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Bankruptcy

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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…

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by Joe Lombardi
Business
Big Lots To Shut These New Jersey Stores: Closing Sales Under Way Big Lots To Shut These New Jersey Stores: Closing Sales Under Way
Big Lots To Shut These New Jersey Stores: Closing Sales Under Way Big Lots! has announced the closures of even more locations since filing for bankruptcy in September. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. Additional closures were approved this month in bankruptcy court.  New Jersey has 27 stores, and 13 of them are set to close with closing sales underway. They are: Cherry Hill, 949 Church Road Dover, 550 Mount Pleasant Avenue East Brunswick, 275 Route 18 Freehold, 220 Trotters Way Glassboro, 811 N Delsea Drive Jersey Ci…

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by Cecilia Levine
News
Dream Weddings Wrecked: Popular NJ Venue Files For Bankruptcy, Blames Lender Dream Weddings Wrecked: Popular NJ Venue Files For Bankruptcy, Blames Lender
Dream Weddings Wrecked: Popular NJ Venue Files For Bankruptcy, Blames Lender Erin Fowlie and Lindsey Nadolny fell in love with the Art Factory, to put it simply. The Matawan couple signed a contract back in March 2023 with owners David Garsia and his wife, Donata, and put down $14,000 upfront for their Oct. 18, 2024 wedding. "They said we had access to the premises at all times," said Fowlie, 33. "They said we were family, we were this, we were that." But earlier this month, the brides-to-be came across a news article saying that the popular Paterson wedding venue, located in a refurbished warehouse on Spruce Street, was going bankrupt. They showed Donata the…

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by Cecilia Levine
News
Coach USA Terminates 20 NJ Transit Lines In Filing For Bankruptcy, NJT 'Exploring Every Option' Coach USA Terminates 20 NJ Transit Lines In Filing For Bankruptcy, NJT 'Exploring Every Option'
Coach USA Terminates 20 NJ Transit Lines In Filing For Bankruptcy, NJT 'Exploring Every Option' The pressure is on for NJ Transit. The company was left high and dry when Coach USA announced it would be terminating its agreement with the major transportation company, halting service to 20 of its bus routes in Bergen, Hudson, and Passaic counties come Aug. 16. The decision to do so was made amid Coach USA filing for Chapter 11 bankruptcy. A spokesperson from NJ Transit said the company received written notice of Coach's intentions to abandon three of its five contracts in Bergen, Passaic, and Hudson counties "with a cessation of operation at the close of business" on Aug. 16. NJ Trans…

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by Cecilia Levine