The Los Angeles Dodgers have filed for bankruptcy, blaming Major League Baseball for rejecting a TV deal with Fox that would have given the team an injection of much-needed cash. This is just the latest effort from Dodgers owner Frank McCourt to keep MLB and Commissioner Bud Selig from seizing the team that McCourt has [...]

Continue reading " Los Angeles Dodgers File for Bankruptcy "

It’s official.  After weeks of rumors, Borders Group Inc. filed for Chapter 11 bankruptcy protection this morning after years of rebuilding efforts failed to turn the chain around. The nation’s second-largest bookseller, based out of Ann Arbor, said it would close about 30 percent of its current locations, which is about 194, in the coming [...]

Continue reading " Borders Bankruptcy Filing: It’s Official "

Stephen Baldwin has filed for Chapter 11 Bankruptcy in the state of New York.  Court documents reveal that the actor has in excess of $2.3 million in debt and a mere $1.1 million in assets. The 43-year-old Baldwin owes around $1.2 million on two unpaid mortgages on his property in New York and over $1.1 [...]

Continue reading " Stephen Baldwin Files for Chapter 11 Bankruptcy "

The recession of 2009 has claimed another victim. Ritz Camera has filed for Chapter 11 bankruptcy protection.  The chain says the main reason is that sales were much lower than expected during the 2008 holiday season. Chapter 11 bankruptcy is actually just a reorganization, which means that Ritz Camera will probably be around a while [...]

Continue reading " Ritz Camera: Gone in a Flash? "