The wireless 4g internet service provider, Xanadoo Holdings Inc., seeks out Chapter 11 bankruptcy protection without reason. The company lists over $100 million in assets and has debt worth about $100 million. Four of their affiliates have also filed for bankruptcy.
Xanadoo started in 2006 providing high speed 4g wireless internet to consumers. Their website states they are “one of the first and only 4g wireless Internet operators in the U.S. to bring WiMAX to America’s Heartland” and offers plans starting at just $14.95 per month.
They began operating in Springfield, Illinois …

Allen Family Foods, the poultry company, announced Thursday that they are filing for Chapter 11 bankruptcy protection with the intent to sell everything they own. A statement issued by the company says Allen has entered itself into an asset purchase which was agreed with from Seaford Milling company and they plan to complete the transaction within 45 days.
Allen’s is a four generation company that has been running for over 92 years. The poultry industry has been under a large amount of stress with factors such as high corn and soybean …

Dozens of customers now have hope with their never seen furniture or thousands of dollars in deposits at the furniture repair shop Brandt & Whitney after it shut its doors without notice. According to 9NEWS, the furniture shop filed chapter 7 bankruptcy.

Customers went to gather their furniture last week at the store and found its doors locked with all phone numbers for business disconnected. The Englewood Police Department got three complaints and the Better Business Bureau dropped its accreditation.

Great Western Furniture Manufacturing doing business with Brandt & Whitney owe together …

The biggest U.S. Company in bankruptcy, Station Casinos Inc., finally won its last court approval needed to end its bankruptcy.

U.S. Bankruptcy Judge Gregg W. Zive from Reno, Nevado, had approved for a reorganization plan with Green Valley Ranch Resort, Spa and Casino, that sold the property to a group led by Station’s founding family. The Las Vegas-based company will apparently exit bankruptcy within the next coming weeks.

Frank Fertitta and his brother, Vice Chairman Lorenzo is reassembling Station with 45 percent being restructured after a $200 million investment. Station filed bankruptcy …

Bankruptcy rates in cancer patients increase as their survival time increases, according to a new study of researchers who compared U.S. bankruptcy court records to cancer registry data. They based their study over a span of 14 years off of 232,000 adult cancer survivors in western Washington. On average, it’s been reported that bankruptcy rates quadrupled within five years of a cancer diagnosis.

Bankruptcy rates amongst cancer survivors were nearly doubled within one year after a diagnosis. The median time for bankruptcy with cancer patients was 2 and a half years.

“The …

Professional soccer team, Real Zaragoza, has filed for bankruptcy protection to control its debt. Spain’s top league soccer player, Zaragoza, known to soccer fans as “La Liga,” said on Wednesday the team was in danger of having a “cash flow” issue because of the $150 million debt it handled with books.

Agapito Iglesias, Zaragoza’s President, posted to the team’s website that the club is continued to be weighing down by its debt even after an out-of-court resurrection attempt and personal loans made for the team.
Zaragoza was hit with a financial blow …

A private equity firm, Najafi Cos., is considering buying the bankrupt book store chain, Borders Group Inc. Najafi is apparently performing outstanding hard work in bidding for at least half of Borders stores. Borders was founded 40 years ago originally as a single used bookstore in Ann Arbor, Michigan. Barnes & Noble, the second largest book store chain, had 642 stores in February when it filed for court protection, and still has 405 operating after closing 237 of them.

Chapter 11 of the bankruptcy code states that the company will hold …

The high end jeans label that is in bankruptcy is Rock & Republic.  The brand known for its high-end denim that is sold in many high end boutiques and department stores filed for Chapter 11 bankruptcy protection on Thursday, according to court documents.
Some of the jeans have sold for $345.  Rock & Republic also sells jeans in its Recession Collection that are priced lower from $128 to $138.  According to its website, “the best way to rock the recession is to keep the economy rolling.”
Some retail stores the jean can …