Posts Tagged: Bankruptcy court

Overstock.com Wins Bid To Acquire Bankrupt Bed Bath & Beyond

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, if the acquisition of Bed Bath & Beyond by Overstock.com is approved at bankruptcy court next week, the company will own the intellectual property of the bankrupt home goods retailer. Questions: Source: Holman, J. (2023) Overstock.com Wins $21.5 Million Bid for Bed Bath & Beyond’s Assets. The New York… Read more »

Virgin Orbit Files for Bankruptcy

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, the satellite launch company, founded by Richard Branson, announced sweeping cuts last week as it struggled to recover from a high-profile rocket failure in January. Questions: Source: Granville, K. (2023) Virgin Orbit Files for Bankruptcy After Failed Launch and Lack of Funding. The New York Times, April 4 (Retrievable… Read more »

Sad Times for a Retail Icon!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

This week, J.C. Penney filed for bankruptcy protection after a prolonged decline over the past 20 years, becoming the latest and largest retailer to fall during the coronavirus pandemic, which has devastated the industry. Questions: How many employees does this affect? When and where did the company start? How many stores does the company have… Read more »

The End of Another Department Store Icon

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, the end of Barney’s, the famed department store, involved executives crisscrossing the globe, all-night strategy sessions, last-minute alliances, and attempts to sway public opinion. However, all these attempts led to bankruptcy. Questions: What happened to Barney’s in bankruptcy court? How many full-time employees will be affected? Gene Pressman, a… Read more »