Tens of millions of unsecured claims will go unpaid when the Indianapolis-based grocery chain completes its liquidation in bankruptcy court.
Claire’s Stores Inc., the fashion accessories chain where legions of preteens got their ears pierced, is preparing to file for bankruptcy in the coming weeks, according to people with knowledge of the plans.
Toys “R” Us Inc., which has three Indianapolis-area stores, is expected to liquidate 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.
The comeback strategy for Bon-Ton Stores includes closing a dozen Carson’s stores, although Bon-Ton hasn’t specified locations. The only Carson’s in Indianapolis is the lone anchor for Circle Centre mall.
Tow Yard Brewing made the move to reorganize its assets before its current lease ends and the owner of the building seeks another tenant for the space.
The world’s largest toy chain is planning to close about 180 Toys “R” Us and Babies “R” Us stores nationally as part of a reorganization plan to emerge from its September bankruptcy, according to a court filing.
A group representing the unsecured creditors of HHGregg has filed suit against Andretti Autosport in an attempt to claw back nearly $1.5 million in sponsorship money the now-defunct retailer paid the racing team in the months leading up to its bankruptcy.
In a deal called “one of the most important” stories in the motorcycle industry this year, a company controlled by Indianapolis-based business-holding firm LDI Ltd. has filed for Chapter 11 bankruptcy after racking up about $440 million in debt.
Philadelphia-based PalmStar Media has bought National Lampoon Inc., a deal that severs the final ties between the company and a contingent of Indianapolis shareholders, including convicted fraudster Tim Durham.
Executives eligible for the additional pay, if certain benchmarks are hit through the company’s bankruptcy, include Kevin J. Kovacs, HHGregg’s chief financial officer and acting CEO.
The trustee charges that Sam Odle and fellow outside directors should have ousted CEO Kevin Modany—a move that likely would have been well-received by the U.S. Department of Education and ITT’s accrediting agency.
A small, little-known company purchased at auction the company’s intellectual property rights, besting a bid by a large retailer with a household name.
Retailer True Religion Brand Jeans filed for Chapter 11 bankruptcy protection Wednesday and requested permission from the federal bankruptcy judge to close 27 of its 140 stores.
The airline, which emerged from bankruptcy as a privately held company on April 30, said it’s strongly positioned to tackle the ongoing pilot shortage.