Articles about Bankruptcy

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Security outfit Root9B on the brink after default, may de-list

Colorado security startup Root9B is teetering on the edge, with its creditors sending over a foreclosure nastygram after it defaulted last week. As noted in an 8-K filing that landed late last week, “The events described above are likely to continue to put pressure on the Company’s stock price, and could render its securities …

Jaw-boned: Wearables biz Jawbone shuts down

Gizmo maker Jawbone is shutting down operations and will liquidate its assets. Although the San Francisco-based upstart has yet to issue a formal statement, a well-placed source said the peripherals slinger will shut up shop and flog off any remaining gear. We're told CEO Hosain Rahman will move on to a new medical startup …
Shaun Nichols, 7 Jul 2017

Bankrupt school ITT pleads 'don't let Microsoft wipe our cloud data!'

The estate of bankrupt US trade school ITT Technical Institutes is today asking a court to stop Microsoft from erasing its cloud data. In a filing [PDF] to the US District Bankruptcy Court of Southern Indiana, the caretakers of the defunct for-profit university seek an order to bar the Redmond giant from wiping the contents of …
Shaun Nichols, 22 May 2017
Toilet roll printed with fake US $100 bills

Troubled Avaya takes Extreme option, flogs network biz for $100m

Bankruptcy-beset Avaya is cashing out of its networking business for just $100m, with Extreme Networks the buyer. Burdened by private equity debts bought at 2007-era interest rates, Avaya received Chapter 11 bankruptcy protection in January this year. Trying to cut a debt load of more than $6bn, Avaya briefly tried to offload …
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RadioShack bankruptcy savior to file for, you guessed it, bankruptcy

The company that arose from RadioShack's 2015 bankruptcy saga could soon itself be filing for bankruptcy. General Wireless is reportedly on the brink of seeking protection from creditors and entering the liquidation process. The biz could not be reached for comment. The formal paperwork for the bankruptcy could be posted …
Shaun Nichols, 6 Mar 2017
Sorry we're closed

Australia's Dick finally drops off

Imagine a parallel universe in which Steve Jobs or Clive Sinclair decided the best way to bring their products to the world was a chain of retail stores, complete with a Colonel-Sanders-like icon of their very own faces to helm the brand. That's more or less what happened in Australia, where in the early 1970s a chap named …
Simon Sharwood, 17 Apr 2016
Toilet roll printed with fake US $100 bills

Smut-seeding Prenda Law ringleader must sell home to pay $2.5m debt

One of the key players in Prenda Law, a troll group that seeded smutty films onto file-sharing networks and then harassed the downloaders for payment, has been told he must sell his home and possessions to cover his creditors' bills. In 2013, the civil courts found that Paul Hansmeier and two associates had set up Prenda Law …
Iain Thomson, 5 Dec 2015
Cow skull

FTC to scavengers: Radio Shack corpse doesn't include customer data

The US Federal Trade Commission (FTC) has issued an official warning to the companies taking over the assets of North American electronics retailer Radio Shack — namely, don't touch customer data. "We understand that RadioShack’s customer information constitutes a potentially valuable asset," FTC Consumer Protection boss …
Shaun Nichols, 18 May 2015
RadioShack

YOUR DATA could be SOLD in RadioShack's bankruptcy auction

Customer data is being considered as an asset for sale as part of RadioShack's Chapter 11 bankruptcy auction. The auctions, which took place earlier this week, are set to receive either approval or rejection from a federal bankruptcy court on Thursday. Among the assets available are 250+ stores in Mexico, just under 1,000 …
Ship in trouble

Standard General bids to save RadioShack from oblivion

Historic retailer RadioShack, currently under Chapter 11 bankruptcy protection, will learn its fate today, as its assets go up for auction, although its options for survival look distinctly limited. A $145.5m bid from Standard General LP, a hedge fund which is also one of RadioShack’s lenders, could save 9,000 jobs and 1,723 …
Simon Rockman, 23 Mar 2015
US spectrum map

Ping-pong sueballs: Bankruptcy dogs LightSquared's chances

Stricken US mobe network LightSquared is wriggling for survival in Chapter 11 bankruptcy. The idea of Chapter 11 is to provide protection for a company so that it can trade through difficulties and hopefully get back to trading normally. The system was to use a combination of 4G (LTE) and satellite to deliver national high- …
Simon Rockman, 10 Mar 2015
Aereo antenna array

Scavengers pick bones of collapsed telly-spaff upstart Aereo

Erstwhile TV streamer Aereo has held the auction to sell off its remaining assets to help cover its debts. The results: not so good. The company was able to get just US$1.54m for the sale of its trademarks, patents, domains and customer lists. A trio of companies, including DVR-maker TiVo bought the assets. According to a …
Shaun Nichols, 27 Feb 2015
RadioShack

RadioShack lists 1,800 stores facing the axe across America

Bankrupt headphones and USB memory stick chain RadioShack has posted the complete list of 1,784 shops it hopes to close across America. The gadget flogger said these stores [PDF] are potentially set for closure. The threatened shops include high-profile spots in Market Street in San Francisco, New York City's Flatiron district …
Shaun Nichols, 10 Feb 2015
Broke - empty pockets

Bankrupt RadioShack to close up to 2,900 stores, share others with Sprint

RadioShack filed for bankruptcy protection on Thursday, in a long-expected move that will result in the struggling electronics retailer closing around half of its stores in the US and Canada. The firm is seeking protection under Chapter 11 of US bankruptcy law, which will allow it to continue operations as it attempts to …
RadioShack

Bankruptcy could see RadioShack close doors for good – report

Struggling electronics retailer RadioShack may not emerge from bankruptcy intact after all, sources claim. On Monday, Bloomberg reported that the cash-strapped firm may be preparing to cease all retail operations, citing anonymous sources familiar with the company's plans. Earlier reports suggested RadioShack was in talks to …
RadioShack

Spavined RadioShack to file for bankruptcy next month – report

Ailing electronics retailer RadioShack is teetering ever closer to insolvency, reports claim, with a potential bankruptcy filing to come as soon as next month. Although RadioShack has not said that it plans to file for bankruptcy, the Wall Street Journal reports that Salus Capital Partners has already offered it $500m in …
Neil McAllister, 16 Jan 2015
Pigeon crapping on statue

That's all folks! US TV streaming upstart Aereo files for bankrupcy

It's the end of the line for the TV streaming biz Aereo: it has filed for Chapter 11 bankruptcy protection and appointed a chief restructuring officer to extract some remaining value from its assets. "Our engineering team created the first cloud-based, individual antenna and DVR that enabled you to record and watch live …
Iain Thomson, 21 Nov 2014
Tim Cook

Apple: We're still GREAT pals with GT and we'd LOVE to team up again

Apple hasn't given up on scratch-resistant sapphire glass for future products and it might even continue to work with GT Advanced Technologies on the material despite its past difficulties with the company, according to documents released on Thursday. In papers [PDF] filed as part of GT's bankruptcy proceedings, GT agreed to " …
Neil McAllister, 23 Oct 2014

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