Posts Tagged: bankruptcy

Vice Headed for Bankruptcy

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According to the New York Times, Vice, the digital-media company that earned investments by Disney and Fox prior to a crash-landing, is preparing to file for bankruptcy, according to two people with knowledge of its operations. Questions: Source: Hirsch, L. and B. Mullin. (2023). Vice Is Said to Be Headed for Bankruptcy. The New York… Read more »

Bankruptcy for 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, Ethical Dilemma, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, Bed Bath & Beyond (BB&B) failed to fully reckon with the rise of online shopping, leading to its bankruptcy filing. Questions Source: Holman, J. and M. Hirsch (2023). Bed Bath & Beyond Files for Bankruptcy. The New York Times, April 23 (Retrievable online at https://www.nytimes.com/2023/04/23/business/bed-bath-beyond-bankruptcy.html)

Virgin Orbit Files for Bankruptcy

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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 »

Debt Disclosure Problems

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According to the New York Times, Greensill Capital promised a win-win for buyers and sellers, until it all fell apart, igniting concerns about opaque accounting practices. Questions: How much was Greensill valued at less than 2 years ago? Explain how Greensill’s problems extend to the U.S. Explain Mr. Greensill’s position in the firm as the… Read more »

Sad Times at Landmark Hotels

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This time of year is usually when America’s luxury hotels are starting to prepare for busy holiday parties and New Year’s Eve festivities. Unfortunately, most of these luxury hotels have lost well over half their business and told most of their staff that they are not needed. Questions: According to the article, the hotel industry… Read more »

Hedge Funds Feed off of the Troubles at Malls

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According to the New York Times, as the COVID pandemic accelerates the demise of some brick-and-mortar retailers, hedge fund investors profit handsomely. Questions: Who was Catie McKee, hedge fund analyst talking to last October about her investment strategy? How much did the investor(s) make for the trade within Ms. McKee’s firm that more than doubled… Read more »

Chevron’s Big Merger

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Despite the sharp decline for oil and gas, Chevron agreed on Monday to buy Noble Energy for roughly $5 billion. Questions Why might this be such an important move? Why did Noble decide to sell? How many North American oil producers have filed for bankruptcy this year? Source: Krauss, C. (2020). Chevron Deal for Oil… Read more »

Closing its Doors

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According to the New York Times, the famed discount department store, Tati in Paris, is closing its doors. Questions: Why is the store so famous? Why is the store closing? Who is the owner of Tati? What store in the U.S. would you compare Tati to, based on the article description? Source: Nossiter, A. (2020)…. Read more »

What a Sad Day: Say It Ain’t So!

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According to the Dayton Daily News, the parent company of Chuck E. Cheese has filed for Chapter 11 reorganization bankruptcy “in order to overcome the financial strain resulting from prolonged COVID-19 related venue closures” and to restore the kids-entertainment-and-pizza chain to a position of long-term success, according to a release from CEC Entertainment, Inc. All across… Read more »

Sad Times for a Retail Icon!

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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 »