Neowin News Feed for: Bankruptcy

Roomba maker iRobot files for bankruptcy

Usama Jawad — Mon, 15 Dec 2025 13:04:01 +0000

U.S. firm iRobot has filed for Chapter 11 bankruptcy protection. All its shares will be sold to a Chinese ODM with existing investors losing all their money. Read more...

FTX receives approval to repay funds back to 98% of its customers worldwide

Karthik Mudaliar — Tue, 08 Oct 2024 05:20:02 +0000

FTX has received court approval for a significant repayment plan, allowing it to return funds to approximately 98% of its customers worldwide. Read more...

Virgin Orbit files for bankruptcy days after laying off 85% of staff

Paul Hill — Tue, 04 Apr 2023 08:22:01 +0000

Virgin Orbit has filed for Chapter 11 bankruptcy after it failed to secure more funding. The announcement comes just days after the firm laid off 85% of its workforce or 675 employees. Read more...

Another day, another crypto firm goes under: Genesis files for bankruptcy

Paul Hill — Fri, 20 Jan 2023 18:17:35 +0000

The crypto firm Genesis has filed for Chapter 11 bankruptcy in New York, the company said. Three Genesis subsidiaries are involved but some others are not. It plans to get through the process quickly. Read more...

The Bahamas secured $3.5 billion of FTX's assets to give back to customers and creditors

Paul Hill — Fri, 30 Dec 2022 22:48:02 +0000

The Bahamian authorities have disclosed that they're holding on to $3.5 billion worth of FTX's assets. It took control of them following the company's bankruptcy so they don't go missing. Read more...

BlockFi files for Chapter 11 bankruptcy due to financial links with FTX

Paul Hill — Mon, 28 Nov 2022 16:48:01 +0000

BlockFi has filed for Chapter 11 bankruptcy just weeks after halting withdrawals. Customers with assets on the platform should be able to file claims during the process to retrieve some assets. Read more...

Visa cuts ties with collapsed crypto exchange FTX

Karthik Mudaliar — Mon, 14 Nov 2022 08:14:01 +0000

Visa has terminated its global debit card agreements with FTX, which has now declared bankruptcy. The Bahama-based crypto exchange platform had launched crypto debit cards with Visa in October 2022. Read more...

FTX investigating "abnormalities" in wake of bankruptcy filing

Steve Bennett — Sun, 13 Nov 2022 11:08:01 +0000

Following the recent bankruptcy filing by cryptocurrency exchange FTX, there have now been investigations opened into abnormalities, with findings of assets being moved in "suspicious circumstances." Read more...

FTX files for bankruptcy, Sam Bankman-Fried steps down as CEO

Paul Hill — Fri, 11 Nov 2022 16:14:20 +0000

FTX has filed for Chapter 11 bankruptcy and Sam Bankman-Fried has stepped down as CEO. The firm will now try to monetize its assets to pay back stakeholders, including those who lost their assets. Read more...

Twitter CEO Elon Musk warns company is at risk of bankruptcy

Paul Hill — Fri, 11 Nov 2022 03:32:01 +0000

Twitter could face bankruptcy soon, depending on whether it can start to make money and based on how long the downturn lasts. As a first step, Elon Musk has been pushing for an $8 subscription model. Read more...

Google Russia is filing for bankruptcy after officials seize its accounts

Mehrotra A — Thu, 19 May 2022 05:44:01 +0000

Google's Russian subsidiary has announced that it will be filing for bankruptcy after authorities seized its bank account making it impossible for the company to pay for salaries and other expenses. Read more...

SpaceX rival, OneWeb, files for bankruptcy due to COVID-19

Paul Hill — Sat, 28 Mar 2020 09:46:02 +0000

OneWeb has announced that it's filing for bankruptcy. The firm was responsible for launching several internet-providing satellites but the economic situation caused by COVID-19 caused it to fail. Read more...

Gionee goes bankrupt owing nearly $2.9 billion; hopes to make comeback in a few years

Timi Cantisano — Wed, 19 Dec 2018 16:56:01 +0000

Gionee, a brand that is known better in Asia and for supplying BLU with some of its products, has filed for bankruptcy. The court accepted the application, with the firm owing nearly $2.9 billion. Read more...

