logo
Silver Airways unexpectedly cancels all flights out of Florida airport: report

Silver Airways unexpectedly cancels all flights out of Florida airport: report

Yahoo03-03-2025
ORLANDO, Fla. (WFLA) — Passengers flying out of Orlando International Airport (MCO) over the weekend were left stranded after Silver Airways suddenly canceled all of its flights, according to a report from NBC affiliate WESH.
A statement obtained from MCO's Senior Vice President of Public Affairs and Community Relations Angela Starke read:
'We received notification yesterday afternoon that, effective immediately, all departing and arriving flights with Silver Airlines are canceled.'
It is unclear what was behind the sudden cancellations.
Cruise ship with 158 norovirus patients docks in Florida
The unexpected move comes just two months after the airline issued an open letter to its customers, announcing they voluntarily filed for Chapter 11 bankruptcy.
Silver Airways affirmed to its customers that all flight tickets remain valid and that they remain under normal operations.
'We anticipate completing this process by the first quarter of 2025, emerging stronger and ready to continue serving you with the same dedication we've upheld for over 13 years,' they said in the release on Dec. 30.
The airline added that the decision will allow them to undergo a financial restructuring they hope will strengthen the company and benefit its passengers.
WFLA.com has reached out to Silver Airways for comment.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bankrupt Mexican restaurant chain reopens locations after mass closures
Bankrupt Mexican restaurant chain reopens locations after mass closures

Miami Herald

timean hour ago

  • Miami Herald

Bankrupt Mexican restaurant chain reopens locations after mass closures

In an era marked by restaurant bankruptcies and mass closures, reopenings have become an increasingly rare bright spot in dark financial times. This is especially true in the food service industry, which continues to deal with economic uncertainty, rising costs, and shifting consumer behavior, all contributing to one of the most turbulent periods in recent years. Don't miss the move: Subscribe to TheStreet's free daily newsletter In 2024 alone, at least 10 major restaurant chains filed for Chapter 11 bankruptcy, including iconic American classics like Red Lobster, TGI Fridays, and Buca di Beppo, highlighting the financial pressures even legacy brands now face. Related: Struggling restaurant chain makes major change to win back customers The U.S. Bureau of Labor Statistics reports that around 17% of new restaurants close within their first year. However, with established chains now joining the list of ongoing closures, the question arises of whether the risk of failure increases the longer a restaurant brand stays in business. Image Source: Shutterstock Jack in the Box (JACK) acquired Del Taco in 2022 for approximately $585 million to expand its portfolio and footprint. But only three years later, the company decided to free itself from the Mexican fast-food brand. In April, Jack in the Box unveiled its "Jack on Track" initiative, a strategic plan to close up to 200 underperforming restaurants and sell its Del Taco brand and associated real estate. This move aimed to reduce debt and refocus on core operations following disappointing financial results. At the time of the announcement, Jack in the Box's same-store sales dropped 4.4% during the second quarter of 2025, with Del Taco's down 3.6%. More Food News: Starbucks' huge new rival opens first US storesPopular chicken chain is begging customers to give it another chance As if Del Taco didn't already have enough problems, a major brand franchisee, Matador Restaurant Group, filed for Chapter 11 bankruptcy protection on July 15. The group operates 22 Del Taco locations across Georgia and Alabama. This comes less than a year after New Port Ventures, a franchisee operating around 18 Del Taco restaurants in Colorado, filed for Chapter 11 bankruptcy last October, leading to the closure of all its locations in February. Aiming for a comeback, Del Taco is reopening 17 company-owned restaurants in Colorado, in a phased rollout that began June 21 and will continue over the coming months. These locations were repurchased from New Port Ventures during its bankruptcy process. As of late July, five locations have already fully reopened, with 12 more scheduled. However, one restaurant in Aurora will remain permanently closed and is not part of this plan. Colorado is a key market for Del Taco, especially as its parent company, Jack in the Box, continues to explore a potential sale of the brand. By shifting these locations back under corporate ownership, Del Taco will ensure that the service and food quality maintain high standards and consistency. Related: Bankrupt restaurant chain bets big on classics, TV tie-in Despite the first few restaurants reopening fairly recently, Del Taco says it has already seen positive results. "We're thrilled to reestablish our presence in the Denver and Colorado Springs communities that have supported Del Taco for more than two decades," said Del Taco Interim President Sarah McAloon in a statement. "We're already seeing an incredible response at the locations that have reopened." Since its founding in 1964, Del Taco has grown to nearly 600 restaurants in 17 states, serving Mexican-inspired fast food. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

Chapter 11 bankruptcy firm to pay $1.9 billion to creditors
Chapter 11 bankruptcy firm to pay $1.9 billion to creditors

