Sex Harassment Suits Add to Cost for Yoga ChainBikram Inc. and affiliates Bikram Choudhury Yoga Inc. and Bikram’s Yoga College of India LP sought protection from up to $50 million in liabilities in the Central District of California – Los Angeles Division. The chapter 11 petition was signed by CEO A. John A. Bryan Jr. Among unsecured claims, the operator of a chain of yoga studios lists more than $16 million in disputed legal judgments following a string of sexual-misconduct allegations against its founder, Bikram Choudhury, who has denied any wrongdoing in connection with the claims, according to news reports.
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Competitive Retail Environment Leads Teen Fashion Stores Into BankruptcyStyles for Less sought protection from up to $50 million in liabilities in the Central District of California. The chapter 11 petition was signed by CFO August DeAngelo, who blamed the debtor’s bankruptcy on increased industry discounting, online penetration and shifts in consumer spending away from fast fashion and toward services and experiences. “The result has placed severe pressure on the Debtor’s cash flow, depriving the Debtor of the ability to timely pay obligations to its Landlords and vendors, resulting in lawsuits and numerous threats from creditors,” Mr. DeAngelo wrote in his declaration to the Court.
Demise of This Colorado Bank Is Its Own LoansColorado National Bancorp sought protection from up to $10 million in liabilities, of which $1,078,829.93 is owed to Compass Island Investment Opportunities for a loan. Filed in the District of Colorado, the chapter 11 petition was signed by CEO Scott D. Jackson and lists 20 creditors who made loans to the debtor.
Bank Lawsuit Sinks Louisiana VesselM/V Jack Fitz LLC sought protection from up to $10 million in liabilities, of which $1,532,659.79 is owed to United Community Bank, which sued the debtor on Nov. 6. The chapter 11 petition was filed in the Eastern District of Louisiana and signed by authorized member Josh Jambon, a businessman who was sentenced to 25 weeks in jail in 2014 for attacking FEMA workers, according to media reports.