Saks Global in Crisis After Costly Neiman Marcus Merger
The $2.7 billion luxury retail merger of Saks and Neiman Marcus has led to a debt crisis, delayed vendor payments, and potential bankruptcy. Discover the inside story of the failed deal.
Category : Search result: restaurant chain bankruptcy
Budget 2026: Govt to reform SARFAESI, DRT rules for swift debt recovery
The government may announce reforms to SARFAESI Act and DRT procedures in Budget 2026-27 to clear backlog of 178,000 cases and speed up debt recoveries. Key changes aim to reduce litigation.
Antonio Brown's Net Worth: From NFL Riches to Bankruptcy
Former NFL superstar Antonio Brown's net worth is now estimated at -$3 million. Explore his dramatic financial fall from $80M career earnings to Chapter 7 bankruptcy.
Saks Bankruptcy Fears Prompt Rush to Use Gift Cards & Credits
Amex Platinum cardholders are rushing to use Saks credits as bankruptcy looms. Learn what experts say about gift card safety and how past retail cases unfolded.
2026 Budget Session to Decide Fate of Major Reforms
As Parliament gears up for the 2026 Budget Session, high-stakes bills on simultaneous elections, higher education, and financial markets await final clearance. Get the full analysis of India's legislative roadmap.
Chennai woman fights chain snatcher, recovers gold chain
A 25-year-old UPSC aspirant in Chennai bravely resisted a chain-snatching attempt on GST Road, suffering injuries. The attacker fled, dropping the 5.5 sovereign chain. Police are investigating.
Ashoka: Siddaramaiah's top feat is bankrupting Karnataka
BJP's Ashoka criticizes CM Siddaramaiah on equalling Devaraj Urs's record, alleging financial mismanagement has pushed Karnataka towards bankruptcy. Read the full political clash.
Porvorim Restaurant Gutted in Fire, Owners Suspect Arson
A major fire destroyed 'Gharan' restaurant on NH 66 in Porvorim early Tuesday. Owners suspect arson amid a family dispute. No casualties reported. Estimated loss is Rs 30 lakh.
Jefferies Seeks Ex-CEO Testimony in First Brands Case
Jefferies presses to question First Brands founder under oath amid a $715M invoice scandal. The legal battle intensifies as the former CEO cites the Fifth Amendment. Read the full details.
Saks in Talks for $1B Loan Ahead of Chapter 11 Filing
Saks Global Enterprises is negotiating a $1 billion loan for a potential Chapter 11 bankruptcy filing. The luxury retailer missed a $100M interest payment and faces sales decline. Read the full story.
Elon Musk's 2008 Fury: Tesla on Brink, Demanded Names
In 2008, Tesla neared bankruptcy as Elon Musk, amidst his divorce, raged at executives over faulty Roadster parts. Discover the untold story of Tesla's darkest hour. Read the full report.
Former Waiter's Guide to Being a Better Restaurant Guest
A veteran of top New York restaurants shares pro tips on dining etiquette, tipping, and collaboration with staff to ensure a superior experience. Learn how to be a savvier guest.
Mumbai eateries face Rs 111 LPG hike, food prices may climb
Mumbai's restaurants and hotels face a New Year shock as commercial LPG prices jump Rs 111 per cylinder. Industry warns of higher menu prices, squeezing margins and impacting consumers. Read more.
87% Success Rate for Student Loan Bankruptcy Discharge
A new study shows an 87% success rate for discharging student loans via bankruptcy, debunking a persistent myth. Learn how policy changes have made this path more accessible for millions of borrowers.
FY27 Budget: Deregulation, Decriminalisation Reforms Lined Up
The upcoming FY27 Union Budget will push for deregulation & decriminalisation of laws to fuel India's medium-term growth. Key amendments to Companies Act & IBC expected. Read more.
Mumbai restaurant fined Rs 50,000 for service charge
The CCPA imposed a Rs 50,000 penalty on a Mumbai restaurant for adding a mandatory service charge. The authority ordered the firm to modify its billing software immediately. Read the full details.
Inside Malaika Arora's luxury restaurant Scarlett House
Explore Malaika Arora's luxury restaurant Scarlett House in Mumbai, where masala khichdi costs Rs 550 and a bottle of 'anti-ageing' water is priced at Rs 350. Discover the celebrity hotspot's unique hydration bar and vintage charm.
Elon Musk's 2008 Tesla Crisis: 'Get Happy or Get Divorced'
Old footage reveals Elon Musk's tense 2008 ultimatum to Tesla team as both Tesla and SpaceX neared bankruptcy. Discover the inside story of the 'skin of their teeth' era. Read more.
NCLAT Sets Aside NCLT Order in Culver Max Insolvency Case
NCLAT overturns NCLT's dismissal of Culver Max's insolvency plea against Rechargekit Fintech, citing denial of opportunity to rectify defects. The case is remanded back to NCLT for fresh hearing.
Embrace Bankruptcy for Stronger Economy: EAC-PM Member
EAC-PM's Sanjeev Sanyal argues that allowing companies to fail is vital for India's economic dynamism. Learn why a 'continuous churn' is necessary for long-term strength.
3 Women Arrested for Gold Chain Theft in Puttur
Karnataka police arrest three women for allegedly stealing a 14-gram gold chain from a 67-year-old devotee at a Puttur temple. Details on the incident and investigation inside.
India's Restaurants Sold Out for Christmas & New Year Eve
Indian restaurants in major cities report a surge in festive bookings, with Christmas and New Year's Eve seats fully sold out. Brands see higher footfalls and delivery orders, signaling a strong end to the year. Discover the dining trends.
Why iRobot Failed: Ex-CEO Blames Chinese Rivals, Amazon
iRobot's co-founder Colin Angle explains how Chinese competitors and a blocked Amazon deal led to Roomba maker's bankruptcy. Read the full analysis of the robot vacuum market shift.
Everfast Strengthens India's Medicine Cold Chain Capabilities
Everfast Freight Forwarders launches a major cold chain expansion in India, enhancing storage for medicines and vaccines. Discover how this investment supports healthcare logistics.
Saks Considers Bankruptcy Ahead of $100M Payment
Saks Global Enterprises faces a critical $100+ million debt payment on Dec 30, exploring Chapter 11 bankruptcy and emergency funding. Read the full analysis of the luxury retailer's financial crisis.
Akali Rajyam Restaurant Booked for Food Safety Violations
Vijayawada's Akali Rajyam restaurant faces a case and improvement notice after oil reuse exceeded limits and a viral rodent video surfaced. Officials demand immediate cleanup.
Panel Proposes Multiple IBC Plans for Stressed Assets
A parliamentary panel recommends allowing multiple resolution plans for different assets of an insolvent firm, aiming to boost value and attract bidders. Explore the potential shift in India's insolvency landscape.
Saks Considers Bankruptcy Ahead of $100M Payment
Saks Global Enterprises is exploring Chapter 11 bankruptcy as a last resort before a crucial $100 million debt payment due Dec 30. The luxury retailer's turnaround plan has faltered. Read more.
FlexShopper Files for Bankruptcy After CEO Fraud Probe
Lease-to-own firm FlexShopper files for Chapter 11 bankruptcy with over $100M liabilities. Read about the CEO fraud scandal and the planned sale to Snap Finance.
Mumbai: 2 Hurt in Colaba Restaurant Kitchen Fire
Two kitchen workers suffered burn injuries after a fire broke out at Social Bar and Restaurant in Colaba, Mumbai. The blaze, caused by a short-circuit, was quickly extinguished. Read the full details.
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