Corporate bankruptcy

FILE- In this May 18, 2006, file photo a worker puts the finishing touches on a sign unveiling the company's new look at a Payless Shoesource store at a mall in Independence, Mo. Payless ShoeSource has filed for Chapter 11 bankruptcy protection and is shuttering its remaining stores in North America. The filing on Monday, Feb. 18, 2019, came a day after the shoe chain began holding going-out-of-business sales at its North American stores. (AP Photo/Charlie Riedel, File)
February 20, 2019 - 8:37 am
TOPEKA, Kan. (AP) — The failing Payless ShoeSource chain will honor gift cards and store credit until March 11 as the company liquidates all operations. The Topeka, Kansas, company, which filed for bankruptcy protection this week, will allow returns and exchanges of non-final sale items through the...
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California Gov. Gavin Newsom walks up up the center aisle of the Assembly Chambers to deliver his first of the State of the State address to a joint session of the legislature at the Capitol Tuesday, Feb. 12, 2019, in Sacramento, Calif. (AP Photo/Rich Pedroncelli)
February 12, 2019 - 5:53 pm
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom said Tuesday he's abandoning a $77 billion plan to build a high-speed rail line between Los Angeles and San Francisco and will focus instead on completing a 119-mile (190-kilometer) segment in the state's agricultural heartland. Voters approved...
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February 08, 2019 - 3:42 pm
NEW YORK (AP) — In a story Feb. 7 about Sears staying in business, The Associated Press incorrectly spelled the name of a popular American TV show that aired in the 1960s. The show is "The Andy Griffith Show," not "The Andy Griffin Show." The AP also incorrectly referred to the railroad tycoon. His...
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FILE - In this Nov. 22, 2017 file photo, former gymnast Rachael Denhollander speaks about former sports doctor Larry Nassar in Lansing, Mich. Denhollander, the first woman to publicly accuse now-imprisoned sports doctor Larry Nassar of sexual abuse is expected to question USA Gymnastics' chief financial officer during a creditors' meeting two months after the embattled sport organization filed a Chapter 11 bankruptcy petition. (AP Photo/Paul Sancya, File)
February 07, 2019 - 7:16 pm
INDIANAPOLIS (AP) — Three women suing USA Gymnastics over alleged sexual abuse by sports doctor Larry Nassar expressed frustration with its chief financial officer's lack of answers Thursday during a creditors meeting in the group's bankruptcy case, with one calling it "one big I-don't-know."...
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FILE - In this file photo dated Friday, Dec. 28, 2018, people pass a CD music and entertainment retailer HMV shop in London. HMV has been acquired out of administration by Canadian retailer Sunrise Records, it is announced Tuesday Feb. 5, 2019, safeguarding the future of nearly 1,500 staff, although it is understood that some unprofitable stores will close with immediate effect. (AP Photo/Frank Augstein, FILE)
February 05, 2019 - 5:41 am
LONDON (AP) — Canadian retailer Sunrise Records is pulling stricken retailer HMV out of bankruptcy in a deal that will safeguard some 1,500 jobs. However administrator KPMG says 27 stores will close immediately, resulting in a loss of 455 jobs. The move comes amid extreme pressure on physical...
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A man walks past a Pacific Gas & Electric Co. entrance in Daly City, Calif., Friday, Feb. 1, 2019. Pacific Gas & Electric Co. spent nearly $10 million on California lobbying efforts in the year before the utility giant declared bankruptcy, spending more than any other entity seeking to influence California government in 2018. The majority of that money, more than $5 million, was spent lobbying on proposals around wildfire safety and response, including a discussion on whether to reduce the strict liability utilities face when their equipment sparks wildfires. (AP Photo/Jeff Chiu)
February 01, 2019 - 6:47 pm
SACRAMENTO, Calif. (AP) — Pacific Gas & Electric Corp. spent nearly $10 million on California lobbying efforts in the year before the utility giant declared bankruptcy, spending more than any other entity seeking to influence California government in 2018. The majority of that money — more than...
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FILE - In this Oct. 11, 2017 file photo, a Pacific Gas & Electric crew works at restoring power along the Old Redwood Highway in Santa Rosa, Calif. Pacific Gas & Electric Co. was not the first utility to declare bankruptcy, not even when it did so in 2001. But when the nation's largest utility filed again for Chapter 11 protection this week, it took a step no utility has in seeking shelter from potentially insurmountable legal bills because the company's power lines are blamed for sparking deadly wildfires. (AP Photo/Eric Risberg, File)
January 31, 2019 - 8:16 pm
LOS ANGELES (AP) — Big corporations forced into bankruptcy by liability lawsuits often take the offending product off the market and try to move on. That's what happened with the Dalkon Shield birth control device, asbestos and silicone breast implants. But when the nation's biggest utility,...
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Amanda Riddle, an attorney representing wildfire victims, speaks with a reporter outside of a Federal Courthouse in San Francisco, Tuesday, Jan. 29, 2019. Faced with potentially ruinous lawsuits over California's recent wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could lead to higher bills for customers of the nation's biggest utility and reduce the size of any payouts to fire victims. (AP Photo/Jeff Chiu)
January 29, 2019 - 7:27 pm
SAN FRANCISCO (AP) — Faced with potentially ruinous lawsuits over California's recent wildfires, Pacific Gas & Electric Corp. filed for bankruptcy protection Tuesday in a move that could lead to higher bills for customers of the nation's biggest utility and reduce the size of any payouts to...
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Consumer advocate Erin Brockovich, who famously took on Pacific Gas & Electric Co. in the 1990s, stands with wildfire victims and speaks outside the state Capitol Tuesday, Jan. 22, 2019, in Sacramento, Calif. Brockovich is urging California lawmakers not to let PG&E go bankrupt because it might mean less money for wildfire victims. (AP Photo/Kathleen Ronayne)
January 22, 2019 - 8:35 pm
SACRAMENTO, Calif. (AP) — Consumer activist Erin Brockovich, who famously took on Pacific Gas & Electric Co. in the 1990s, urged California lawmakers Tuesday not to let the utility go bankrupt because it could mean less money for wildfire victims. "I'm mad, I think we should all be mad,"...
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FILE- In this Jan. 7, 2019, file photo a customer shops in a Sears store in the Brooklyn borough of New York. Sears confirmed Thursday, Jan. 17, that chairman and largest shareholder Eddie Lampert’s hedge fund has won tentative approval for a $5.2 billion plan to buy 425 stores and the rest of its assets. (AP Photo/Mark Lennihan, File)
January 17, 2019 - 6:55 pm
NEW YORK (AP) — A group of Sears creditors are challenging Chairman Eddie Lampert's hedge fund's winning $5.2 billion bid to buy the business in a bankruptcy auction and wants to air their grievances in court. Sears confirmed Thursday that Lampert's hedge fund won tentative approval for the plan to...
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