Toys R Us filed for chapter 11 bankruptcy protection on Monday. The retailer has $4.9 billion in debt, $400 million of which has interest payments due in 2018 and $1.7 billion of which is due in 2019. The company said it will continue to operate its approximately 1600 stores around the world. Click here and here for the full story. ...
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Women's shoe chain Aerosoles filed for Chapter 11 bankruptcy protection on Friday. Aerosoles will close most of its stores and focus on its wholesale, e-commerce and international businesses. Aerosoles said it will close 95 percent of its 78 stores while maintaining four flagship shops in New York and its home state. Click here and here for the full story. ...
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Offshore drilling services provider Seadrill Ltd said on Tuesday it had filed for Chapter 11 bankruptcy and entered into a restructuring agreement with bank lenders, bondholders and a consortium of investors. Seadrill Ltd, is controlled by Norwegian billionaire John Fredriksen. A deal with a consortium of investors, as well as bank lenders and many of its bondholders, will bring in more than $1 billion in fresh funding and aims to allow the firm to maintain its fleet of drilling units and pay creditors and staff. However, its shareholders will see their stakes heavily diluted. "Holders of Seadrill common stock will receive approximately 2 ...
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