Bankruptcy Tracker

Bankruptcy is the result of a company's inability to remain solvent.  Avoiding credit losses from bankruptcies are possible if one knows what to look for.  Here, CreditPulse provides profiles of select bankruptcies by identifying solvency data, unsecured creditors, financing, etc.

Recent Articles

The Goodrich bankruptcy illustrates how quickly a company's credit fortunes can change in a commodities-based industry heavily reliant on investment capital.  High debts-to-assets ratio.

Goodrich Petroleum Corp., a $208 million company based in Houston, Texas, filed chapter 11 bankruptcy yesterday in the Southern District of Texas joining a growing number of independent oil and gas companies that have sought court protection since oil prices began to slide in the second half of 2014.

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Fallout from the Petrobras corruption scandal forced three Brazilian construction firms into bankrutpcy with the largest, OAS S.A., filing for relief on March 31, 2015. 

OAS S.A., a heavy construction and investment firm based in Sao Paulo, Brazil and eight other OAS companies, filed voluntary petitions for relief on March 31, 2015 in bankruptcy court in the state of Sao Paulo.  Read more as CreditPulse provides an overview of the OAS bankruptcy along with information on the top financial and unsecured creditors.

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RadioShack bankruptcy shows the growing dual role of hedge funds and private equity as both lenders of last resort and lead asset purchasers for troubled companies.

Founded in 1921 in Boston, Massachusetts as a mail-order operation, RadioShack, the nation's best-known consumer-electronics chain, filed for Chapter 11 bankruptcy yesterday four days after the New York Stock Exchange suspended trading of its stock.  Get the details of this bankruptcy including the top ten unsecured creditors in this CreditPulse feature article. 

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Spansion, Inc. and MagnaChip Semiconductor Corp, two companies that filed Chapter 11 bankruptcy in 2009, are up and running again with both companies now trading on the New York Stock Exchange.

"Given our focus on Spansion's future, management and the Board have concluded that chapter 11 provides the most effective means for Spansion to preserve its business, meet its post-petition obligations and maintain customer confidence and continuity while we complete this restructuring,"

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The American Airlines bankruptcy, the fifth of a major U.S. airline since 2005, reaffirms the high credit risks associated with the airline industry.  Hewlett-Packard, the largest trade creditor, is owed $31 million.

On November 29, 2011, AMR Corporation, the parent company of American Airlines, and 19 of its subsidiaries filed for Chapter 11 bankruptcy protection from creditors in U.S. Bankruptcy Court for the Southern District of New York, although the company is based in Fort Worth, Texas.  Find out which lenders and trade creditors are on the hook in this CreditPulse bankruptcy profile.

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The Jefferson County, Alabama municipal bankruptcy, the fourth large municipality to file this year, highlights the increased risks of doing business with municipal governments in a recession.  A shady sewer deal.

On November 9, 2011, Jefferson County, Alabama, the county for Birmingham, the states largest city, filed a voluntary Chapter 9 bankruptcy for relief of more than $3.1 billion in debt after attempts to reach a debt restructuring deal with creditors fell apart, according to court documents.  Read about this bankruptcy and the risks posed by municipalities.

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The worsening economy is beginning to put the squeeze on the restaurant business as the nation's largest full service Mexican casual-dining restaurant chain that began operating in 1970 goes bankrupt.

Real Mex Restaurants, Inc., which operates Chevys Fresh Mex, El Torito, El Torito Grill and Acapulco restaurants, filed Chapter 11 bankruptcy on October 4, 2011 after exhausting a myriad of financial resources that included banks, a major financing company, mutual funds and numerous private equity firms.  Get all the details in this CreditPulse bankrutpcy profile.

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The recent slew of bankruptcies in the solar energy field, culminating with the Chapter 11 filing of Solyndra last week, underscore the high risks of so called "green" companies.  "An insane business model."

In May of last year, the President of the United States, Barack Obama, gave a speech at a solar facility in Fremont, California run by Solyndra, Inc. in which he touted the benefits of renewable "green" energy and jobs by claiming "the future is here to hire a thousand workers."  Read what Solyndra's largest trade creditor had to say in this CreditPulse exclusive.

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Bookseller Borders Group Files Chapter 11 Bankruptcy

Battered by a rough economy and competition from internet retailers Borders Group finally succumbs to bankruptcy after running out of cash and financing options.  "Lucky to get back 25 cents on the dollar."

Borders Group, Inc., a $2.3 billion specialty retailer based in Ann Arbor, Michigan, and seven of its subsidiaries filed for Chapter 11 bankruptcy last Wednesday in the United States Bankruptcy Court for the Southern District of New York.  Learn more in this CreditPulse bankruptcy profile.

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Spansion Inc. bankruptcy illustrates the risk posed by companies dependent on high market caps in boom times for survival. The company was below the industry averages on all five CSI benchmarks.

On March 1, 2009, Spansion, Inc., a $2.3 billion flash memory chip manufacturer based in Sunnyvale, California, and four of its affiliates filed for chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware only three years after going public on the NASDAQ.

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