Cryptocurrency and Web3 technologies are supposed to represent the future of finance, offering a decentralized and borderless world where money, data and assets flow freely. Despite progress and setbacks, however, the advance guard of a hypothetical future-fit financial sector is fighting the same historical battles...
Most of FTX’s creditors will profit from their investments in the failed cryptocurrency exchange. That’s according to a bankruptcy agreement approved Monday (Oct. 7) by a federal court, giving 98% of FTX’s creditors approximately 119% of their claim. “Looking ahead, we are poised to return...
As Big Lots embarks on a Chapter 11 restructuring and prepares for acquisition by Nexus Capital Management, retail analysts are evaluating the company’s future amid a challenging market. They note this bankruptcy filing not only signals deep-rooted issues in Big Lots’ business model, but also...
Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept. 9) that it had entered voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, to facilitate its sale to an affiliate of Nexus Capital Management....
June 21, 2024
The relationships between FinTechs, banks and neobanks has been placed under a harsh spotlight with the recent revelations around the Synapse bankruptcy. The reaction from the industry so far has focused on the Synapse case as an isolated incident rather than a systemic issue, but it has also been the occasion for a reconsideration of […]
June 17, 2024
The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...
June 10, 2024
The drama surrounding the Synapse Financial bankruptcy continued Friday (June 7) with an afternoon court hearing in California’s Central District Bankruptcy Court, although the case appeared no closer to a...
May 14, 2024
Consumers are increasingly buying clothing from third-party digital marketplaces, forcing more retailers to close shop. Most recently, Ted Baker’s North American business announced Friday (May 10) that amid bankruptcy proceedings in the United...
November 03, 2024
Franchise Group (FRG), owner of Vitamin Shoppe and Pet Supplies Plus, is filing for bankruptcy. The company announced a restructuring plan Sunday (Nov. 3), as well as plans to shutter one of its holdings, furniture chain American Freight. “Today’s announcement to de-lever our balance sheet is a pivotal step forward in enabling our market-leading businesses […]
October 08, 2024
Most of FTX’s creditors will profit from their investments in the failed cryptocurrency exchange. That’s according to a bankruptcy agreement approved Monday (Oct. 7) by a federal court, giving 98%...
September 09, 2024
Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept. 9) that it had entered voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for...
September 03, 2024
Rite Aid has announced a leadership transition as it emerges from Chapter 11 bankruptcy. Jeffrey S. Stein has stepped down as CEO and chief restructuring officer, while the company’s executive...