Yahoo

timean hour ago

  • Yahoo

Chapter 11 bankruptcy firm to pay $1.9 billion to creditors

Chapter 11 bankruptcy firm to pay $1.9 billion to creditors originally appeared on TheStreet. FTX, the crypto exchange that went bankrupt in November 2022, announced on July 23 that the record date for claim holders is Aug. 15 and it will begin the next round of creditor claim distribution on Sep. 30. The exchange also said that the bankruptcy court has lowered the disputed claims reserve from $6.5 billion to $4.3 billion — a reduction of $1.9 billion. It means these funds, not considered disputed claims anymore, can be distributed among claim holders in the upcoming batch. FTX is required to distribute $14.7 billion to $16.5 billion among the claimants out of which it has already paid $6.2 billion in two previous batches: $1.2 billion in February and $5 billion in May. The third batch of distribution is expected to be overseen by BitGo, Kraken, and Payoneer. Notably, the FTX Recovery Trust requested the court in early July to dispute claims from 49 restricted jurisdictions, including China, Russia, North Korea, and Saudi Arabia, on the ground that crypto trading is allegedly illegal in these countries. The move drew intense criticism from former FTX users residing in these jurisdictions. Founded in 2019, FTX was the third-largest cryptocurrency exchange by volume at its peak in July 2021. However, as depositors got a whiff of potential fraud at the exchange, they began withdrawing their funds. The exchange filed for Chapter 11 bankruptcy in November 2022. The court found the firm's founder Sam Bankman-Fried guilty of seven counts of fraud and sentenced him to 25 years in prison and penalized him $11 billion in forfeiture. Chapter 11 bankruptcy firm to pay $1.9 billion to creditors first appeared on TheStreet on Jul 24, 2025 This story was originally reported by TheStreet on Jul 24, 2025, where it first appeared. Sign in to access your portfolio

Children's Shoe Retailer Amiga Shoes In Liquidation Mode
Children's Shoe Retailer Amiga Shoes In Liquidation Mode

Yahoo

time3 hours ago

  • Yahoo

Children's Shoe Retailer Amiga Shoes In Liquidation Mode

A shoe retailer in Industry, Calif., has called it quits. Amiga Shoes Factory Inc. at 17766 Rowland St. in the Rowland Heights neighborhood filed a Chapter 7 liquidation petition in a California bankruptcy court in Los Angeles on Wednesday. More from WWD Former Amazon Employee Arrested for Allegedly Stealing 2,000 Pairs of Shoes From Timberland, New Balance + More RH Opens Second Design Gallery in Canada EXCLUSIVE: Nanushka Pops Up in Paris, Eyes Experiential Retail Expansion Not much is known about Amiga Shoes, although a MapQuest listing that was based on a now-defunct company website said Amiga offered a wide range of children's footwear for infants, kids and teens. The listing said the collection had included flats, school shoes, dress footwear, sandals and boots. The petition listed one unsecured creditor, a service center connected to a small business administration loan in the amount of $150,000. The petition, which listed Woon Hung Leung as the owner, indicates that the SBA loan was its only debt. Total assets were $8,635, comprised of $7,438 in a checking account and $1,197 in a savings account. The debtor owes its legal counsel $4,500 for the bankruptcy oversight, and said that after any administrative expenses are paid, there won't be anything left over for its unsecured creditor. The petition also said the company didn't own any real estate nor did it have any lease interests. It wasn't immediately clear when the business shut down, but at the time of the Chapter 7 filing, Amiga Shoes also said it no longer had any inventory in its possession. There wasn't much detail about the business in the filing. But it did state that the business had gross revenue before deductions and exclusions of $1.4 million for the year ended Feb. 29, 2024. For the year ended Feb. 28, 2025, gross revenue was listed at $454,781. And for the five months from March 1, 2025 to the July 23, 2025 Chapter 7 filing date, the petition said the operation generated zero revenue. Amiga is not the only shoe operation that has seen financial distress. In March, sneaker reseller Soleply filed for Chapter 11 bankruptcy court protection. The company said high-interest, short-term debt to fund store expansions had resulted in a cycle of inventory shortages and cash flow instability. And overseas, Swedish footwear brand Eytys that's known for its chunky shoes filed for bankruptcy at the start of 2025 in a Stockholm District Court. There's concern across retail and apparel that U.S. President Donald Trump's global reciprocal tariffs will add new pressures to the sector, particularly for retailers and brands that sell primarily to lower-income consumers. The U.S. operation of tween accessories chain Claire's, which also sells socks and slippers, is said to be under financial distress from a high debt load and added costs from higher tariffs. The business relies heavily on a supply chain based in China. Word surfaced earlier this month that one option is for the business to be sold via a bankruptcy process. The retailer previously exited bankruptcy in 2018, a process that allowed it to shed $1.9 billion in debt. Creditsafe's head of brand and company spokesperson Ragini Bhalla said the company faces 'fierce competition from ultra-low cost online retailers like Shein and Temu.' She also said the retailer's payment history shows clear signs of cash-flow strain, noting that Claire's growing late payments are getting worse. Bhalla said the percentage of outstanding bills up to 30 days past due has 'increased significantly' from 9.5 percent in August 2024 to 12.7 percent in September 2024 and then more than doubling to 26.4 percent in October 2024. By May and June of this year, upwards of 50 percent to 67 percent of its outstanding bills were already in the 1-30 days past due category, she said. And it isn't just the low end that's facing pressures. Handmade boot specialist Freebird earlier this year shuttered 14 store locations. The Colorado-based firm, whose boots are priced between $200 and $400 a pair, is looking for a buyer and could close more stores. Freebird is not in bankruptcy proceedings, but it has been operating under a court-appointed receiver since May following a lawsuit by KeyBank after it failed to repay a $15.4 million debt obligation. The company reportedly owes $6 million in unpaid invoices to a Mexican boot manufacturer that supplied 85 percent of its inventory, a company that has since shut-down operations. In addition, department store retailer Kohl's shut 27 retail doors earlier this year. The downsizing will leave fewer shoe shopping options for consumers in the areas where the stores have closed. Those doors are primarily located in California, New Jersey, Pennsylvania and Texas, and in other states. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store