Posts Tagged ‘bankruptcy court’

GM Wants to Default on Bad Assets; Form New Company With Good Assets

Saturday, February 14, 2009 20:47 7 Comments

GM is considering chapter 11 bankruptcy and formingĀ  new company.
WSJ reportsĀ  “”One plan includes a Chapter 11 filing that would assemble all of GM’s viable assets, including some U.S. brands and international operations, into a new company.”
The plan would allow the new company to keep the viable assets while liquidating the undesirable assets under the [...]

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KB Toys declares bankruptcy; Faces Liquidation

Thursday, December 11, 2008 15:25 20 Comments

The nations number 2 toy retailer, KB stores has declared bankruptcy and will close down it’s 277 stores citing a “sudden” drop in sales. The companies 11,000 employees will be left looking for work.
KB Stores was founded in 1922. The store began as a candy wholesaler and later grew to become one of the largest [...]

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