Streetbeat News

Bankruptcy

JOAN

PRTYQ

Several major retailers, including Party City and Joann, are closing many of their store locations and holding significant sales as part of the process.

Portfolio Pulse from

March 15, 2025 | 1:00 pm

JOAN

Joann, a major fabric retailer, is closing stores and has stopped accepting gift cards, causing customer dissatisfaction. This highlights the risk of holding gift cards from retailers facing financial difficulties.

Portfolio Pulse from

March 13, 2025 | 10:30 pm

LUV

SAVE

Spirit Airlines has successfully exited bankruptcy, achieving its goal of emerging in the first quarter. The airline is set to compete in some of Southwest Airlines' markets.

Portfolio Pulse from

March 13, 2025 | 5:30 pm

MNKKQ

Mallinckrodt Pharmaceuticals and Endo Inc have announced a merger agreement to form a larger pharmaceuticals company valued at $6.7 billion. Both companies have faced financial challenges due to opioid-related lawsuits and bankruptcy filings.

Portfolio Pulse from

March 13, 2025 | 2:30 pm

IRBT

iRobot's stock plummeted by 35% following a 'going concern' warning, casting doubt on its ability to continue operations over the next year.

Portfolio Pulse from

March 12, 2025 | 10:00 pm

IRBT

iRobot, the maker of Roomba, has warned it may go out of business, causing its shares to plummet. The company, once valued at $3.56 billion in 2021 due to pandemic demand, is now worth less than $200 million.

Portfolio Pulse from

March 12, 2025 | 8:30 pm

IRBT

Shares of iRobot fell over 30% as the company expressed concerns about its ability to continue operations due to increasing debt, slow revenue growth, and competition from Chinese robotic vacuum makers.

Portfolio Pulse from

March 12, 2025 | 7:45 pm

HGBL

Heritage Global Partners, a subsidiary of Heritage Global Inc., will conduct an online auction of Electriq Power's assets following a U.S. Bankruptcy Court appointment. This auction offers opportunities for businesses in the alternative energy sector to acquire equipment.

Portfolio Pulse from

March 12, 2025 | 6:15 pm

IRBT

iRobot, the maker of Roomba, has expressed 'substantial doubt' about its ability to continue as a going concern in its latest earnings release.

Portfolio Pulse from

March 12, 2025 | 4:00 pm

IRBT

iRobot, the maker of Roomba, has issued a warning about its financial stability, stating there is 'substantial doubt' about its ability to continue operations. This announcement has led to a significant drop in its stock price by 36%.

Portfolio Pulse from

March 12, 2025 | 12:45 pm