bankruptcy

Saks Global Holding, which owns legendary American department stores Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman, has filed for bankruptcy in a New York court, according to Logos Press.

Last year, 363 car dealers went bankrupt in Germany – that’s about 100 more than in 2024, and among large dealers with annual sales of more than 10 million euros, the number of bankruptcies almost tripled from 11 to 32, Logos Press reported.

Despite the fact that bankruptcy procedures are regulated by a clear legal framework, their effectiveness is approaching zero, as the bankrupts’ obligations to the budget are not fulfilled, Logos Press reports.

The Boavista soccer club, which became Portuguese champions in 2001, may be declared bankrupt and may be closed, Logos Press reported.

Businessmen are demanding the intervention of the country’s leadership, believing that abuses in insolvency cases are hurting the economy and the European integration process, Logos Press reported.

La Plăcinte, a restaurant chain operating 4 units in Bucharest, declared bankruptcy by its own petition in spring 2025, with a total debt of almost 10 million Romanian lei (38.6 million Moldovan lei) in 2023 (last reported), with no outstanding liabilities to the National Tax Agency (ANAF) – Logos Press reported.

Romanian restaurant chain La Plăcinte, managed by Lumea Gustului SRL, has entered bankruptcy proceedings. The decision to open the procedure was made at the request of the company itself after it accumulated debts worth more than 34 million Romanian lei (more than 130 million Moldovan lei),” Logos Press reported.