American Airlines Plans to Grow Out of Bankruptcy

AMR Corp., which filed bankruptcy in December 2011, recently announced the deep cuts that most consultants had long predicted. AMR said it is eliminating 13,000 jobs, terminating its four pension plans, grounding older planes and restructuring supplier contracts, in hopes of saving $2 billion in operational expenses. The job cuts are not news in airline […]

Read More

Hostess Preparing for Bankruptcy

It was announced that Hostess Brand, Inc., the Irving, Texas based wholesale baker, was preparing for chapter 11 bankruptcy this week.  This is the Company’s second bankruptcy in the last two years.  The bankruptcy may allow the Company to reduce its debt and renegotiate its labor contracts. Hostess has been facing cash constraints, despite recent investments of $40 million […]

Read More

Friendly’s to Emerge from Bankruptcy

Friendly Ice Cream Corp is set to emerge from bankruptcy, after a bankruptcy judge approved the sale of the company to its prior owner, a private equity firm, Sun Capital Partners Inc., in exchange for debt forgiveness.  Friendly’s announced that it would be closing 37 locations.   

Read More