Rite Aid has claimed in a court filing Tuesday (May 6) that its inability to sustain a successful recovery and its subsequent return to bankruptcy protection is primarily due to sparsely stocked store shelves and to trade-down from lower-income consumers. In this court declaration, Marc...
Rite Aid Corp. said Monday (May 5) that it has filed for Chapter 11 bankruptcy protection again, less than a year after emerging from a previous restructuring effort. This bankruptcy filing would be the company’s second in under three years. Rite Aid initially filed for...
A trio of lawmakers want answers from 23andMe about the security of its customer data. In a letter to the bankrupt genetic testing service Thursday (April 17), members of the House Committee on Energy and Congress expressed concerns that this data could be compromised following...
The protracted Synapse Financial Technologies bankruptcy is nearing its final stages with a whimper rather than a bang. Late last week (April 10) Trustee Jelena McWilliams filed a status report with the Central California Bankruptcy Court that laid the ground for dismissal or conversion of...
April 14, 2025
The protracted Synapse Financial Technologies bankruptcy is nearing its final stages with a whimper rather than a bang. Late last week (April 10) Trustee Jelena McWilliams filed a status report with the Central California Bankruptcy Court that laid the ground for dismissal or conversion of the case to Chapter 7. McWilliams stated in the report […]
December 16, 2024
Big Lots’ Chapter 11 bankruptcy filing and upcoming acquisition by Nexus Capital Management revealed the deep-rooted issues in the company’s business model, particularly its struggle to adapt to the digital age. In...
June 21, 2024
The relationships between FinTechs, banks and neobanks has been placed under a harsh spotlight with the recent revelations around the Synapse bankruptcy. The reaction from the industry so far has...
June 17, 2024
The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...
May 19, 2025
Rite Aid is reportedly closing additional stores while handing off business to rivals. The drugstore chain, which recently filed for bankruptcy for the second time, has revealed 95 locations it wants to shut down, Fast Company reported, citing a court filing. The locations are spread across six states, but are primarily based in Rite Aid’s home state […]
May 06, 2025
Rite Aid has claimed in a court filing Tuesday (May 6) that its inability to sustain a successful recovery and its subsequent return to bankruptcy protection is primarily due to...
May 05, 2025
Rite Aid Corp. said Monday (May 5) that it has filed for Chapter 11 bankruptcy protection again, less than a year after emerging from a previous restructuring effort. This bankruptcy...
April 17, 2025
A trio of lawmakers want answers from 23andMe about the security of its customer data. In a letter to the bankrupt genetic testing service Thursday (April 17), members of the...
