If other bidders emerge for the property, an auction will be held Jan. 22 at the New York City office of Celadon’s bankruptcy counsel, DLA Piper LLP.
UPDATE: Celadon ceasing operations, eliminating nearly 4,000 jobs
CEO Paul Svindland said challenges in the trucking industry, along with fallout from what prosecutors allege was a massive accounting fraud engineered by prior management, proved impossible to overcome.Read More
Wise says restaurant chain’s failure led to personal bankruptcy
Former Scotty’s Brewhouse owner Scott Wise and his wife, Amy, filed for Chapter 13 bankruptcy protection last week in U.S. Bankruptcy Court for the Southern District of Indiana.Read More
Drowning in debt, FullBeauty Brands to file Chapter 11
The online retailer of plus-size women’s apparel with a deep history in Indianapolis and nearly half its workers here is attempting to extricate itself from a debt load of $1.3 billion.Read More
Sen. Elizabeth Warren is promising to remake the nation’s consumer bankruptcy system if elected president, returning to her political roots while also potentially picking a fight with a top rival for the Democratic nomination, former Vice President Joe Biden.
Presidential candidate Sen. Elizabeth Warren and on Tuesday unveiled a plan she said would make the process of declaring bankruptcy easier and cheaper for many Americans with debts they can’t pay.
The company moved goods for many well-known companies, including Alcoa, General Electric, John Deere, Philip Morris, Procter & Gamble, Target and Walmart.
Fishers-based Aggressively Organic Inc., an agricultural technology company that focuses on alleviating food insecurity, announced plans in 2017 to hire 200 people by the end of 2021.
Dean Foods, America’s biggest milk processor, filed for bankruptcy Tuesday amid a decades-long drop-off in U.S. milk consumption blamed on changing trends and a growing variety of alternatives.
Indianapolis-based Simon Property Group counts Forever 21 as its sixth-largest mall tenant, excluding department stores, with 99 outlets covering 1.5 million square feet, as of March 3.
A bankruptcy filing would help the company shed unprofitable stores and recapitalize the business. The retailer has four Indianapolis-area stores.
The 15-year-old chain, which has stores in Carmel, Noblesville and Greenwood, plans to close all 261 of its locations after filing for Chapter 11 bankruptcy.
RBE Investments LLC, the company’s biggest secured creditor, made a nearly $5.8 million credit bid to purchase the seven-year-old company and its assets after a turnaround plan for the company failed.
Elements Financial, formerly the Eli Lilly Federal Credit Union, is among seven credit unions that collectively agreed to pay $7.5 million to settle a lawsuit brought by ITT Educational Services' bankruptcy trustee.
CNO is mired in lawsuits related to the hedge fund's collapse—both as a plaintiff and as a defendant—that likely will take years more to play out.
The chain's performance declined after founder Scott Wise sold it in December 2016, and in recent months it has closed four restaurants and announced plans to close a fifth.
Los Angeles-based Z Gallerie said it plans to close 17 of its 76 stores as part of the Chapter 11 reorganization.
The chain, which is preparing to file bankruptcy for the second time in two years, has more than 50 locations across Indiana.
SteadyServ Technologies LLC, a Fishers-based company identified as one of the most innovative startups on the planet just a few years ago, now is now struggling to survive.
Mayflower Communities of Dallas, owner of 271-unit Barrington complex, has filed for bankruptcy after missing three bond payments and falling into default.
The approval means roughly 425 stores and 45,000 jobs will be preserved, at least for now.
Debt-burdened FullBeauty Brands has a restructuring plan ready to go that would turn over ownership to its creditors. But a federal trustee wants to tap the brakes.
The parent of Scotty’s Brewhouse filed for Chapter 11 bankruptcy protection late Tuesday in Indianapolis. It plans to shut down four of its 17 locations, including two local restaurants.