WINONA, Minn. — The Diocese of Winona-Rochester plans to file for Chapter 11 bankruptcy protection following allegations of child sexual abuse against former priests. The southern Minnesota diocese distributed a letter from Bishop John Quinn to parishioners over the weekend. A public announcement is planned Tuesday. A spokesman for the diocese told the Winona Daily News that Quinn believes "this is the best path forward to bring healing and justice to survivors of past child sexual abuse by clergy in our Diocese." The spokesman says the bankruptcy will not affect day-to-day operations of the diocese, parishes and schools. The diocese will be the fourth in Minnesota to file for bankruptcy. The Archdiocese of St. Paul and Minneapolis is emerging from bankruptcy . The dioceses of Duluth and New Ulm also have filed for bankruptcy amid abuse claims. The St. Cloud diocese announced its intention to file in February but hasn't done so. … [Read more...] about Winona-Rochester diocese plans to file Chapter 11 bankruptcy
Best bankruptcy to file
In the wake of Toys R Us’ liquidation, shoppers will need to turn elsewhere for their holiday toy shopping. To win over Toys R Us shoppers, stores like Walmart and Target have ramped up their toy categories for the holidays this year. Dollar stores, Party City, and even Best Buy are adding more toys to their selection this holiday season. In the wake of Toys R Us’ bankruptcy and liquidation, shoppers will need to turn elsewhere for their holiday toy shopping this year. Toys R Us filed a motion to liquidate its US business in March, initiating the closing or selling of all 735 of its US stores. They had all closed for good by the end of June. To win over Toys R Us shoppers, stores like Walmart and Target have ramped up their toy categories, with Walmart announcing it would be expanding its toy selection by 40% online and making more room for toys in stores, and Target laying out plans to add 250,000 square feet of floor space spread throughout 500 stores. Amazon is … [Read more...] about These are the best stores to shop for toys now that Toys R Us has died
Oct 17, 2:16 AM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Adam Levine-Weinberg 10/17/18 AT 1:15 AM After making some progress toward a turnaround a few years ago, J.C. Penney (NYSE:JCP) has hit a number of speed bumps since 2016. This caused its stock to plunge to multidecade lows below $2 this year, down from around $10 less than two years ago.This article originally appeared in The Motley Fool. However, the company got some good news this week. Struggling rival Sears Holdings (NASDAQ:SHLD) finally filed for bankruptcy and will start liquidating 142 stores immediately. This will add to J.C. Penney's market share growth opportunities. Additional store closures are likely after the holidays, and Sears Holdings may be forced to liquidate entirely in 2019.J.C. Penney needs to seize this opportunity to rebuild its sales and profitability over the next year or two. Otherwise, it could be the next legacy … [Read more...] about The Sears Bankruptcy Is JC Penney’s Last Best Chance To Recover
(Reuters) - Sears Holdings Corp (SHLD.O) is preparing to file for Chapter 11 bankruptcy protection in the coming days following years of declining sales, sources said on Wednesday, casting doubt over the survival of what was once the world’s largest retailer. The bankruptcy filing would end a standoff between Chief Executive Officer Eddie Lampert, the retailer’s biggest shareholder and lender, and a special board committee the company has formed to consider a rescue plan proposed by Lampert that would involve asset sales and a debt restructuring. The committee has been resisting the plan amid concerns that creditors and shareholders would sue over it being too favorable for Lampert. His history of financial engineering at Sears for more than a decade through deals tied to his hedge fund ESL Investments Inc could now be subjected to new scrutiny by Sears’ creditors in bankruptcy court, according to the sources. Both Lampert and the Sears special committee now … [Read more...] about Sears prepares to file for bankruptcy in coming days: sources
By Kathleen Pender Published 5:00 am PDT, Saturday, September 15, 2018 Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, working her post on the trading floor of the New York Stock Exchange in 2008. When Lehman Brothers went under, it nearly took the financial system with it — and the crisis provides a reminder of the usefulness of holding onto some cash. less Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, working her post on the trading floor of the New York Stock Exchange in 2008. When Lehman Brothers went under, it nearly took the financial system ... more Photo: David Karp / Associated Press 2008 Photo: David Karp / Associated Press 2008 Image 1 of / 1 Caption Close Image 1 of 1 Elizabeth Rose, a specialist with Lehman Brothers MarketMakers, working her post on the trading … [Read more...] about What are the best places to stash your cash?