March 7 at 9:43 a.m.
Filed under:
Bankruptcy
By Becky Yerak
A Giordano's at 1040 W. Belmont. (Brian Cassella/Chicago Tribune)
Giordano’s, the Chicago-based pizza chain that filed for bankruptcy last month, has hired the restructuring firm headed by Democratic party stalwart William Brandt.
On Wednesday, U.S. Bankruptcy Judge Eugene Wedoff will be asked to approve an agreement between Giordano’s Enterprises Inc. and Chicago-based Development Specialists Inc. (DSI)
Giordano’s and 32 affiliated companies filed for Chapter 11 bankruptcy on Feb. 17. Get the full story »
Oct. 29, 2010 at 12:53 p.m.
Filed under:
Bankruptcy,
Retail
By Sandra M. Jones
A Loehmann's store on State Street in Chicago. (Phil Velasquez/Chicago Tribune)
Loehmann’s said it is exploring a pre-negotiated bankruptcy reorganization, among other options, after defaulting on a loan.
The off-price women’s clothing retailer failed to consummate an exchange of a series of old notes for a series of new notes, the retailer said in a press release Friday. The company received valid tenders representing 92.4 percent of the outstanding principal amount of the old notes, less than the 97 percent required.
As a result, Loehmann’s missed an October interest payment, resulting in default on its revolving credit agreement with Crystal Financial LLC. Get the full story »
By Reuters
General Growth Properties Inc. on Tuesday named the nine members of the board of the company that will emerge from bankruptcy protection and take the No. 2 U.S. mall owner forward.
General Growth said Bruce Flatt, chief executive of Brookfield Asset Management, will be the chairman upon emergence from bankruptcy in early November. Get the full story »
