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Financially Distressed Companies

A collection of news and information related to Financially Distressed Companies published by this site and its partners.

Top Financially Distressed Companies Articles

Displaying items 111-121
  • Senators accuse GM of coverup in delayed ignition-switch recall

    Senators accuse GM of coverup in delayed ignition-switch recall
    WASHINGTON -- Senators aggressively questioned General Motors Co. Chief Executive Mary Barra on Wednesday about the years of delays in recalling vehicles with faulty ignition switches, accusing the company of a coverup to hide the problem that caused at...
  • Two bidders will vie for 1st Mariner Bank

    Two bidders will vie for 1<sup>s</sup><sup>t</sup> Mariner Bank
    1st Mariner Bank, Baltimore's largest independent bank, will go to auction Thursday morning with two bidders vying for the bank. Parent company First Mariner Bancorp is selling the bank as part of the parent's Chapter 11 bankruptcy, filed Feb. 10. The...
  • Mary Barra: GM has 'civic responsibility' to compensate crash victims

    Mary Barra: GM has 'civic responsibility' to compensate crash victims
    General Motors CEO Mary Barra said Tuesday she wants to find out if GM engineering employees executed a coverup or were merely incompetent in failing to recall a defective part linked to 13 deaths. In testimony before a House Energy and Commerce...
  • Sbarro files for second bankruptcy in three years

    Sbarro filed for bankruptcy for the second time in three years as the pizza chain watches foot traffic slow in the malls many of its restaurants occupy. The Melville, N.Y., company filed for Chapter 11 protection in U.S. Bankruptcy Court in Manhattan on...
  • Hot Dog on a Stick files for bankruptcy, cites high lease costs

    HDOS Enterprises, owner of the employee-owned Hot Dog on a Stick snack shacks ubiquitous in malls, filed for bankruptcy protection Monday, citing expensive lease costs among the factors. In its Chapter 11 filing, Hot Dog on a Stick said its total debt...
  • Twinkies, Ding Dongs at a discount: Big Lots in deal with Hostess

    Twinkies, Ding Dongs at a discount: Big Lots in deal with Hostess
    Ohio-based retailer Big Lots will soon sell Twinkies, Ding Dongs and other Hostess brand snacks at steep discounts.  The closeout chain announced Monday it will become the official discount retailer for Hostess snacks, filling a gap left by the...
  • FBI arrests two men in alleged $110-million Ponzi scheme

    FBI agents arrested the owners of a now-closed Southern California real estate investment firm for allegedly using the business to run a Ponzi scheme in which victims lost more than $110 million. John Packard, 63, of Long Beach and Michael Stewart, 66,...
  • 1st Mariner Bank heads to auction

    1st Mariner Bank heads to auction
    The future of 1st Mariner, Baltimore's largest independent bank, could be decided this week. A bankruptcy judge approved First Mariner Bancorp's request last month to sell its bank as part of the parent company's Chapter 11 bankruptcy filing. Bids for...
  • 1st Mariner Bank auction set for April

    1st Mariner Bank auction set for April
    A bankruptcy judge approved First Mariner Bancorp's request to auction off its Baltimore bank quickly, a process that drew heated objections from creditors and the U.S. trustee. Judge David E. Rice set the deadline to bid on 1st Mariner Bank for April 7,...
  • First Mariner swung to loss in 2013

    First Mariner swung to loss in 2013
    First Mariner Bancorp's losses mounted last year before the parent of 1st Mariner Bank filed for bankruptcy protection in February. The bank itself is not included in the Chapter 11 bankruptcy, and its Baltimore-based parent has stressed that bank...
  • Senators attack culture of GM

    For just a few million dollars, General Motors Co. could have replaced a defective ignition switch that ultimately has been linked to 13 deaths and is expected to cost the automaker billions in repairs, fines and litigation. GM need only have spent an...