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Chapter 11

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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
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
News
Neiman Marcus Markdown Store Among 17 Closing Across U.S. Neiman Marcus Markdown Store Among 17 Closing Across U.S.
Neiman Marcus Markdown Store Among 17 Closing Across U.S. Neiman Marcus has announced the closure of four department stores and 17 of its "Last Call" locations across the U.S. including one in Paramus. The luxury department store chain filed for bankruptcy in May. The Paramus store at Bergen Town Center, the 16 other markdown stores and the four department stores are expected to close by the fall of this year. The other "Last Call" locations closing are in New York, Florida, Washington, California, Texas, Georgia, Illinois, Louisiana, Maryland and Nevada. “As part of our Chapter 11 proceedings, we provided to the court a list of Neiman Marcus st…

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by Valerie Musson
Business
JCPenney Files For Bankruptcy JCPenney Files For Bankruptcy
JCPenney Files For Bankruptcy JCPenney has filed for bankruptcy, becoming the largest retailer to crumble during the coronavirus crisis. The retailer has 11 stores in New Jersey and is expected to announce which ones will close in the coming weeks. JCPenney hopes to come out of Chapter 11 "and this pandemic as a stronger retailer," company CEO Jill Soltau said. The Garden State Plaza location shuttered in March 2018. Click here for more from the New York Times.

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by Cecilia Levine
News
WATCH: Paul McCartney Rocks Jersey City Waterfront Restaurant WATCH: Paul McCartney Rocks Jersey City Waterfront Restaurant
Watch: Paul McCartney Rocks Jersey City Waterfront Restaurant Sir Paul McCartney had a packed house singing and dancing -- and recording -- at an invitation-only party on the Hudson River waterfront over the weekend. Wife Nancy Shevell, an Edison native, joined the gum-chewing, 77-year-old musical legend as he removed his jacket and launched the band into the Beatles' "I Saw Her Standing There" at the Hudson House in Jersey City Saturday night. The event was reportedly a farewell party for Shevell's family's Elizabeth-based New England Motor Freight company, which filed for Chapter 11 in U.S. Bankruptcy Court in Newark earlier this year. McCartney an…

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by Cecilia Levine