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Here are some of the latest bankruptcy stories our reporters have been covering Thursday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
Goody's cancels auction
Bankrupt Goody's Family Clothing Inc. has canceled the auction for many of its leases after it failed to attract enough bids. The retailer, which sells clothing, shoes and accessories for men, women and children, now wants to reject 66 of its leases because of the lack of bids. The request to reject the leases will be considered at a hearing set for Aug. 19. - Jamie Mason Mervyn's faces tough reorg At least one retail analyst believes Mervyn's Holding LLC has less than a 50% chance of reorganizing, and that the retailer may have waited too long to file for bankruptcy. Mervyn's, which sells apparel and housewares, filed for Chapter 11 protection on Tuesday, with plans to reorganize, but given the poor shape of the retail environment, that goal may be more difficult than it sounds. - Jamie Mason Judge clears Ritchie funds' plan The plan for two liquidating investment funds of collapsed hedge fund Ritchie Capital Management Ltd. was approved Wednesday, but recoveries rely on future litigation.The two bankrupt Ritchie funds, Ritchie Risk-Linked Strategies Trading (Ireland) I and Ritchie Risk-Linked Strategies Trading (Ireland) II, will now send their plan to creditors for their approval. A confirmation hearing on the first modified joint plan is set for Sept. 11. - Terry Brennan Categories Deal Video
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