The subprime auto loan industry is under scrutiny after a major player, Tricolor Auto, went bust in September. The company's downfall raised eyebrows on Wall Street, sparking worries about the health of the industry as a whole. Fast forward to December, and federal prosecutors in New York have made
iRobot, the company behind the famous Roomba vacuums, is going through big changes. They've filed for Chapter 11 bankruptcy protection. This means they're restructuring to stay afloat. But don't worry, your Roomba won't stop working. The company says everything will keep running as usual. iRobot ha
The tech world is buzzing with big changes. OpenAI, a leading AI company, is making moves to attract top talent. They recently scrapped a rule that made new employees wait six months before getting their stock rewards. This is a big deal because it shows how much companies are willing to spend to ge
Waterbury Hospital is on the brink of a major change. UConn Health has stepped in with a bid to take over the hospital, which could prevent its closure. This move comes after the hospital's current owner, Prospect Medical Holdings, filed for bankruptcy. The takeover could mean better healthcare for
Marriott's recent breakup with Sonder, a short-term rental company, has left many guests scrambling. The sudden split, announced just a week into their stays, has caused chaos for travelers who had booked through Marriott's channels. Guests like Steve McGraw, a retired tech executive, were caught o
Zuum, a tech company focused on logistics, has recently filed for Chapter 11 protection. This move comes as a surprise to many, given the company's ambitious vision to revolutionize the logistics industry. Zuum's top 20 unsecured creditors are mostly brokers, with one notable exception: Accion Labs
Bradley Heppner, once a prominent figure in the financial world, now faces serious allegations. The U. S. Department of Justice has charged him with securities fraud, wire fraud, and other crimes. These charges are tied to his time as the chair of GWG Holdings, a financial services company that went
Recently, two big companies, Tricolor and First Brands, ran into serious trouble. Tricolor, a major used-car seller in Texas and California, suddenly went bankrupt. This wasn't just any bankruptcy. Investigators are looking into whether Tricolor tricked lenders by promising the same collateral to ma
Fossil, a well-known brand in the world of fashion accessories, is in hot water. It's filed for Chapter 15 bankruptcy in the U. S. , pointing fingers at U. S. tariffs and tech giants like Apple and Samsung. This move comes after Fossil proposed a restructuring plan in the U. K. to tackle its growing
A futuristic gaming hub in Las Vegas has closed its doors after just one year. The Electric Playhouse, a high-tech arcade and dining spot inside a mall at Caesars Palace, filed for bankruptcy. This move came as no surprise, given the venue's struggles with unpaid debts and an impending eviction. Th
