True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday.

In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to its 4,500 independently operated locations during the Chapter 11 process, which includes a $153 million stalking horse bid from rival company Do it Best.

True Value said its stores will remain open, because they are not part of the bankruptcy proceedings.

In bankruptcy court filings, True Value said it faces a significant cash crunch as the housing market stalled and consumers have become far more picky about discretionary purchases like hardware….

New Delhi, Dec 17 (PTI) Appellate tribunal NCLAT on Tuesday dismissed the plea filed by the former promoters of realty firm Spaze Towers to confine the Corporate Insolvency Resolution Process to only one project — Spaze Arrow.

The National Company Law Tribunal (NCLT), on October 21, 2024, directed the initiation of insolvency proceedings against Spaze Towers, admitting a plea filed by its flat owners.

Appealing against the order, the former management approached…

In a statement on X, Ki Young Ju, CEO of CryptoQuant, a leading on-chain analytics firm, provided a stark assessment of MicroStrategy’s financial health in relation to its Bitcoin investments.

Can MicroStrategy Go Bankrupt?

Ju stated, “MicroStrategy only goes bankrupt if an asteroid hits Earth. For 15 years, Bitcoin has never dropped below the cost basis of long-term whales, which currently stands at $30K. MSTR debt is $7B and its BTC holdings are worth $46B. Based on BTC alone, the liq price is $16.5K.” He further simplified his analysis by urging, “I know calculating the liquidation price seems pointless at this point, but man, just try to keep it simple”.

This bullish perspective on MicroStrategy’s solvency comes…

^{Sources: International Country Risk Guide (ICRG); WDI Database (World Bank).}

^{A. Bars show group medians ICRG’s index of Control of Corruption. The sample includes 36 advanced economies and 97 EMDEs, of which 17 are low-income countries (LICs).}

^{B. 2013-23 averages. The quality of transport infrastructure reflects perceptions of the quality of trade and transport-related infrastructure. The logistics performance index reflects perceptions of the overall quality of logistics. The sample includes 34 advanced economies and 100 EMDEs, of which 19 are…}

Millions of dollars of medical debt could be erased within the next several months for some residents in LA County thanks to a new program.

The county’s medical debt relief pilot program launched late Monday afternoon and began the first step in a battle against $2.9 billion of medical debt plaguing low-income Angelenos across the city. Unlike previous debt relief programs, Angelenos are unable to apply directly.  

Instead, the Los Angeles Public Health Department has teamed up with nonprofit Undue Medical Debt to selectively pay off debts through participating hospitals who own it. Selected debts will then be purchased for pennies on the dollar and closed. 

Residents who are selected will begin receiving…

COLOMBO (News 1st); A joint mission from the International Monetary Fund and the World Bank has proposed important reforms to improve Sri Lanka’s public debt management.

The mission, which visited Colombo in early 2023, identified several gaps in the country’s current system.

The recommendations include:

The mission recommended introducing a new public debt management law, which would establish the Debt Management Office and define its mandate. The new public debt management law would define the governance and accountability framework for the public debt management from Parliament, who would delegate to the Ministry of Finance the authority to borrow and issue guarantees on behalf of the state.

The mission considered two options for…

Detroit’s public school district is standing at a critical crossroads, grappling with decades of financial mismanagement and an uncertain path forward. The Detroit Public Schools Community District (DPSCD) is considering legal action against the state of Michigan to ensure the revenue from its 18-mill operating millage can be used to pay off all of its remaining debt—a significant burden the district incurred under state control. At the heart of this fight is the future of Detroit’s schoolchildren and the families that have long borne the brunt of disinvestment and mismanagement.

Superintendent Nikolai Vitti didn’t mince words at Tuesday’s school board meeting. He shared that the Michigan Department…

New funding has been awarded to advise people in Argyll and Bute struggling with Council Tax debt.

The Scottish Government has awarded £400,000 to Citizens Advice Scotland to build

on pilot schemes last year.

And Argyll & Bute is one of six new areas to be included, together with West Lothian, East Lothian, Dumfries & Galloway, Highland and East Renfrewshire.

The pilot bureaux gave targeted advice on Council Tax debt as well as wider support and also worked with councils to support best practice in Council Tax debt collection.

The additional funding was announced by Housing Minister Paul McLennan on a visit to West Lothian Citizen’s Advice Bureau, in Livingston, which will use the funding to provide more adviser hours and…