Posts Tagged ‘bankruptcy’

Hancock Fabrics losses mount; faces many challenges

by Associated Press Published: May 23,2012

Tags: bankrupt, bankruptcy, cloth, clothes, debt, fabrics, losses, retail, sales, sewing

BALDWYN — Hancock Fabrics faces many challenges, according to analysts and the company. The Baldwyn-based company last month reported it lost nearly $11.3 million in the most recent fiscal year. The fabric and craft retailer additionally had to cope with falling sales and self-admitted merchandise problems. In the past year, it’s also hired a new […] [...]

Lawyer reports McAllister, Nissan reach settlement

JACKSON — A lawyer for Deuce McAllister says a deal has been reached with Nissan Motor Acceptance Corp. in a federal lawsuit over the former Ole Miss and New Orleans Saints running back’s failed Mississippi car dealership. Attorney Joe Roberts tells The Associated Press the settlement has been submitted to the court for approval. He […] [...]

Creditor looking to buy bankrupt Grand Soleil, casino property

NATCHEZ — Bankruptcy court filings show that a creditor is buying the Grand Soleil Hotel and proposed casino property for about $5.6 million. The Natchez Democrat reports RJB Financing, LLC will pay with about $4.1 million cash and a $1.5 million letter of credit. In May 2011, businesses reportedly owed a total of $1.6 million […] [...]

New Orleans-based company buying bankrupt Monmouth

NATCHEZ — A New Orleans hotel management company is purchasing Monmouth, a historic plantation property. The Natchez Democrat reports New Orleans Hotel Consultants, a hotel management company, is taking over operations at Monmouth after United Mississippi Bank initiated foreclosure proceedings on the property Feb. 29. Warren Reuther, president of New Orleans Hotel Consultants, declined to […] [...]

MDOT project halted after contractor goes bankrupt

by Associated Press Published: February 16,2012

Tags: bankruptcy, builders, contractors, state agency, state government, transportation

TUPELO — The bankruptcy of a general contractor has prompted the Mississippi Department of Transportation to halt work on a district office in Tupelo. The Northeast Mississippi Daily Journal reports the new $5.1 million, 34,000-square-foot office was scheduled to be finished in August. The general contractor, DC&M in Bay St. Louis, filed for bankruptcy in […] [...]

Judge gives McAllister, Nissan more time for negotiating

by Associated Press Published: January 6,2012

Tags: autombile dealerships, automobiles, Automotive, bankruptcy, Cars, courts, lawsuit, vehicles

JACKSON — A federal judge is giving attorneys for former New Orleans Saints running back Deuce McAllister and Nissan Motor Acceptance Corp. more time to negotiate a settlement in a lawsuit between them over the football star’s failed Jackson auto dealership. A court filing late yesterday said “because progress was demonstrated” U.S. Magistrate Judge Linda […] [...]

Judge sets deadline in McAllister-Nissan lawsuit

JACKSON — A federal judge has set a deadline for settlement negotiations in a lawsuit between Nissan Motor Acceptance Corp. and Deuce McAllister related to a car dealership the former New Orleans Saints star owned in Mississippi. U.S. Magistrate Judge Linda R. Anderson set a telephone conference for Jan. 5 and said discovery will resume […] [...]

Creditors win right to go after Roberts’ other holdings

by Associated Press Published: December 19,2011

Tags: bankruptcy, broadcasting, creditors, media, television

JACKSON — Creditors in a bankruptcy case involving Roberts Broadcasting Co. will be able to sue other businesses belonging to the company’s owners. St. Louis-based Roberts Broadcasting is owned by Michael and Steven Roberts, who filed for Chapter 11 bankruptcy in October with debts totaling more than $4 million. The St. Louis Post-Dispatch reports several […] [...]

Owners of two historic tourist attractions file bankruptcy

by Associated Press Published: December 8,2011

Tags: bankruptcy, culture, historic, m visitors, plantation, real estate, tourism, tourists

NATCHEZ — An historic mansion and a tavern that has operate for decades in downtown Natchez have filed for bankruptcy protection from foreclosure. The Natchez Democrat reports both Monmouth Plantation and King’s Tavern remain open. Monmouth co-owner Ron Riches says the business filed Chapter 11 bankruptcy last week to avoid the foreclosure scheduled for this […] [...]

Majestic Star emerges from Chapter 11 bankruptcy

by Associated Press Published: December 2,2011

Tags: bankruptcy, casinos, gambling, gaming, hospitality, hotels, lodging, meetings and conventions, restaurants, tourism, tourists, visitors

ROBINSONVILLE — Majestic Star Casino, which owns Fitzgeralds Casino Hotel in Robinsonville, has emerged from Chapter 11 bankruptcy reorganization. The Las Vegas company said it had eliminated more than $500 million in debt. The company is now owned by former lenders, with Minnesota-based Wayzata Investment Partners the largest shareholder. Fitzgeralds, one of nine casinos in […] [...]

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