Articles > Popular publications > The Boston Globe (Boston, MA) news wires > November 2009

Article: Advanta seeks bankruptcy protection

Article from:
The Boston Globe (Boston, MA)
Article date:
November 10, 2009
Author:
Copyright

NEW YORK - Small business credit card lender Advanta Corp. has filed for Chapter 11 bankruptcy protection.

Its shares plunged 77 percent yesterday, to 7 cents.

The filing came five months after the company said it was shutting down its credit card lending business in a last-ditch effort to preserve cash as loan losses mounted.

The Spring House, Pa., company said it has nearly $100 million in cash on hand, but that would not be enough to meet its debt obligations. It listed assets of $363 million and debt ...

Read all of this article with a FREE trial

Related newspaper, magazine, and journal articles:

Article: The Bancorp Bank Signs Agreement with Advanta Bank ...
Business Wire;  January 30, 2006 ;     700+ words ... ... services for business credit card customers of Advanta Bank Corp. ("Advanta ... Advanta's business credit card customers will have the ... expected to be available to Advanta Bank Corp.'s business credit card customers in early 2006 ...

Article: Advanta Bank Corp. One of Top Community Banks in ...
Business Wire;  July 18, 2000 ;     700+ words ... ... 2000 survey date. Advanta Bank Corp. reported net ... over the prior year. Advanta Bank Corp.'s primary product ... Advanta's business credit card which offers innovative ... servicing business through Advanta Bank Corp. Advanta is recognized ...

Article: BRIEFS.(On Track Innovations Ltd., First Data Corp. extends ...
Cardline;  December 22, 2006 ;     700+ words ... ... the company began in 1990. ... First Data Corp. renewed its agreement to process small-business credit card transactions for Advanta Bank Corp. ... Palamon Capital Partners completed its $393.2 million purchase of Retail Decision plc ...

Article: First Data Renews Advanta Bank Processing Pact
Wireless News;  December 20, 2006 ;     342 words ... ... 2006 First Data Renews Advanta Bank Processing Pact WIRELESS ... First Data Renews Advanta Bank Processing Pact (C ... through its subsidiary Advanta Bank, has renewed its agreement ... company for small business credit card processing services ...

Article: Advanta Bank May Fall Into Receivership.(News)
High Yield Report;  November 16, 2009 ;     700+ words ... ... by the FDIC. Advanta Bank Corp. "has ... and over time Advanta Bank Corp. may be ... Advanta Corp., a credit-card company, has ... release. In May, Advanta Bank Corp., which ... froze customer credit-card accounts. It ...

Article: First Data Renews Advanta Bank Processing ...
Business Wire;  December 20, 2006 ;     700+ words ... ... through its wholly owned subsidiary Advanta Bank Corp., has renewed its agreement ... the company for small business credit card processing services. Under the ... s largest issuers (through Advanta Bank Corp.) of business credit cards ...

Article: FDIC ANNOUNCES SETTLEMENT WITH ADVANTA BANK ...
US Fed News Service, Including US State News;  July 2, 2009 ;     698 words ... ... Insurance Corporation (FDIC) announced a settlement with Advanta Bank Corporation, Draper, Utah (Advanta), for deceptive and ... percentage of cash back on certain purchases by business credit card accountholders. Due to the tiered structure of the cash ...

Article: Advanta Bank Corp. Prices $386 Million Equipment ...
Business Wire;  March 20, 2000 ;     700+ words ... ... that its wholly-owned subsidiary, Advanta Bank Corp., has priced a $386 million ... communication equipment originated through Advanta Bank Corp. The issue includes four classes ... notes are ERISA-eligible investments. Advanta Bank Corp. will service this portfolio ...

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!

Find articles, research, and archives