Indoor farming players struggling to find profitability
Some businesses in the industry are continuing to bet big even as rivals such as AppHarvest wobble and fail.
Bankruptcy
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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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Retailer Tuesday Morning closing all stores, begins clearance sales
The discount home goods retailer has one remaining store in Indianapolis and another in Carmel that will soon be closing their doors.
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Bed Bath & Beyond begins 3-week countdown to possible bankruptcy
Cut off from direct access to its own cash and turning to third-party financing to convince some suppliers to ship merchandise, Bed Bath & Beyond is running low on options to dig itself out of a financial hole years in the making.
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Articles
Physician-staffing service files for bankruptcy reorganization
The company, which provides doctors to rural hospitals to staff their emergency rooms and other critical areas, listed liabilities of $18.5 million and assets of just $19,701.
Party City cleared to exit bankruptcy, avoiding fate of retail peers
As part of the Chapter 11 process, the retailer—which has a half-dozen area stores—closed more than 60 stores across the country, but was able to keep the vast majority of its more than 700 stores open.
Home goods retail chain with Indy-area store to begin liquidation
Christmas Tree Shops Inc. is expected to close all 82 of its stores after failing to save itself through bankruptcy.
Overstock to buy Bed Bath & Beyond’s intellectual property
The $21.5 million deal—which covers Bed Bath & Beyond’s brand name, business data and digital assets but excludes its brick-and-mortar stores—must still be approved by New Jersey’s bankruptcy court.
Bed Bath & Beyond files for bankruptcy protection, plans to close stores
The retailer has set a closing deadline for its stores, including those in Carmel, Noblesville, Greenwood and Bloomington, and announced it will stop accepting its ubiquitous coupons soon.
David’s Bridal files for bankruptcy for second time in five years
The company employs more than 11,000 workers and has about 300 stores across dozens of states, including three in central Indiana.
Boy Scouts’ $2.4 billion bankruptcy plan upheld by judge
The plan would let the organization keep operating while it compensates tens of thousands of men who say they were sexually abused as children while involved in Scouting.
Discount retailer Tuesday Morning files for bankruptcy again
The retailer emerged from its last bankruptcy in January 2021 after closing about 200 stores, cutting its employee head count and slashing debt.
Individual bankruptcy filings see steep increase in 2022, bucking overall trend
Overall, filings for bankruptcy protection continued to fall nationwide and in Indiana last year.
Bed Bath & Beyond plans share sale in bid to avoid bankruptcy
The retailer, which has been preparing for a Chapter 11 filing after lenders declared it in default last month, priced new convertible preferred securities and warrants, it said in a statement Tuesday, in a deal that will ultimately raise more than $1 billion.
Bed Bath & Beyond warns about bankruptcy as sales plummet
“There is substantial doubt about the company’s ability to continue as a going concern,” the retailer said in a statement.
FTX founder agrees to extradition to US, attorney says
Sam Bankman-Fried may be ready to come to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX following a chaotic court appearance in the Bahamas.
Party City restarts talks with creditors as cash pile dwindles
Party City’s debt load is unsustainable, according to S&P Global Ratings, which downgraded the company deeper into junk territory last month.
FTX says it owes more than $3 billion to creditors
The revelations, which came in a filing to U.S. Bankruptcy Court in Delaware late Saturday, offer a striking portrait of the sheer number of entities that had considerably invested in, loaned money to or otherwise engaged with the three-year-old company.
Exec who cleaned up Enron calls FTX collapse ‘unprecedented’
The new CEO of the collapsed cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said there was a “complete absence of trustworthy financial information.”
Cryptocurrency exchange FTX files for bankruptcy as CEO resigns
The Justice Department and two federal regulators have launched probes into FTX, looking into whether the collapsing cryptocurrency exchange had skirted rules on safeguarding consumer deposits and relationships with trading affiliates, according to four people familiar with the inquiries.
AP source: US authorities investigate crypto exchange FTX
The swift collapse of cryptocurrency exchange FTX sent more shockwaves through the crypto world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices.
Restaurateur Scott Wise, wife, file for bankruptcy
Scott Wise, founder of now-defunct Indianapolis-based restaurant chain Scotty’s Brewhouse, said his personal bankruptcy is related to financial issues from the chain’s collapse.
Judge approves $2.46B Boy Scouts reorganization plan
More than 80,000 men have filed claims saying they were abused as children by Boy Scouts troop leaders around the country.