It’s time to sit back, relax and enjoy a little joe …Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.I hope everybody had an enjoyable week. Without further ado, let’s get right to this week’s commentary …Let your hook be always cast. In the pool where you least expect it, will be fish.— OvidCredits and DebitsDebit: Did you see this? Rite Aid, once one of America’s biggest pharmacy chains, shuttered its rema ...

When a trucking company shuts down, it usually has a wind-down period when it delivers any remaining loads in its possession. Not doing so leaves thousands of people in limbo, since they don't know whether their orders will ever arrive. The problem can be even worse when items being delivered have an expiration date or might otherwise become less valuable, or even worthless, if they sit. In some cases, items in mid-transit become an even bigger hassle, as customers have paid for the delivery, but whoever ...

Mutha Trucker, a YouTube news source covering the trucking industry has reported that Montgomery Transport LLC, a Birmingham, Alabama-based trucking company, filed for Chapter 7 bankruptcy and ceased operations effective immediately. 1000 employees out of work as trucker files for bankruptcy The sudden shutdown has left hundreds of drivers stranded across America as the company’s leadership instructed them to halt operations. This abrupt closure represents a significant disruption in the trucking industry ...

A fund controlled by a unit of Jefferies Financial Group Inc. sunk nearly a quarter of its $3 billion trade finance portfolio into receivables tied to auto parts supplier First Brands Group Inc. Jefferies’ own investment in that fund along with some First Brands loans it bought brings its total exposure to the now-bankrupt firm to $161 million, the bank disclosed on Wednesday. Most Read from Bloomberg The exposure is mostly through Point Bonita Capital, a division of Jefferies’ Leucadia Asset Management ...

Farm bankruptcies in America have risen sharply this year, but remain below pre-pandemic levels. Yet things could soon get worse https://t.co/x8lZw8WBXi ...

Omnicare, a former Cincinnati-based Fortune 500 company, has filed for Chapter 11 bankruptcy protection in Texas after being hit with a nearly $1 billion civil judgment this summer. Drugstore giant CVS Health, the parent company that acquired Omnicare for $12.7 billion in 2015, hinted it might sell off the specialty pharmacy services operation. “(The company) intends to use this process to address other financial challenges … to evaluate its restructuring options, including the implementation of a standal ...

Core Insights - The article discusses the implications of personal bankruptcy, highlighting a nearly 12% year-over-year increase in bankruptcy filings in the U.S. as of June 30, 2025, and presents reasons to avoid bankruptcy as a financial solution [2]. Financial Implications - Bankruptcy filings become public records, which can negatively impact job and housing opportunities, particularly in financial sectors [3]. - The costs associated with filing for bankruptcy can be significant, with initial fees ranging from $313 to $338, and potential attorney fees around $4,000, in addition to credit counseling costs of $10 to $50 per course [5]. - Bankruptcy severely damages credit scores, remaining on credit reports for seven to ten years, which can hinder loan qualifications, increase insurance rates, and complicate job or apartment searches [6][7]. Homeownership Challenges - Bankruptcy can make it more difficult to achieve homeownership, as lenders may be less willing to work with individuals who have a bankruptcy on their credit report [8].

Sam Bankman-Fried stated in exclusive prison interviews that handing FTX to CEO John Ray III was “the single biggest mistake I made by far,” claiming he signed over control at 4:24 am on November 11, 2022, under extreme pressure from Sullivan & Cromwell and company advisers. According to a report from Mother Jones, the convicted FTX founder maintains that he never defrauded anyone and that the company was never bankrupt, despite a jury finding him guilty of seven counts of fraud and money laundering in Nov ...

Hey Scott. Yeah, it's the private credit side of the business that has seen a real sentiment shift. Apollo, Aries, Blue Owl, and KKR seeing significant declines week to date.While those more exposed to private equity think TPG and Carile, they've held up okay. Two high-profile bankruptcies in the auto finance space leading to a broad-based selloff in the publicly traded alternatives firms. and First Brands bankruptcies, each within the last few weeks, have shed a new light on the risks of overlever and subp ...

Rite Aid, a once-national pharmacy chain popular for its in-store ice cream scoops, has closed its doors. The company announced all its stores have "now closed" in a statement posted to its website. “We thank our loyal customers for their many years of support,” the statement reads. Rite Aid announced it filed for Chapter 11 bankruptcy in May, the second time since October 2023. As part of its bankruptcy plan, the chain announced it would be closing all of its stores. Rite Aid CEO Matt Schroeder said in ...