Last year, Apple purchased GT Advanced Technologies for $578 million, after strenuous negotiations concerning the ultra-hard sapphire material producer. On Monday, GT filed for bankruptcy in a federal court, a move that comes only a few weeks after the tech giant revealed that it was no longer using sapphire as a cover for its newer iPhone models displays. Today’s bankruptcy filing is, however, … [Read more...]
Final Settlement Reached by Bond Insurer in Detroit Bankruptcy Case
A final settlement has been reached in the case concerning the Detroit municipal bankruptcy case, after claims that could have influenced the city’s exit from bankruptcy protection. According to the court filing on Monday, a comprehensive settlement had been reached that would have the bond insurer end its objection to the debt-cutting plan proposed by the city. Lawyers from Syncora Holdings … [Read more...]
Crumbs is Shutting Down Its Stores: America Is Over Cupcakes, It Seems
Over the course of this week, the Crumbs Bake Shop which seemed to have such promising odds has shut down all of its 48 stores. The chain had been planning, a while back, to open over 200 new locations nationwide, but expanding beyond its New York territory proved to be difficult. After struggling for some time with this expansion, Crumbs announced that it is shutting down its stores, since it … [Read more...]
