TGI Fridays, Iconic American Bar And Grill Chain, Declares Bankruptcy

02 Nov 2024

Casual dining chain TGI Fridays filed for Chapter 11 bankruptcy in Texas Saturday, the company said. Known for its classic American fare- burgers, wings, and cocktails-the chain said that its restaurants across the United States and overseas would operate as usual. TGI Fridays Inc., which filed for restructuring, directly manages...

Tupperware Brands Corp Files for Chapter 11 Bankruptcy Amid Sales Struggles

18 Sep 2024

Tupperware Brands Corp has officially filed for Chapter 11 bankruptcy, citing ongoing challenges with declining sales and increasing competition in the kitchenware market. Founded in 1946 by Earl Tupper, the company became synonymous with food storage solutions thanks to its innovative airtight seal and popular home sales parties. However, after...

From Prominence To Bankruptcy: A Look At Five Major Corporate Failures In India

19 Jul 2024

After the tumultuous journey of past several months, edutech firm Byju’s seems to be nearing its endgame. On July 16, the National Company Law Tribunal’s (NCLT) Bengaluru bench admitted a petition by the Board of Control for Cricket in India (BCCI), seeking insolvency proceedings against the Byju Raveendran-promoted company. This...

RDJ MP Manoj Jha Slams PM Modi and BJP, Calls Them Bankrupt of Ideas

19 May 2024

RDJ MP Manoj Jha attacked BJP and Prime Minister Narendra Modi, saying they are bankrupt of ideas. He highlighted that previously, PM Modi claimed that our alliance would bankrupt the nation. However, according to him, if you forgive Rs 16 lakh crore for associates' bankruptcy isn't a concern. On the...

NCLT admits Go First’s plea for insolvency proceedings

10 May 2023

Last Thursday, the budget airline submitted a petition to the National Company Law Tribunal (NCLT), requesting the application of bankruptcy laws to protect its interests. It also sought an interim moratorium to prevent aircraft lessors from seizing its fleet of 26 planes. Furthermore, the airline requested the appointment of an...