Bankruptcy
Fashion chains Onot and Jump file urgent application for stay of proceedings
The companies request to operate the 33 remaining stores for 60 days in order to urgently locate a buyer and save the jobs of about 100 employees.
How New York’s ‘summer camp kings’ left Israeli investors burned
A tsunami of bankruptcies threatens the global economy
Spirit Airlines begins 'orderly' shutdown, cancels all flights
El Al reveals Q3 figures: $147m losses, $125m deficit, no progress on state loan
The Israeli airline reports a drop of 94% in earnings since July • future of air travel remains uncertain, Norwegian Air Shuttle ASA files for bankruptcy
Hertz files for US bankruptcy protection as car rentals evaporate
With nearly $19 billion of debt and roughly 38,000 employees worldwide as of the end of 2019, Hertz is among the largest companies to be undone by the pandemic.
J.C. Penney to file for bankruptcy as soon as next week
A bankruptcy filing would cap a long decline for the iconic 118-year-old department store chain, which struggled with a nearly $4-billion debt load.
Tel Aviv police shut down tent protest by self-employed workers
The protest was put up throughout the weekend by the employees whose businesses collapsed financially because of the coronavirus restrictions.
Top ex-gov’t bankruptcy official tells Jpost how to save the economy
A combination of government support, encouraging negotiated solutions to financial dead-ends and pushing Israel’s bankruptcy laws closer to the US model may all be needed
National Museum of American Jewish History files for bankruptcy
Despite the bankruptcy protection filing, the museum will continue to operate as normal, and while there will be reorganization, there will not be any layoffs.
Barney’s stores to be sold off in pieces after nearly century in business
Barney Pressman, whose father owned a clothing store, opened his first department store in Manhattan in 1923.
Mideast tourism hit by collapse of British holiday firm, UAE unaffected
Worldwide about 600,000 tourists have been stranded by the collapse.
OxyContin maker Purdue Pharma files for bankruptcy protection
Purdue's board met Sunday evening to approve the long-expected bankruptcy filing, which the company is pursuing to restructure under terms of a proposal to settle the widespread litigation.
UK restaurant sector sees 20% increase in insolvency
A reported 825 restaurants and bars closed down due to lack of finances in 2016 and this number increased to 1,000 in 2017.
