Bankruptcy

Bankrupt US distributor RNDC seeks court approval to sell joint venture stakes in Kentucky and Michigan for $50 million net, alongside a crucial $9 million settlement with Tito's maker.

The Israeli Supreme Court has upheld a prison sentence for bankrupt businessman Rafael Rubinț, who faces imprisonment over persistent failures to comply with court payment orders and financial disclosure requirements.

The Israeli Supreme Court ruled that financial backers taking over failed real estate projects must compensate apartment buyers for delivery delays, altering rescue project economics.

Character.AI, once valued at a billion dollars, faces bankruptcy and potential closure following lawsuits linking its virtual companion chatbots to teenage suicide cases.

AI pioneer Character.AI has filed for Chapter 11 bankruptcy in the US and agreed to sell assets to Disney for $20 million, marking a dramatic fall for a firm once valued in the billions.

American health-focused restaurant chain True Food Kitchen filed for Chapter 11 bankruptcy, closing 12 unprofitable branches while securing $20 million in emergency DIP financing.

The collapse of veteran Israeli contractor Neta Lifshitz over a 79 million shekel debt highlights severe financial pressures and shrinking profit margins in the real estate sector, despite strong apartment sales.

Danish biogas leader Lundsby Renewable Solutions has filed for bankruptcy following heavy losses on a Finnish project, accumulating a 70 million crown deficit.

American exporter Anderson Hay faces collapse after major lender PGIM rejected its restructuring plan over a $15 million debt dispute, prompting a crucial court hearing.

Phoenix American Hospitality, manager of Hilton and Marriott-branded hotels, filed for bankruptcy in Texas following an SEC fraud settlement over an $86 million scheme.

Bankrupt real estate entrepreneur Oren Kobi has asked the Tel Aviv District Court to reassess a 30,000 NIS monthly payment order, citing zero earning capacity due to house arrest and business bans.

Elon Musk warned that the US is heading toward bankruptcy amid a surging national debt, arguing that only major AI advancements can prevent financial collapse.

Iowa business owner Henry Schappert was sentenced to 24 months in federal prison for COVID-19 relief fraud and bankruptcy concealment.

Romanian airline AnimaWings has filed for bankruptcy, leaving hundreds of Israeli tourists stranded in Bucharest with canceled return flights and mounting expenses.

Leslie's, the largest U.S. pool supply retail chain, filed for Chapter 11 bankruptcy. The firm will wipe out $685 million in debt, close 76 stores, and secure $150 million in new financing.

Spanish low-cost carrier Volotea has filed for creditor protection in Barcelona due to soaring jet fuel prices amid Middle East conflict, joining a growing list of collapsing global airlines.

A Village Inn franchise in Florida filed for Chapter 11 bankruptcy with over $500,000 in debt, citing hurricane impacts, declining sales, and rising costs.

California's oldest family winery, Gundlach Bundschu, has filed for Chapter 11 bankruptcy with nearly $40 million in debt, citing post-pandemic industry struggles.

American fried chicken chain Yardbird filed for Chapter 11 bankruptcy with $25 million in debt, closing several locations while keeping remaining restaurants open during restructuring.

Israel's Supreme Court dismissed an appeal by former real estate developer Oren Kobi, upholding a monthly 30,000 shekel payment order in his bankruptcy case amid multi-million shekel debts.

The Tel Aviv District Court ruled that a dividend paid to Kardan Israel shareholder Yosef Greenfeld after his bankruptcy arrangement does not constitute asset concealment.

A US bankruptcy court approved the Chapter 11 plan for CVS subsidiary Omnicare, ensuring full creditor repayment, a $250 million sale, and a major DOJ settlement.

Bravo! Italian Kitchen closed its Knoxville branch following its parent company's Chapter 11 bankruptcy filing, revealing over $50 million in liabilities and unpaid debts.

Gordon Companies Inc., owner of Christmas Central and major holiday brands, has filed for Chapter 11 bankruptcy in New York with debts up to $50 million.

The Nekudat Teva health food chain in Israel has closed all nine stores and filed for a stay of proceedings with 14 million shekels in debt, citing the prolonged reserve duty of its co-owner in Gaza and economic pressures.

Pittsburgh's historic Penn Brewery has been acquired by a new investor group after filing for bankruptcy in March 2026, saving the 40-year-old institution from liquidation.

A US federal bankruptcy court ordered Humble Baron Inc., operator of the world's longest bar in Tennessee, to liquidate under Chapter 7 following massive financial irregularities and chronic multi-million dollar losses.

