BitRiver, one of Russia’s largest bitcoin miners, is facing potential bankruptcy after a court launched insolvency proceedings over unpaid debts. The company has been hit by asset freezes, rising power debts, data center shutdowns, and management exits, while its founder Igor Runets has reportedly been placed under house arrest on tax charges. https://t.co/VIBZ78D01N ...

By Nicholas P. Brown NEW YORK, Jan 30 (Reuters) - Bankrupt retailer Saks Global is ending its "Saks on Amazon" partnership with e-commerce giant Amazon.com, a source ​with direct knowledge of the decision said on Friday. The partnership was already ‌in dire straits when Saks filed for bankruptcy earlier this month, but the retailer had yet to ‌say outright it was exercising its right under Chapter 11 bankruptcy to reject the contract. On Friday, a source said Saks will wind down its Saks on Amazon sto ...

Amazon and luxury groups including LVMH and Chanel will serve on the official committee of unsecured creditors in the bankruptcy of Saks Global Enterprises, positioning them to influence how the retailer restructures. https://t.co/ppXXI4mGhd ...

Core Viewpoint - Twin Hospitality Group, the parent company of Twin Peaks, has filed for Chapter 11 bankruptcy, following a trend in the casual dining sector where similar establishments like Hooters have also faced financial difficulties [1][3]. Group 1: Bankruptcy Filing - Twin Hospitality Group filed for Chapter 11 bankruptcy on January 26, 2025, in the U.S. Bankruptcy Court for the Southern District of Texas [1]. - The bankruptcy filing comes shortly after Fat Brands, which owns Twin Hospitality Group, began converting Smokey Bones locations into Twin Peaks [2]. - The first hearing for the bankruptcy filing is scheduled for January 28, 2025 [3]. Group 2: Company Operations - Twin Peaks operates 114 locations across the United States and Mexico and is expected to remain open during the bankruptcy process [4]. - The company has faced challenging market conditions that have hindered its ability to restructure debt, despite the brand's strength [5]. Group 3: Industry Context - Hooters filed for Chapter 11 bankruptcy in March 2025, addressing $376 million in debt, and closed over 30 locations in June 2025 [3]. - The casual dining sector is experiencing significant challenges, as evidenced by the recent bankruptcies and closures of multiple restaurant chains [5].

Core Insights - FAT Brands has filed for Chapter 11 bankruptcy protection, aiming to reject leases for several closed company-owned restaurants, including locations for Johnny Rockets, Smokey Bones, and Yalla Mediterranean [1][4] - The company operates 18 restaurant chains with over 2,200 locations globally, primarily franchised, and directly owns approximately 150 locations [2] - CEO Andy Wiederhorn expressed confidence in the company's resilience and long-term growth potential, stating that the bankruptcy process will help strengthen its capital structure [3] Company Operations - FAT Brands has announced the closure of 14 Smokey Bones locations, 2 Johnny Rockets, and 5 Yalla Mediterranean locations, with the latter two only in California [4] - The company expects its restaurants to continue operating normally during the bankruptcy process [4] Location Details - Specific closures include locations in California, Florida, Georgia, Illinois, Massachusetts, Michigan, Ohio, Pennsylvania, and Virginia [6][9][12]

Pat McGrath Labs files for Chapter 11 to avoid a forced sale https://t.co/TlCoOoepE3 ...

Core Viewpoint - Luminar's lidar business has attracted a higher bid of $33 million from MicroVision, surpassing the previous bid of $22 million from Quantum Computing Inc. as the auction concludes in the company's bankruptcy case [1][2]. Group 1: Bidding Process - MicroVision's bid of $33 million exceeds Quantum Computing Inc.'s latest bid of $28 million, which was initially $22 million [2]. - The sale of Luminar's lidar business is pending approval from the judge overseeing the bankruptcy case, with a hearing scheduled for Tuesday afternoon [2]. Group 2: Company Background and Legal Issues - It remains uncertain whether Luminar's founder and former CEO Austin Russell submitted a bid for the lidar assets, although he had previously expressed interest [3]. - Russell and Luminar have been involved in legal disputes regarding a subpoena, with the company considering legal action against him related to his resignation following an ethics inquiry [4]. - Russell has agreed to comply with the subpoena, and a protective order regarding his personal information has been established [5]. Group 3: Bankruptcy Case Progress - The potential sale of the lidar assets could expedite the resolution of Luminar's bankruptcy case, which was filed in December [5]. - Luminar has already reached an agreement to sell its semiconductor division to Quantum Computing Inc. for $110 million [5].

Core Viewpoint - FAT Brands and its affiliates, including Twin Hospitality, have filed for Chapter 11 bankruptcy due to significant liabilities and liquidity issues [1] Group 1: Bankruptcy Filing Details - The bankruptcy filing estimates both liabilities and assets in the range of $1 to $10 billion and requests joint administration of all FAT Brands affiliates [2] - The filing includes brands such as Fazoli's, Round Table Pizza, Johnny Rockets, Smokey Bones, Fatburger, and Fog Cutter Capital [2] Group 2: Strategic Decisions and Financial Context - FAT Brands sought strategic alternatives, including restructuring options, and determined that bankruptcy protection was in the best interest of stakeholders [3] - The filing follows a lawsuit from the largest bondholder, Investor 352 Fund, for $109 million related to Class B Common stock tied to Twin Peaks [3] - Last November, FAT Brands owed $1.26 billion to debtors, which was declared immediately due, and the company indicated it lacked the liquidity to repay these loans [4] Group 3: Leadership and Future Plans - CEO Andy Wiederhorn mentioned that the debt is not guaranteed by the parent company and has been in discussions with bondholders for restructuring [4] - The company’s acquisition strategy in 2022 and the spinoff of Twin Peaks were aimed at reducing debt costs [4] - A federal criminal investigation into Wiederhorn for fraud and money laundering, which ended favorably for him, further strained the company's financial resources [5] Group 4: Bankruptcy Process Goals - In a letter to franchisees, Wiederhorn stated that the bankruptcy process will be used to optimize capital structure, reduce debt obligations, and enhance financial flexibility for future growth [6] - The company will continue to collect and pay royalties and advertising payments during the bankruptcy process [6]

Turkey is planning to tighten access to bankruptcy protections after a surge in applications, as authorities seek to curb what they say is misuse of a key debt-restructuring tool https://t.co/BPUXkQWikQ ...

Hundreds of U.S. store closures marked the start of 2026 — then came a bigger shock: Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman filed for bankruptcy. The headlines are reigniting concerns about the state of American retail. https://t.co/NnCQi28kxJ ...