Fairchild's largest creditors include the Pension Benefit Guaranty Corporation, which it owes $55 million, and AVI Juchen GmbH, which it owes $33.7 million.
NEW YORK, March 18 | Wed Mar 18, 2009 8:24pm EDT
NEW YORK, March 18 (Reuters) - Fairchild Holding Corp FCHD.PK filed for Chapter 11 bankruptcy protection Wednesday but said it expects to continue to operate as usual without interruption while it reorganizes.
It also owns 49 percent of PoloExpress, a business that runs about 96 retail stores in Switzerland and Germany.
The company listed assets of up to $100 million, and debts of up to $500 million, according to court documents
Fairchild's largest creditors include the Pension Benefit Guaranty Corporation, which it owes $55 million, and AVI Juchen GmbH, which it owes $33.7 million.
NEW YORK, March 18 | Wed Mar 18, 2009 8:24pm EDT
NEW YORK, March 18 (Reuters) - Fairchild Holding Corp FCHD.PK filed for Chapter 11 bankruptcy protection Wednesday but said it expects to continue to operate as usual without interruption while it reorganizes.
It also owns 49 percent of PoloExpress, a business that runs about 96 retail stores in Switzerland and Germany.
The company listed assets of up to $100 million, and debts of up to $500 million, according to court documents
MF Global filed for Chapter 11 bankruptcy protection on Monday.
The brokerage has 2,000 staff worldwide, including 600 in London.
MF Global filed for Chapter 11 bankruptcy protection on Monday.
Chapter 11 postpones a US company's obligations to its creditors, giving it time to reorganise its debts or sell parts of the business.
"CME has determined MF Global is not in compliance with Commodity Futures Trading Commission [CFTC] and CME customer segregation requirements," CME chief executive Craig Donohue said.
"While we are unable to determine the precise scope of the firm's violation at this time, we are investigating the circumstances of the firm's failure."