Mom-and-pop business bankruptcies hit record as debts rise
More than 2,200 people and small firms filed bankruptcy this year under the so-called Subchapter V rules, which make it cheaper and faster to win relief from creditors.
Bankruptcy
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Buca di Beppo files for bankruptcy, closes Indianapolis restaurant
Italian restaurant chain Buca di Beppo filed for Chapter 11 bankruptcy on Monday, days after closing 13 underperforming eateries nationally, including one of its three local locations.
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UPDATE: Express files for bankruptcy, announces store closures, possible sale
A consortium that includes Indianapolis-based Simon Property Group has offered a non-binding letter of intent to potentially purchase the majority of its stores and operations. Four Indiana stores are slated for closure, according to bankruptcy papers.
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Battery maker EnerDel files for Chapter 7 bankruptcy
The company’s bankruptcy filing comes less than a month after it shut down its Andersen plant in a decision that blindsided employees.
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Fishers-based tech firm Netfor files for bankruptcy
Netfor’s CEO said an ill-timed investment in office space created financial problems for the company, but that he expects “no impact” to employees and clients as Netfor works to restructure its finances.
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Articles
Uncertainty lingers for Jack’s Donuts franchisees
News of the corporate bankruptcy has led to questions for franchisees from their worried customers and employees over the past few weeks.
Jack’s Donuts seeks to sell corporate assets in bankruptcy
Jack’s Donuts, which filed for bankruptcy reorganization in late October, is now seeking court permission to sell off its corporate assets to a stalking horse bidder.
UPDATE: Jack’s Donuts businesses file for bankruptcy protection
Three related businesses operated by Jack’s Donuts owner and CEO Jack “Lee” Marcum III have filed Chapter 11 petitions, listing total liabilities of more than $20 million and assets of less than $1.6 million.
CVS Health subsidiary Omnicare files for bankruptcy protection
The filing comes two months after the long-term care business was ordered to pay $949 million when a federal court found it liable for filing fraudulent claims for some prescription drugs.
Claire’s, once a mall destination for tweens, files for bankruptcy
Claire’s has nine locations in the Indianapolis area, including mall stores in Castleton Square, Clay Terrace, the Shops at Perry Crossing, Greenwood Park Mall and Hamilton Town Center.
Indiana reaches consumer-protections agreement with 23andMe buyer
Among the conditions agreed to by the buyer is a promise not to transfer any user genetic data to a third party.
Job recruiting site CareerBuilder + Monster declares bankruptcy
Once the heavyweights of job-recruiting websites, CareerBuilder and Monster filed for Chapter 11 protection Tuesday, almost one year after merging.
Retailer At Home files bankruptcy, with lenders set to take over
The chain has more than 250 stores in the United States, including four stores in the Indianapolis area, that sell everything from patio furniture to picture frames and washable rugs.
Rising bankruptcy filings hit Indiana, nation
Indiana’s bankruptcy filings are climbing as consumers and businesses feel the economic pinch from housing costs, high credit card debt and student loans.
WeightWatchers files for bankruptcy protection to eliminate debt burden
The 62-year-old company, which has moved into the prescription drug weight loss business, hopes to emerge from bankruptcy within 45 days.
Publishers Clearing House, known for ‘Prize Patrol’ sweepstakes, files for bankruptcy
The marketing and sweepstakes company says it’s using the bankruptcy process to “finalize a shift away” from its legacy business of direct-mail, retail merchandise and magazine subscriptions.
Restaurant chain Hooters files for bankruptcy protection
The chain known for chicken wings and its skimpy “Hooters Girls” wait-staff outfits has two local restaurants.
Retailer Forever 21 plans liquidation sales after second bankruptcy
The retailer, which has minority ownership ties to Indianapolis-based Simon Property Group, has two stores in the Indianapolis area.
Joann plans to close all stores, cease business operations
Monday’s announcement comes less than two weeks after the retailer announced it would close more than two-thirds of its stores, including two in the Indianapolis area.
Big Lots puts more store leases up for sale
Bankrupt discount retailer Big Lots has added more than 200 stores to a nationwide list of locations that are likely to close, including a pair of stores in Indianapolis.
Bankrupt Spirit Air rebuffs new takeover offer from Frontier
Spirit Airlines Inc. rejected a new acquisition offer from the parent of Frontier Airlines but said it remains open to a long-discussed combination of the budget carriers.
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
The filing arrives two weeks after the trading of company shares was suspended by the New York Stock Exchange. Under Chapter 11 protection, The Container Store will continue to operate while it restructures.
Big Lots conducts going-out-of-business sales after sale of company falls through
According to the company’s website, all stores are closing and discounts of up to 50% are being offered on the entire assortment goods.
Spirit Airlines files for bankruptcy as financial losses pile up
The airline has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion in 2025 and 2026.