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United States

Jessica DiNapoli

Sears CEO Lampert offers new deals to avert bankruptcy

Sep 24 2018

Sears Holdings Corp Chief Executive Eddie Lampert, a major investor in the company, has proposed rescue deals to help the department store chain avoid bankruptcy as debt matures next month and it faces a cash crunch, according to a regulatory filing released on Monday.

Lehman Brothers workers share memories 10 years after the fall

Sep 21 2018

NEW YORK Ex-employees of Lehman Brothers Holdings Inc met at Irish pubs near their former office in Midtown Manhattan on Thursday night to reminisce 10 years after the bank's collapse, in gatherings with the atmosphere of high school reunions despite marking the largest failure of the financial crisis.

Neiman Marcus bondholder says company may be in default

Sep 21 2018

NEW YORK Distressed investor Marble Ridge Capital LP said in a letter to Neiman Marcus Group Ltd LLC that the luxury department store company may be in default on its debt after it moved its Mytheresa business into an entity belonging to the retailer's private equity owners.

Sears' same-store sales losses narrow but warns it may go out of business

Sep 13 2018

Sears Holdings Corp reported a smaller decline in quarterly same-store sales on Thursday, but warned again that there is doubt about the company's continued operation as it awaits approval to sell some of its businesses to its chief executive's hedge fund.

MOVES-PJ Solomon hires restructuring banker from Millstein & Co

Sep 05 2018

NEW YORK, Sept 5 Mark Hootnick is joining the debt advisory and restructuring practice of PJ Solomon from boutique Millstein & Co as a partner and managing director, according to a PJ Solomon internal memo seen by Reuters and confirmed by the investment bank.

California hospital chain with ties to billionaire files for bankruptcy

Aug 31 2018

NEW YORK/WILMINGTON, Del. Verity Health System of California Inc, a non-profit operator of six California hospitals managed by billionaire former surgeon Patrick Soon-Shiong's NantWorks LLC, filed for bankruptcy on Friday to help resolve a cash crunch while it seeks a buyer.

Papa John's criticizes founder for restaurant merger meeting: letter

Aug 30 2018

NEW YORK Papa John's International Inc has publicly criticized founder John Schnatter for attending a meeting in July about a potential deal with a competitor without its CEO, the latest salvo in a feud for control of the company.

Brand licensor Bluestar challenges Authentic Brands for Brookstone

Aug 29 2018

NEW YORK Brand licensor Bluestar Alliance LLC, managing women's fashion labels including bebe and Tahari, is challenging competitor Authentic Brands Group LLC for the intellectual property of bankrupt gadget and gift retailer Brookstone Company Inc with a bid of $40 million, according to papers filed late Tuesday.

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