Campeau Corp.'s two U.S. retail divisions went into Chapter 11 bankruptcy protection Jan. 15.
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Fallen Drexel files for Chapter 11
Feb. 14, 1990
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NEW YORK - Drexel Burnham Lambert Inc.'s parent company filed late Tuesday for federal bankruptcy-court protection from creditors. It's the first major investment bank to seek Chapter 11 protection since the Depression.
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Hemmed-in retailer; Chapter 11 bitter pill for Campeau unit
Feb. 21, 1990
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ATLANTA - Kelly green and canary yellow shorts are stacked high on shelves in the Liz Claiborne boutique. Black-and-white striped B.G. Basics tops fill the rack in moderate sportswear. Metallic and animal-print maillots grace mannequins in swimwear. The Rich's store at the Perimeter Mall, in the affluent Dunwoody section of town, looks just like a mid-to-upper-range retailer should look at the opening of the spring fashion season.
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'St. Louis Sun' folds after 7 months
Apr. 26, 1990
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The St. Louis Sun has set.
The tabloid will not publish today - seven months after a grand attempt to become the first successful metropolitan daily newspaper to be started since World War II.
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Greyhound's last stop? Strike-forced Chapter 11 is a bitter pill
June 6, 1990
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DALLAS - Greyhound CEO Fred Currey was never one of those swaggering, 10-gallon Texa-preneurs.
He wasn't interested in glamorous, quick-buck ventures like oil wells or savings-and-loan institutions. Rather, it was the distinctly downscale, over-the-road bus business - an industry with little romance or profits and shaky prospects for even a plodding turnaround - that attracted the Tennessee native.
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Chapter 11 looms for Taj Mahal
Nov. 16, 1990
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NEW YORK - As expected, Donald Trump missed a $47.3 million interest payment on Taj Mahal junk bonds Thursday. The probable next step for his debt-ridden casino: bankruptcy court.
The big question seems to be whether the Taj will go into Chapter 11 bankruptcy protection with substantial reorganization agreements between Trump and his creditors already in place.
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Continental in less turbulent Chapter 11
Dec. 4, 1990
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Continental Airlines filed for protection under Chapter 11 of the Federal Bankruptcy Acton Monday for the second time in seven years. But this time, few customers seem to be alarmed.
The reason: The USA's fifth-largest air carrier says it will continue to offer full flight schedules to 88 cities in the USA and 55 cities abroad. In addition to honoring tickets and refunds, Continental says that its popular OnePass frequent-flier program won't be interrupted.
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Losses ground Pan Am; Airline faces turbulent path to recovery
Jan. 9, 1991
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NEW YORK - Pan Am Corp.'s long flight into bankruptcy court finally landed Tuesday.
Pan American World Airways' parent company - one of the USA's weakest airline companies for more than a decade - filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.
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Eastern falls through
Jan. 22, 1991
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Eastern Airlines, which shut down Friday, was ranked ninth among the 11 major airlines last year with 17 billion revenue passenger miles.
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Heileman files for Chapter 11
Jan. 25, 1991
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Another '80s-style takeover is in bankruptcy court.
G. Heileman Brewing Co. of La Crosse, Wis., filed Thursday for Chapter 11 bankruptcy protection. The maker of Old Style, Colt 45 and Lone Star beer suffered under the heavy debt load of its owner, Bond Corp. of Australia. Bond acquired the USA's No. 5 brewery in 1987 for $1.3 billion.
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Carter Hawley files for Chapter 11
Feb. 12, 1991
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Carter Hawley Hale, the biggest retailer in the West, filed for Chapter 11 bankruptcy protection Monday.
The owner of 88 Broadway, Emporium and Weinstock's stores ran short of cash. Worried apparel makers stopped shipping spring goods to the stores the past two weeks. "Once the market dried up on them they had no choice" but to go Chapter 11, says Walter Loeb of Loeb Associates.
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Midway flies into Chapter 11
March 27, 1991
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Midway Airlines filed for reorganization under Chapter 11 bankruptcy rules Tuesday. It's the third airline to do so since December, joining Continental Airlines and Pan Am.
For now, the USA's 12th-largest carrier plans to stick to its 243-flight daily schedule as it tries to overcome losses caused by high fuel prices, fare wars, recession and a failed expansion to Philadelphia.
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$100M later, 'The National' prints last edition
June 13, 1991
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The National daily sports newspaper, which made a splashy debut 16 months ago, publishes its last issue today.
"We were just losing too much money," says Frank Deford, editor and publisher of the tabloid, launched Jan. 31, 1990. The newspaper - which has a staff of 280 - siphoned $100 million from the pockets of its owner, Mexican media tycoon Emilio Azcarraga. That's how much he said he would spend over five years.
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Pan Am: 'Passing of institution'
Dec. 5, 1991
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Pan American World Airways - the airline that blazed the path of modern aviation - belongs to history itself now.
Pan Am's shutdown Wednesday was a sad end for a company that was for much of its 64 years a world aviation leader.
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Dallas newspaper succumbs to slump
Dec. 9, 1991
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The Dallas Times Herald will publish its last edition today and sell most of its assets to A.H. Belo Corp., publisher of the rival Dallas Morning News, for $55 million, the Times Herald said Sunday.
It was unable to find a buyer or investor who could keep the 112-year-old daily alive. "This recession has been especially difficult for media companies and particularly hard on the second newspaper company in a market," says Times Herald Publisher John Buzzetta.
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Zale restructures after icy Christmas
Dec. 31, 1991
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Many retailers, plagued by poor Christmas profits, find January their cruelest month. That's when bills come due and weaker merchants founder.
Zale Corp., the first victim of Christmas 1991, couldn't even wait till January to restructure. Battered by a 10% drop in fourth-quarter revenue, the jewelry retailer said Monday it will close 400 of its nearly 2,500 stores nationwide.
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Federated emerges from Chapter 11; Reinvigorated retailer gives hope to peers
Feb. 6, 1992
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The new Federated Department Stores made its debut on Wall Street on Wednesday, and traders evidently liked what they saw: a focused, proven management team steering what remain some of the great names in retailing.
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Icahn may take flight; TWA may go to creditors, employees
Aug. 4, 1992
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Carl Icahn took over Trans World Airlines in 1986 to save it.
Now he may give it up to his creditors and employees for the same reason.
If he does, it will be a stunning reversal for one of the 1980's most-feared corporate raiders, a successful financier who once saw TWA as a chance to practice what he preached about how companies should be run. TWA was Icahn's most visible acquisition - the day he bought the company, he celebrated by donning a pilot's jacket and cap - but his least successful.
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Wang seeks protection from creditors
Aug. 19, 1992
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Wang Laboratories filed Tuesday for Chapter 11 bankruptcy-court protection, casting fresh doubt on the computer maker's future as an independent company.
The filing protects the company from creditors and gives it time to reorganize assets while continuing to operate. Richard Miller, Wang's chief executive, says he expects Wang to emerge from Chapter 11 as a smaller company.
