debt News

LightSquared plans to lay off 45% of its staff

LightSquared announced on Tuesday that the company plans to cut its workforce by 45% in an effort to cut costs. “This and other cost savings measures will allow LightSquared to continue to navigate the regulatory process …

Blockbuster filing for bankruptcy

Via a press release, Blockbuster has announced a “pre-arranged” bankruptcy in order to “recapitalize” and “substantially reduce its indebtedness.” The Chapter 11 filing will take the embattled company’s debt from roughly $1 billion down to $100 million …

Blockbuster to be delisted from the NYSE

Blockbuster continues its downward spiral as it has been suspended from trading and forced to delist from the NYSE effective next Wednesday. Currently trading at $0.18 per share, Blockbuster failed to win majority …