Detroit Files For Chapter Nine Bankruptcy
Michigan's largest city has filed for Chapter Nine bankruptcy protection. Struggling with billions of dollars in debt after decades of mismanagement, Detroit is the largest city in the history of the United States to file.
Kodak Files For Bankruptcy
Another iconic American brand is navigating troubled financial waters as Kodak has filed Chapter 11 bankruptcy. Despite $4 billion in annual sales, Kodak is struggling with legacy costs and low-cost digital competition. For many decades Kodak was THE name for film and photographic paper. Chances …
Twinkies Won’t Last Forever; Hostess Filing Chapter 11
According to the Wall Street Journal, the company that makes Twinkies and Wonder Bread is preparing to file for Chapter 11 bankruptcy protection as early as this week. This would be the second time that Hostess Brands, Inc. has filed for bankruptcy in less than a decade.