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Aereo was expecting to sell its assets for at least $4 million (and up to $31 million) at a bankruptcy auction, following its loss in a protracted legal battle against broadcasters. Sadly, luck wasn't on its side yet again: the company has managed to raise a mere $2 million from the auction, which...

2 days ago 0 Comments
February 27, 2015 at 11:37AM
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As expected, RadioShack filed for Chapter 11 bankruptcy today. The electronics store has had 11 unprofitable quarters in a row that apparently even Weird Al and a drone, concept stores and Arduinos couldn't turn around. We've seen many electronics retailers fade out over the last few years, but mo...

24 days ago 0 Comments
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When a company files for Chapter 11 bankruptcy, it means that it's mere moments away from being torn to pieces by its creditors. That particular regulation also provides room for a turnaround, but given that the Supreme Court has essentially made its business model illegal, it's not looking good f...

3 months ago 0 Comments
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For a company that's obsessed with secrecy, it's no surprise to see that Apple imposes tight restrictions on what its suppliers can say. If your company leaks a product, or starts boasting about producing components for a future iOS device, then you'll be asked to pay a fine of no less than $50 mi...

4 months ago 0 Comments
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First, one of the world's largest Bitcoin exchanges went dark, then it filed for bankruptcy, suffered further hacking attacks and even faced a lawsuit. Now Mark Karpelès, Mt. Gox's CEO, tells the Wall Street Journal that he's liquidating what's left of the company assets to make ends meet. ...

8 months ago 0 Comments
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The Mt. Gox Bitcoin exchange may still be reeling from the botnet discovery that ruined its business, but it just got a big reprieve. A US court has approved Mt. Gox's Chapter 15 bankruptcy protection, preventing creditors who sued the company from seizing any American assets (including servers) o...

8 months ago 0 Comments
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A Japanese court-appointed administrator is now in control of Mt. Gox following an unsuccessful attempt to save the business. The Bitcoin exchange filed for bankruptcy in February after losing 850,000 Bitcoins, though it later found around a quarter of them. That's still a $340 million loss at cur...

10 months ago 0 Comments
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OCZ dropped off the radar shortly into 2013 as it struggled to correct dodgy accounting and stem ongoing losses. Unfortunately, it couldn't turn things around quickly enough -- the one-time legend in memory technology has declared bankruptcy. That isn't necessarily the end of the story, though. To...

1 year ago 0 Comments
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When companies die, their assets are sold to make back whatever money can be recovered. That's normal. But you wouldn't expect a great deal of interest in the intellectual property of a company that had worked on only two games and actually released just one of them. Apparently that expectation wou...

1 year ago 0 Comments
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It seems as though we can't go more than a few weeks without hearing about some new complication related to the collapse of 38 Studios and the financial catastrophe it left in its wake. This week's news comes in the form of an SEC probe into the $75 million in loan guarantees offered to the studio ...

1 year ago 0 Comments
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After a year and a half of trials and tribulations, Kodak is finally in the clear -- it just exited Chapter 11 bankruptcy. Now that the company has finished offloading its document and personal imaging groups, it's free to pursue a recently court-approved reorganization plan that focuses solely on...

1 year ago 0 Comments
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38 Studios collapsed upon itself in a heap of flaming disaster last year, and Rhode Island taxpayers ended up stuck with the bill. The state used a $75 million loan, acquired through the sale of taxable bonds, to convince 38 to operate within its borders, and RI is now on the hook for around $89 mi...

1 year ago 0 Comments
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Better Place's plan for electric cars with swappable batteries is coming to an end. Despite a change in leadership and a streamlining effort over the past six months, the Israeli EV maker has filed a court motion for liquidation, citing insufficient cash to continue operations and a failure to rai...

1 year ago 0 Comments
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Now with a patent sale, new financing and asset offloads under its belt, Kodak's homing in on when it might emerge from Chapter 11 bankruptcy. In January, the imaging giant predicted it might finally exit its financial default by mid-2013, and now it's filed paperwork with a New York court indicat...

1 year ago 0 Comments