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    HOUSTON (AP) — Infowars host Alex Jones filed for personal bankruptcy protection in Texas on Friday as he faces nearly $1.5 billion in court judgments over conspiracy theories he spread about the Sandy Hook school massacre. Jones filed for Chapter 11 bankruptcy protection in bankruptcy court in Houston. His filing lists $1 billion to $10 billion in liabilities. The bankruptcy filing comes as Jones faces court orders to pay nearly $1.5 billion in damages to relatives of victims of the 2012 Sandy Hook Elementary School shooting for calling the massacre a hoax. An attorney representing Jones in the bankruptcy case did not immediately return a message seeking comment. A Connecticut jury in October awarded the families $965 million in compensatory damages, and a judge later tacked on another $473 million in punitive damages. Earlier in the year, a Texas jury awarded the parents of a child killed in the shooting $49 million in damages. Jones has laughed at the awards on his Infowars show, saying he has less than $2 million to his name and won’t be able to pay...
    New York (CNN Business)A Texas judge on Monday postponed a trial that will determine how much right-wing conspiracy theorist Alex Jones will have to pay the families of two Sandy Hook shooting victims. The trial had been set to start next week.The delay came after three companies tied to Jones, including the fringe media organization Infowars, sought bankruptcy protection earlier in the week -- a move that can temporarily pause civil litigation against businesses.Jones, who is also being sued by the families of Sandy Hook victims in Connecticut, was found legally responsible in October for false claims he made about the tragedy that claimed 26 lives. The judge in the case, Travis County District Court Judge Maya Guerra Gamble, issued default judgments against Jones because he refused to comply with court orders. Right-wing conspiracy outlet Infowars files for bankruptcy protection as founder Alex Jones faces defamation suitsJones baselessly said in the aftermath of the Sandy Hook shooting that the incident was staged. Facing lawsuits, Jones has since acknowledged the shooting occurred. He said in a 2019 sworn deposition that a...
    “I won’t sleep really until the next game”: Bill Walton is hard on himself as a broadcaster Things You Should Never Buy at Target Best & Worst Refinance Mortgage Companies of 2021 Ad Microsoft Seniors Are Getting These Unsold 2020 SUVs For Dirt Cheap Ad Microsoft Full screen 1/12 SLIDES © Kmpzzz / Shutterstock.com 11 Restaurants That Filed for Bankruptcy Amid COVID-19 When the coronavirus pandemic finally ends, you might want to celebrate with a meal at your favorite restaurant. But will the eatery still be in business when that day arrives? Since the beginning of the pandemic, more than 110,000 restaurants across the U.S. have closed their doors permanently or long-term, according to the National Restaurant Association. That represents 17% of all restaurants, putting the industry into “an economic free fall,” the association says. The damage has impacted mom-and-pop restaurants and big chains alike. Following are some of the...
    London (CNN Business)Norwegian Air is seeking protection from its creditors as it attempts to restructure its business and survive the coronavirus pandemic.The budget carrier said in a statement on Wednesday that it has decided to file for examinership in Ireland, which is where its aircraft assets are held. Examinership allows companies to seek a court's protection from creditors for up to 100 days, and is the rough equivalent of Chapter 11 bankruptcy in the United States."The purpose of the process is to reduce debt, rightsize the fleet and secure new capital," Norwegian Air said. The process is expected to take up to five months, it added."Seeking protection to reorganize under Irish law is a decision that we have taken to secure the future of Norwegian for the benefit of our employees, customers and investors," CEO Jacob Schram said. "Our aim is to find solutions with our stakeholders that will allow us to emerge as a financially stronger and secure airline."Norwegian Air was founded in 1993 and began a rapid expansion nearly a decade ago, seeking to apply the business model...
