No More SkyMall?

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

The parent company for SkyMall filed for bankruptcy protection on January 23, 2015. SkyMall was the entertaining catalogue of everything you never thought about buying, but was in the seat pockets of every plane. As Farhi said, “the value added to this grotesque shlock was SkyMall’s enthusiastic descriptive copy. SkyMall’s writers never let on that… Read more »

Chapter 11 for Quiznos

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting, Video Updates.

Quiznos, the Denver-based sandwich chain, is preparing to file for bankruptcy in the next few weeks, due to debt and declining sales. Questions: 1. This is not the first time that Quiznos has negotiated with creditors. Explain its out-of-court restructuring deal that occurred two years ago. 2. Assuming that the past debt load was similar… Read more »