Bankruptcy

NRA Files For Bankruptcy, "Dumps" New York, Will Reincorporate In Texas

Less than a week after President-elect Joe Biden on Jan. 8 promised to “defeat” the National Rifle Association while he’s in office, the organization said in a statement tonight that it has filed bankruptcy petitions in U.S. court as part of a restructuring plan. The NRA says the plan can be summed up quite simply: We are DUMPING New…

Spain’s Santander In Talks To Buy Wirecard Bank, Other Assets Out Of Bankruptcy

Even though auditors eventually determined that roughly 2/3rds of Wirecard’s revenue (including practically all of its Asian business) was fraudulent, there are still a few businesses and assets, including Wirecard’s former European banking unit, and its payments software, that have been deemed valuable. And the company’s German bankruptcy trustee has been working to sell these…

Two Major Mall Landlords File Bankruptcy Amid Retail “Carnage”

By Tyler Durden While the Wall Street crowd has since moved on from shorting malls, aka the “Big Short 2.0”, in some distinct cases with massive profits, to shorting hotels which as we first presented here earlier this year has emerged as the “Big Short 3.0” trade, this weekend we got a vivid reminder of…

Friendly’s Restaurant Files For Bankruptcy, Expect Many More

Authored by Mike Shedlock via MishTalk, The Ice cream eatery has estimated liabilities of up to $100 million and no way to pay them. Friendly’s Goes Under Again Bloomberg reports Iconic Restaurant Chain Friendly’s Files for Bankruptcy Friendly’s Restaurants LLC, an iconic chain on the East Coast of the U.S. known for its sundaes, became the…