Bankruptcy

  1. MP3tunes.com Files for Bankruptcy

    May 11, 2012 12:44 AM EDT MP3tunes.com announced Thursday that it filed for bankruptcy in San Diego, according to multiple media reports. The company, founded by former MP3.com founder Michael Robertson in 2005, had been battered with lawsuits from EMI since 2007. "Fo ...

  2. TLC's Tionne 'T-Boz' Watkins Files for Bankruptcy -- for Second Time This Year

    November 28, 2011 5:52 PM EST After declaring bankruptcy along with her group TLC in the mid-'90s, Tionne "T-Boz" Watkins has filed for Chapter 13 for the second time this year after defaulting on mortgages on her Atlanta, Georgia home and failing to keep up wit ...

  3. Borders To Liquidate Assets Upon Court Approval

    July 18, 2011 7:31 PM EDT NEW YORK (AP) - Borders Group is seeking court approval to liquidate its 399 stores after it failed to receive any bids that would keep the 40-year-old chain in operation and canceled an auction process. BORDERS FILES CHAPTER 11, TO CLOSE 200 STOR ...

  4. Borders' Chapter 11: What Impact Will It Have On The Music Business?

    February 16, 2011 6:34 PM EST The Borders Group's Chapter 11 filing shouldn't have too much of an impact on the music industry in general: Over the last two years the Ann Arbor-based merchant has made deep cuts in its music commitment. But it will have a big impact o ...

  5. Borders Files Chapter 11, To Close 200 Stores

    February 16, 2011 8:00 AM EST Borders Group is filing for Chapter 11 bankruptcy reorganization after a long struggle to stay afloat as the book and music businesses changed beneath its feet. The 40-year-old company plans to close about 30 percent of its stores, or about 200, o ...

  6. Blockbuster To File For Bankruptcy This Week

    September 22, 2010 12:00 AM EDT Video rental giant Blockbuster is expected to file for Chapter 11 bankruptcy protection as early as today, the Wall Street Journal reported Wednesday, citing sources. Investor Carl Icahn, who owns about a third of the firm's senior debt, is p ...

  7. Buyer of CBGB Brand Files For Bankruptcy

    June 14, 2010 12:00 AM EDT The company that bought the right to market the name of the legendary New York City rock club CBGB has filed for bankruptcy. In its punk heyday, CBGB hosted acts such as the Ramones, the Talking Heads, Patti Smith and Blondie. The venue closed in ...

  8. Borders U.S. Shareholder: Bankruptcy Not Likely

    February 04, 2010 12:00 AM EST William Ackerman, CEO of hedge fund Pershing Square Capital, has said Borders U.S. is not a "likely bankruptcy." Ackerman, whose company is Borders U.S.' largest shareholder, also told CNBC's "Fast Money" show that he ...

  9. Source Interlink Files 'Pre-packaged' Chapter 11

    April 28, 2009 12:00 AM EDT Source Interlink, which owns Alliance Entertainment, has filed a "pre-packaged" Chapter 11, that will wipe out current shareholders holders, see a consortium of banks led by Citigroup Global Markets, Inc. and J.P. Morgan Securities conve ...

  10. Muzak Files For Bankruptcy

    February 10, 2009 12:00 AM EST Muzak Holdings LLC, the maker of elevator music, filed for Chapter 11 bankruptcy protection Tuesday. The company had heavy debt load, and it filed to try to refinance some of its debt. Its total debt is between $100 million and $500 million and it ...

  11. Death Row Assets Auctioned For $18 Million

    January 15, 2009 12:00 AM EST The assets of Death Row Records, said to include master recordings of Tupac Shakur, Snoop Dogg and Dr. Dre, were auctioned off today (Jan. 15) for $18 million to WIDEawake Entertainment Group, a development company out of Canada. Because of the le ...

