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June 28, 2017

Japanese airbag maker Takata files for bankruptcy; Dubai to launch first Crowd Endowment Park in the world; Natwest introduces new Family Business Entrepreneur of the Year award.

Japanese airbag maker Takata files for bankruptcy; Dubai to launch first Crowd Endowment Park in the world; Natwest introduces new Family Business Entrepreneur of the Year award

Faulty airbag-maker files for bankruptcy

An airbag company made famous for all the wrong reasons has filed for bankruptcy in Japan and the United States.

October 10, 2012

Tough times have taken its toll on Zacky Farms, the poultry producer owned by the eponymous family, which has filed for bankruptcy, while Greece’s Folli Follie is selling a majority stake in its travel retail operations.

Tough times have taken its toll on Zacky Farms, the poultry producer owned by the eponymous family, which has filed for bankruptcy, while Greece’s Folli Follie is selling a majority stake in its travel retail operations.

Folli Follie, controlled by the Koutsolioutsos family, is selling 51% of its duty-free shopping division to Switzerland’s Dufry – a travel retailer operating in 44 countries.

January 31, 2012

The family behind German drugstore chain Schlecker has lost its multi-billion-euro fortune and will be unable to put in money to revive the family business.

The family behind German drugstore chain Schlecker has lost its multi-billion-euro fortune and will be unable to put in money to revive the family business.

That’s according to second-generation Meike Schlecker, who said in a statement that “there are no significant funds [with the family] anymore that could have helped the company”.

November 11, 2011

Sean Quinn, who was once Ireland’s richest man, has applied for bankruptcy seven months after he lost control of his family business Quinn Group.

Sean Quinn, who was once Ireland’s richest man, has applied for bankruptcy seven months after he lost control of his family business Quinn Group.

Quinn, who developed a business empire from a gravel pit and expanded it to include cement, hotels, pubs and insurance, reportedly lost more than €1 billion after investing in Anglo Irish Bank.

May 26, 2010

Tom Hicks, owner of the Texas Rangers baseball team, announced on Monday that he has put the team into Chapter 11 bankruptcy protection in order to facilitate its sale.

Tom Hicks, owner of the Texas Rangers baseball team, announced on Monday that he has put the team into Chapter 11 bankruptcy protection in order to facilitate its sale.
 
The patriarch, a prominent sports team owner, agreed to a voluntary bankruptcy filing in order to sell the club to a group of investors, which includes the current club president.
 

September 1, 2009

Freedom Communications Inc, the US media company majority owned by the Hoiles family, is expected to file for chapter 11 bankruptcy this week according to US media reports.

Freedom Communications Inc, the US media company majority owned by the Hoiles family, is expected to file for chapter 11 bankruptcy this week according to US media reports.
 
The business has reached agreements with its lenders for debt restructuring and will continue to operate under bankruptcy protection. "We are continuing to work with our lenders to address our balance sheet," a Freedom spokesman told the Wall Street Journal.
 

August 11, 2008

The largest family-owned department store chain in the US has filed for Chapter 11 bankruptcy protection and secured an agreement with courts and creditors to sell off company assets.

The largest family-owned department store chain in the US has filed for Chapter 11 bankruptcy protection and secured an agreement with courts and creditors to sell off company assets.

Boscov's, which is based in Reading, Pennsylvania, said pressure from the weakened economy had hampered operations in recent years.

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