Retailer Gymboree files for bankruptcy
201707.31
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Retailer Gymboree files for bankruptcy

July 10, 2017 Following in the steps of other troubled retailers, Gymboree filed for bankruptcy protection in an effort to slash $1 billion of its $1.4 billion in debt. They will stay in business due to an agreement with their lenders as they restructure the organization even borrowing $35 million more to finance operations. Of…

Dance Moms star sentenced to prison
201706.30
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Dance Moms star sentenced to prison

June 30, 2017 In late 2015, Miller was charged with hiding hundreds of thousands of dollars after filing for Chapter 11 bankruptcy three years prior. She was also charged with smuggling in over $100,000 in foreign currency into the country without legally declaring it to customs. Miller pled guilty to bankruptcy fraud in the summer…

Retail Bankruptcies Expected to Peak in 2017
201705.20
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Retail Bankruptcies Expected to Peak in 2017

May 20, 2017 As of April, nine major retailers have already filed for bankruptcy in 2017, which will result in hundreds of stores closing. Retailers are running out of cash and are quickly approaching recessionary levels. Those that are staying in business are shutting down a record number of stores. Over the next few months,…

Abby Lee Miller faces fraud charges
201702.20
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Abby Lee Miller faces fraud charges

February 20, 2017 The star of “Dance Moms,” Abby Lee Miller, has much more trouble on her hands than dealing with the ultra-competitive moms and talented dance students on her hit reality television show. In June of 2016 in federal court, Miller pleaded guilty to bankruptcy fraud. Her sentencing hearing began on January 20 and…

Court Agrees to Terms of Teresa Giudice’s Bankruptcy
201701.31
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Court Agrees to Terms of Teresa Giudice’s Bankruptcy

January 31, 2017 “Real Housewives of New Jersey” star, Teresa Giudice, has — for the moment — some breathing room. In December 2016, she reached a settlement with her creditors that has been approved by the U.S. Bankruptcy court in Newark, NJ. This settlement allows her to keep 55 percent of any potential winnings from…

Golfsmith Bankruptcy – 59 Stores to Close
201612.20
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Golfsmith Bankruptcy – 59 Stores to Close

December 20, 2016 In the buyout of Golfsmith from Dick’s Sporting Goods, 59 stores across the nation, including nine in California, are slated to close during the next few months, according to information obtained from a bankruptcy auction. As of November 2016, the chain had 109 stores in the country, but the new owners planned…

Serial bankruptcy filer strikes again
201512.07
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Serial bankruptcy filer strikes again

December 7, 2015 On Nov. 10, 2015, a Florida man filed his 15th bankruptcy petition since 2002, just weeks after his ban on filing ended. He might well own the notorious title of Tampa Bay’s most frequent bankruptcy filer. His previous filings effectively avoided foreclosure on his residence for more than a decade. He now…

Bankrupt Former NFL Players
201505.13
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Bankrupt Former NFL Players

May 13, 2015 While professional athletes such as NFL players might demonstrate their talents on the field, many struggle with even basic money-management skills. They have focused on improving prowess in their sport of choice and as a result, have little understanding of basic finances. Often times they poured money into family and friends during their heyday when it seemed the money would…