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As expected, May 14th is indeed a dark day for LightSquared. The company has just filed paperwork in order to initiate Chapter 11 bankruptcy proceedings in Manhattan's US Bankruptcy Court, effectively killing its dream of providing a high-speed mobile wireless network to upwards of 260 million peo...

May 14th 2012 at 2:24pm 0 Comments
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This year has not been a kind one for Kodak. Last month, the photography pioneer announced that it was filing for bankruptcy (and suing Samsung, incidentally), and now the company has let it be known that it will be dropping out of the digital camera business -- and then some -- marking an end to...

February 9th 2012 at 9:48am 0 Comments
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Don't think of this as the end of the road for Blockbuster, think of it as a new beginning. After filing for Bankruptcy back in September, big blue and yellow has been working to get its affairs in order -- and trying desperately to fend off both Netflix and Redbox with offerings like Blockbuster o...

February 23rd 2011 at 8:36am 0 Comments
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There's just nothing quite like a promised kept, you know? Back in May, we heard that the financially troubled Clear would be making a comeback this fall, and lo and behold, the first Clear security lanes in quite some time have opened up in Orlando International Airport (MCO). Just as before, cust...

November 10th 2010 at 9:27am 0 Comments
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Teetering no longer. According to Reuters, satellite phone maker TerreStar has filed for Chapter 11 bankruptcy to protect itself from liabilities in the range of $1.6 billion. As expected, a restructuring is in order, with Blackstone Group LP providing financial advice for such a move. One of TerreS...

October 19th 2010 at 11:19pm 0 Comments
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Remember that dual-mode OLED / Binem display from yesterday? Well, then you might want to hang onto those memories, as the company behind it has apparently now gone bankrupt. While there's no official word from the company itself, French website Actualitte is reporting that the company, Nemoptic, w...

October 12th 2010 at 11:04pm 0 Comments
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Dutch publisher Playlogic (Fairytale Fights, Obscure: The Aftermath) has notified the US Securities and Exchange Commission that it has entered into "surseance van betaling," which is closely equivalent to the States' Chapter 11 bankruptcy. The company claims in the filing that "Tough market condit...

July 28th 2010 at 8:00pm 0 Comments