    WILBRAHAM, Mass. (AP) — Friendly’s Restaurants, an East Coast dining chain known for its sundaes, is filing for bankruptcy protection. The company, which runs the restaurants under the parent company FIC Restaurants Inc., will sell substantially all of its assets to the restaurant company, Amici Partners Group. All 130 of its locations will remain open while in restructures under Chapter 11 bankruptcy protection, the company said late Sunday. The pandemic has hit the restaurant sector hard, particularly those that rely on people in their dining rooms. At least 10 chains have filed for bankruptcy protection since the pandemic began this year. But Friendly’s Restaurants, like most other chains that have stumbled this year, had been struggling. The Wilbraham, Massachusetts, company filed for bankruptcy protection in 2011 as well. Others filing for protection this year include the U.S. arm of Le Pain Quotidien, CEC Entertainment, the parent company of Chuck E. Cheese, California Pizza Kitchen, Sizzler and Ruby Tuesday. Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, written...
    For decades GNC has been the one-stop shop for vitamins, muscle-building protein powder packs and practically every variety of weight-loss product. From New England to Southern California, chances are if you ever needed a potassium boost, there was a GNC at a nearby mall.  But the company that urged Americans to "Live Well" has fallen on tough times. In June, GNC filed for protection from creditors in bankruptcy court, with plans to close about 1,000 locations — more than 10% of its global footprint.  The vitamin and dietary supplement market in the U.S. is worth almost $50 billion, according to the Nutrition Business Journal. Brick-and-mortar retailers like GNC, The Vitamin Shoppe and Vitamin World have faced an onslaught of competition from big-box retailers like Walmart and Target, grocery stores like Kroger and Whole Foods and e-commerce giants like Amazon. After years of falling sales and mounting debt, GNC saw a steep drop in revenue after the coronavirus pandemic forced thousands of its locations to temporarily close. But anxiety around Covid-19 has actually pushed health and wellness concerns to the top of...
    WINSTON-SALEM, N.C. (AP) — K&W Cafeterias, a North Carolina-based icon of Southern comfort food for more than 80 years, has filed for Chapter 11 bankruptcy protection, a move that follows downsizing that began prior to the COVID-19 pandemic. The Winston-Salem based company filed the 80-page petition in U.S. Bankruptcy Court for the Middle District of North Carolina. The filing was first reported by the Winston-Salem Journal. Before K&W filed for bankruptcy, it closed restaurants in Chapel Hill, Goldsboro, Raleigh and Salisbury. Since celebrating its 75th anniversary in 2012, K&W has gone from 35 restaurants to 18. The newspaper reported that a Paycheck Protection Plan loan to K&W was one of the largest granted to a North Carolina business. K&W said in its PPP application that it would attempt to save at least 500 jobs with the unspecified loan. The company also was impacted by state-mandated limits on dining. While K&W regained some business during Phase Two of North Carolina's restrictions on businesses in response to the pandemic, it struggled because its primary customers are the elderly, who were told to...
    As, D-backs bring 4-game winning streaks into matchup What you should never buy at the dollar store Oil Driller Chaparral’s Files for Bankruptcy Protection (Bloomberg) -- Chaparral Energy Inc.’s filed for bankruptcy protection for the second time in four years, paving the way for bondholders to take control of the Oklahoma driller in the aftermath of sluggish oil prices. © Bloomberg An active oil pump jack operates at a parking lot in Signal Hill, California, U.S., on Tuesday, April 21, 2020. American crude surged above $13 a barrel after President Donald Trump ordered the navy to destroy any Iranian gun boats that harass American ships at sea. The company filed for Chapter 11 in U.S. Bankruptcy Court in Delaware as it seeks to restructure its balance sheet and raise new money. Almost 80% of first-lien lenders and bondholders gave their support for a proposal to swap $300 million of unsecured notes into equity, raise a $175 million reserves-based exit facility and issue $35 million of convertible notes, Chaparral said in a statement on Monday. Load Error The company...
    Fact check: Kamala Harris was part of the second integrated class in elementary school Beloved grocery stores that are gone forever Transfer VHS Tapes, Film, and Photos to Digital Ad Microsoft Motley Fool Issues Rare “All In” Buy Alert Ad Microsoft Full screen 1/12 SLIDES © Spencer Platt/Staff/Getty Images News/Getty Images North America Bankruptcy Bonuses Filing for bankruptcy is ostensibly a choice that businesses take when all other options and paths to make ends meet seem financially untenable. Yet, amid the current wave of bankruptcies sweeping the nation, there have been many high-profile, multimillion-dollar bonuses awarded to top executives of the very companies that claim they can no longer pay their bills and need protection from creditors and suppliers. A Reuters analysis of securities filings found that nearly one-third of the more than 40 large companies seeking bankruptcy protection during the coronavirus pandemic awarded significant bonuses to executives within just...
