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Some Jannie Richardson properties going to bankruptcy auction

Long-time Colorado Springs developer Jannie Richardson’s holdings will be sold in a bankruptcy auction March 12. Of the  21 properties around the country that belonged to the SRKO Family Limited Partnership and Richardson, seven parcels in Colorado Springs and Manitou Springs will sell. While the assets up for auction include a mix of commercial and… Continue Reading Some Jannie Richardson properties going to bankruptcy auction

A Denver-based financial planner has launched a free website for people who may find themselves facing bankruptcy. Kenneth Nierman, owner and principal for Adversity Financial Planners LLC, set up the Center for Bankruptcy Planning website. The site allows free access to short topic questions and informative videos. While bankruptcy laws are federal, and common to all states,… Continue Reading New bankruptcy site provides planning information

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Dippin’ Dots CEO steps down

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The CEO of novelty ice cream maker Dippin’ Dots has stepped down as part of a bankruptcy agreement that will infuse enough cash into the company to keep it afloat until it can be sold. The move on Tuesday came after Regions Bank refused to loan the company any more money until CEO Curt Jones… Continue Reading Dippin’ Dots CEO steps down

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Springs’ Borders bookstores to remain open

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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… Continue Reading Springs’ Borders bookstores to remain open

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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… Continue Reading Long road ahead for Banning Lewis after bankruptcy

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Brown Media files bankruptcy

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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… Continue Reading Brown Media files bankruptcy

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Movie Gallery files for 2nd bankruptcy

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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… Continue Reading Movie Gallery files for 2nd bankruptcy

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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… Continue Reading Freedom bankruptcy official

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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.

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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… Continue Reading Bankruptcy filings skyrocket

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