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GLOBAL BRANDS GROUP USA FILES FOR BANKRUPTCY

The apparel manufacturer and owner of numerous brands, the Global Brands Group (GBG), filed for bankruptcy in the United States on July 29, filing a relevant claim with the US court. The claim contains descriptions of a plan ... ... 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 ...

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,...

Philippine Airlines files for bankruptcy protection in US

... a later date, and some of the orders may be canceled. The company's appeal to a foreign court, as explained in the PAL management, is due to the fact that a significant part of the company's creditors are US residents and the use of the appropriate bankruptcy procedures will be more convenient. The restructuring plan assumes that expenses will be reduced by $ 2 billion, and along with the borrowed capital of the Tang family, it is expected to receive new investments of $ 150 million. Experts note ...

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,...

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