Find Your Daily Voice
GO
Tag:
Equity Investment
Atlantic City, NJ
On Your Side
Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut
Spirit Airlines is changing its senior leadership after exiting bankruptcy and shedding nearly $800 million in debt. Ted Christie, who has led the airline since 2019, stepped down as CEO and president on Monday, April 7. He also resigned from the board of directors for the company based in Dania Beach, Florida. The board has not yet named a permanent replacement, opting for an interim "Office of the President," made up of executive vice president and CFO Fred Cromer, executive vice president and COO John Bendoraitis, and senior vice president and general counsel Thomas Canfield. "Ted has k…
Atlantic City, NJ
On Your Side
Spirit Airlines Exits Bankruptcy After Slashing $795M In Debt, Cutting Jobs
Spirit Airlines has flown past its financial turbulence, as the budget airline exits bankruptcy after shedding nearly $800 million in debt, officials said. Spirit has ended its financial restructuring process, the airline said in a news release on Wednesday, Mar. 12. The Dania Beach, Florida-based company filed for Chapter 11 bankruptcy in November 2024. The airline has finalized a plan that eliminates $795 million in funded debt and it also received $350 million in equity investments. "We're pleased to complete our streamlined restructuring and emerge in a stronger financial position to c…
Lewisboro, NY
On Your Side
Nearly Two Dozen Modell's Stores Slated For Closure
With online shopping leading to the demise of many traditional brick-and-mortar retailers, Modell’s Sporting Goods announced it will be closing nearly two dozen East Coast stores in an attempt to save the entire company. Eight Modell’s locations will be closing in New York - including one on Long Island - though the Hudson Valley avoided the chopping block. The move comes so the retailer can avoid filing for bankruptcy as soon as Sunday, March 1, according to reports. Modell’s didn’t announce which Long Island location would be closing, and no closing dates or start of closing sales …
