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Chapter 11 bankruptcy

Business
Rite Aid To Close 12 New Jersey Stores After Filing For Bankruptcy Rite Aid To Close 12 New Jersey Stores After Filing For Bankruptcy
Rite Aid To Close 12 New Jersey Stores After Filing For Bankruptcy Rite Aid, the pharmacy giant that filed for bankruptcy on Sunday, Oct. 15, plans to close 154 underperforming stores nationwide, according to a new filing.  A dozen of the stores closing are located in New Jersey. They are: 431 Haledon Avenue in Haledon 35 Mill Road in Irvington 1636 Route 38 Suite 49 in Lumberton 210 Bridgeton Pike in Mantua 108 Swedesboro Road Suite 20 in Mullica Hill 2370 Route 33 in Robbinsville 773 Hamilton Street in Somerset 4057 Asbury Avenue Suite 8 in Tinton Falls 1726 Route 37 in East Toms River 3 Marshall Hill Road in West Milford 1434 South Black …

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by Cecilia Levine
Business
Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy
Bed Bath & Beyond Plans To Close Remaining Stores After Filing For Bankruptcy Struggling home goods retailer Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday, April 23 with plans to close all of its remaining stores after efforts to raise enough money to keep the company alive came up short. The company said in a statement that it will implement "an orderly wind-down" of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.  For now, 360 Bed Bath & Beyond and 120 buybuy BABY stores and websites will remain open and continue serving customers as the com…

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by Joe Lombardi
Business
Regal Cinemas Closing 2 NJ Locations Regal Cinemas Closing 2 NJ Locations
Regal Cinemas Closing 2 NJ Locations Two New Jersey Regal Cinemas locations will shutter after parent company Cineworld filed for Chapter 11 bankruptcy. Cineworld in a new bankruptcy filing this week announced it would be rejecting the leases of 39 theaters closing in the US, helping to save $22 million a year. The New Jersey locations closing are at the Regal Hamilton Commons in Mays Landing, and the Regal Pohatcong in Phillipsburg. Click here for the full list of Regal Cinemas closures.

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by Cecilia Levine
News
NJ Crypto Lender BlockFi Files For Bankruptcy NJ Crypto Lender BlockFi Files For Bankruptcy
NJ Crypto Lender BlockFi Files For Bankruptcy New Jersey-based cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy. The company, headquartered on Montgomery Street in Jersey City, in a statement said it will "focus on recovering all obligations owed to BlockFi by its counterparties," including the now-bankrupt Bahamian cryptocurrency exchange. BlockFi also said it expects a delay in recoveries from FTX. Acting in the best interest of our clients is our top focus and continues to guide our path forward. Chapter 11 is a transparent process and we will continue to communicate with our clients to ensure they hear directly…

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by Cecilia Levine
News
Gun Manufacturer Remington Settles With Sandy Hook Families For $73M Gun Manufacturer Remington Settles With Sandy Hook Families For $73M
Gun Manufacturer Remington Settles With Sandy Hook Families For $73M Families of five children and four adults killed in the 2012 Sandy Hook Elementary School shooting reached a historic $73 million settlement with gun manufacturer Remington, officials announced. Attorneys for the families who filed the suit against the now-bankrupt Remington and its four insurers, announced on Tuesday, Feb. 15 that they had reached the settlement, representing the first time a gun manufacturer has been held liable for a mass shooting in the US. As part of the settlement, lawyers for the families said that Remington agreed to release thousands of pages of internal company do…

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by Zak Failla