May 17, 2016
3C Enterprises II Inc., doing business as Keller's Family Market , 2850 Audubon Village Dr., Audubon; Chapter 11; no schedules available. Laura Cousins-Washington, formerly known as Laura Cousins, doing business as Fresh and So Clean , 705 Holly Dr., Stowe; Chapter 13; no schedules available. Tracey Denis Jackson, doing business as Trajax Transportation Service , 8249 Forrest Ave., Philadelphia; Chapter 7; no schedules available. Juan L. Torres, doing business as Torres Mini Market , 1048 E. Chelten Ave., Philadelphia; Chapter 13; no schedules available.
May 14, 2016 |
Penn Virginia Corp. of Radnor, one of the region's oldest surviving businesses, filed for bankruptcy protection Thursday, a casualty of the worldwide plunge in energy prices. Founded in 1882 by Philadelphia coal barons, the company transitioned to shale-oil production in recent years but was overwhelmed by last year's oil-price collapse, which eroded its revenue and diminished the value of its oil and gas reserves. The company, whose acreage is concentrated in Texas but includes holdings in Pennsylvania's Marcellus Shale region, listed assets of $518 million and debts of $1.4 billion in filings with the U.S. Bankruptcy Court for the Eastern District of Virginia.
May 11, 2016 |
Philadelphia Streets Commissioner Donald Carlton was arrested Friday for allegedly punching an unidentified man "multiple times in the face" at a house party in Olney last December, according to the District Attorney's Office. Philadelphia police said that about 6:30 p.m. Dec. 6, Carlton and a 50-year-old man had an argument inside a house on the 6000 block of North American Street. The argument escalated to a fight, police said. The victim, who was not identified, suffered a fractured rib and a bruised eye, District Attorney's Office spokesman Cameron Kline said.
May 3, 2016
Richard L. Weber Sr., also known as Dick Weber, doing business as Weber State Farm Insurance, 631 E. High St., Pottstown; Chapter 13; no schedules available. Walton Motivation Inc., Reading; Chapter 7; no schedules available. Lehigh Valley Properties Inc. , Reading; Chapter 11; no schedules available. Taylor Gifts Inc. , 600 Cedar Hollow Rd., Paoli; Chapter 7; no schedules available. Commonwealth Health Associates Inc. , 1430 Dekalb St., Suite 300, Norristown; Chapter 7; no schedules available.
May 1, 2016 |
Penn Virginia Corp., the embattled Radnor oil and gas producer, stated Friday in a U.S. Securities and Exchange Commission filing that it is "highly likely" it will seek Chapter 11 bankruptcy protection to restructure $1.2 billion in debt. The company, which is among many U.S. oil and gas producers in financial trouble because of low energy prices, acknowledged in its first-quarter earnings report that it is in default under its revolving credit agreement. Its lenders have agreed not to declare default until May 10 if certain conditions have been satisfied.
April 18, 2016 |
Close calls don't count in sports retailing, and that helps explain why it will soon be lights out for the Sports Authority store in Cherry Hill. The field is crowded - Dick's Sporting Goods (the 800-pound gorilla because of its scale), Modell's, REI, Cabela's, and Bass Pro Shops are among the players vying for the sporting dollar. There's also Schuylkill Valley Sports, an employee-owned firm with 18 stores in the Philadelphia region, and City Sports, an East Coast chain that tanked and is being revived by two Wharton-trained brothers.
April 15, 2016 |
Lawyers for the defunct Foxwoods casino project in South Philadelphia lost their bid in bankruptcy court to recoup the $50 million license fee Foxwoods paid in 2007. In a 64-page ruling Friday, U.S. Bankruptcy Judge Magdeline D. Coleman rejected the Foxwoods group's arguments under bankruptcy code and said she did not have jurisdiction over certain other counts, which belong in state court. A lawyer for the Foxwoods group - formally known as Philadelphia Entertainment & Development Partners L.P. - said he would recommend that his client appeal the bankruptcy issues to U.S. District Court for the Eastern District of Pennsylvania.