Earlier, Borders planned to close two of the four Louisville stores—one on 4th Street Live and another on South Hurstborne. Now, the Shelbyville Road Plaza store is closing, leaving one remaining Borders in Louisville, on Bardstown Road.
The Borders stores on 4th Street and Hurstbourne Parkway are among 200 stores closing across the country as Borders goes through Chapter 11 bankruptcy.
Kelly Estep manages Carmichael’s in Louisville. She says it’s not clear what effect the closures will have on independent shops.
The orchestra is under court order to honor the musicians’ contract, despite a Chapter 11 filing. The body does not have the money on hand to pay the musicians, and management has reportedly sought to tap the endowments.
Louisville Orchestra musicians must be paid, despite the orchestra management’s Chapter 11 bankruptcy filing. That’s the ruling a federal judge handed down Wednesday. The ruling gives the orchestra’s board of directors limited options for what to do next.
Orchestra management has filed for Chapter 11 protection and is seeking to break its five-year contract with musicians in order to reorganize with a smaller number of players and a reduced schedule. Musicians are asking the court to reject the request for reorganization.
Bankruptcy isn’t a new idea to the Louisville Orchestra—its leaders nearly declared it in 2006. And they wouldn’t have been alone. In recent years, ensembles in San Jose, San Antonio and Honolulu have all gone through bankruptcy proceedings.
The organization is about 500 thousand dollars in debt and will not be able to meet its payroll for musicians beyond December 15th. Further, orchestra CEO Rob Birman says the ensemble must emerge from bankruptcy with a 5.75 million dollar annual budget. Its current budget is 6.9 million dollars.
From WFPL’s Kristin Espeland Chrysler announced Thursday that it wants to close hundreds of U.S. dealerships as part of its bankruptcy plans. The troubled automaker announced plans to close nearly 800 of its Chrysler, Dodge, and Jeep dealerships across the country. Close to 20 dealerships in Kentucky and Indiana could be affected, including several in […]
Many people have likely received gifts cards as holiday presents this week, but consumer advocates caution that with the current economic climate, it’s possible such cards could lose their value if the company that issues them goes bankrupt. Charlie Mattingly with the Better Business Bureau office in Louisville says it all depends on the type […]
A report released this week shows Kentucky and Indiana are among the states with the highest rates of bankruptcy filings per number of people. Indiana ranks fifth, and Kentucky is close behind in seventh. Kentucky sees an average of about five bankruptcy filings per one-thousand residents. Kentucky State Data Center Director Ron Crouch says the […]