Tag Archives: bankruptcy

Nation’s Largest Radio Chain Declares Bankruptcy

NPR reports: The “substantial doubt” that iHeartMedia’s corporate leaders expressed around the company’s likelihood of surviving another year, mentioned in its quarterly financial report last November, has been put to rest. iHeartMedia, the country’s largest radio broadcaster with around 850 stations and a leading outdoor advertising company, is filing for bankruptcy after spending years trying to manage its $20 billion ...

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Toys R Us Preps To Liquidate US Operations

Bloomberg reports: Toys “R” Us Inc. is making preparations for a liquidation of its bankrupt U.S. operations after so far failing to find a buyer or reach a debt restructuring deal with lenders, according to people familiar with the matter. While the situation is still fluid, a shutdown of the U.S. division has become increasingly likely in recent days, said ...

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Toys R Us Files For Chapter 11 Bankruptcy

The Washington Post reports: Toys “R” Us announced late Monday night that it filed for Chapter 11 bankruptcy, though the company’s leadership assured customers its 1,600 stores around the world would continue to operate normally. The company, once America’s powerhouse of toys, has been struggling for years even as the toy industry grew. Instead, it plans to restructure the $5 ...

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NY Times Bombshell: Trump May Not Have Owed Any Federal Tax For 18 Years Due To Business Failures

Whopper of a scoop from the New York Times: Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show. The 1995 tax records, never before ...

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Gawker Media Files For Bankruptcy

Homocon Peter Thiel is probably doing cartwheels in his mansion. Via the Hollywood Reporter: Gawker Media has filed for Chapter 11 bankruptcy after a Florida judge issued a $140 million final judgment in favor of Hulk Hogan in the invasion-of-privacy lawsuit over the posting of a sex tape. The online news organization founded in 2003 by Nick Denton which now ...

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MSNBC Posts Report On Harlem Hate Church’s Coming Bankruptcy Hearing & Ali Forney Center [VIDEO]

MSNBC today published the below video report on Harlem’s bankrupt hate church, which will back on court on April 21st when a new auction date might be set. Interviewed for the piece was Ali Forney Center founder Carl Siciliano, who tells us that he’ll be at the hearing with his attorneys. Ali Forney Center has raised $330,000 towards a down ...

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Harlem Hate Pastor: Fags Will Have Babies Through Their Anus Before I Let Them Have My Church [VIDEO]

“This is the lord’s house! This ain’t no damn bathhouse! It ain’t no fag house! And before you can ever own this property – hook or crook – men who are fags with testicles will be carrying babies in their testicles and giving birth to them through their anus. That’s how impossible it is for you to get this house. ...

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MINNESOTA: Archbishop John Nienstedt Resigns Over Molestation Scandal

“In order to give the Archdiocese a new beginning amidst the many challenges we face, I have submitted my resignation as Archbishop of Saint Paul and Minneapolis to our Holy Father, Pope Francis, and I have just received word that he has accepted it. The Catholic Church is not our Church, but Christ’s Church, and we are merely stewards for ...

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WISCONSIN: Court Rules Against Catholic Archdiocese In Bankruptcy Case

In 2013 it was revealed that while the Archbishop of Milwaukee, now-Cardinal Timothy Dolan sought the Vatican’s permission to move that money into a cemetery fund in order to shield assets from the victims of sexual abuse. The Archdiocese declared bankruptcy in 2011. UPDATE: Here’s the AP’s report. The 7th U.S. Circuit Court of Appeals in Chicago said Monday that ...

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Radio Shack Calls It Quits

Radio Shack is filing for bankruptcy but the brand won’t disappear entirely. Via Bloomberg: In the agreement, the Radio Shack brand would continue as a store-within-a-store concept at locations acquired by Sprint, said the person, who asked not to be identified because the talks are private. The retailer now expects to sell 1,500 to 2,400 stores to Sprint and Standard ...

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MINNEAPOLIS: Archdiocese Declares Bankruptcy, Freezing Molestation Suits

Via the Minneapolis-St. Paul Star-Tribune: The Archdiocese of St. Paul and Minneapolis filed for Chapter 11 bankruptcy Friday, becoming the 12th in the nation to say its treasury cannot withstand the unprecedented wave of lawsuits from clergy abuse victims. The move freezes lawsuits against the church, protecting the archdiocese from creditors while allowing it to develop a reorganization plan. It ...

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Trump: I Never Went Bankrupt

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From The Bankruptcy King

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Another Trump Bankruptcy

Trump Entertainment files for bankruptcy again: http://t.co/3Urfu5F6LK pic.twitter.com/UL0vZN7pKt— Reuters Business (@ReutersBiz) September 9, 2014

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FLORIDA: Orlando’s Parliament House Nightclub/Hotel Declares Bankruptcy

Orlando’s legendary/infamous Parliament House, where I made my first tentative steps into a gay bar on April 18th, 1976*, has declared bankruptcy. Via the Orlando Sentinel: Parliament House, a gay resort and entertainment complex, filed for Chapter 11 bankruptcy on Friday citing $15.5 million in debt. The 4.5-acre complex defaulted on loans during the recession in 2009 and has been ...

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MONTANA: Catholic Diocese Files For Bankruptcy Over Sex Abuse Suits

Montana’s Roman Catholic Diocese of Helena yesterday filed for bankruptcy protection as it settles molestation lawsuits filed on behalf of hundreds of children. “The settlement here will be as much help financially as we can offer to claimants,” the spokesman, Dan Bartleson, told NBCNews.com. “And the bankruptcy puts us in a place at the diocese where we can care for ...

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Put On Your Shocked Face

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Detroit Ruled Eligible For Bankruptcy, May Not Have To Pay Pension Obligations

This does not bode well for other cities. Via New York Times: The judge, Steven W. Rhodes, dealt a major blow to the widely held belief that state laws preserve public pensions, and his ruling is likely to resonate in Chicago, Los Angeles, Philadelphia and many other American cities where the rising cost of pensions has been crowding out spending ...

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NYC Opera Faces Bankruptcy

The New York City Opera’s now-running production of Anna Nicole may be its last. After the curtain falls following the last performance of “Anna Nicole” – an audacious chronicle of tabloid diva Anna Nicole Smith that opened the company’s 2013-14 season – the “People’s Opera” will have only a few days to raise millions of dollars. The 70-year-old company, which ...

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Sen. Rand Paul: Obama Will Bail Out Detroit Over My Dead Body

“There’s some good things that come out of bankruptcy. One is you get to start over. Bankruptcy lets you be forgiven of your debt. And you do so by getting new management, better management, and by getting rid of unwieldy contracts, contracts that give you where public employees are getting paid twice what private employees are and things come back ...

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