TAG RESULTS FOR: bankrupt

After years of rumors and months of procrastination, Blockbuster has finally filed for bankruptcy, effectively reducing their debt from $1 billion to $100 million. Blockbuster announced, via press release, a “pre-arranged” bankruptcy in order to “recapitalize” and “substantially reduce its indebtedness.” Unfortunately for most stock holders, your debt caused by Blockbuster is still your own. The Chapter 11 filing reads “Under the proposed plan, there would be no recovery by the holders of the Company’s outstanding subordinated debt, preferred stock or... Continue reading

MSNBC is reporting that Circuit City is done. Reports are saying that over 35,000 people will be out of a job by the time the entire company is liquidated. There’s not really any more information other than that and I’m not seeing this on other major news sites. Stay tuned if there’s mind-blowing information to be had. Otherwise, you heard it here (after MSNBC of course). Link

German bankruptcy administrators issued a statement today saying that they have given up finding buyers for the failed BenQ Mobile company in Germany, so what’s going to happen is that the company furnitures, pot plants and computers will go on eBay. Yes you heard that right, it’s eBay literally. Some of the assets will also be sold on the Insolvency’s website, with bargains starting at 1 euro. If you would like to pay your last tribute to the company, this... Continue reading