  12. Circuit City Says In Deal Talks With Two Parties

    January 09, 2009 12:00 AM EST Circuit City Stores Inc said on Friday that it was in deal talks with two parties that could either buy the bankrupt electronics chain or provide additional financing. Mexican retail and media mogul Ricardo Salinas Pliego, who has built up a stake ...

  13. Country Music Shrine To Keep Historic Instruments

    December 31, 2008 12:00 AM EST The Country Music Hall of Fame and Museum will get to keep historic instruments from Bill Monroe, Johnny Cash and Mother Maybelle Carter pledged by a man who committed suicide after being accused of defrauding millions from investors. The settleme ...

  14. Dr. Dre Seeking Death Row Documents

    February 09, 2008 12:00 AM EST Dr. Dre wants to investigate Death Row Records Inc. to determine how much the record company owes him for unpaid royalties from sales of his records. Dr. Dre, whose real name is Andre Young, has already tried to sue the record label for royalties ...

  15. Dods AWOL As NZ's Sounds Goes Into Liquidation

    January 31, 2008 12:00 AM EST As expected, the company behind New Zealand's largest specialist music chain was formally placed in liquidation today (Jan. 31), with the majority of creditors unlikely to see any of NZ$25 million ($19 million)-plus owed. At a watershed meeti ...

  16. NZ Retailer Prepares To Sound-Off

    January 23, 2008 12:00 AM EST Liquidation is looming for New Zealand's largest specialty music retailer Sounds, with the administrators of its parent company recommending it be wound-up. In a report issued today (January 23), administrator BDO Spicers recommends that the ...

  17. Unique Distributors To Close

    January 10, 2008 12:00 AM EST Unique Distributors, the New Hyde Park, N.Y.-based one-stop specializing in new and classic 12" vinyl singles and LPs as well as DJ accessories, will shut its doors by the end of this month and liquidate, after 27 years of operation, accordin ...

  18. Creditor Votes Due For Tower Records Plan

    July 17, 2007 12:00 AM EDT Creditor votes are due tomorrow on the Tower Records disclosure statement and the process plan. That plan calls for an impartial third party to be named as the sole administrator to decide disputes between the various creditor classes going forwar ...

  19. The Source Files for Bankruptcy

    May 01, 2007 12:00 AM EDT Source Magazine LLC and affiliate Source Entertainment Inc. have filed for Chapter 11 bankruptcy after dishonest business practices by former management caused the hip-hop media outlet's advertisers to flee, according to court papers. The com ...

  20. French SCPP Sets Up Members' Fund

    October 16, 2006 12:00 AM EDT French collecting society SCPP has launched an estimated €200,000 ($250,000) fund to help its record company members overcome the bankruptcy of Night and Day, the independent distributor that we French collecting society SCPP has launche ...

  21. RETAIL TRACK: OPENING ROUND

    September 23, 2006 12:00 AM EDT Just because a liquidator appears to be the only bid so far in the Chapter 11 auction of Tower Records doesn't mean the chain will be liquidated. Good thing, because for many in the industry, a Tower Just because a liquidator appears to be th ...

  22. RETAIL TRACK: OPENING ROUND

    September 23, 2006 12:00 AM EDT Just because a liquidator appears to be the only bid so far in the Chapter 11 auction of Tower Records doesn't mean the chain will be liquidated. Good thing, because for many in the industry, a Tower Just because a liquidator appears to be th ...

  23. RETAIL TRACK: OPENING ROUND

    September 23, 2006 12:00 AM EDT Just because a liquidator appears to be the only bid so far in the Chapter 11 auction of Tower Records doesn't mean the chain will be liquidated. Good thing, because for many in the industry, a Tower Just because a liquidator appears to be th ...

  24. Tower Records Files For Bankruptcy

    August 21, 2006 12:00 AM EDT Tower Records filed a Chapter 11 petition in federal bankruptcy court yesterday (Aug. 20). The owners want the court to facilitate a prompt sale of their business "as a going concern" so that a buyer MTS Inc. and all of its subsidiaries, ...

