The automaker lost its bid for review of a lower court ruling that exposes it to liability for injuries resulting from an ignition-switch defect.
The bankruptcy process will be smoother if compensation programs are rethought early on.
The company's auditor refuses to certify its Q3 results in “a highly unusual signal of doubt about [its] ability to recover its financial health."
The struggling discount footwear chain joins nine other major retailers that filed Chapter 11 in the first three months of this year.
Cost overruns at Westinghouse Electric power plants have contributed to Toshiba's financial woes, forcing a $6.3 billion writedown.
The retailer warns its history of losses indicates "substantial doubt exists related to the company's ability to continue as a going concern.”
The electronics retailer blamed its filing on the "surprisingly poor performance of mobility sales" despite its co-branded stores with Sprint.
After pushing a turnaround, the retailer decides a restructuring through Chapter 11 is "the best path forward to ensure long-term success."
The company was unable to find enough financing to go into production and is now seeking a buyer for its technology.
Information governance isn’t top of mind during most restructuring planning, but ignoring it can have devastating financial consequences.