All posts tagged bankruptcy

Girard Manufacturing files for Ch. 11, cites $3.8M in debt
August 31, 2017, No Comments

Girard Manufacturing, a wood office furniture store based in Canóvanas, has filed for Chapter 11 protection at the U.S. ...

U.S. gov’t to decide by Oct. 6 if it will defend PROMESA
August 17, 2017, 1 Comment

The United States government will notify the Financial Oversight and Management Board by Oct. 6 if it will defend the co ...

Rosa Mexicano operator files Ch. 11, citing $3.6M in debt
August 10, 2017, No Comments

Ocean Front Hospitality Group, owner of the Rosa Mexicano franchise in Puerto Rico, has filed for Chapter 11 bankruptcy ...

Doctors, restaurants lead Jan.-June bankruptcy petitions
July 24, 2017, No Comments

During the first six months of the year, 17 medical doctors filed for bankruptcy protection, reporting more than $23.5 m ...

Op-Ed: PR in for ‘rude awakening’ opting for bankruptcy
July 6, 2017, 1 Comment

If Puerto Rico thinks bankruptcy is a better solution, they have a rude awakening coming. One should look no further tha ...

The silent expansion of Fiscal Control Boards in the U.S.
June 1, 2017, No Comments

Regardless of their size, the number of residents, or the fiscal problems they have, U.S. cities under fiscal control bo ...

Nonprofits ‘worried’ about bankruptcy under PROMESA
May 15, 2017, No Comments

The reorganization process of Puerto Rico’s public finances has a direct impact on local nonprofit organizations, espe ...

Reactions abound over govt’s Title III restructuring filing
May 4, 2017, No Comments

Local and stateside creditors and credit ratings agencies did not reach a true consensus over the government's decision ...

Payless ShoeSource closing 12 stores in PR; 389 in total
April 14, 2017, 1 Comment

Payless ShoeSource is closing 389 underperforming stores in the United States — including 12 in Puerto Rico — provid ...

Report: Puerto Rico’s bankruptcy filings drop 2% in ’16
January 26, 2017, No Comments

The number of bankruptcy cases filed in Puerto Rico during 2016 dropped by 2 percent year-over-year, with a total of 10, ...