BUSINESS
February 25, 2013
North Wales Millwork Inc. , c/o 913 Tennis Way, Lansdale; Chapter 7; no schedules available. Powell Steel Corp ., 625 Baumgardner Rd., Lancaster; Chapter 11; no schedules available. Lawrence E. Feldman formerly doing business as Lawrence E. Feldman & Associates, Attorney at Law and Robyn Feldman, 1410 Academy Rd., Elkins Park; Chapter 7; no schedules available. BPMUM Child Development Center Inc. , 622 Cooper St., 2d floor, Camden; Chapter 7; Assets, $290,000; liabilities, $410,137.40 Kuzina Express L.L.C.
NEWS
February 22, 2013 | By Suzette Parmley, Inquirer Staff Writer
ATLANTIC CITY - The plight of the lavishly expensive but bankruptcy-bound Revel means more than just the future of one casino. It also means the potential loss of a key ingredient in the desperate city's blueprint for recovery. With Revel's financial challenges, questions abound regarding Atlantic City's ability to alter its image as more than just a place to gamble. The architects of a reimagined Atlantic City - one that would counter gambling competition from Pennsylvania and elsewhere - saw Revel as a more diversified destination.
NEWS
February 21, 2013 | By Suzette Parmley, Inquirer Staff Writer
The company that owns Revel, the lavish yet financially troubled Atlantic City casino that opened just 10 months ago, announced Tuesday night that it is filing for bankruptcy protection. In a statement just before 8 p.m., Revel AC Inc. said it had "reached an agreement with a majority of its lenders to significantly reduce its debt through . . . a prepackaged Chapter 11 bankruptcy filing. " The move is intended to provide Revel with about $250 million in debtor-in-possession financing, with about $45 million in new money commitments, according to the statement, and about $205 million in pre-petition debt.
BUSINESS
February 20, 2013 | By Suzette Parmley, INQUIRER STAFF WRITER
The company that owns Revel, the lavish yet financially troubled Atlantic City casino that opened just 10 months ago, announced Tuesday night that it is filing for bankruptcy protection. In a statement just before 8 p.m., Revel AC Inc. said it had "reached an agreement with a majority of its lenders to significantly reduce its debt through . . . a prepackaged Chapter 11 bankruptcy filing. " The move is intended to provide Revel with about $250 million in debtor-in-possession financing, with about $45 million in new money commitments, according to the statement, and about $205 million in pre-petition debt.
BUSINESS
February 17, 2013 | By Harold Brubaker, Inquirer Staff Writer
When Hostess Brands Inc. closed its bakeries in November, Campbell Soup Co.'s Pepperidge Farm subsidiary stepped in. "Due to the Hostess bankruptcy, we were able to get extra shelf space," Campbell's chief executive, Denise M. Morrison, said Friday during a conference call on the Camden company's earnings for the quarter that ended Jan. 27. Campbell did not provide specifics on sales gains that could be attributed to that extra shelf...
BUSINESS
January 10, 2013
In the Region Mine drainage proposed for fracking The Pennsylvania Department of Environmental Protection has finalized a process to encourage the use of acid mine drainage for hydraulic fracturing, part of an effort to reduce the use of freshwater in extracting oil and gas from shale. The DEP's white paper says that proposals to use "mine-influenced" water must include sampling and characterization of the water, as well as details about how the water will be transported, stored and used.