June 18, 2016 |
The final buzzers will begin sounding for Sports Authority on Sunday as its Cherry Hill sporting-goods store closes for good. Other Sports Authority stores will soon follow. The one in Langhorne, Bucks County, on East Lincoln Highway, will close sometime in August. The retailer's predicament reflects the broader trend of bricks-and-mortar stores struggling against the migration of shoppers to the internet. Competitive sports may be cutthroat, but sports retailing is too, experts say. "Sports Authority had seriously large debt issues, but their bigger problem was not adapting and separating themselves from the other big-box retailers like Dick's," said Mark Torres of the Play It Again Sports chain in Deptford, about 12 miles from the Cherry Hill Sports Authority store.
June 14, 2016
Archie Strong and Reba G. Strong, also known as Reba Strong, doing business as Magic by Reba , 104 Woodside Rd., Unit C102, Haverford; Chapter 7; no schedules available. Elements to Wellness Inc. , 16-13924; Chapter 7; no schedules available. Richard Cronrath, also known as Richard M. Cronrath , 102 Frog Ocean Rd., Salem; Chapter 7; no schedules available. Kentucky Associates L.L.C. , 105 N. High St., Millville; Chapter 11; no schedules available. Irving Juffe and Gloria Perino Juffe , 15 Chelsea Ct.; Atlantic City; Chapter 7; no schedules available.
June 2, 2016 |
The Midtown II, a landmark diner and bar that has thrived on the edge of the city's Gayborhood for 43 years, will close its doors for good next week, the result of a series of financial setbacks that landed its owner in bankruptcy court. According to documents filed last week in U.S. District Court in New Jersey, the diner's owner, Gus Hionas, has agreed to relinquish ownership of the Midtown II and its liquor license to its creditors to settle at least $4.2 million in debts. Hionas, who founded the Midtown II in 1974, declined to comment on the bankruptcy.
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.