Boston.com | Spirit says it’s going out of business, ending operations immediately by Associated Press

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Spirit Airlines announced it is immediately winding down operations after 34 years, canceling all flights and ending customer service while promising refunds but no assistance in rebooking. The airline’s collapse follows years of financial strain, including two bankruptcy filings—first in November 2024 after losing more than $2.5 billion since 2020, and again in August 2025 with $8.1 billion in debt—exacerbated by rising fuel costs and the COVID‑19 pandemic. A possible Trump‑backed government bailout was considered but never materialized, and the Transportation Secretary said travelers could obtain limited special fares on other carriers and should check credit‑card or insurance policies for refunds. The shutdown threatens roughly 17,000 jobs and will likely hurt budget‑conscious travelers, especially in markets where Spirit had a strong presence such as Las Vegas, Fort Lauderdale and Orlando.

Read more: https://www.boston.com/news/business/2026/05/02/spirit-says-its-going-out-of-business-ending-operations-immediately/

#SpiritAirlines #Chapter11 #business #nationalnews #SeanDuffy

Smokey Bones Restaurant Chain Faces Widespread Shutdowns Amid Bankruptcy Proceedings

Smokey Bones restaurants are closing in many US states starting April 28, 2026, because of bankruptcy. This affects employees and customers.

#SmokeyBones, #RestaurantClosures, #Bankruptcy, #TwinHospitality, #Chapter11

https://newsletter.tf/smokey-bones-restaurant-closures-bankruptcy-april-2026/

Many Smokey Bones restaurants have closed suddenly. This is part of bankruptcy plans by the parent company, Twin Hospitality Group.

#SmokeyBones, #RestaurantClosures, #Bankruptcy, #TwinHospitality, #Chapter11
https://newsletter.tf/smokey-bones-restaurant-closures-bankruptcy-april-2026/

QVC Group, Whose Networks Popularized Shopping On TV, Files For Chapter 11 Bankruptcy
#News #Bankruptcy #Chapter11 #HomeShoppingNetwork #HSN #LibertyMedia #Lineartv #QVC

https://deadline.com/2026/04/qvc-group-home-shopping-tv-chapter-11-bankruptcy-1236864715/

Yahoo Finance | Saks Global plans to exit bankruptcy this summer with $500m funding

Saks Global is preparing to leave Chapter 11 this summer after reaching an agreement with a group of senior secured bondholders for $500m in exit financing. The retailer said it has entered into a restructuring support agreement with an ad hoc group of those bondholders, with the new funding intended to support the business as it transitions out of bankruptcy protection. The company added that the commitment forms part of a broader $1.7bn debtor-in-possession financing package put in place to maintain operations during the restructuring.

Saks Global, owner of Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, said the latest agreement is intended to provide suppliers with greater confidence around payment for merchandise delivered to its luxury department stores. The company filed for bankruptcy protection on 14 January and has since implemented operational changes, including closing underperforming locations. Following emergence, the retailer said it plans to operate with a “right-sized capital structure” and sufficient liquidity, supported by a streamlined store footprint, separate e-commerce platforms and closer relationships with luxury brand partners.

Saks Global CEO Geoffroy van Raemdonck said: “As we advance the restructuring process and position Saks Global for the future, our focus remains on strengthening our brand partner relationships, and delivering an expertly curated product assortment and personalised service for our luxury customers across Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.” Saks Global also reported progress with vendors, saying more than 650 suppliers that had paused shipments have resumed deliveries since the filing. It said those shipments represent more than $1.5bn in retail receipts and account for over 90% of the inventory expected for the first quarter of fiscal 2026, which ends 2 May. Inventory receipts in March were reported to be 18% higher than the same month a year earlier, linked to stronger customer activity, citing a 6% rise in spend per store visit and an 11% increase in online conversion rates year-on-year. It also said full-price selling performance improved across its luxury banners. Saks Global said it continues talks with financial stakeholders on a Plan of Reorganisation and expects to file the plan in the coming weeks.

Read more: https://finance.yahoo.com/markets/stocks/articles/saks-global-plans-exit-bankruptcy-093849937.html

#saksglobal #chapter11 #bondholders #planofreorganisation #luxurydepartmentstores

#TwinPeaks, #SmokeyBones parent company files for #Chapter11 #bankruptcy

https://www.10tv.com/article/news/nation-world/twin-peaks-bankruptcy-filing/507-6e29c0b5-a635-4361-8eeb-03a162e44437

#Lodi CA based Pacific Coast Producers to take over Del Monte / S&W cannery brands after #DelMonte filed for #bankruptcy on July 1st and no one wanted #Modesto #cannery

According to the Modesto Bee, the Del Monte cannery employed about 600 fulltime and another 1200 seasonal #workers.

Daniel Bays, president of the #Apricot Producers of #California, told the Bee that Del Monte canned as much as 7,000 tons of the #fruit 25 years ago but was down to 465 tons last year.

info RE: the #chapter11 process is available at http://cases.stretto.com/DelMonteFoods.

https://www.lodinews.com/news/article_0c01c14b-4219-4f07-93b8-4299b9debe03.html