1000 employees out of work as flatbed operator files for bankruptcy: It’s a harsh reality, a sudden jolt to a thousand lives and families. The news highlights the instability that can grip even seemingly essential industries like trucking. According to reports, Montgomery Transport, the company in question, saw its financial troubles begin earlier in the year. The situation took a turn when the principal owner, One Equity Partners, decided to exit the trucking industry, initiating the search for a buyer.
The proposed sale of Montgomery Transport to P and S Transportation was set to close at the end of September. However, a lawsuit and restraining order, reportedly filed by Rollins Montgomery, abruptly halted the process.… Continue reading
Rite Aid, a once prominent national pharmacy chain, has officially closed all of its locations across the United States. The closure follows a rapid decline, with the company operating 2,451 locations in 2022 before filing for Chapter 11 bankruptcy in October 2023. Despite emerging from bankruptcy briefly, Rite Aid filed again in May 2025, leading to the liquidation of its assets and the complete closure of all stores by September. The company, founded in 1962, faced significant challenges including a heavy debt load and legal issues related to the opioid crisis.
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Publishers Clearing House, a company famous for offering life-changing prizes, has entered bankruptcy, leaving winners’ financial futures in jeopardy. ARB Interactive, which acquired PCH’s assets, will not honor payouts for winners before July 15th, causing significant financial hardship for those who relied on the promised income. The company’s financial struggles led to a dramatic drop in revenue in recent years, ultimately resulting in its inability to meet its obligations to past winners. Although ARB Interactive plans to ensure future prizes are honored, the past winners are left with a sense of betrayal and uncertainty.
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A significant portion of Russian property developers are facing financial distress, with approximately 20% on the brink of bankruptcy due to declining sales and high interest rates, and the share could exceed 30%. This is exacerbated by low demand, limited state support, and the diversion of resources to the war in Ukraine, resulting in shrinking sales and increasing debt burdens. The real estate sector is experiencing the sharpest deterioration, with a substantial rise in non-performing loans. Russian authorities are considering measures such as a moratorium on developer bankruptcies.
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The UK government has announced a ban on Israeli students attending the Royal College of Defence Studies, effective next year. This unprecedented move, the first of its kind since the college’s founding in 1927, is a direct response to Israel’s ongoing military operations in Gaza, which has drawn global condemnation. The decision aligns with other measures, such as the exclusion of Israeli officials from arms exhibitions and the suspension of arms export licenses, reflecting growing international pressure. This action has sparked outrage from Israeli officials, who have criticized it as discriminatory and disloyal.
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Spirit Airlines filed for bankruptcy protection again, just months after emerging from Chapter 11 in March, due to continued high costs and weak demand. The airline plans to reduce its network and fleet to cut costs, aiming to save “hundreds of millions of dollars” annually. Spirit’s previous restructuring focused on debt reduction, but this new filing indicates the need for more significant changes. Labor unions anticipate further adjustments, including potential furloughs and voluntary leave, while the carrier’s shares have plummeted.
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Evergrande, once the world’s most indebted property developer, amassed $300 billion in debt, leading to its downfall after Beijing implemented new borrowing restrictions in 2020. The company’s financial struggles worsened, resulting in defaults on overseas debts and a subsequent liquidation order from the Hong Kong High Court in January 2024, following years of legal battles. The company’s shares were delisted after a 99% loss in market value. Liquidators have revealed $45 billion in debts and limited asset sales. The focus has now shifted to the distribution of assets among creditors during the ongoing bankruptcy process.
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For years, Miles “Burt” Marshall, a respected figure in upstate New York, offered local investors a guaranteed 8% return through his investment fund, often using the funds to invest in rental properties. His friendly demeanor and established presence, along with his other businesses, fostered trust within the community, leading many to invest their life savings. However, in 2023, Marshall filed for bankruptcy, owing nearly $95 million to almost 1,000 people, and was subsequently indicted on charges of operating a Ponzi scheme. Investors, including professors, retirees, and families, suffered significant financial losses, with many facing hardship and uncertainty after the promised returns ceased.
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In a recent ruling, a federal bankruptcy judge denied anti-government activist Ammon Bundy the ability to discharge a $52 million civil judgment through bankruptcy. The judge sided with St. Luke’s Health System, determining that Bundy’s actions in defaming the hospital network were “willful and malicious,” a key factor preventing debt discharge. This decision stems from Bundy’s 2022 claims that St. Luke’s was involved in child trafficking, accusations that led to the original defamation lawsuit and a default judgment against him. The court cited Bundy’s failure to engage in the initial Idaho trial as a factor in the ruling, effectively upholding the original judgment and preventing him from avoiding accountability through bankruptcy.
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Claire’s, a well-known mall retailer with 2,750 stores globally, has filed for voluntary Chapter 11 bankruptcy proceedings to explore strategic options for its survival. The company previously underwent bankruptcy in 2018 and cited macroeconomic factors, including consumer spending and the shift from brick-and-mortar retail, as contributors to the decision. Currently, 18 U.S. locations are scheduled to close, with more potentially added as the company seeks to terminate leases. CEO Chris Cramer emphasized that the company is actively seeking partnerships while reviewing strategic alternatives.
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Matt Underwood 
John Q. Hosedrinker