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Two large movie theater owners issued dire warnings on Wednesday about their ability to bounce back from the coronavirus. AMC, the nation’s biggest cinema chain, said in a regulatory filing that there’s a “substantial doubt” about its ability to “continue as a going concern for a reasonable period of time.” Companies issue “going concern” warnings …
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Carl Icahn exited Hertz like a stuntman abandoning a burning car — and he suffered some nasty cuts and bruises on his way out. The billionaire investment tycoon took a loss of more than $1.8 billion as he dumped his entire stake in the bankrupt rental-car company in recent days, according to court filings. Icahn, …
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Cineworld, the owner of Regal cinemas in the US, expects to reopen its doors for business in July. The movie-theater giant said late Wednesday it anticipates that government restrictions related to cinemas will be lifted in each of its territories in the coming months and “anticipates the reopening of all of its cinemas in July.” …
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LATAM Airlines Group announced Tuesday that it filed for bankruptcy in the latest sign of how the coronavirus pandemic has roiled the travel industry. Latin America’s biggest airline and its affiliates in Chile, Peru, Colombia, Ecuador and the US sought Chapter 11 bankruptcy protection in Manhattan federal court as part of a reorganization brought on …
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Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company’s business. The Estero, Florida-based company’s lenders were unwilling to grant it another extension on its auto lease debt payments past a Friday deadline, triggering the filing in U.S. …
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The billionaire founder of electric-car startup Faraday Future — who boldly challenged Tesla with a far-out car design in 2015, only to file for personal bankruptcy last fall — said Friday his Chapter 11 restructuring plan has won court approval. The nod from a federal bankruptcy judge is a win for Faraday Future’s ex-chief executive …
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Carl Icahn’s car-rental company Hertz may be skidding toward liquidation, The Post has learned. The 102-year-old Hertz — known for tapping O.J. Simpson as its spokesman in the 1970s — could file for bankruptcy in the coming days tied to a tardy collateral payment next due on Friday. As The Post has previously reported, the …
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Hertz Global Holdings wants to keep its business in Europe solvent as it prepares for a possible bankruptcy filing in the US, The Post has learned. The struggling car-rental giant backed by billionaire Carl Icahn on Friday asked lenders to its European division, which represents about 20 percent of sales, to sign a waiver by …
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Pier 1 Imports is calling it quits. The bankrupt home-goods retailer has asked a court for permission to liquidate its remaining 540 stores once they reopen, ending a 58-year legacy of selling colorful glassware, wicker furniture and other home decor. “This is not the outcome we expected or hoped to achieve,” Robert Riesbeck, Pier 1’s …
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JCPenney plans to trim its store count by 29 percent, to about 604, as the US department store chain looks to focus on those more profitable, a regulatory filing showed on Monday, two days after it filed for bankruptcy protection. The stores to stay open accounted for 82 percent of the company’s fiscal 2019 sales, …
Two large movie theater owners issued dire warnings on Wednesday about their ability to bounce back from the coronavirus. AMC, the nation’s biggest cinema chain, said in a regulatory filing that there’s a “substantial doubt” about its ability to “continue as a going concern for a reasonable period of time.” Companies issue “going concern” warnings …
