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Bankruptcy filings in U.S. surge at fastest pace since 2009 as Bidenflation continues to ravage Americans, businesses

March 01, 2023 -

For the past year, the Biden administration and the Federal Reserve have been struggling to combat runaway inflation and the resulting wage-price spiral without causing a recession. However, based on the recent increase in bankruptcy filings, it seems they may soon have to admit they have failed, noted Zero Hedge on Wednesday.

A month ago, the outlet highlighted a concerning trend in the pace of large bankruptcy filings (i.e., those with over $50 million ...

Major Trump donor also backing RFK Jr.’s presidential run, FEC filings reveal

February 13, 2024 -

According to NTD TV, businessman Timothy Mellon gave more than $10 million to the American Values 2024 (AV2024) political action committee (PAC) between July and October 2023. That amount increased his total contribution up to about $15 million – more than half of the money the PAC took in during that year.

Mellon also gave $10 million to the Make America Great Again (MAGA) Inc. super-PAC between July and August 2023. Av2024 backs Kennedy's presidential run, while MAGA ...

FEC filings reveal beleaguered Liberty Safe’s parent company is a major donor to Democrats who push gun control

September 13, 2023 -

Charlie Kirk, the founder and CEO of the conservative educational non-profit organization Turning Point USA, shared a report that featured Federal Election Commission (FEC) filings on X, formerly known as Twitter. It indicated that Liberty's holding company Monomoy Capital Partners has donated hundreds of thousands of dollars to left-wingers.

"I pulled the FEC reports on the company and found approximately $400,000 over the last 10 cycles of max donations to Democrats," ...

Co-working facility giant WeWork files for BANKRUPTCY

November 10, 2023 -

CNBC reported that the company, whose headquarters is located in New York City, filed for Chapter 11 bankruptcy protection in a New Jersey federal court on Nov. 6. WeWork had entered into agreements with the vast majority of its secured note holders, and had expressed intent to trim "non-operational" leases.

In an initial filing, WeWork reported total debts of $18.65 billion against total assets of $15.06 billion – amounting to a $3.59 billion deficit. The company clarified, ...

Corporate America experiencing BANKRUPTCY BOOM as recession looms

May 25, 2023 - bankruptcy filings among all types of companies in U.S. District Courts, up from 12,200 filings during the same period last year. While this is still well below the more than 21,000 filings per quarter recorded before 2020, the upward trend is still seen as a serious cause for concern especially as recession signals blare from other parts of the economic and financial world.

Other notable companies that have filed for bankruptcy include catalogue retailer AmeriMark ...

Trucking firm granted $700 million U.S. bailout declares BANKRUPTCY

August 17, 2023 -

Despite negotiations that went on for months, disagreements between Yellow’s management and the International Brotherhood of Teamsters (Teamsters Union), a labor union in the U.S. and Canada, resulted in the former shutting down operations late in July.

Yellow announced on Aug. 6, Sunday, that it was seeking bankruptcy protection so it could wind down its business in an "orderly" manner.

Darren Hawkins, Yellow’s chief executive, issued a statement announcing that ...

EV COLLAPSE: Electric vehicle manufacturer Lordstown Motors files for bankruptcy

June 29, 2023 -

Lordstown stated that it will be looking for potential buyers to take over its assets, including the manufacturing of the company's lone commercially-available EV, the Lordstown Endurance pickup truck. According to its recent filings, Lordstown Motors just had $108.1 million in cash available at the end of March. During the first quarter of 2023, it posted a loss of $171.1 million. (Related: Ford to lay off 1,000 employees as focus on EVs costs the company BILLIONS.)

The ...

Rite Aid to close up to 500 stores in BANKRUPTCY proposal

September 25, 2023 -

If all goes as requested by the company, Rite Aid will shutter between 400 and 500 of its U.S. locations. The company will also either sell or let creditors take over its remaining operations, though no final decision has yet been made.

The Philadelphia-based pharmacy chain currently faces more than $3.3 billion in debt and more than 1,000 federal lawsuits claiming it oversupplied the country with deadly opioid pharmaceuticals.

Rite Aid currently operates more ...

DEBT SENTENCE: Bankruptcy haunts corporate America as interest rates soar following the end of easy money

June 13, 2023 -

According to S&P Global Market Intelligence data, the first two months of the year registered the highest total of bankruptcy filings since 2011: 57 in February and 54 in January. February's total has been the most in a single month since March 2021.

According to the stock market index tracker's May bankruptcy statistics, more than 50 companies filed for bankruptcy among publicly traded companies with at least $2 million in assets or liabilities and private companies ...

WeWork files for BANKRUPTCY, prepares to dump 40 NYC office tower leases

November 13, 2023 -

Ever since COVID killed the flexible office industry, WeWork has been spiraling downward.

"Dormant locations in New York dominate a list of nearly 70 leases the coworking giant intends to terminate," reported Bloomberg, citing court papers.

"The roughly 40 contracts at issue include space near Union Square and in Fulton Center, a retail and transit facility in downtown Manhattan."

All of these leases are considered "limited to no benefit" to the company ...

