Category Archives: Bankruptcy

Wet Seal In Default On Loans, Closes Stores and Fires Employees

Wet Seal gets (very little) breathing room from lenders, but trouble ahead. It has been tough for clothing retailers as dEliA*s and Deb Stores recently filed for bankruptcy. Is Wet Seal next? Today they announced that the Company was closing … Continue reading

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ECOtality May Be Considering Public Offering As Share Price, Prospects, Products Melt Down

As the worst VC firm in history (*cough*US Government*cough*) sees its portfolio dwindle again, one of the dwindlers may be preparing to raise some private money. ECOtality, Inc. is a “green” energy company and, as such, is an esteemed recipient of … Continue reading

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Psychic Friends Network Revives As A Public Company After 1998 Bankruptcy

Cue cheap joke about how they should’ve known about the legislative and regulatory changes that led to their bankrupcy . . . Looking at today’s filings, we were struck by a strange sense of déjà vu, like a presence from … Continue reading

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U.S. Stimulating Chinese Economy Again as Wanxiang Group Wins Bid for A123′s Assets

Wanxiang Group was announced as the winning bidder for A123 Systems’ assets.  A123 had previously been awarded a federal stimulus grant of about $250 million, had applied for federal loans of about $233 million and had received other incentives from the … Continue reading

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