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Bankruptcy

Ana’s Norwegian Bakeri closes 16th Street Mall, Centennial shops

Ana Fanakra sat in her bakery on the 16th Street Mall on what turned out to be its last day in business, Feb. 3, waiting for customers. But not many came, and she decided to close up early. “We had really low sales that day,” she said. “We hadn’t even made $100 yet, which was a very accurate picture of what the last couple of months looked like for us.” The next day, she decided to call it quits, closing both the original location of Ana’s Norwegian Bakeri, which opened in Centennial in June 2021, and the downtown bakery,…

gst on online gaming: Transition to regulated environment painful for online gaming sector: Dream Sports CEO

The transition from an unregulated to a regulated environment has caused a lot of pain for the online gaming industry in India, said Harsh Jain, cofounder and CEO of Dream Sports, which operates online fantasy gaming platform Dream11.He was speaking at a panel discussion at the Mumbai Tech Week on Monday.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science &…

Tattered Cover CEO will be paid $120K despite predecessor’s protests

Tattered Cover’s current CEO can be paid a salary of $120,000 this year, a U.S. Bankruptcy Court judge ruled Monday, despite the objections of its former CEO. Kwame Spearman, who owns a minority stake in the company, led Tattered Cover between early 2021 and early 2023, when he stepped down following an aborted mayoral bid to focus on running for Denver school board, ultimately unsuccessfully. His successor is Brad Dempsey, a bankruptcy attorney who took over soon before the company filed for Chapter 11 in October and has…

Joyride Brewing co-owner accused of theft countersues for $170K

A minority owner of Joyride Brewing in Edgewater says accusations that he misappropriated $1 million from the brewery are frivolous, so he is countersuing it for $170,000. Grant Babb, who was the general manager at Joyride until resigning in October, has been blamed by managing co-owner Dave Bergen of bankrupting the brewery through theft. “This has nothing to do with Joyride’s ability to run a successful or profitable business but rather has everything to do with the improper and unauthorized spending, as well as…

Kroger, Albertsons keep up drumbeat for merger as opponents push back

Nearly 16 months after announcing a $24.6 billion merger, grocery chains Kroger and Albertsons continue to sell their plan to federal and state regulators, workers and customers. Union members are pushing back against the transaction with the public and policymakers. And analysts don’t see the merger as a done deal. A consultant with the financial services company Solomon Partners told reporters during a call last week that the merger between Kroger, which owns and operates King Soopers and City Market stores in Colorado,…

Motional loses a backer, another micromobility bankruptcy and a mobility startup unicorn is born

TechCrunch Mobility is a weekly newsletter dedicated to all things transportation. Sign up here — just click TechCrunch Mobility — to receive the newsletter every weekend in your inbox. Subscribe for free. Welcome back to TechCrunch Mobility – your central hub for news and insights on the future of transportation. This week, read about autonomous vehicle company Motional, why the Tesla board is likely having discussions about Elon Musk’s 2018 $56 billion pay package, a new unicorn focused on student transportation,…

Boutique e-motorcycle startup Cake files for bankruptcy

Electric motorcycle startup Cake filed for bankruptcy February 1, CEO Stefan Ytterborn has confirmed to TechCrunch. The Swedish company was in the middle of a funding round, just prior to the filing, but apparently the withdrawal of an investor was what tipped the company over the edge, according to Swedish media reports. Ytterborn declined to comment on what will happen next. While it’s unclear if Cake filed for bankruptcy protection or insolvency, Ytterborn did tell media outlet Dagens…

Byju’s: Byju’s at war — with investors, bankruptcy

Byju’s has made a combative riposte to some investors’ demand for a change in its management and board, saying the latter have “no voting rights to change (its) chief executive.”It termed as “unfortunate” the call by these shareholders to vote out chief executive Byju Raveendran and his family — holding about 26% in the company — from the board.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitMITMIT

CAKE electric motorcycle company filing for bankruptcy

CAKE, the Swedish electric motorcycle maker known for its eye-catching designs, is reportedly filing for bankruptcy after failing to raise enough funding to keep operations afloat. Swedish media has reported that CAKE’s board is submitting a bankruptcy application. There has been no announcement from the company itself, which as recently as last week was still making press announcements including about further European expansions. CAKE had also just begun delivering its newest electric…

Carvana targets redemption after bankruptcy concerns, restructuring

A Carvana sign and signature vending machine in Tempe, Ariz.Michael Wayland/CNBCPHOENIX – As layoffs and cost cuts roil Wall Street, from retail and shipping to tech and media, embattled online used car sales giant Carvana says its own restructuring is in the rear view.Carvana over the last 18 months aggressively restructured its operations and debt amid bankruptcy concerns to pivot from growth to cost-cutting. They were crucial moves for the company and its largest shareholders, including CEO and Chairman Ernie Garcia…