Latest SMCI seems to be holding its post-earnings gainsIntuit’s Sasan Goodarzi Doesn’t Read Books, But He’s Got One to RecommendMobileye axes 200 in its latest lane departureRCI’s leadership lap dance: CEO and CFO step off the main stage with a three day goodbyeThanksgiving week massacre at HP: 4,000+ sacrificed to the Mechanical God
Category

Bankruptcies

5 stories Subscribe to Bankruptcies
Sort Newest Most discussed
View Headlines Full posts
Bankruptcies

Kyte shuts down after sinking $550+ million

by LewDiscuss

Rental car company sputters? Kyte falls out of the sky? What kind of metaphor should I have used to describe the spectacular bust of a company once touted itself as the next Hertz?

As tempting as some NY Post wordplay could have been, the amount of cash that they burned through was just too large to not put in the title.

Oh well. Kyte is now floating its way to the great airport parking lot in the sky.

Filed underKyte
Discuss
Bankruptcies · Debt

Lilium NV plummets to the ground after gov declines to rescue it mid-air

by LewDiscuss

In our second “falling to earth” headline metaphor of the day, Lilium NV will be shuttering its two subsidiaries after it failed to raise the 100mm in loans it needed to stay afloat. Layoffs of 1,000 are inbound as well. The hail mary that Lilium hoped for was the involvement of the German government, but with that window now closed, any hopes of raising the loans are now closed.
Filed underLilium NV
Discuss
Bankruptcies

Espirit is shirtless

by LewDiscuss

Eighties and nineties kids might remember when Espirit was the peak of cool, but no one else does. The failed fashion brand company is filing chapter 7 bankruptcy and will liquidate its assets. An article in ChainStorage notes that the company recently signed a least in downtown Manhattan for a “global creative headquarters.” You’d think that a company on the verge of bankruptcy should be using capital better, but with thinking like that, you wouldn’t be the CEO of Espirit.

Filed underEspirit
Discuss
Bankruptcies

E-commerce company Thrasio gets throttledio

by LewDiscuss

The headline: Thrasio Takes Steps to Strengthen Financial Position

The sub-headline: Initiates Pre-Arranged Chapter 11 Process with Support from Lenders to Significantly Reduce Debt and Facilitate Comprehensive Balance Sheet Restructuring

The dirty details: this company burned through more than 3.4 billion buying up smaller e-commerce players and selling their inventory on Amazon.

https://www.prnewswire.com/news-releases/thrasio-takes-steps-to-strengthen-financial-position-302073706.html

Discuss