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GLOBAL BRANDS GROUP USA FILES FOR BANKRUPTCY

... Beckham, and in 2016 participated in the development of a brand with Katy Perry. In 2020, the company incurred losses of $ 584 million (in 2019, there were $ 388 million). Despite this, the salary company’s CEO Richard Darling increased from $ 516 thousand to $ 6.6 million (more than 12 times) for the same period of time with the approval of the board of directors. ‘Over the past year and a half, the retail market has been hit hard by COVID-19, creating challenges for us and many others in our industry’,...

The owner of two skyscrapers in the United States files for bankruptcy

PWM Property Management, which owns two skyscrapers in New York and Chicago, filed for bankruptcy. The firm filed a lawsuit in Delaware under Chapter 11 of the U.S. bankruptcy law. The company says the reason for the bankruptcy is the transition of employees to remote forms of work and the activities of the SL Green Realty corporation, which operated the real estate. The 44-storey Park Avenue skyscraper and the 50-storey Chicago Loop office tower, which the owner considers to be very significant...

Philippine Airlines files for bankruptcy protection in US

The creditors have agreed to ‘forgive’ a $ 2 billion (100 billion Philippine francs) debt to the only airline in the Philippines having an IOSA certificate. PAL's chief financial officer, Nilo Thaddeus Rodriguez, said the company would make every effort to complete the restructuring on its own. At the same time, the results of its holding will depend on how quickly the world tourism business begins to recover. Many countries are still closed due to the coronavirus infection. The head of the carrier...

RETIREMENT COMMUNITIES OF THE US ARE GOING BANKRUPT

The Buckingham is a Houston-based continuing care retirement community (CCRC). The organization has recently applied to court for bankruptcy protection. The petition was filed with the US Bankruptcy Court for the Southern District of Texas on June 25, 2021. When applying to the court, the CCRC officials cited a number of factors that put financial pressure on the organization, including Hurricane Harvey, which hit the United States in 2017 and the Covid-19 pandemic that began in 2020. Both facts...

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