Liquidation

The Daily Docket: Detroit Makes Its Case

09/03/14

After more than a year in bankruptcy court, the city asked a federal judge Tuesday for the final blessing of its plan to slash $7 billion in debt and get on the road to solvency, The Wall Street Journal reports.

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Syracuse Rug Seller to Shut Down—For Real This Time

09/02/14

Jacobsen Rugs in downtown Syracuse, N.Y., which has been selling oriental rugs since before the Depression, filed for bankruptcy and plans sell off the more than 2,000 rugs it has left before shutting down for good.

And this time, they mean it.

In 2011, the store got a wrist-slap from then-Attorney General Eric Schneiderman for holding a going-out-of-business sale that lasted too long.

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