Ukraine proxy war & Gaza genocide fatally expose Western hypocrisy and moral bankruptcy

November 13, 2023 -

(Article republished from Strategic-Culture.su)

Not only is Western complicity in war crimes exposed but also what is on display to the whole world is the shocking double standards and hypocrisy of the Western leaders. These people are liars, psychopaths and criminals.

What we are witnessing is something profoundly historic: the seminal collapse of Western images of presumed democratic and moral authority.

All across the globe, huge public protests are ...

Parent company of left-wing news site Vice to file for BANKRUPTCY

May 03, 2023 -

Anonymous sources familiar with the Vice Media Group's financial straits confirmed to other media outlets that the company is currently in negotiations with potential buyers, but these talks reportedly bogged down because Vice Media executives are struggling to get a price of more than $1 billion, which would just be enough to pay off all of the company's debts. Unfortunately, such a hefty price tag is making the chance of a successful sale increasingly remote.

Should Vice ...

168-year-old Santa Barbara News-Press files for bankruptcy, fires all workers

July 26, 2023 -

This comes just months after the newspaper ceased all physical publication, becoming an online-only news publication in April. But its last digital edition was posted on Friday, July 22, following the revelation that owner Wendy McCaw had filed for bankruptcy. (Related: Birds of the same feather: Vice Media files for bankruptcy and sells off assets to left-wing billionaire George Soros.)

News-Press Managing Editor Dave Mason alerted staff about the closure on July 21 via ...

Germany’s economic backbone at breaking point as millions of family-owned companies face bankruptcy

a month ago -

Roughly three million family-run businesses have been reported to have seen critical investments in new technologies as unfeasible or not worth the trouble, due to stiff economic headwinds, elevated borrowing costs and a proliferation of red tape.

"The number of small and mid-sized German companies coming up for sale has been piling up for years," said Jens Krane, head of mergers and acquisitions at Commerzbank AG, which specializes in the type of businesses. "A combination ...

Another one bites the dust: Major car dealership files for bankruptcy, fires all employees

September 14, 2023 -

"The salesman that I was meeting with called me and told me, 'Hey, I have bad news. The company just went out of business. We're all fired, and there's no way we can help you anymore,'" Lopez shared. "They shuffled all the employees out of there with all their belongings and locked the door."

Lopez has already paid $500 as a down payment to take the car he was interested in off the market. He has struggled to contact customer service and is concerned that he will not ...

Remember Proterra, the electric bus company shilled by Biden? It just filed for BANKRUPTCY

August 14, 2023 -

Biden regime Energy Secretary Jennifer Granholm, who previously served on Proterra's board of directors, aggressively hyped the company at a time when she held more than $1 million worth of stock – this is known as market manipulation, by the way.

On March 30, 2017, a little over two months after Donald Trump was sworn in as America's 45th president, Proterra tweeted about Granholm's appointment, noting that she also previously served as governor in Michigan.

"Her ...

Major Burger King franchisee files for BANKRUPTCY as fast-food industry faces doom of “Bidenomics”

November 16, 2023 -

Premier Kings, which owns 172 Burger King locations in the two states, announced that it had filed for Chapter 11 bankruptcy protection in the Bankruptcy Court for the Northern District of Alabama. The franchisee's Oct. 26 filing came after the May 2022 death of owner Manraj "Patrick" Sidhu, whose Popeyes Louisiana Kitchen stores were put into bankruptcy earlier this year for the same reason.

The Montgomery, Alabama-based Premier Kings said operating losses continued ...

East Coast’s largest groundfish company files for bankruptcy, lays off workers with no severance pay

September 20, 2023 -

Blue Harvest Fisheries unexpectedly filed for Chapter 7 bankruptcy on September 8, meaning it will most likely have to close and liquidate all of its company assets. The food giant quietly made a decision to stop its fishing operations on Sept. 1 and has yet to make a public announcement. The "secretive" move left the industry regulators, fishermen and city officials in the dark as it abruptly grinds to a halt.

A lawyer who reviewed the company's court records told ...

Rite Aid forced to file for bankruptcy amid slumping sales, high debt and ongoing opioid lawsuits

October 17, 2023 -

Rite Aid is one of the largest pharmacy retailers in the United States. Court filings reveal that the company has been struggling over high debt, declining revenue, increased competition and the mounting costs over lawsuits regarding its sale of addictive opioid medications. (Related: Rite Aid to close up to 500 stores in BANKRUPTCY proposal.)

Founded in 1962, Rite Aid currently employs around 45,000 people at more than 2,000 retail stores in 17 states. It will remain ...

Doug Casey: Entitlements, excessive defense spending and high federal debt interest push U.S. to brink of bankruptcy

November 12, 2023 -

The U.S. government's budget is the biggest in the history of the world and is growing at an uncontrollable rate. In the latest Bloomberg Intelligence research, strategists wrote that there will be more increases in Treasury coupon auctions and T-bills outstanding moving forward. "Besides deficits of over $2 trillion in the foreseeable future, climbing maturities following the increase of issuance from March 2020 will also need to be refinanced," the authors said. Also, the ...