Perkins & Marie Callender’s Holding LLC, which operates U.S. family dining restaurants, filed for Chapter 11 bankruptcy protection on Monday with the U.S. bankruptcy court in Delaware. The Memphis, Tennessee-based company said Monday it plans to sell its Perkins’ business and a segment of its Foxtail bakery business, which supplies to its restaurants and distributors to “Perkins Group LLC.”  This is an arrangement known as a "stalking horse" bid and sets a floor for bidding on the company's assets with a court-supervised auction expected in September. The filings indicate that the company owes lenders about $100 million, with total ...
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Barneys New York on Tuesday said that it's filing for bankruptcy and will close 15 locations.  As part of its bankruptcy filing, Barneys New York will close its stores in Chicago, Las Vegas and Seattle, as well as five smaller stores and seven Barneys Warehouse locations. The two Barneys Warehouse locations that will remain open are Woodbury Common, New York, and Livermore in California. Click here for the full story. ...
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Parker Drilling announced Wednesday morning that it had filed for a “pre-arranged” chapter 11 bankruptcy. Parker Drilling’s proposed plan will reduce two-thirds of funded debt and inject $95 million of equity capital through a backstopped rights offering, the company said. The plan is subject to court approval. Click here and here for the full story. ...
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