bankruptcy

Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books that its auditor EY said was the result of a sophisticated global fraud. The payments company filed for insolvency at a Munich court saying that, with 1.3 billion euros ($1.5 billion) of loans due within a week, its …

Every kid’s favorite pizza-loving mouse has become a coronavirus casualty. Chuck E. Cheese’s parent company, CEC Entertainment, filed for bankruptcy late Wednesday after the pandemic shuttered most of its family-friendly eateries. The restaurant-and-arcade chain said it will use the Chapter 11 process to restructure its debt-heavy balance sheet through talks with financial stakeholders and landlords …

Restaurant chain Chuck E. Cheese parent CEC Entertainment filed for Chapter 11 bankruptcy on Thursday, making it the latest casualty of the COVID-19 pandemic that has crushed entertainment and leisure industries globally. The company described the current crisis as the “most challenging” in its history and said it would use the bankruptcy proceedings to continue …

GNC filed for bankruptcy, saying it will shutter more than 15 percent of its stores after state-ordered coronavirus lockdowns crimped sales this spring. The 85 year-old supplements seller — which struggled with sagging sales in recent years, even as it shouldered more than $700 million in debt — said in a Chapter 11 late Tuesday …

Hertz Global Holdings is in talks for a bankruptcy loan of up to $1 billion to fund its business reorganization after suspending its plan to sell new shares, The Wall Street Journal reported on Thursday, citing people familiar with the matter. The car rental firm halted its plan to sell up to $500 million in …

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Car rental giant Hertz has filed for bankruptcy because it doesn’t have enough money to pay its debts — and its stock is soaring. Welcome to the coronavirus stock market, where mom-and-pop day traders addicted to free trading apps are taking control. The bankrupt car-rental company announced plans to sell up to $1 billion in …

A group of financial lenders is angling to acquire Cirque du Soleil in a possible bankruptcy reorganization — and they may partner with its charismatic co-founder, The Post has learned. The cash-strapped circus — which was forced in March by the coronavirus pandemic to shutter dozens of shows in cities worldwide — on Monday got …

Private equity firm Sycamore Partners is in preliminary talks to acquire JCPenney out of bankruptcy should the US department store chain’s negotiations with its creditors fail, three people familiar with the matter said on Friday. Shares of JCPenney jumped almost 55 percent on the news. JCPenney, which employs roughly 85,000 people, filed for bankruptcy protection …

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 …