Content about Insolvency

June 19, 2013

Report: Orchard Supply given okay to hold liquidator auction

A report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

San Jose, Calif. -- A Wednesday report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

January 4, 2013

Virgin Megastore France to declare itself insolvent

A Friday report by Reuters said that Virgin Megastore’s French division will declare insolvent next week, slated to unveil a plan to file for payments suspension on Jan. 7.

Paris -- A Friday report by Reuters said that Virgin Megastore’s French division will declare insolvent next week, slated to unveil a plan to file for payments suspension on Jan. 7.

The French operation is the latest victim of the slump in CD and DVD sales.

Virgin France is owned by private equity firm Butler Capital Partners, and operates 26 Virgin-branded stores in France.