Tag: BANKRUPT

As part of its newfound bankruptcy status, Ritz Camera's gearing up to close more than 300 of its around 700 brick-and-mortar stores across the US, or about 43 percent of its retail presence. Starting April 4th, the affect stores will begin liquidation sales that'll go on until -- in the words of the press release -- "everything is sold to the bare walls." Forget DSLRs, if you were needing any ...

We guess those bailout talks with DirecTV weren't so futile after all, huh? The satcaster's parent company, Liberty Media, has just stepped in to rescue Sirius XM from the clutches of bankruptcy, providing a $530 million life raft that it will use to pay off looming debt payments and keep operations humming. Liberty will write a $280 million check immediately, of which $171 million will go ...

digg_url = 'http://digg.com/business_finance/Circuit_City_files_bankrupcy'; Even after shutting down 155 retail stores and announcing plans to cut around 17-percent of its 43,000 employees, Circuit City couldn't avoid the dreaded bankruptcy court. Today, the Virginia-based company (along with 17 affiliates) petitioned for Chapter 11 protection in Richmond as it attempts to survive under the ...