New York & Company owner RTW Retailwinds warns bankruptcy filing imminent


New York & Company store in North Brunswick Township, New Jersey.

Michael Brochstein | SOPA Images | Getty Images

New York & Company parent RTW Retailwinds on Wednesday morning warned about its ability to continue as a going concern, and that it might be preparing to file for Chapter 11 bankruptcy protection, hit hard by the Covid-19 crisis. 

It said in an 8K filing with the Securities and Exchange Commission that it is in the process of finalizing a 10K filing with its auditor that will reflect, among other things, “a substantial doubt” about its ability to continue as a

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Hertz bankruptcy, distressed rental car market hurts U.S. automakers


Signage for Hertz Global Holdings Inc. stands at a rental location in Berkeley, California, U.S., on Tuesday, May 5, 2020.

David Paul Morris | Bloomberg | Getty Images

Ongoing distress in the rental car market due to the coronavirus pandemic, highlighted by Chapter 11 bankruptcy filings of Hertz and the parent company of Advantage Rent A Car in the past week, will place additional pressure on the already troubled U.S. auto industry.

New vehicle sales to rental car companies accounted for about 10%, or 1.7 million vehicles, last year. That demand came to a grinding halt due to the coronavirus

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Retailer Tuesday Morning files for bankruptcy, to shut 230 stores


Tuesday Morning at the Sunset Esplanade in Hillsboro, Oregon.

M.O. Stevens | Wikipedia CC

Home goods retailer Tuesday Morning filed for Chapter 11 bankruptcy protection on Wednesday morning and plans to shut a third of its nearly 700 stores. 

The Dallas-based company said the coronavirus pandemic strained its business immensely, adding it to a growing list of retailers that have been forced to file during the crisis, including department store chains Neiman Marcus, Stage Stores and J.C. Penney, and apparel maker J.Crew. 

“The prolonged and unexpected closures of our stores in response to COVID-19 has had severe consequences on our

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LATAM becomes largest airline driven to bankruptcy by coronavirus


(Reuters) – LATAM Airlines Group (LTM.SN), the continent’s largest carrier, filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic.

A passenger plane arrives during a general quarantine amid the spread of the coronavirus disease (COVID-19), at the Arturo Merino Benitez International Airport, in Santiago, Chile May 26, 2020. REUTERS/Ivan Alvarado

The filing highlights the financial weakness of Latin America’s carriers, following a similar bankruptcy earlier this month by the region’s No. 2 airline, Avianca Holdings AVT_p.CN.

But unlike Avianca, which experienced management turmoil

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