    Im totally confused: The CEO of Americas largest mall operator laments lost rent payments and lashes out at states that kept malls closed while Costco stayed open View Photos of 2021 Mercedes-Benz S-Class Interior How To Sell Your Home For The Best Price Possible Ad Microsoft 17 Ways These $20 Lights Will Upgrade Your Home Ad Microsoft Full screen 1/12 SLIDES © Spencer Platt/Staff/Getty Images News/Getty Images North America Bankruptcy Bonuses Filing for bankruptcy is ostensibly a choice that businesses take when all other options and paths to make ends meet seem financially untenable. Yet, amid the current wave of bankruptcies sweeping the nation, there have been many high-profile, multimillion-dollar bonuses awarded to top executives of the very companies that claim they can no longer pay their bills and need protection from creditors and suppliers. A Reuters analysis of securities filings found that nearly one-third of the more than 40...
    Virgin Atlantic Airways has filed for bankruptcy protection for its United States business, as it tries to nail down a £1.2 billion ($1.6 billion) rescue plan announced last month. It’s the second of Richard Branson’s airlines to do so during the COVID-19 pandemic, after Virgin Australia filed for “administration” — a form of bankruptcy in countries like Australia and England — earlier this year. Virgin Atlantic filed for Chapter 15 bankruptcy protection in the Southern District of New York on Tuesday. Chapter 15 is a way for foreign companies to let US bankruptcy courts recognize restructuring efforts happening abroad. The company is not yet going out of business or liquidating its operations, which is what Chapter 7 bankruptcy protection does. That said, Virgin Atlantic told a London court that it will run out of cash next month if the rescue plan is not approved. In particular, Virgin Atlantic is trying to renegotiate leases on most of its planes as well as loans it has taken in the past and can’t fully repay. The company has an asset...
    HOUSTON (CBSDFW.COM/CNN) — Houston-based Tailored Brands, which owns Men’s Wearhouse and Jos. A. Bank, has filed for bankruptcy, becoming the latest U.S. retail casualty of the coronavirus pandemic that wiped out demand for office attire. The company said in a statement Sunday that it has filed for Chapter 11 bankruptcy protection in a district court in Texas to implement a restructuring plan that has the support of 75% of its lenders. The plan will reduce its debt by at least $630 million and ensure it can keep operating. “Reaching an agreement with our lenders represents a critical milestone toward our goal of becoming a stronger company that has the financial and operational flexibility to compete and win in the rapidly evolving retail environment,” said CEO Dinesh Lathi. The group, which also owns Moores Clothing for Men and K&G Fashion Superstore, said it will continue to serve customers throughout the restructuring process. “Tailored Brands aims to move quickly through the process,” it added. The company has also filed motions with the court to ensure it can to continue paying employees as...
    (Reuters) - Remington Arms Co on Monday filed for Chapter 11 bankruptcy protection for the second time in two years as the U.S. gunmaker faced financial troubles partly because some retailers placed restrictions on gun sales after school shootings. The gunmaker has filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy court for Northern District of Alabama, according to the court filing. In the filing, the company listed its assets and liabilities both in the range of $100 million to $500 million. The gunmaker has filed for bankruptcy before in 2018 after sales faltered and the company had trouble meeting requirements of its lenders. It exited bankruptcy protection the same year under the ownership of its creditors. U.S. retailers have placed restrictions on gun sales after school shootings, hurting manufacturers such as Remington. A Remington Bushmaster rifle was used in the Sandy Hook elementary school shooting in Connecticut in 2012 that killed 20 children and six adults, making it central to debates over gun policy. Remington has been trying to dismiss a lawsuit filed by the families of the victims...
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