Gossip

After filing for bankruptcy to deal with her reported $4 million in debt, Lil’ Kim took to social media over the weekend to let everyone know that she “can’t be touched.” As news of her latest financial woes were going viral, including her New Jersey mansion reportedly headed for the auction block, Kim addressed the […]

TV & Film

NEW YORK (AP) — The Weinstein Co. filed for bankruptcy protection on Monday with a buyout offer in hand from a private equity firm, the latest twist in its efforts to survive the sexual misconduct scandal that brought down co-founder Harvey Weinstein, shook Hollywood and triggered a movement that spread out to convulse other industries. […]

The holiday season is fast approaching. But a major retailer, Toys R Us, is struggling. Why? It has been a tough road for this company. They have been in a vicious financial cycle since they were acquired by investors twelve years ago for $6.6 billion. The purchase was a leveraged buyout, meaning the investors took […]

National News

NEW YORK (AP) — Toys ‘R’ Us, the big box toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season — and says its stores will remain open for business as usual. The company said the proceedings are a way for […]

Entertainment

Olympic Gold Medalist Gabby Douglas was on the verge of losing her family home until her mother was able to drop thousands of dollars in back mortgage payments, saving the home from being sold in a foreclosure auction. Natalie Hawkins, Gabby’s mom, filed for Chapter 13 bankruptcy back in 2012. According to the bankruptcy petition, […]

Entertainment

HARTFORD, Conn. (AP) — The rapper and actor known as 50 Cent has filed for federal bankruptcy protection, days after a jury ordered him to pay $5 million in an invasion-of-privacy lawsuit. Curtis Jackson III, who owns a home in Farmington, filed for Chapter 11 bankruptcy protection in U.S. District Court in Hartford on Monday. […]

National News, News

DETROIT (AP) — The formalities may be over for Detroit, which officially exits bankruptcy after midnight Wednesday and shrugs off the yoke of state receivership. But efforts to make the Motor City livable for residents and appealing to businesses will likely have to last for years to come. “The reality is tomorrow’s not any different […]

According to Gary With Da Tea, a “Love & Hip Hop” star is dirt broke! And when we say broke, we mean BROKE! Listen to Gary’s Tea…

National News, News

DETROIT (AP) — The largest U.S. city to endure bankruptcy has exited insolvency $7 billion lighter in debt, but the effects of civic neglect linger for many in Detroit who still fall asleep to echoes of gunfire and awake surrounded by blocks and blocks of abandoned houses. A federal judge on Friday approved outgoing emergency […]

National News

DETROIT (AP) — One of Detroit’s fiercest opponents in bankruptcy once compared the city’s fix-it plan to an automobile “lemon” fit for the “scrapyard.” Now that same creditor, bond insurer Syncora, is making peace with Detroit in the largest bankruptcy in U.S. history under a deal that could shorten a historic trial and move the […]

Top News

DETROIT (AP) — A year after filing for bankruptcy, Detroit is building momentum to get out, especially after workers and retirees voted in favor of major pension changes just a few weeks before a judge holds a crucial trial that could end the largest public filing in U.S. history. Pension cuts were approved in a […]

National News

FLINT, Mich. (AP) — As Detroit works to emerge from bankruptcy following a court-supervised overhaul, another Michigan city with strong auto industry bonds could be on the brink of beginning the same process, the latest sign that the spate of municipal defaults may not have ended. Flint, which was the birthplace of General Motors and […]