Bill Schwyhart, one of the primary developers of Pinnacle Hills Promenade in Rogers, filed for Chapter 7 bankruptcy protection Friday in the United States Bankruptcy Court Northern District of Texas. In the filing, Schwyhart uses a Dallas address. According to the filing, Schwyhart has $500,000 to $1 million in assets, primarily business debts of $50 million to $100 million and between 1 and 49 creditors. A mailing list to debtors attached to the filing includes J.B. Hunt LLC in Little Rock, as well as Iberia Bank, Liberty Bank, Chambers Bank and Metropolitan National Bank, among others. Schwyhart worked with late trucking magnate J.B. Hunt and Tim Graham on the development of Pinnacle Hills Promenade Mall, which opened in 2006. After the death of Hunt, his widow, Johnelle Hunt, and Graham sued Schwyhart claiming he defaulted on various loans. In April 2010, eight development companies managed by Schwyhart filed for bankruptcy claiming nearly $42 million in debt. On May 30, … [Read more...] about Primary developer behind Northwest Arkansas shopping center files for bankruptcy
Filing for bankruptcy chapter 7
Mary Hanbury, provided by Published 8:27 am, Thursday, June 7, 2018 Business Insider/Mary Hanbury Claire's filed for Chapter 11 bankruptcy protection in March and announced it would be closing 92 stores across the United States and Puerto Rico. The chain is crippled with $2 billion of debt and agreed to a restructuring plan to reduce its debt by $1.9 billion. On Tuesday, The Wall Street Journal reported that its CEO, Ron Marshall, was paid $2.7 million in the fiscal year 2017. Claire's, the iconic teen jewelry and accessories retailer known for its ear-piercing services, filed for Chapter 11 bankruptcy protection in March. It announced it would be closing 92 stores and laying off workers. Recommended Video: Now Playing: Claire's Stores Inc. has filed Chapter 11 bankruptcy protection. Media: Fortune The chain is crippled with $2 billion of debt and agreed to a restructuring plan to reduce its debt by $1.9 billion. … [Read more...] about Claire’s CEO made $2.7 million the year before the company filed for bankruptcy
The scandal-ridden company has filed for Chapter 7 bankruptcy, reports Reuters. The filing isn’t unexpected as the company and its British parent SCL Elections Ltd said earlier this month they would both be shutting down and filing for bankruptcy after an abrupt drop in business after news of the Facebook-Cambridge Analytica scandal broke in March. It was then that allegations surfaced that said the Trump 2016 election campaign hired the firm to target voters on social media. The company was allegedly improperly using the data of at least 87 million Facebook users since 2014 in attempts to target voters with specific messaging for its users, who did not give their consent to have their demographic and psychometric data to be used in such a way. … [Read more...] about Cambridge Analytica files for bankruptcy in the U.S.
Nine West, which has a store in the Lighthouse Place Premium Outlets in Michigan City, become the latest struggling retailer to file for bankruptcy.The 45-year-old retailer, which carries women's apparel, jeans, shoes, and accessories, seeks to restructure debt through Chapter 11 bankruptcy. Its parent company, Sycamore Capital, owes $1 billion to more than 50,000 creditors, according to a court filing.Nine West has secured $300 million in debtor-in-possession financing and said it has the liquidity necessary to survive the bankruptcy.While in bankruptcy, the retailer looks to sell off its Nine West and Bandolino footwear and handbag business, and to focus on its more profitable One Jeanswear Group, The Jewelry Group, the Kasper Group, and Anne Klein businesses."This is the right step to address our two divergent business profiles. We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses and continue to operate them under a new capital structure so … [Read more...] about Nine West files for bankruptcy
A subsidiary that runs FirstEnergy Corp.'s nuclear and coal-fired power plants has filed for bankruptcy after the utility said earlier it planned to close its three nuclear plants in Ohio and Pennsylvania. The move announced by FirstEnergy Solutions signals the parent company's plan to get out of the power producing business and concentrate on supplying electricity. The subsidiary, which has been saddled by mounting debt, said in a statement that it's seeking bankruptcy protection to "facilitate an orderly financial restructuring" and believes the filing is in the best interests of the company and creditors. The filing for bankruptcy protection includes FirstEnergy Solutions, along with all FES subsidiaries and FirstEnergy Nuclear Operating Co., according to the statement. The company plans to close its Davis-Besse nuclear plant near Toledo in 2020. FirstEnergy's Perry plant near Cleveland, Ohio, and its Beaver Valley operation in Pennsylvania would then close in 2021. The three plants … [Read more...] about FirstEnergy unit files for bankruptcy, shutting down 3 nuclear reactors