The Elephant Bar in Las Vegas is located in The District at Green Valley Ranch. Unfortunately, this prime location was not enough to keep the chain-restaurant above water, as it has made the decision to file for Chapter 11 Bankruptcy. How Did They Reach Bankruptcy? The Elephant Bar’s holding company, CM Ebar LLC, stated that …
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According to a lawsuit filed in Las Angeles County by 60 Chinese nationals who lent money to the SLS project in exchange for U.S. citizenship: the SLS has not turned a profit since opening in 2014 and is “on the verge of bankruptcy.” An Investment Deal The investors lent approximately $400 million to the owners …
Less than four months after filing for Chapter 11 Bankruptcy, the clothing chain True Religion has exited bankruptcy. A Solid Bankruptcy Reorganization Plan The retailer’s reorganization plan, approved in early October, called for a reduction in its loan terms from $471 million to $113 million. As well, the plan called for an extension of its …
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A mere two weeks after filing for bankruptcy, Toys ‘R’ Us debuted an augmented reality experience in hopes of helping to revive its stores and save its legacy. What is This New Augmented Reality? The augmented reality experience places computer-generated images on top of the actual world — or one’s surrounding environment — in a …
Last month, Goodwill Industries of Southern Nevada Inc. filed for Chapter 11 bankruptcy. The nonprofit organization made a public statement on their website sharing that the “recent expansion, the retail turndown, and increased operating costs to run our retail stores all have led us to make [this] difficult decision.” Goodwill Industries of Southern Nevada runs …
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According to court documents, long-time jeans maker, True Religion, had over $547 million worth of liabilities and only around $243 in assets at the time of filing for Chapter 11 Bankruptcy earlier this month. To fans of True Religion clothing: don’t start sobbing yet. The store may not be riding off into the sunset at …
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According to Chapter 11 Bankruptcy documents filed in federal bankruptcy court, J.A. Tiberti Construction Company’s $29 million arbitration award is the largest debt owed by Bishop Gorman’s landlord: Bishop Gorman Development Corp. The landlord refuses to take any responsibility for the debt-hole it has created and continues to blame the inability to pay construction costs …
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The once-popular children’s clothing chain, Gymboree, filed for Chapter 11 Bankruptcy this month in an attempt to lessen its debts. Representatives of the company shared that the retailer wishes to remain in business but will close up to 450 of its nearly 1,300 stores. The company’s goal is for a complete reorganization. This bankruptcy did …
If you are legally married to your spouse, the bankruptcy code allows both of you to file a joint bankruptcy case instead of filing two separate individual bankruptcy cases. A joint petition can be advantageous for many reasons. When a married couple files a joint petition for bankruptcy, they are only required to pay one …
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Debt Collectors are governed by the Fair Debt Collections Practices Act (FDCPA). This law is aimed at protecting consumers from debt collectors’ bad and/or illegal tactics. The FDCPA limits debt collectors in their attempts to collect. Unfortunately many debt collectors do not follow the FDCPA and use illegal tactics to collect. It is effective for …
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