NEWSWORTHY
Sears prepares to file for bankruptcy in coming days: sources
Sears Holdings Corp. is preparing to file for Chapter 11 bankruptcy protection in the coming days following years of declining sales, sources said on Wednesday, casting doubt over the survival of what was once the world's largest retailer. The bankruptcy filing would end a standoff ...
Westmoreland, one of oldest U.S. coal companies, files for bankruptcy
One of the oldest coal companies in the U.S. filed for bankruptcy protection Tuesday to deal with more than $1.4 billion in debt amid declining demand for the fuel. Englewood, Colorado-based Westmoreland Coal Co. filed for voluntary Chapter 11 protection in U.S. Bankruptcy Court in ...
Food-seller Kefir goes bust after attracting thousands of investors
A Tokyo-based seller of yogurt, dried fruit and other food products went under Monday after attracting tens of thousands of investors by promising future returns if they paid to become "owners" of its products. Kefir Inc. said the Tokyo District Court has accepted an application ...
Five years after declaring bankruptcy, Detroit boasts rebirth — but at a cost
It has been five years since Detroit bottomed out after decades of decline, admitting in the largest U.S. municipal bankruptcy filing ever that the country's one-time industrial engine could no longer pay its bills. The turnaround since then has been remarkable, with major investments that ...
Defining the Heisei Era: Japan experiences a hangover
The Japan Times presents the second installment of a monthly 12-part series that looks back at the leading issues of the past three decades.
Head of failed travel agency Tellmeclub pleads guilty to fraud and offers apology
The president and a former employee of failed travel agency Tellmeclub, which offered budget overseas tours, pleaded guilty on Wednesday to defrauding two banks of about ¥550 million ($5 million) in loans by window-dressing earnings data. "(The allegations are) all correct. I'm very sorry," the ...
FirstEnergy's power plant unit files for bankruptcy after plan to scrap three nuclear sites
A subsidiary that runs FirstEnergy Corp.'s nuclear and coal-fired power plants has filed for bankruptcy after the utility said earlier that it planned to close its three nuclear plants in Ohio and Pennsylvania. The move announced by FirstEnergy Solutions late Saturday signals the parent company's ...
Weinstein Co. files for bankruptcy, ends all nondisclosure agreements in move seen squelching suits
U.S. film and TV studio The Weinstein Company, whose ex-Chairman Harvey Weinstein has been accused of sexual harassment and assault, filed for bankruptcy on Monday and said it was ending all non-disclosure agreements that may have silenced some women. The filing in U.S. Bankruptcy Court ...
The Weinstein Company looks to file for bankruptcy, putting any sexual abuse redress in doubt
The Weinstein Company said late on Sunday that the U.S. film studio, whose ex-chairman, Harvey Weinstein, has been accused of sexual harassment and assault, planned to file for bankruptcy in the coming days after talks to sell itself collapsed. Filing for bankruptcy protection creates more ...
13 automakers to provide up to $130 million for Takata's U.S. settlement
A group of 13 automakers will contribute as much as $130 million to compensate those injured by faulty Takata Corp. air bag inflators as part of a deal to resolve the Japanese company's bankruptcy, a U.S. plaintiffs' attorney said. The agreement clears the way for ...
Takata's U.S. unit settles with injured drivers to exit Chapter 11 bankruptcy
Takata Corp.'s U.S. unit has reached a settlement with representatives of those injured by lethally defective air bags, paving the way for the company to exit Chapter 11 bankruptcy and move forward with a reorganization plan, according to court documents. The agreement between the Japanese ...
Japan Life rental business, suspected of fraud, goes bust in blow to mostly senior victims
Japan Life Co., suspected of engaging in a fraudulent rental business using magnetic health care products, has gone bankrupt, dealing a blow to thousands of mostly elderly people who purchased its products for investment. Tokyo Shoko Research Ltd., a credit research agency, said Tuesday that ...
