Frontier makes a second bid for Spirit with budget airlines struggling
Spirit filed for bankruptcy protection in November. The biggest U.S. budget airline, Spirit filed a Chapter 11 bankruptcy petition after working out terms with bondholders. The airline has lost more than $2.5 billion since the start of 2020 and faces looming debt payments totaling more than $1 billion in 2025 and 2026.
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Shares of Frontier Group rose slightly before the opening bell Tuesday.
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Associated Press
10 minutes ago
- Associated Press
Marelli Receives Court Approval of "First Day" Motions to Support Business Operations
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Bloomberg
an hour ago
- Bloomberg
Midwestern Bowling Outfit Pinstripes to File for Bankruptcy
Dining and entertainment company Pinstripes Inc. is considering filing for bankruptcy as soon as next week, according to people with knowledge of the matter. The company, which operates dining, bowling and bocce ball venues, has been holding confidential talks with its lenders and is being advised by law firm Ropes & Gray, said the people, who asked not to be identified discussing a private matter. Chapter 11 bankruptcies allow a company to continue operating while it works out a plan to repay creditors.
Yahoo
an hour ago
- Yahoo
Popular Eastern fried chicken chain fights bankruptcy to stay open
A beloved fried chicken chain based on the East Coast is struggling to keep its doors open. Sticky's, formerly known as Sticky's Chicken Joint, launched in 2012 and became famous in New York and New Jersey for its farm-raised, antibiotic-free chicken with a variety of sauces such as 'Thai Sweet Chili' and 'Caribbean Sweet Heat.' Operating 12 locations across New York and New Jersey, the restaurant chain filed for Chapter 11 bankruptcy in April 2024 in a bid to cut its debts. The filing for bankruptcy was largely due to the severe impact of the COVID-19 pandemic, as Sticky's heavily relied on New York City foot traffic and has since had a hard time bouncing back, Mens Journal wrote. As a potential resolution, Sticky's received a $2 million cash offer from Harker Palmer Investors. The deal would involve the investors purchasing the chain, taking responsibility for some of its debts and preventing Sticky's from moving Chapter 11 bankruptcy into Chapter 7 liquidation, Food Republic wrote. However, the restaurant is still actively seeking approval for a new Chapter 11 bankruptcy plan. The proposed sale received pushback from the Justice Department's bankruptcy watchdog, the U.S. Trustee, claiming the deal would give Palmer 'too much legal protection if the company were sued in the future,' according to the Daily Mail. Sticky's warned last week that it would be forced into Chapter 7 liquidation, causing the shutdown of all stores and leaving creditors empty-handed if the sale is not approved. Read the original article on MassLive.
