Bankruptcies across Japan in the first half fell to a 29-year low
The number of corporate bankruptcies in January-June fell 3.7 percent from a year earlier to 3,991, down for the 10th consecutive first-half period and hitting the lowest level in 29 years, according to Tokyo Shoko Research Ltd. Total liabilities left by the failed businesses came ...
Wracked by opioid scandal, drug maker Insys files for bankruptcy
American drug maker Insys announced on Monday it was filing for bankruptcy and will sell its assets as it faces legal and financial fallout from its role in the opioid crisis. The Arizona-based company last week agreed to pay $225 million to settle criminal and ...
Laundry-phobics' dreams crushed as Tokyo-based developer of Laundroid robot files for bankruptcy
When Seven Dreamers Laboratories Inc. unveiled its prototype laundry-folding robot in 2015, it generated a buzz, with people saying they couldn't wait to buy one if it ever went to market. But the AI-based tidying device dubbed Laundroid is apparently coming to an end before ...
The Alliance of American Football, the upstart league that abruptly folded midway through its first season, filed for bankruptcy after failing to secure a partnership with the NFL. Legendary Field Exhibitions LLC, the parent of the eight-team league, listed liabilities of $48.4 million and $11.4 ...
India's stricken Jet Airways scrubs international flights and grounds more planes
India's Jet Airways canceled several international flights on Thursday and grounded another 10 aircraft after failing to pay lessors, deepening the woes of the beleaguered carrier. "We have canceled all long-haul west-bound international flights from India from tonight until tomorrow (Friday) morning," a Jet Airways ...
Faced with massive suits over California wildfire damages, PG&E files for bankruptcy protection
Faced with potentially ruinous lawsuits over California's wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could drive up rates for customers of the U.S.'s biggest utility and reduce the size of any payouts fire victims receive. The Chapter ...
Historic U.K. music retailer HMV collapses in wake of digital surge
The music retailer HMV, which was launched by English composer Edward Elgar in 1921 and helped propel the Beatles to fame, collapsed into administration on Friday as consumers switch to digital streaming. His Master's Voice, which is known worldwide for its iconic logo showing a ...
USA Gymnastics said Wednesday it had filed for bankruptcy protection as the embattled governing body continues to grapple with the aftermath of the Larry Nassar abuse scandal. In a statement on the organization's website, USA Gymnastics said it had filed for Chapter 11 bankruptcy in ...
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 ...
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.
