Close to a thousand staff at Bayonne University Hospital in New Jersey received unexpected layoff notices recently, but the hospital’s new owner insists they shouldn’t panic. The notices, filed under state rules, suggest big changes are coming by late June. This follows the sudden closure of Heights
A once-promising sports network that barely survived bankruptcy is now closing its doors. FanDuel Sports Network, which took over after a major media company collapsed under debt, lasted less than a year before collapsing again. The network started 2026 with deals covering 29 teams across three leag
A company that once printed glossy books for pop stars and popes has suddenly run out of cash. The publisher behind books like a Madonna photo album and a coffee-table edition on Michelangelo’s ceiling told a judge it cannot pay its bills right now. It once got a loan from a tech legend to launch di
BlockFills, a Chicago‑based crypto trading house, announced it is filing for Chapter 11 protection in Delaware after months of financial strain. The firm had stopped letting customers withdraw funds on February 6, citing a lack of liquidity that could not be fixed by new investors or buyers. The
The luxury retail giants are trimming their physical footprints to stay afloat. In a new move, the parent company will shut 12 Saks Fifth Avenue locations and three Neiman Marcus shops by the end of May. This follows earlier closures that ended in April, bringing the total number of shutdowns to 24
The year 2022 saw two huge blows to the crypto world, each led by a different bad actor. In May, Terraform Labs’ UST stablecoin broke its $1 promise and spiralled into hyperinflation. The crash wiped out roughly $40 billion in market value and pushed several crypto firms into bankruptcy, including V
In recent months, the private credit market has faced a series of shocks that reveal deep cracks in its foundation. The first blow came in September when two auto‑parts and auto‑lending firms, First Brands Group and Tricolor Holdings, both filed for bankruptcy. Their failures highlighted how much pr
Saks Global, which owns famous names like Saks Fifth Avenue and Neiman Marcus, fell into bankruptcy a little over a year after it was created. Many people blamed the former chairman, Richard Baker, for the collapse. In a quiet meeting in Manhattan, he told reporters that he was actually trying to he
The state has seen a sharp rise in company bankruptcies, climbing 25 % last year to the highest level since 2013. Nationwide, many people and firms are filing for bankruptcy, but Oregon’s rate is almost four times faster than the national average. High interest rates and inflation are squeezin
The flagship Saks Fifth Avenue on Canal Street will close its doors in April 2026. The decision comes as the parent company, Saks Global Enterprises, files for Chapter 11 and trims unprofitable locations nationwide. The New Orleans outlet has been a downtown landmark since the early 1980s, reopen
