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More Details on Gourmet's Collapse
Yesterday morning began with breaking news that, after 68 years of publication, Gourmet was going out of print, and now we have more details on the magazine's collapse. Although the glossy will cease to exist, the Gourmet brand will live on through book publishing and TV programs. Staffers at the magazine were first unaware, then teary-eyed and harried, as they were allegedly given 48 hours to leave.
Gourmet Magazine to Fold
This morning, Condé Nast announced its oldest food title, Gourmet magazine, is folding. There were telltale signs of trouble: the glossy, which will print its last issue in November, just underwent budget cuts. As early as the onset of 2009, rumors were already flying that Gourmet would not see the end of the year.
What Do You Know About Reader's Digest?
Heavy debt, an advertising slump, and decreased circulation pushed the publisher of Reader's Digest to file for Chapter 11 bankruptcy protection yesterday. Reader's Digest is considered an iconic general interest publication, so let's see how much you know about the classic magazine and its publisher, the Reader's Digest Association. Take the quiz!
Smith and Hawken Closing Its Doors
After 30 years in the garden business, Smith and Hawken is closing its doors. The website, catalog, and call center have all shut down, and you can expect sales storewide starting today. Smith and Hawken gift cards will be honored at the stores during the closure process.
Filene's Basement Files For Bankruptcy
Another retailer can be added to the growing list of recession victims. Filene's Basement filed for Chapter 11 bankruptcy protection today, citing slow sales and tough competition from other discount stores like T.J. Maxx.
Most Restaurants on Kitchen Nightmares Are Now Closed
Ever wonder what happens to a restaurant after Gordon Ramsay whips the staff into shape and redesigns the dining room on Fox's Kitchen Nightmares? Well according to Scottish newspaper, the Herald, more than half of the eateries have closed or been sold. Of the 20 restaurants that were featured on the US version of KN, 10 are now closed; 12 out of the 22 UK establishments faced the same grim fate.
Would You Be Bummed If Blockbuster Went Bankrupt?
Rumor has it that Blockbuster is looking into bankruptcy as a possibility, which doesn't come as a huge surprise given the many other movie-renting options out there (not to mention the withering state of consumer confidence). Still, the blue and gold movie house has been around for some time. Would you miss it?
Maxed Out: Third Bankruptcy Is Not a Charm
This episode of Maxed Out is about Jessica and Greg, a couple who just can't grasp financial responsibility. They declared bankruptcy separately before they were married, and as parents of one-year old twins and a six-year old they are on the brink of declaring bankruptcy together. Their $55,000 of debt is overwhelming their relationship and dissolving their dreams of home ownership, and even though they earn a combined annual salary of $120,000, they are always one payment behind on all of their bills.
Company Behind Salmonella Scare Files For Bankruptcy
Not surprisingly, the Virginia based Peanut Corp. of America filed for bankruptcy last Friday. The company, which has been accused of producing the salmonella tainted peanut products, filed Chapter 7 to liquidate their assets.
Is Gordon Ramsay Going Bankrupt?
Although the fifth season of Hell's Kitchen debuts this Thursday on Fox, Gordon Ramsay's empire may be crumbling. According to the New York Post, the celebrity chef's company is "finding life pretty tough at the moment."
In the past couple of months the celebrity chef has faced many challenges.
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