Air Baltic has filed for Chapter 11 bankruptcy protection in New York due to soaring jet fuel prices driven by the Iran conflict, securing a 350 million euro financing deal while flights continue as scheduled.

Kitchen Consigliere, a New Jersey mafia-themed Italian restaurant owned by ex-mobster Angelo Lutz, has filed for Chapter 11 bankruptcy with debts reaching up to $500,000.

Less than a year after his release from prison, the former owner of a New York insurance agency has filed for bankruptcy. Among the creditors are defrauded insurance companies, tax authorities, and banks.

The furniture manufacturer, which employs hundreds of workers, has filed for creditor protection under Chapter 11. Despite market concerns, the company has received legal approval to continue paying employee salaries and benefits.

A bankruptcy hearing for contractor Gilad Rubinsky turned into a confrontation with dozens of angry customers and former employees. Allegations suggest that funds collected for unperformed work were spent on gambling.

Get Fresh Estonia has encountered a severe financial crisis and filed for insolvency. CEO Andero Keronen admitted: "We realized that our situation is worse than we thought."

Both paths are designed to deal with obligations that cannot be paid as scheduled. A lawyer explains when it is worth reaching an arrangement and when an insolvency proceeding might be more appropriate.

Noble Supply & Logistics, a leading supplier to the US government, has filed for bankruptcy protection. The company faced severe difficulties after a major Department of Defense contract was abruptly shortened, leaving it with $100 million in stranded inventory.

Former employees have petitioned the court to liquidate the agro-tech company Vertical Field, controlled by the Mirilashvili family. Simultaneously, a legal battle is ongoing regarding a $1.5 million loan, with the debt now reaching approximately 7 million shekels.

The Commercial Court of Rio de Janeiro has ruled that the Mangius Group (Refit), a leading Brazilian oil refining and fuel distribution firm, will enter full bankruptcy proceedings after its judicial recovery process was terminated.

No Bull Mattress has filed for creditor protection due to a sharp drop in revenue, inflation, and competition from online brands. An analysis of the debts and market figures behind the industry crisis.

After four decades, Hollywood legend Phil Tippett is closing his California studio following a bankruptcy process. Rare collectibles were sold at a massive liquidation event, but the Oscars remain with him: "I will die with the sword in my hand."

Biomedical company BioXcel has filed for bankruptcy protection. Pharma giant Teva is serving as the stalking horse bidder in the auction, on the way to a potential acquisition of revolutionary AI-based drugs.

The end of a drama lasting more than a decade: a court in Brazil has finally approved the bankruptcy of telecom giant Oi and rejected the banks' appeals. Despite the collapse, the company will continue to operate temporarily to prevent the shutdown of essential services; initial liquidation procedures have begun.

The Tel Aviv District Court has appointed Adv. Gil Oren as the settlement manager for Papaya Gaming and granted a temporary stay of proceedings. The judge emphasized that the debt settlement plan for the $718 million liability must include owner contributions and potential investor involvement.

Despite growth in the industry, a wave of collapses is hitting sleep retailers in the US. Now, the low-cost chain No Bull Mattress is joining Chapter 11 proceedings after accumulating debts of about $2.8 million.

During insolvency proceedings, a debtor inherited a share of an apartment that was at risk of forfeiture. Through a court-approved creditors' arrangement, he successfully redeemed his rights to the property.

The British company Welink, operator of Portugal's largest solar power plant, has entered insolvency proceedings. The collapse follows a decline in electricity prices, severe malfunctions, and a 143 million euro lawsuit from a Chinese contractor.

The renowned landscaping company Ameri-Pride, operating for 35 years in Florida, has filed for bankruptcy protection following massive debts of up to $10 million.

A rare rehabilitation plan has been approved for a person who accumulated a massive debt and entered insolvency proceedings. The court in Rishon LeZion accepted the agreement of the parties, and the debt will be closed within two years.

Louis Wai-Hung lost all his assets during the financial crisis and declared bankruptcy in 1999. After building an agriculture and food empire in Malaysia, he presents his new complex, addresses rumors about his net worth with humor, and discusses his recovery from a stroke.

Despite the recovery of the men's fashion market since COVID, the "Peter Manning New York" fashion chain was forced to file for bankruptcy following a massive lawsuit by a supplier over unpaid invoices.

The court in Guangzhou accepted the request of the local commercial bank to initiate bankruptcy and liquidation proceedings against the real estate arm of the Evergrande Group. The dramatic decision comes just one day after the company's founder was sentenced to life imprisonment.