  25. Judge Orders Bankruptcy Takeover Of Death Row

    July 10, 2006 12:00 AM EDT A federal judge on Friday (July 7) ordered a bankruptcy trustee takeover of Marion "Suge" Knight's Death Row Records, saying the record label has undergone gross mismanagement. A federal judge on Friday (July 7) ordered a bankruptcy ...

  26. 'Suge' Knight, Death Row File For Bankruptcy

    April 04, 2006 12:00 AM EDT Debts total more than $120 million. Marion "Suge" Knight Jr. and Death Row Records filed petitions for bankruptcy today (April 4) avoiding more than $120 million in debts and the threat of a California judge ordering a court officer to t ...

  27. Musicland Hoping For A Buyer

    January 13, 2006 12:00 AM EST Co. also preparing going-out-businesses sales. In first day (Jan. 13) motions in the Chapter 11 filing of the Musicland Group in the U.S. Bankruptcy Court for the Southern District of New York, it was revealed the company is up for sale with the g ...

  28. Musicland Group Files For Chapter 11

    January 12, 2006 12:00 AM EST Chain in process of liquidating 61 Media Play stores. As expected, the Musicland Group filed for Chapter 11 protection late Thursday afternoon in the U.S. Bankruptcy Court Southern District of New York. The chain has been experiencing financial di ...

  29. Sony BMG Loses $60 Million In Q2

    October 27, 2005 12:00 AM EDT Attributes loss to restructuring, 'harsh' market. Attributes loss to restructuring, 'harsh' market. News ...

  30. Behind the Deal: Contracts Covering Bankruptcy

    July 26, 2005 12:00 AM EDT Few music lovers feel a thrill hearing horror stories of recordings getting tied up in a label's bankruptcy. When it happens, a label's rights to an artist's services, sound-recording copyrights, mast Few music lovers feel a thrill ...

  31. WMG Eyes $581M From IPO

    April 08, 2005 12:00 AM EDT Most proceeds will pay debt, owners. Most proceeds will pay debt, owners. News ...

  32. Lenders Shutter Dart Distributing

    February 07, 2005 12:00 AM EST Bank mulling sale or liquidation. Bank mulling sale or liquidation. News ...

  33. Tower Reorganization Gets Court Approval

    March 15, 2004 12:00 AM EST Tower Records' reorganization plan was approved today (March 15) by a bankruptcy court in Wilmington, Del., making the retailer's stay in Chapter 11 the shortest by a music-related company in more tha Tower Records' reorganization p ...

  34. Tower Reorganization Gets Court Approval

    March 15, 2004 12:00 AM EST Tower Records' reorganization plan was approved today (March 15) by a bankruptcy court in Wilmington, Del., making the retailer's stay in Chapter 11 the shortest by a music-related company in more tha Tower Records' reorganization p ...

  35. New WMG Regime Readies Pink Slips

    March 02, 2004 12:00 AM EST Restructuring process to play out over the next month. Restructuring process to play out over the next month. News ...

  36. Bankruptcy Court OK's Initial Tower Motions

    February 10, 2004 12:00 AM EST The U.S. Bankruptcy Court in Wilmington, Del., approved most of Tower Records' first-day motions today (Feb. 10), including the ability to pay pre- and post-petition debt. The U.S. Bankruptcy Court in Wilmington, Del., approved most of Tower ...

  37. Retail Track

    February 09, 2004 12:00 AM EST Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . News ...

  38. Retail Track

    February 09, 2004 12:00 AM EST Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . News ...

  39. Retail Track

    February 09, 2004 12:00 AM EST Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . Tower Records is heading towards a rare "pre-packaged" Chapter 11 bankruptcy by the end of February . News ...

  40. Update: Tower Turns To Chapter 11 Court

    February 05, 2004 12:00 AM EST When Tower Records heads into a Delaware bankruptcy court within the next week, the first motions it files are expected to be one that will convert bondholders into majority owners of the chain and on When Tower Records heads into a Delaware bankr ...