Mostly Cloudy 35°
Tag:

Chapter 11

Business
Spirit Airlines Slashes Jobs As It Charts Path Out Of Bankruptcy Spirit Airlines Slashes Jobs As It Charts Path Out Of Bankruptcy
Spirit Airlines Slashes Jobs As It Charts Path Out Of Bankruptcy Spirit Airlines is laying off about 200 employees as the company tries to survive amid bankruptcy proceedings. The budget carrier will eliminate the positions across various departments, a company spokesperson told Daily Voice on Thursday, Jan. 16. The move came as Spirit looks to emerge from Chapter 11 bankruptcy, which it filed for in November 2024. The layoffs, which follow recent pilot furloughs, aim to align the airline's staffing with its current fleet size and level of flying while achieving $80 million in annual cost reductions. "These decisions are never made lightly, and we are c…

SHARE

by Chris Spiker
Business
TGI Fridays Files For Bankruptcy Weeks After Sudden Closures Of At Least 12 Restaurants TGI Fridays Files For Bankruptcy Weeks After Sudden Closures Of At Least 12 Restaurants
TGI Fridays Files For Bankruptcy Weeks After Sudden Closures Of At Least 12 Restaurants Casual dining chain TGI Fridays has filed for bankruptcy several weeks after at least 12 of its restaurants suddenly closed. The company filed the Chapter 11 petition on Saturday, Nov. 2, in Texas, near its Dallas headquarters. Founded in New York City in 1965, TGI Fridays has 95 restaurants in the US, 39 of which the company owns and operates. The other 56 are independent franchises not involved in the bankruptcy petition. The company said that all those locations will remain open. According to the TGI Fridays website and other reports, the following locations are now listed as permanent…

SHARE

by Joe Lombardi
Business
LL Flooring To Close Three DMV Stores Amid Chapter 11 Bankruptcy Proceedings LL Flooring To Close Three DMV Stores Amid Chapter 11 Bankruptcy Proceedings
LL Flooring To Close Three DMV Stores Amid Chapter 11 Bankruptcy Proceedings LL Flooring, which filed for Chapter 11 bankruptcy protection, is set to close several stores in Maryland and Virginia amid its financial issues. The flooring company - once known as Lumber Liquidators - plans to shutter the doors of two locations in Maryland, and one in Virginia amid its massive reorganization process. In Maryland, stores in Edgewood (Harford County) and Lutherville (Baltimore County), while in Virginia, the Woodbridge (Prince William County) store is on the chopping block. According to CEO Charles Tyson, who wrote a letter to customers,  while they plan to close 94 …

SHARE

by Zak Failla