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Gone But Maybe Not For Good! Crumbs Cupcake Shop Might Be Saved By This Entrepreneur & TV Show Host!

Filed under: Business BlitzFood

crumbs bake shop bankruptcy saved investorCrumbs Bake Shop fans rejoice!

The store was unfortunately forced to close after filing Chapter 11 bankruptcy, but that might not be the case anymore!

The owner of Dippin’ Dots and CNBC’s reality TV show The Profit host, Marcus Lemonis, has decided to invest in the shuttered biz “to get the stores reopened and people rehired.”

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Michael Vick Almost Out Of Bankruptcy Debt

Filed under: FootballMichael Vick

Michael Vick bankruptcyMichael Vick has had a rough road since his 2008 dog fighting arrest, but the Philadelphia Eagle is finally almost living the good life again.

Okay, considering he made over $11 million last year, he already is living the good life again. However, the quarterback is nearly out of all the debt he racked up when he

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Bankrupt Philadelphia Orchestra Announces New Fundraising And Outreach Plans!

Filed under: Music MinuteSad SadEvents

bankrupt-philadelphia-orchestra-announces-new-fundraising-and-outreach-plans

This is a real case of trying to turn lemons into lemonade!

The Philadelphia Orchesta is seeking Chapter 11 bankruptcy, due to financial struggles stemming from fewer donations, shrinking endowment income, pension costs and rent prices.

But in an attempt to keep the group afloat, officials have announced that they'll be kicking off a new campaign called the Listen With Your Heart initiative in order to raise awareness and money, and will be hosting public events for fundraising and outreach in downtown Philly restaurants, hotels, and shops!

Wonderful! We sincerely hope that every music lover and supporter of the arts in the area will do their part!

It is SUCH an important cause!

Fingers crossed for you guys! Hang in there!

[Image via WENN.]

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Sad! Philadelphia Orchestra Files For Bankruptcy!

philadelphia orchestra files for bankruptcy

Hopefully they can figure something out!

The world-famous Philadelphia Orchestra has filed for Chapter 11 bankruptcy after running into tough times.

Here's what Board chairman Richard Worley had to say about the decision:

"We're running low on cash, we're running a deficit, and we have to put ourselves in a position to attract investment funds to help us."

And here's what chairman of the members committee John Koen had to say about it:

"It was a terrible letdown. I think this is a tragic decision for the orchestra."

"A big orchestra has never done this before. It's impossible for the musicians not to feel betrayed by the board of directors … It feels like a vote of no confidence for the future of this orchestra that's been around for 111 years and world famous for 99 of those years at least."

More from principal oboe Richard Woodhams:

"We're in a state of shock, really. I think it's a very, very sad day for culture in the United States and the world."

Many orchestra musicians are upset with this decision, and there is def animosity towards the management, following recent pay cut talks during contract negotiations.

We truly hope this doesn't mark the beginning of the end for the Philadelphia Orchestra.

Very, very sad.

[Image via WENN.]

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AMI Files For Bankruptcy!

Filed under: Icky Icky PooBusiness Blitz

american-media-inc-files-for-chapter-11-bankruptcy

Another one bites the dust!

American Media Inc., which is the parent company of The National Enquirer and Star magazines, as well being in charge of all non-editorial functions involving Playboy magazine, has filed for Chapter 11 bankruptcy while it reorganizes!

According to reports:

“The Boca Raton, Florida-based publisher listed assets of less than $50,000 and debt of as much as $1 billion in its Chapter 11 filing today in U.S. Bankruptcy Court in Manhattan. A separate petition of operating subsidiary American Media Operations Inc.’s lists assets of $100 million to $500 million and debt of more than $1 billion. It terminated a previously proposed debt-exchange offer and announced on Nov. 1 that it would undertake a pre-packaged Chapter 11 filing."

Chairman and chief executive David Pecker said in a statement:

"The company is engaging in this strategy from a position of financial strength and confidence.”

Wow!

Seems like that at least have some sort of plan, though!

Best of luck!

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