed through June 30 was up by 36 percent over the first half of 2008. “The increase in filings through the first [...] [...]
by Rebecca Tonn Published: August 7,2009
Tags: bankruptcy, Foreclosure
When homeowners are confronted with impending foreclosure, they often will file for bankruptcy. The act of filing for bankruptcy causes an “automatic stay,” which stops creditors from taking action, thus preventing a foreclosure, said Michael Sousa, assistant professor at Denver University’s Sturm College of Law. Sousa said that if homeowners have unsuccessfully tried other means to ameliorate [...] [...]
by John Hazlehurst Published: July 16,2009
In an interview with the Orange County Register published earlier this week, Burl Osborne, the interim CEO of Freedom Communications, said that the company is in discussions with its bankers about "restructuring." Freedom, which owns dozens of media properties, including the Register and the Colorado Springs Gazette, is more than $700 million in debt. [...]
by Associated Press Published: March 31,2009
Tags: bankruptcy, general motors
DETROIT (AP) – General Motors Corp.’s new chief executive said Tuesday that more of the automaker’s plants could close and bankruptcy is “more probable” as GM works to meet new, tougher requirements for government aid.In his first news conference as CEO, Fritz Henderson said he expects the company would “need to take further measures” beyond [...] [...]
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