Cambridge Analytica to file for bankruptcy after prolonged media scrutiny

Boyd Chan — Thu, 03 May 2018 10:42:01 +0000

Having found that the vast majority of its customers and suppliers had been driven away given the recent scandal involving data sourced from Facebook, Cambridge Analytica will soon close down. Read more...

Mad Catz has ceased operations and filed for bankruptcy

Timi Cantisano — Fri, 31 Mar 2017 19:08:01 +0000

After nearly three decades of being in the gaming industry, but having a rough time in the last few years, well-known accessory maker Mad Catz has ceased its operations and filed for bankruptcy. Read more...

The Phone House, Dutch telecom retailer, files for bankruptcy

Florin Bodnarescu — Thu, 16 Feb 2017 13:22:01 +0000

Dutch telecom retailer The Phone House (bought by Relevant Holdings BV in 2015) has filed for bankruptcy on Monday, February 13, 2017 in the District Court in The Netherlands. Read more...

Apple pulled bait-and-switch, forced company into bankruptcy, says GTAT exec

Jett Goldsmith — Sat, 08 Nov 2014 01:34:01 +0000

GT Advanced Technologies, which formerly produced sapphire crystals for use in smartphone and other device glass, says it was forced into bankruptcy by shady bait-and-switch tactics from Apple. Read more...

Creditors and investors propose revival of Mt. Gox

Shreyas Gandhe — Tue, 29 Apr 2014 17:55:01 +0000

Creditors and investors of the bankrupt Bitcoin exchange, Mt. Gox, have proposed to revive the exchange in order to get more returns than they would receive by simply liquidating the assets. Read more...

Bitcoin exchange Mt. Gox reportedly files for liquidation

John Callaham — Wed, 16 Apr 2014 07:34:13 +0000

A new report claims that the embattered Bitcoin exchange Mt. Gox has asked a court in Tokyo permission to file for liquidation after filing for bankruptcy protection in late February. Read more...

Mt. Gox finds 200,000 missing bitcoins

Shreyas Gandhe — Fri, 21 Mar 2014 09:47:53 +0000

Japanese Bitcoin exchange, Mt. Gox, has revealed that it has found 200,000 missing bitcoins after searching in wallets which used an old format, but is still far from recovering the remaining 650,000. Read more...

OCZ files for bankruptcy; Toshiba offers to buy most of its assets

John Callaham — Thu, 28 Nov 2013 21:56:01 +0000

OCZ Technology, one of the biggest companies that makes solid state drives, has announced that it will file for bankruptcy and that Toshiba has an offer to buy most of OCZ's assets. Read more...

Atari files for chapter 11 bankruptcy, wants away from its French connection

Brad Sams — Mon, 21 Jan 2013 14:23:34 +0000

Atari's US operations have filed for chapter 11 bankruptcy with the hope that the company will be able to seperate itself from its French parent and will look to raise money using outside investors. Read more...

THQ's assets are going up for bid; is this the end?

John Callaham — Mon, 07 Jan 2013 22:49:00 +0000

THQ will hold an auction later this month, where companies will be able to bid on individual assets of the game publisher such as games, development studios and more. Read more...

THQ files for Chapter 11 bankruptcy

John Callaham — Wed, 19 Dec 2012 19:19:28 +0000

THQ has announced it has filed for Chapter 11 bankruptcy protection as it enters an agreement with Clearlake Capital Group to acquire its assets, although other competing bids can be filed. Read more...

38 Studios files for Chapter 7 bankruptcy

John Callaham — Sat, 09 Jun 2012 14:17:33 +0000

38 Studios had filed for Chapter 7 bankruptcy, meaning that the company will be liquidated. Meanwhile, a criminal probe into what happened at the game development studio has been launched. Read more...

Psystar recovering from bankruptcy, still making products

Sam Symons — Thu, 02 Jul 2009 01:40:55 +0000

Just when we thought it was nearly over, Psystar has thrown us all a curve-ball and returned from the dead, emerging from the bankruptcy they filed for. The news, which was reported by The... Read more...

Psystar files for bankruptcy, slowing Apple's legal case

Sam Symons — Tue, 26 May 2009 21:36:28 +0000

The company Psystar, infamous for selling Mac clones without Apple's permission, has recently filed for Chapter 11 bankruptcy in Florida. The news comes from the Mac Observer, who believes that this recent event means that... Read more...

