Oi couldn’t hold on: the company is declared bankrupt, leaving a billion-dollar hole in the Brazilian telecommunications sector. Essential services will remain provisionally under judicial management

Bankruptcy

A court in Rio de Janeiro has declared Oi bankrupt, ending decades of operation for the former telecommunications giant. Some services will remain operational provisionally to guarantee essential public and private contracts. The Rio de Janeiro court decreed this Monday (10) the bankruptcy of the Oi Group, one of the oldest and most emblematic operators…

Sonder To File for Chapter 7 Bankruptcy, Liquidation

Bankruptcy

Short-term rental operator Sonder is going out of business. The company announced on Monday afternoon it would be winding down its operations “immediately.” Furthermore, it plans to file for Chapter 7 liquidation of its business stateside and insolvency proceedings in other countries where it operates. The company said it considered a sale of its business…

Sonder Officially Closes: What Went Wrong?

Bankruptcy

Sonder will “complete a wind-down of operations,” declaring bankruptcy in the U.S. and insolvency overseas, the company said Monday. The word came a day after Marriott ended a licensing agreement that had failed to meet financial obligations. Sonder, which ran apartments and hotels as a hotel-like business, cited “severe financial constraints” stemming from prolonged technical…

“We’d go bankrupt.” Arika developer explains why crossplay support isn’t as simple as players may think

Bankruptcy

Street Fighter EX series developer Arika, founded by Capcom veterans Akira Nishitani and Mihara Ichiro, recently celebrated its 30th anniversary. To commemorate the milestone, the studio announced a major discount on 2018’s Fighting EX Layer, which is available for only $0.99 on Steam and PS4 as of November 1 (originally $39.99).  Ever since the price…