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More articles about: bankruptcy

PAL is a survivor, company says.
Philippine Airlines (PAL) officially filed for Chapter 11 bankruptcy last week, but it still needs to be approved by the courts in the U.S. Company officials said chances that the restructuring program will be rejected are “very, very small.” The country’s flag carrier expects ...
It may come by the end of May.
Philippine Airlines (PAL) is close to filing for Chapter 11 bankruptcy in the U.S., multiple news sources have reported since last week. A story by travel and aviation data services provider Cirium, published on FlightGlobal, quoted sources as saying the flag carrier may ...
The restaurant chain is the latest casualty of COVID-19.
California Pizza Kitchen is the latest restaurant chain to declare bankruptcy. The popular American casual food chain on Thursday (Friday night in Manila) said it plans to close unprofitable locations and reduce its long-term debt load, according to the Wall Street Journal. ...
The health and wellness company had been under financial pressure over the last few years.
This story was updated on June 25, 2020 to add a statement from the Philippines franchisee of GNC.The parent company of health and nutrition retail brand GNC has filed for Chapter 11 bankruptcy protection, blaming the coronavirus pandemic for its woes. Also read: What ...
It’s the latest casualty of the coronavirus pandemic.
Hertz, a global car rental company that’s over 100 years old, filed for bankruptcy protection on Friday (May 22), ostensibly due to the effects of the coronavirus pandemic. It’s the latest large-scale company the virus has taken down in recent weeks. The Wall ...
And how is it different from insolvency?
Bankruptcy is increasingly becoming a familiar word while the planet grapples with the coronavirus. With most people still being advised to stay home, and businesses remaining shuttered because of lockdown orders from the government, it’s becoming more and more difficult for these ...
But it says filing will not affect franchised locations.
This article has been updated with an additional statement from Gold's Gym CEO Adam Zeitsiff and additional information from Gold's Gym Philippines President and CEO Mylene Dayrit.Gold’s Gym, one of the world’s most recognizable chain of fitness centers, has filed for Chapter 11 ...
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