Rocky Hill, CT
Business
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy A Texas restaurant company is set to buy On The Border Mexican Grill & Cantina after the Tex-Mex chain filed for bankruptcy, closing more than 70 locations – including more than a dozen in the Northeast. Pappas Restaurants won an auction for On The Border, the Houston-based group said in a news release on Wednesday, May 7. The deal needs court approval and is expected to be finalized "in the coming weeks." The price wasn't mentioned in Pappas' announcement. The company previously submitted a $15.9 million stalking horse bid to buy On The Border, FSR Magazine reported in A…

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by Chris Spiker
Doylestown, PA
News
Dead Man’s House Stolen With Help From Bucks County Attorney, Now Sentenced To Prison: DOJ Dead Man’s House Stolen With Help From Bucks County Attorney, Now Sentenced To Prison: DOJ
Dead Man’s House Stolen With Help From Bucks County Attorney, Now Sentenced To Prison: DOJ A Bucks County attorney who took part in a scheme to steal a house from a dead man’s family and filed false claims in federal court is headed to prison, the FBI announced on Tuesday, May 6. Alan Kane, 60, of Jamison, was sentenced to one year and one day in prison, followed by three years of supervised release, according to US Attorney David Metcalf. He must also pay $160,072 in restitution and a $1,000 fine, as ordered by U.S. District Court Judge Michael M. Baylson on Monday, April 28. A federal jury convicted Kane in September of two counts of bankruptcy fraud, one count of filing a fals…

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by Jillian Pikora
Drexel Hill-Upper Darby, PA
Business
Philly-Based Rite Aid Files For Bankruptcy Again: What It Means For Your Prescriptions Philly-Based Rite Aid Files For Bankruptcy Again: What It Means For Your Prescriptions
Philly-Based Rite Aid Files For Bankruptcy Again: What It Means For Your Prescriptions Rite Aid has declared bankruptcy for the second time in less than two years, as part of a plan to sell off its pharmacies, inventory, and other assets. The Philadelphia-based pharmacy chain officially filed for Chapter 11 bankruptcy on Monday, May 5. Rite Aid has entered talks with several potential national and regional buyers. The company said it has secured $1.94 billion in new financing to keep most stores open during the process. Pharmacy services and immunizations will remain available in-store and online. In October 2023, Rite Aid previously filed for bankruptcy …

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by Chris Spiker
Annville-Cleona, PA
Business
Cleona Big Lots Among 130+ Stores Reopening: See The Full List Cleona Big Lots Among 130+ Stores Reopening: See The Full List
Cleona Big Lots Among 130+ Stores Reopening: See The Full List Big Lots is ramping up its comeback plans under new ownership by opening more than 130 stores, including nearly two dozen in Pennsylvania and Virginia. The discount chain plans to reopen 132 stores across 14 states in May, Variety Wholesalers announced in a news release on Monday, April 28. Pennsylvania (13 stores) and Virginia (10 stores) are among the top states for returning locations. Big Lots will reopen 54 stores on Thursday, May 1, and 78 locations on Thursday, May 15. "The customer response to the newly expanded assortment of fresh inventory and great deals has been overw…

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by Chris Spiker
Chester, PA
News
Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?' Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?'
Crozer Health Closure Sparks Emergency Declaration In Chester: 'Where Will Our Patients Go?' A health crisis is unfolding in Delaware County, where officials and caregivers are pleading for intervention as Prospect Medical moves to shut down Crozer Health. Crozer Health’s hospitals and facilities, including Crozer-Chester Medical Center and Taylor Hospital, are set to close within 30 days, the company announced on Monday, April 21. Emergency departments at both hospitals will stop accepting patients starting Wednesday, April 23, Prospect Medical officials confirmed. That closure prompted Chester Mayor Stefan Roots to declare a state of emergency on Tuesday, April 22, allowing the c…

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by Jillian Pikora
Atlantic City, NJ
Business
Spirit Airlines Hires New CEO From Competitor After Flying Out Of Bankruptcy Spirit Airlines Hires New CEO From Competitor After Flying Out Of Bankruptcy
Spirit Airlines Hires New CEO From Competitor After Flying Out Of Bankruptcy Spirit Airlines is bringing in new leadership to guide its economic reroute after emerging from bankruptcy and shedding nearly $800 million in debt. Dave Davis will take over as Spirit's new president and CEO starting Monday, April 21, the company said in a news release. Since December 2019, Davis has been the president of fellow budget carrier Sun Country Airlines. Davis will also join Spirit's board of directors. "We're excited to welcome Dave as Spirit's new president and CEO," Spirit's board chair Robert Milton said. "He brings with him a wealth of experience and a solid track rec…

