New government data shows American consumer debt continuing to grow. The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit Wednesday (Nov. 13), showing a slight uptick in total household debt during the third quarter, up 0.8%...
Franchise Group, owner of retailers like Vitamin Shoppe, started off this week by declaring bankruptcy. But as the company was collapsing, it paid insiders $5.75 million in bonuses to keep them in their jobs, Bloomberg News reported Thursday (Nov. 7). The report, which cited court...
Franchise Group (FRG), owner of Vitamin Shoppe and Pet Supplies Plus, is filing for bankruptcy. The company announced a restructuring plan Sunday (Nov. 3), as well as plans to shutter one of its holdings, furniture chain American Freight. “Today’s announcement to de-lever our balance sheet...
Cryptocurrency and Web3 technologies are supposed to represent the future of finance, offering a decentralized and borderless world where money, data and assets flow freely. Despite progress and setbacks, however, the advance guard of a hypothetical future-fit financial sector is fighting the same historical battles...
June 21, 2024
The relationships between FinTechs, banks and neobanks has been placed under a harsh spotlight with the recent revelations around the Synapse bankruptcy. The reaction from the industry so far has focused on the Synapse case as an isolated incident rather than a systemic issue, but it has also been the occasion for a reconsideration of […]
June 17, 2024
The Federal Reserve Board issued a “cease and desist” order against Evolve Bancorp and its subsidiary, Evolve Bank & Trust, that may have a chilling effect on bank-FinTech partnerships. In addition...
June 10, 2024
The drama surrounding the Synapse Financial bankruptcy continued Friday (June 7) with an afternoon court hearing in California’s Central District Bankruptcy Court, although the case appeared no closer to a...
May 14, 2024
Consumers are increasingly buying clothing from third-party digital marketplaces, forcing more retailers to close shop. Most recently, Ted Baker’s North American business announced Friday (May 10) that amid bankruptcy proceedings in the United...
November 13, 2024
Automotive finance company and digital services platform Vroom filed for Chapter 11 bankruptcy Wednesday (Nov. 13), saying in a filing with the Securities and Exchange Commission (SEC) that it plans to operate its business as a “debtor-in-possession” under the jurisdiction of the bankruptcy court. None of its subsidiaries are expected to commence Chapter 11 proceedings, Vroom said in the […]
November 13, 2024
New government data shows American consumer debt continuing to grow. The Federal Reserve Bank of New York’s Center for Microeconomic Data released its Quarterly Report on Household Debt and Credit Wednesday (Nov....
November 07, 2024
Franchise Group, owner of retailers like Vitamin Shoppe, started off this week by declaring bankruptcy. But as the company was collapsing, it paid insiders $5.75 million in bonuses to keep...
November 03, 2024
Franchise Group (FRG), owner of Vitamin Shoppe and Pet Supplies Plus, is filing for bankruptcy. The company announced a restructuring plan Sunday (Nov. 3), as well as plans to shutter...
