Friday, April 4, 2008
Addison-based Friedman's Inc., operator of 455 jewelry stores in 23 states, begins a bankruptcy court-ordered liquidation today. Friedman's, which also operates stores under the Crescent brand, filed for bankruptcy in January.

ATA Airlines Goes Under
ATA seeks bankruptcy protection

Low-fare carrier ATA Airlines Inc. said Thursday it has filed for bankruptcy court protection, grounding all flights and stranding thousands of passengers.

Skybus Is Bust
Skybus ceasing operations, plans to file for bankruptcy.

Saturday, Apr. 5, 2008
The celebrated discount airline is ceasing all operations today and plans to file for bankruptcy protection next week, becoming the latest of the nation's airlines to fall because of rising fuel costs and a slowing economy.

Bye Bye Miss American Pie
Vicorp Restaurants Inc. has filed for Chapter 11 bankruptcy

Vicorp Restaurants Inc. has filed for Chapter 11 bankruptcy to restructure its debts and closed 56 Bakers Square restaurants, including nine in Illinois.

The Denver-based company closed Bakers Square restaurants in Lake in the Hills, St. Charles and Oswego on Wednesday. The company’s location in Crystal Lake remains open.

Vicorp spokeswoman Amy Moynihan said 1,700 of the restaurants’ 13,000 employees would be laid off as part of the cost-savings effort.

Nursing Home Company Files Bankruptcy
Marathon Healthcare files for bankruptcy

April 4, 2008

Marathon Healthcare Inc, an East Hartford-based nursing home company that operates six facilities in Connecticut, including in Waterbury, Torrington and Prospect, filed for bankruptcy protection late Thursday.

The filing comes about three months after the state Department of Social Services launched an investigation of the company over concerns that it was struggling to meet its financial obligations, and about a month after a state audit said Marathon's finances should be closely monitored.

Aloha Grounded
Aloha Air halting passenger service

March 31, 2008
Aloha Airlines said Sunday it will halt all passenger service after Monday, signaling the end of an airline that has served Hawaii for more than 60 years.

Aloha, which filed for bankruptcy for Chapter 11 bankruptcy protection on March 20, was a casualty of fierce competition and rising fuel prices. The airline said it will stop taking reservations for flights after Monday.

Three airlines went under in two weeks (a little problem with jet fuel costs on top of falling demand perhaps). And in the last few days there was a Jewelry store liquidation sale involving 455 stores, Bakers Square closed 56 restaurants, and a nursing home filed for bankruptcy. Within the past month, several furniture stores have file bankruptcy including Wickes and CJ Woodmaster. This is just a down payment. Regional banks overleveraged in commercial real estate loans are going to fail. It's just a matter of time.