Warner Bros looking to purchase Midway for $33m

Jonathan Steele — Fri, 22 May 2009 17:05:00 +0000

Warner Bros Entertainment are said to be in the early stages of a Midway acquisition deal, which is reported to be worth $33m. Following the collapse of Midway earlier this year, the Mortal Kombat developer... Read more...

Circuit City will close March 8th

Brad Sams — Fri, 06 Mar 2009 14:55:21 +0000

Circuit City will close all of its remaining stores on March 8th. This will mark the end of a consumer era as a major electronics chain will vanish from the retail space. Regardless... Read more...

Midway Games files for bankruptcy

Andrew Lyle — Fri, 13 Feb 2009 01:05:57 +0000

On Thursday, Midway Games filed for a chapter 11 bankruptcy, which means it will still plans to stay in operations and not liquidate its stock, to ward off creditors. The company is unlikely to... Read more...

Sirius XM prepares for bankruptcy

Andrew Lyle — Wed, 11 Feb 2009 06:27:50 +0000

The recently merged company between Sirius Satellite Radio, and XM Satellite Radio, have merged into Sirius XM, but along with the merge, came a massive debt that neither company was able to cover. The... Read more...

Update: Circuit City liquidates assets, closing 567 stores

Andrew Lyle — Fri, 16 Jan 2009 21:43:09 +0000

Update: Circuit City has posted a statement on their web site here mentioning that all the store chains liquidated and closed between now and March 2009.Circuit City also posted the number of staff it expects... Read more...

Danish software firm goes bankrupt, CEO wanted by Interpol

Michael Stanclift — Tue, 02 Dec 2008 01:39:01 +0000

One of Denmark's largest software firms, IT Factory, has declared bankruptcy after papers were discovered that indicated its CEO, Stein Bagger, had secretly defrauded the company and embezzled an amount equal to nearly $85 million... Read more...

Circuit City files for bankruptcy and what this means to you

Brad Sams — Mon, 10 Nov 2008 15:18:09 +0000

Circuit City, the large electronics chain, has filed for bankruptcy on November 10th. The mega-chain of stores attempted to slash expenditures by closing 155 stores and knocking off 17% of its work force. These drastic... Read more...

Novell wants SCO's bankruptcy protection lifted

Mon, 08 Oct 2007 03:00:40 +0000

Last week Novell filed a motion requesting that the court lift SCO's bankruptcy stay so that Novell can obtain UNIX licensing royalties wrongfully retained by SCO. Novell has also filed a motion requesting that SCO... Read more...

SCO Group files for bankruptcy

Sat, 15 Sep 2007 02:31:36 +0000

The SCO Group Inc., licenser of the Unix operating system, filed for bankruptcy protection Friday, drained by unsuccessfully filing lawsuits claiming its software code was misappropriated by developers of the open-source Linux operating system. The... Read more...

Acclaim files for bankruptcy

Thu, 02 Sep 2004 19:02:17 +0000

Following weeks of intense speculation, it seems that the end is finally nigh for Acclaim, after the publisher/developer filed for Chapter 7 bankruptcy at the US Bankruptcy Court in Central Islip, New York. US news... Read more...

Acclaim officers prep to file bankruptcy docs today

Wed, 01 Sep 2004 04:01:59 +0000

Company will seek to liquidate assets and pay off as many debts as possible; public announcement to follow as early as tomorrow. Reliable sources close to the executive management team of Acclaim... Read more...

Acclaim warns of possible bankruptcy

Marcel Klum — Sat, 03 Jul 2004 09:08:42 +0000

After reporting a $25.4 million loss in its last quarter, the troubled publisher reveals it must find new financing by August. Today, Acclaim released its earnings for the financial year ending March 31,... Read more...

WorldCom files for bankruptcy protection

Mon, 22 Jul 2002 10:45:27 +0000

WorldCom on Sunday filed Chapter 11 bankruptcy protection in the largest U.S. insolvency after the long-distance telephone and data services company buckled under a $3.85 billion accounting scandal and a mountain of "junk-rated" debt. ... Read more...