All articles tagged with #liquidation
Edge of Eternity and Hover creator Midgar Studio is being liquidated following a court order after unsuccessful efforts to secure a buyer. Founder Jérémy Zeler-Maury posted a tribute to the team and partners, noting the 18-year journey and thanking staff, with the studio reportedly employing between 11 and 50 people.
Schwebel Baking Company, founded in Campbell in 1906 and serving Ohio, Pennsylvania and New York, will wind down and liquidate this summer due to aging facilities, equipment and declining demand, affecting about 364 Youngstown-area employees.
Schwebel Baking Co., a Youngstown, Ohio-based bakery founded in 1906, announced it will wind down operations and liquidate its business, affecting the Youngstown and Hebron bakeries, retail stores, and distribution centers. Operations will continue through the Fourth of July weekend before tapering off through the summer, after the company was unable to secure a viable buyer or investment amid aging facilities, labor obligations, and reduced demand. The board and leadership expressed gratitude to employees, customers, suppliers, and communities for Schwebel’s 120-year legacy.
Spirit Airlines is reportedly preparing to cease operations after running out of cash and failing to secure a government bailout, with a board meeting underway and an overnight shutdown possible; if liquidation occurs, customers may face refunds while rivals offer support, as high jet-fuel prices pressure the sector.
The STJV union accuses Nacon’s management of a premeditated liquidation of Spiders—the GreedFall 2 studio—costing 71 jobs and implying workers’ livelihoods are being deliberately sacrificed; it says Spiders was kept as an internal shell with no royalties or future contracts, and urges a boycott of Nacon while awaiting a comment from the publisher.
Spiders, the Paris-based studio behind GreedFall and Steelrising, is being liquidated and will close after 18 years in operation. The planned downloadable content for GreedFall: The Dying World will still release via publisher Nacon, but after that the company will cease operations and will no longer be able to respond to inquiries.
Spiders, the Paris-based studio behind GreedFall and Steelrising and owned by Nacon, confirms it is being liquidated and will cease operations after releasing the GreedFall: The Dying World DLC, with staff told to update CVs as the publisher restructures.
Spirit Airlines could liquidate as early as this week after a second bankruptcy in under a year and a spike in fuel costs, complicating its previously stated plan to exit bankruptcy this spring. The carrier has faced added headwinds from engine recalls and a blocked JetBlue acquisition, while unions have conceded to help survival as fuel remains the airline’s biggest expense.
Bitcoin hovered around the mid-$70,000s after the October 10 liquidation crash, its lowest since the 2024 election, and is down about 4% in 24 hours with an over 40% drop from the Oct 6 all-time high. Analysts say further downside could come if BTC breaks below $70,000, potentially targeting the $55,700–$58,200 zone as liquidity thins and moving averages come into play. The market remains pressured by heavy liquidations (about $758 million in 24 hours, nearly $7 billion in the last week) and ETF outflows, signaling a broader risk-off sentiment amid macro uncertainty.
Sonder announced plans to file for bankruptcy and initiate a court-supervised liquidation of its U.S. operations after failing to improve its financial situation following Marriott's termination of a licensing agreement, which led to hotel guests being asked to vacate on short notice.
Cryptocurrencies, including Bitcoin, continue to decline following a significant liquidation event in October, with institutional demand dropping below mining rates and market sentiment remaining cautious as investors await signs of a bottom, leading to a broader risk-off attitude and ongoing price struggles.
Verijet, a Florida-based private jet charter airline, filed for Chapter 7 bankruptcy amid financial difficulties and the death of its founder, leading to the liquidation of its assets and cancellation of flights, adding to a series of airline shutdowns in 2025.
Cryptocurrencies experienced a $300 billion decline this week due to a wave of leveraged bets unwinding, with Bitcoin and Ether suffering significant drops amid broader market sentiment weakening and reduced corporate buying, marking the sector's most severe selloff in months.
Opa Restaurant Group, a once rapidly expanding Greek/Mediterranean fast-casual chain, has filed for Chapter 7 bankruptcy, leading to the liquidation of its assets and the closure of all remaining locations, marking a significant decline after years of growth.
A $1.5 billion crypto market selloff highlights ongoing fragility and increased volatility, with traders bracing for further swings amid large options expiries and high leverage, especially in Ether, while Bitcoin remains relatively more stable.