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Thread: Business news 2020

  1. #91
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    Both companies are blaming the COVID-19 pandemic for their bankruptcies – and both companies gave millions of dollars in bonuses to their top executives prior to filing for bankruptcy. Somethin' ain't right!

    Chuck E. Cheese files for bankruptcy

    https://variety.com/2020/digital/new...cy-1234689869/

    GNC files for bankruptcy, plans to close 1200+ stores

    https://ourcommunitynow.com/news-bus...se-1200-stores

  2. #92
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    Cirque du Soleil, founded in 1984, operated six permanent shows in Las Vegas and several touring shows worldwide. All were suspended when the COVID-19 pandemic hit.

    Cirque du Soleil files for bankruptcy and cuts 3,500 jobs

    https://www.cnn.com/2020/06/29/busin...tcy/index.html

  3. #93
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    Another day, another bankruptcy.

    A huge Wendy's and Pizza Hut franchisee just filed for bankruptcy
    CNN, Jul 1 2020 10:25 AM

    NPC International, the operator of 1,200 Pizza Hut and nearly 400 Wendy's restaurants in the United States, has filed for bankruptcy. The franchisee has been dealing with coronavirus-related shutdowns, a massive debt burden of nearly $1 billion and rising labor and food costs. Pizza Hut, of which NPC is the company's largest franchisee, has also been struggling with sales recently. NPC's restaurants will continue to operate while it navigates the Chapter 11 process. The company employs nearly 40,000 people in 27 US states.

    https://www.cnn.com/2020/07/01/busin...tcy/index.html

  4. #94
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    Odwalla was founded in 1980 in Santa Cruz, California. The company, named after a character in Roscoe Mitchell's poem Illistrum, makes juices, smoothies, soy milk and energy bars – and next month will be out of business.

    Coca-Cola is shutting down Odwalla juice

    https://www.cnn.com/2020/07/01/busin...ola/index.html

  5. #95
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    Postmates was founded in May 2011 in San Francisco and offers home delivery of food, drinks, groceries, healthcare products and other items. If this all-stock deal is approved by regulators, Uber will control 30% of the food delivery market in the United States. DoorDash controls 45%.

    Uber scoops up Postmates for $2.65 billion in 'everyday' delivery push

    https://www.reuters.com/article/us-p...-idUSKBN2471GQ

  6. #96
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    Two more bankruptcy filings – and has anyone noticed Donald Trump no longer brags about our nation's "strong economy"?

    Sur La Table files for bankruptcy, will close dozens of stores

    https://www.cnn.com/2020/07/09/busin...tcy/index.html

    Brooks Brothers, founded in 1818, files for bankruptcy, will close 51 stores

    https://www.nytimes.com/2020/07/08/b...ankruptcy.html

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