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by Chris Spiker
Shrewsbury, MA
Business
The Ground Round Returns To MA, Promising 'Great Food And Unforgettable Memories' In Shrewsbury The Ground Round Returns To MA, Promising 'Great Food And Unforgettable Memories' In Shrewsbury
The Ground Round Returns To MA, Promising 'Great Food And Unforgettable Memories' In Shrewsbury A nostalgic favorite in family-friendly dining has officially returned to Massachusetts. The Ground Round in Shrewsbury is now offering limited dinner service, the restaurant announced on its Facebook page. It's located at 271 Grafton Street, in the former home of a Chinese-Japanese restaurant named Bauhinia. A grand opening celebration will be held on Wednesday, April 30. "First few days have been incredible, thank you to all who stopped in this weekend," The Ground Round posted on Monday, April 7. "Fish & Chips and Steak Tips were flying out of the kitchen!" The bar is open for walk…

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by Chris Spiker
Atlantic City, NJ
Business
Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut
Spirit Airlines CEO Resigns After Bankruptcy Exit, $800M Debt Cut Spirit Airlines is changing its senior leadership after exiting bankruptcy and shedding nearly $800 million in debt. Ted Christie, who has led the airline since 2019, stepped down as CEO and president on Monday, April 7. He also resigned from the board of directors for the company based in Dania Beach, Florida. The board has not yet named a permanent replacement, opting for an interim "Office of the President," made up of executive vice president and CFO Fred Cromer, executive vice president and COO John Bendoraitis, and senior vice president and general counsel Thomas Canfield. "Ted has k…

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by Chris Spiker
Hartford, CT
Business
Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing
Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing Big Lots stores will reopen under new ownership more than seven months after the chain filed for bankruptcy. Discount retailer Variety Wholesalers, the new owner of Big Lots, announced the reopening plan in a news release on Friday, April 4. Big Lots applied for bankruptcy in September 2024 and Variety Wholesalers purchased hundreds of locations about three months later. Variety is planning a four-phase rollout following the company’s acquisition of 219 Big Lots locations out of bankruptcy. "We're thrilled to bring the Big Lots! brand back to life by offering more deals…

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by Chris Spiker
Hartford, CT
Business
Hooters Files For Bankruptcy, Joining Wave Of Struggling Restaurant Chains Hooters Files For Bankruptcy, Joining Wave Of Struggling Restaurant Chains
Hooters Files For Bankruptcy, Joining Wave Of Struggling Restaurant Chains Hooters, the restaurant famous for chicken wings and waitresses with skimpy outfits, is the latest national chain to file for bankruptcy. Hooters of America officially announced the Chapter 11 bankruptcy filing in a news release on Monday, Mar. 31. The Atlanta-based company filed for bankruptcy in a Texas federal court as part of a plan to sell off its corporate-owned locations and shift to a franchise-only model. The company said the move comes with "near unanimous support from key stakeholders" and aims to streamline operations while keeping all restaurants open during the restructuring p…

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by Chris Spiker
Hartford, CT
Business
Burrito Panic Over: Chipotle Denies Closure Rumors After Bankruptcy False Claim Spreads Burrito Panic Over: Chipotle Denies Closure Rumors After Bankruptcy False Claim Spreads
Burrito Panic Over: Chipotle Denies Closure Rumors After Bankruptcy False Claim Spreads Don't worry, Chipotle fans. Barbacoa burritos aren't going anywhere. Chipotle Mexican Grill has denied social media rumors that claimed the fast-casual restaurant chain is closing locations and filing for bankruptcy. A company spokesperson confirmed Chiptole isn't downsizing in an email to the Daily Voice on Wednesday, Mar. 26. The rumors appear to have started with a story by Madrid-based outlet Unión Rayo, Newsweek reported. The aggregate site from Spain used an image of the Chipotle logo while reporting on the closure of the chain's spinoff, Farmesa Fresh Eatery. The test location …

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by Chris Spiker
Webster, MA
Business
Ocean State Job Lot Moving Into Former Big Lots In Webster, 14 Other Stores: Here's Where Ocean State Job Lot Moving Into Former Big Lots In Webster, 14 Other Stores: Here's Where
Ocean State Job Lot Moving Into Former Big Lots In Webster, 14 Other Stores: Here's Where Ocean State Job Lot is taking over more than a dozen former Big Lots locations, bringing the discount retail chain to new communities across the Northeast and mid-Atlantic. Ocean State Job Lot has acquired 15 former Big Lots stores, the company said in a news release on Wednesday, Mar. 19. The acquisitions come after Big Lots filed for bankruptcy in September 2024. The expansion will include Ocean State opening its first store in Delaware. "This is an exciting chapter for us," said Ocean State CEO and principal owner Marc Perlman. "Expanding into new markets has long been part of…

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by Chris Spiker