Friday, November 22

Tag: Liquidation

Yellow Rejects Bid to Revive the Collapsed Trucking Company
8Dec By adminNo Comments
World

Yellow Rejects Bid to Revive the Collapsed Trucking Company

Updated Dec. 7, 2023 7:24 pm ETYellow rejected an offer to revive the bankrupt trucker and rehire thousands of its former workers, effectively ending a long-shot effort to reverse the collapse of one of the country’s biggest freight carriers. Lawyers for Yellow told the group seeking to resurrect the trucking company in a letter Wednesday that its bid was “not viable” and that Yellow is moving ahead with the sale of about 130 truck terminals that raised almost $1.9 billion at a bankruptcy auction this month. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China Evergrande Avoids a Debt Disaster—for Now
4Dec By adminNo Comments
World

China Evergrande Avoids a Debt Disaster—for Now

China Evergrande Group, the giant property developer whose default two years ago fueled a crisis in the country’s real-estate market, got some unexpected good news on Monday.The company, once China’s largest property developer by sales, was given until late January 2024 to reach a debt restructuring deal, after Hong Kong’s High Court postponed a hearing that could have pushed Evergrande into liquidation.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow 
8Nov By adminNo Comments
World

Last-Minute Bid Would Seek to Revive Collapsed Trucker Yellow 

Jack Cooper Transport, a specialized operator that hauls automobiles for carmakers, plans to submit a bid backed by $1 billion in financing and support from the Teamsters union and some U.S. lawmakers that would halt the liquidation of trucking giant Yellow and seek to resurrect the shuttered business, according to people familiar with the matter. The improbable effort would require the Treasury Department to defer repayment for several years of a $700 million loan provided to Yellow under a Covid pandemic-era bailout, one of several debts that helped push one of the country’s biggest truckers into collapse earlier this year. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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David’s Bridal Sale Approved, Keeping Roughly 200 Stores Open
14Jul By adminNo Comments
World

David’s Bridal Sale Approved, Keeping Roughly 200 Stores Open

A bankruptcy judge on Friday approved the sale of nearly 200 David’s Bridal stores out of bankruptcy to Cion Investment Corp.  In her bench ruling approving the sale Friday, Judge Christine Gravelle with the U.S. Bankruptcy Court in Trenton, N.J., said the transaction, which is set to close next week, would maximize the value for the creditors, while saving thousands of jobs and keeping up to 195 stores open. “Without...
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