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Keywords: Bankruptcy


Berlin’s iconic SchwuZ nightclub files for bankruptcy amid rising costs

SchwuZ, known as Germany’s oldest and largest gay nightclub, has filed for bankruptcy after nearly 50 years of operation. The beloved Berlin institution, founded in 1977 in Kreuzberg, played a vital role in shaping the city’s LGBTQ+ culture and nightlife. Now based in Neukölln since......

China’s hidden bankruptcies reveal rising investor risks

Dalian, China – April 15 – When a Chinese pork company filed for bankruptcy in 2019, it shocked Alan Hill, a retired Apple executive from Albuquerque. He had invested around $100,000 in Dalian Chuming Meat Processing through Energroup Holdings, a U.S.-listed firm. While the company had stopped......

The uncertain future of 23andMe and user data risks

Users of 23andMe, a well-known direct-to-consumer genetic testing company, are being advised to delete their data following the company's recent bankruptcy filing in the United States on March 23. The company, which has collected genetic information from approximately 15 million users since its founding......

Celsius Founder Alex Mashinsky Pleads Guilty to Fraud Charges

Alex Mashinsky, the founder and former CEO of the cryptocurrency lender Celsius Network, recently pleaded guilty to two counts of fraud in the United States. This marks a significant development in the ongoing investigations into financial misconduct within the cryptocurrency sector.  Background......

 Spirit Airlines Files for Chapter 11 Bankruptcy Amid Financial Struggles

Spirit Airlines has officially filed for Chapter 11 bankruptcy protection, citing mounting losses, increasing debt, and a failed merger as key factors in its decision. The Florida-based airline made the announcement on Monday, detailing the steps it will take to stabilize its operations amid financial......

The Final Act for Moroccan Glassmaker Tolba Verre: Navigating Industry Challenges

The glassmaking industry in Morocco continues to face severe challenges amidst competitive pressures. Following the 2019 collapse of Tangier-based Glassry, a former industry leader backed by Moroccan investors that disintegrated just five years after its highly-publicized launch, another local manufacturer......

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