Retail giant Sears is in big financial trouble. February 24, 2012- Sears Holdings Corp announced a fourth quarter loss of $2.4 billion late Wednesday. The company also said it was planning a set of initiatives that includes plans to increase liquidity to help it recover from such dreadful sales the last 12 months. Edward Lampert the Chairman said, “The poor 2011 financial results indicate clearly the need for a transformation of the company.” He added, “While some say the results are a trend,... 

Twinkies maker Hostess is bankrupt. January 11, 2012- The maker of the popular spongy sweet dessert treat Twinkies is preparing to file Chapter 11. Hostess Brands, Inc. is expected to file for bankruptcy protection this week. This will mark the second time the Wonder Bread and Twinkies maker has used court restructuring in the last eight years. The company is privately held and headquartered in Irving, Texas. It employs over 19,000 and has a debt load of nearly $860 million. Due to the rising cost...