Corporate bankruptcy

Shoppers walks past a Nordstrom window display at The Grove shopping center Wednesday, May 27, 2020, in Los Angeles. California moved to further relax its coronavirus restrictions and help the battered economy. Retail stores, including those at shopping malls, can open at 50% capacity. (AP Photo/Marcio Jose Sanchez)
May 28, 2020 - 5:12 pm
NEW YORK (AP) — Upscale department store retailer Nordstrom reported Thursday that its sales plunged nearly 40% in its fiscal first quarter when the pandemic forced a temporary shutdown of its stores. The Seattle-based company, however, said it has improved its financial flexibility by reducing...
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A Latam airplane sits parked at the Arturo Merino Benitez airport in Santiago, Chile, Tuesday, May 26, 2020. South America’s biggest carrier is seeking U.S. bankruptcy protection as it grapples with a sharp downturn in air travel sparked by the coronavirus pandemic. (AP Photo/Esteban Felix)
May 26, 2020 - 11:58 am
BANGKOK (AP) — Latam Airlines, South America’s biggest carrier, sought U.S. bankruptcy protection Tuesday as it grapples with a sharp downturn in air travel sparked by the coronavirus pandemic. The Chapter 11 bankruptcy filing underscores the severity of the financial challenges facing the travel...
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A Hertz Car Rental is closed during he coronavirus pandemic on Wednesday, May 6, 2020 in Paramus, N.J. (AP Photo/Ted Shaffrey)
May 22, 2020 - 10:14 pm
Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business. The Estero, Florida-based company's lenders were unwilling to grant it another extension on its...
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FILE - This Jan. 14, 2019, file photo shows Pacific Gas & Electric vehicles parked at the PG&E Oakland Service Center in Oakland, Calif. A decision was announced Friday, May 1, 2020, that Pacific Gas & Electric Corp. will sweep out three quarters of its board of directors to start with a mostly clean slate when it emerges from a bankruptcy case triggered by deadly wildfires ignited in Northern California by the utility's neglected electrical grid. (AP Photo/Ben Margot, File)
May 21, 2020 - 2:09 pm
BERKELEY, Calif. (AP) — California power regulators unexpectedly delayed a key vote on Pacific Gas & Electric's plan for getting out of bankruptcy Thursday after one of the utility's most outspoken critics sent an improper email attacking the company's proposal to pay wildfire victims...
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FILE - In this March 31, 2020 file photo, a woman pulls groceries from a cart to her vehicle outside of a Walmart store in Pearl, Miss. Walmart became a lifeline to millions of people as the coronavirus spread, and its profit and sales surged during the first quarter, topping almost all expectations. (AP Photo/Julio Cortez, File)
May 19, 2020 - 3:45 pm
NEW YORK (AP) — Walmart emerged as one of the few lifelines to millions of people as the coronavirus spread, leading to surging profit and sales for the world's largest retailer. Online sales in the U.S. jumped 74% for its fiscal first quarter that ended April 30, which captured the brunt of the...
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FILE - In this May 8, 2020, file photo, a J.C. Penney store sits closed in Roseville, Mich. The coronavirus pandemic has pushed troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. Penney said late Friday, May 15, 2020, it will be closing some stores and will be disclosing details and timing in the next few weeks. (AP Photo/Paul Sancya, File)
May 15, 2020 - 7:57 pm
NEW YORK (AP) — The coronavirus pandemic has pushed the storied but troubled department store chain J.C. Penney into Chapter 11 bankruptcy. It is the fourth major retailer to meet that fate. As part of its reorganization, the 118-year-old company said late Friday it will be shuttering some stores...
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A woman looks at signs at a store closed due to COVID-19 in Niles, Ill., Wednesday, May 13, 2020. (AP Photo/Nam Y. Huh)
May 14, 2020 - 4:04 pm
WASHINGTON (AP) — Nearly 3 million laid-off workers applied for U.S. unemployment benefits last week as the viral outbreak forced more companies to slash jobs even though most states have begun to let some businesses reopen. Roughly 36 million people have now sought jobless aid in just the two...
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A shop vendor wearing a face mask to help curb the spread of the coronavirus waits for customer outside headscarves shop in Kuala Lumpur, Malaysia, on Monday, May 11, 2020. Despite a sharp drop in infections, Malaysia's leader said restrictions to fight the coronavirus will be extended by four more weeks until June 9. The government has already let most businesses reopen with strict conditions to help revive a hard-hit economy. But mass gatherings are still barred, with schools, cinemas and houses of worship staying shut, group sports prohibited and interstate travel banned. (AP Photo/Vincent Thian)
May 11, 2020 - 3:23 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to national and global response, the work place and the spread of the virus. ________________________ EARNINGS SEASON: The damage from the pandemic is playing...
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Family members watch Carmen Antillon receives her Tupelo High School diploma from Tupelo High School 12th grade Assistant Principal L.V. McNeal during a graduation ceremony at Milam Elementary School, Wednesday, May 6, 2020, in Tupelo Miss. The school district divided up the graduation ceremony to five different locations over three days with no more than four guests in attendance. (Thomas Wells/The Northeast Mississippi Daily Journal via AP)
May 07, 2020 - 9:52 pm
Many governors across the U.S. are disregarding or creatively interpreting White House guidelines for safely easing restrictions and letting businesses reopen amid the coronavirus pandemic, an Associated Press analysis found. The AP determined that 17 states did not meet a key benchmark set by the...
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A closed Neiman Marcus store is seen at the Garden State Plaza mall in Paramus, N.J., Thursday, May 7, 2020. Neiman Marcus filed for Chapter 11 bankruptcy protection, sounding an ominous note for department stores during the pandemic. (AP Photo/Seth Wenig)
May 07, 2020 - 3:50 pm
NEW YORK (AP) — Neiman Marcus has filed for Chapter 11 bankruptcy protection, the first department store chain and second major retailer to be toppled by the coronavirus pandemic. The move by the 112-year-old storied luxury department store chain was announced Thursday and follows the bankruptcy...
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