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bucolic_frolic

(43,887 posts)

4. Wow, that journalist struggles with financial lingo

Reply to BumRushDaShow (Original post)

Sat Mar 2, 2024, 05:30 PM

Mar 2024

"control of the company to lenders" has been known as debtor-in-possession for decades.

It means owners, shareholders if any, have been stripped of their equity. Shares worth zero. That has been the pattern since the 1980s. Even Kmart #1 BK went that route.

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Highlight:

Crafts Retailer Joann Is Planning a Bankruptcy Filing That Would Hand Keys to Lenders [View all] BumRushDaShow Mar 2024 OP

Aw. I never had one near enough to me to stop in to. electric_blue68 Mar 2024 #1

They sell cheap ****! One store near me sold beautiful stuff until they drove demigoddess Mar 2024 #12

That's sad I shopped there at the beginning of the pandemic to get materials to make face masks kimbutgar Mar 2024 #2

Crap Deep State Witch Mar 2024 #3

Wow, that journalist struggles with financial lingo bucolic_frolic Mar 2024 #4

I'm sad PennyC Mar 2024 #5

Michael's sells fabrics (if you have any near you although I guess they sell online too) BumRushDaShow Mar 2024 #9

Well that should make PlutosHeart Mar 2024 #6

Me too... Tikki Mar 2024 #10

My wife is a little sad TxGuitar Mar 2024 #7

Good, those assholes gobbled up every fabric store in town except one Warpy Mar 2024 #8

Yeah, they just seemed to race to the bottom TexasBushwhacker Mar 2024 #14

Not surprised. SarahD Mar 2024 #11

Bummer IcyPeas Mar 2024 #13

Damn. area51 Mar 2024 #15

The one near me is great Mz Pip Mar 2024 #16

AFTER a review by forum hosts LOCKING Omaha Steve Mar 2024 #17