Bankruptcy

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Business Insider

Discount retail and pharmacy chain Fred's Incorporated is filing for bankruptcy and closing its stores over the next two months.

The Memphis, Tennessee-based company said in a statement Monday that it has filed for chapter 11 bankruptcy and has begun liquidation sales at all of its retail locations.

Marion Federal Prison Inmate Gets More Time

Sep 9, 2019
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File

An inmate serving a 25-year sentence at the Marion federal prison will add 18 more years after being convicted of filing fake bankruptcy petitions against federal prison officials, according to the U.S. Attorney's Office.

A federal inmate at the U.S. Penitentiary in Marion is guilty of filing fictitious involuntary bankruptcy petitions.

Fifty-five year old Kurt F. Johnson was convicted for filing the petitions in January against the prison warden and an officer.

Patriot Coal Corporation says it's still on pace to emerge from bankruptcy by the end of the year now that a judge has given it the go-ahead to send its reorganization plan to creditors for a vote.