Latest news with #JonathanRandles
Bloomberg
13-05-2025
- Business
- Bloomberg
Rite Aid's $355 Million Bankruptcy Bill Ends in Repeat Chapter 11
By Welcome to The Brink. I'm Jonathan Randles, a reporter in New York, where I've been looking at pharmacy chain Rite Aid's return to bankruptcy. We also have news on Greek GDP warrants and Saks Global. Follow this link to subscribe. Send us feedback and tips at debtnews@ Pharmacy chain Rite Aid racked up $355 million in fees to sort out its finances after it emerged from bankruptcy last September. Nine months later it has fallen back into Chapter 11.
Bloomberg
04-04-2025
- Business
- Bloomberg
Big Take: 23andMe Bankruptcy Puts a Price on Your DNA
The genetic testing company 23andMe filed for bankruptcy in March, after years of slowing sales, legal trouble, and a declining stock price. And now, the valuable trove of genetic data the company owns is for sale, sparking privacy concerns. On today's Big Take, Bloomberg biotech reporter Gerry Smith traces the rise and fall of 23andMe, and bankruptcy reporter Jonathan Randles outlines what a possible sale could mean for millions of users' genetic data.
Bloomberg
20-02-2025
- Business
- Bloomberg
Residents of Bankrupt NY Senior Home Face Big Losses in Private Equity Deal
By and Jonathan Randles Save Residents owed $130 million after their senior living community went bankrupt are poised to suffer big losses but won't be left empty-handed under a sale agreement approved by a New York federal court. Current and former residents of The Harborside, a 329-unit continuing-care retirement community in Port Washington on Long Island's North Shore, are anticipated to receive an initial $6 million distribution after a sale of the facility for $86 million to Chicago-based private equity firm Focus Healthcare Partners, according to a plan approved by a bankruptcy court on Thursday.
Yahoo
28-01-2025
- Business
- Yahoo
Bloomberg: iM3NY files for bankruptcy
(WIVT/WBGH) – The Endicott-based lithium-ion battery manufacturer, iM3NY, has filed for Chapter 11 bankruptcy, according to reporting by The article written by Jonathan Randles of one of the media leaders in economics and technology coverage, states iM3NY and the affiliate Imperium3 filed in the US Bankruptcy Court for the District of Delaware Monday, Jan. 27. This comes just months after iM3NY laid off a large number of its staff, and then resumed battery production two weeks later at the end of October 2024. As reported by Randles, iM3NY's CEO Lukasz Cianciara said in the court filing that the company used all of the funds it raised from investors, over $70 million, and more than $100 million in debt. According to the article, Imperium3 'incurred a total net operating loss of $142.6 million' and owes a minimum of $125 million, per the court documents. Randles stated that iM3NY's court filing mentioned that the hiring of Hilco Corporate Finance at the end of 2024 was to sell its assets to potential suitors. He also mentioned the Chapter 11 loan would provide iM3NY with $2.5 million in relief, which must be approved by a bankruptcy judge before the firm receives it. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
