The Ogden, Utah-based company Flying J emerged from a Chapter 11 reorganization last week, reports the Salt Lake Tribune, and one thing overlooked by everyone other than analysts says the paper is that, as a result of the bankruptcy proceedings, the company needed to let go of over 2,500 of its employees in both the [...]
Continue reading...Tuesday, March 30, 2010
Swoozie’s Inc., which filed for Chapter 11 bankruptcy protection earlier this month, announced it is closing all 43 of its stores and going out of business. Swoozie’s, which sells stationery, greeting cards, gift wrap and the like, has stores in 15 states and 350 employees. The Atlanta Business Chronicle reports the company had less than $10 [...]
Continue reading...Tuesday, November 24, 2009
Supermarket company Penn Traffic recently filed for Chapter 11 bankruptcy and announced today a plan to close 53 stores in New York, leaving over 4000 people without jobs. In addition to store employees, over 600 people who work at two warehouses operated by the company will be let go. The company filed for [...]
Continue reading...Friday, May 15, 2009
Bankrupt automaker General Motors has notified the owners of 1,100 US dealerships that their franchise agreements will not be renewed when they expire in 2010. GM wants to eliminate 2,600 dealerships, or 40% of their US sales locations, by December 2010. The Big Three automaker has not released a list of the dealerships affected. The notification letters [...]
Continue reading...Friday, April 24, 2009
Chemical manufacturer WR Grace has laid off an undisclosed number of employees firmwide. The company employs 6,500 globally, with about 1,000 at its headquarters in Columbia, Maryland. WR Grace declared Chapter 11 bankruptcy in April 2001. While Grace no longer makes asbestos-related products, they have faced more than 270,000 asbestos-related lawsuits. The company has a history of environmental [...]
Continue reading...Sunday, April 19, 2009
The Sun-Times Media Group, parent of the Chicago Sun-Times, laid off an undisclosed number of employees, trimming payroll by 15%. The layoffs affected non-union employees and management; Newspaper Guild members were safe. The Group, formerly Hollinger International, filed for Chapter 11 bankruptcy in March. Its newspapers include the Daily Southtown, Post-Tribune, Naperville Sun and Pioneer Press. Share [...]
Continue reading...Monday, April 13, 2009
Bankrupt Pilgrim’s Pride will close its Dalton, Georgia, chicken processing plant, laying off 280 employees. The Pittsburg, Texas-based company will shutter the Dalton facility within 60 days, and move production to Chattanooga, Tennessee. Contract growers who supply birds to the Dalton plant will supply the company’s Chattanooga plant or other facilities, within about 90 days. Pilgrim’s Pride, [...]
Continue reading...Friday, February 27, 2009
Pittsburg, Texas-based Pilgrim’s Pride is closing three chicken-processing plants. The company filed for Chapter 11 bankruptcy protection in December. The plant closings will impact 3,000 people, or 7% of Pilgrim’s Pride’s US work force. About 430 independent contract growers also will be impacted. Pilgrim’s Pride said it will reach out to affected staff members by offering them transition [...]
Continue reading...Friday, February 27, 2009
Eclipse Aviation Corporation, based in Albuquerque, New Mexico, will not contest a motion by senior secure creditors to turn the company’s bankruptcy proceeding into a Chapter 7 liquidation. Eclipse says it expects to suspend all business operations. The company furloughed all 800 of its employees on February 18, but at the time it was seen as [...]
Continue reading...Tuesday, February 24, 2009
Ritz Camera Centers Inc. filed for bankruptcy protection on Monday. The largest camera-store retail chain in the United States cited a worsening recession, as well as a consumer trend towards digital photography, as the reasons for filing Chapter 11 papers. The company, based in Beltsville, Maryland, has about 800 locations in more than 40 states. Their [...]
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Monday, July 12, 2010
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