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 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.
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.
In court filings, USA Gymnastics said it might not have the estimated $75 million to $150 million needed to settle lawsuits from dozens of claims from victims of Larry Nassar.
The embattled Indianapolis-based organization filed a Chapter 11 bankruptcy petition Wednesday as it attempts to reach settlements in the dozens of sex-abuse lawsuits it faces and to forestall its potential demise at the hands of the U.S. Olympic Committee.
Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears’ massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.
Sears Holdings Corp., the struggling U.S. retailer owned by hedge fund manager Eddie Lampert, is focused on a deal that would preserve stakeholders’ value in a court restructuring, according to a person with knowledge of the matter.
Mattress Firm’s initial round of closures will include at least one store in Indianapolis and two others elsewhere in Indiana.
Attorneys for the defendants have asked the court to discuss the case, arguing it falls far short of the standards needed to warrant a full-blown trial.
Without a big settlement, or a resounding victory at trial, victims in the fraud would be left with an underwhelming recovery—currently 11 cents on the dollar, based on distributions of $18 million in December 2015 and $5 million last October.
Among the closures will be the store in Circle Centre in downtown Indianapolis—an original tenant in the mall when it opened in 1995. The only other Brookstone store in Indiana is at Indianapolis International Airport.
The deals with former ITT CEO Kevin Modany and Chief Financial Officer Kevin Fitzpatrick were reached days before trial and include more than financial settlements.
A Delaware law firm is spearheading the case on a contingency-fee basis. Under the sliding scale, it would get 20 percent of a recovery up to $10 million, and 35 percent of a recovery topping $20 million.
A lawsuit filed by ITT Educational Services’ bankruptcy trustee seeks $250 million from the firm’s former CEO and board members, whom she alleges were disengaged as the business melted down.
The 70-year-old business, an institution in the local African-American community, is seeking reorganization after accumulating hundreds of thousands of dollars worth of tax and business debts.
Tens of millions of unsecured claims will go unpaid when the Indianapolis-based grocery chain completes its liquidation in bankruptcy court.