Top Layoff/Shutdown for the Week Ended May 5, 2012

Top Layoff/Shutdown for the Week Ended May 5, 2012

Deutsche Lufthansa AG will terminate 3,500 administrative jobs, including 2,500 in Germany, in an effort to improve profitability.

Bank of America Corporation intends to eliminate 2,000 jobs from its investment banking, commercial banking and non-U.S. wealth-management units, as part of the company's cost-cutting efforts.

Verizon Wireless will close a location in Bellevue, Wash., and eliminate 814 jobs on June 30, 2012. It will also shut down its customer service call center in Southfield, Mich., and cut 499 jobs on the same date.

Yahoo! Inc. will eliminate a total of 1,020 jobs in Burbank, San Diego, Santa Clara, Santa Monica and Sunnyvale, Calif., effective on June 8, 2012.

Capital One, N.A., will shut down the former HSBC office in Salinas, Calif., by the middle of next year, displacing 850 jobs.

Centerplate will cut 643 jobs in Newark, N.J., effective on June 29, 2012.

American Airlines, Inc., will eliminate 500 jobs from its southwest reservations office in Tucson, Ariz., effective on Aug. 24, 2012.

Christ Hospital will eliminate 433 jobs in Jersey City, N.J., effective on June 30, 2012.

Adams Produce Company, LLC, has cut 400 jobs and closed nine locations in Alabama, Arkansas, Florida, Mississippi and Tennessee, after filing for Chapter 11 protection.

Best Buy Co., Inc., will close its stores in Chicago, Deerfield, Matteson, Mundelein and West Dundee, Ill., and lay off 301 workers on May 12. It will also close a location in Hunt Valley, Md., and terminate 68 jobs on June 15.

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The Plant Prospector is a weekly e-mail service that identifies national, regional, and local plants and businesses in transition through layoffs, closings, and work force reductions.  A reduction in the number of employees is an indication of a current or imminent change in the operations of an enterprise and is invaluable in identifying companies including private firms, small public companies, and subsidiaries of major corporations that are in flux.

The Plant Prospector is an ideal prospecting tool for firms that provide services to businesses in transition, such as temporary employment agencies and outplacement firms, and for companies whose business may be affected by change, such as suppliers, professional firms, and insurance companies.

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CSC Applied Technologies LLC Lay Off 588 jobs in Texas

CSC Applied Technologies LLC will lay off a total of 588 jobs in Killeen, San Angelo and Temple, Texas, effective on July 31, 2011.


As reported in the Plant Prospector on Dec. 6, 2010, CSC Applied Technologies LLC has also laid off 486 employees in Fort Campbell, Ky.


CSC Applied Technologies LLC provides aerospace and aviation services.  The company also offers information and enterprise technology, and management and operations support.  CSC Applied Technologies LLC operates as a subsidiary of Computer Sciences Corp.



Information is provided by the Plant Prospector.  For more information, click on this link http://bankrupt.com/periodicals/pp.html.

The Plant Prospector is a weekly e-mail service that identifies national, regional, and local plants and businesses in transition through layoffs, closings, and work force reductions.  A reduction in the number of employees is an indication of a current or imminent change in the operations of an enterprise and is invaluable in identifying companies including private firms, small public companies, and subsidiaries of major corporations that are in flux.  Plant Prospector is an ideal prospecting tool for firms that provide services to businesses in transition, such as temporary employment agencies and outplacement firms, and for companies whose business may be affected by change, such as suppliers, professional firms, and insurance companies.

Barbetta LLC

Barbetta, LLC, and debtor-affiliate Charles & Barbetta Hester filed for joint Chapter 11 protection on June 6, 2011, with the U.S. Bankruptcy Court for the Eastern District of North Carolina (Wilson), case numbers 11-04370 and 11-04375, respectively, before Judge J. Rich Leonard.

The Debtor listed total assets of $24,889,321 and total liabilities of $12,855,596as of the Petition Date.

Trawick H. Stubbs, Jr., at Stubbs & Perdue, P.A., in New Bern, N.C., represent the Debtor.

Troubled Company Prospector identifies and profiles United States and Canadian companies with assets of $10 million or more showing early signs of strain or difficulty. Designed to support the niche marketing programs of professional firms, the Prospector features companies that meet strictly defined predetermined criteria. Information is compiled weekly and the Prospector is distributed by e-mail to arrive before 9:00 a.m. every Monday. For each business identified, the Prospector provides the trigger event and enough information to assess the prospect and pursue any opportunities. The Troubled Company Prospector is published by Beard Group, Inc. (http://beardgroup.com).

Wingate Airport South, LLC

Wingate Airport South, LLC, filed for Chapter 11 protection on Feb. 11, 2011, with the U.S. Bankruptcy Court for the District of Nevada (Las Vegas), case number 11-11950, before Judge Mike K. Nakagawa.

Wingate Airport South, LLC, is represented by Neil J. Beller, Esq., at Neil J. Beller, Ltd., in Las Vegas, Nev.

When the Company filed for Chapter 11 protection, it listed total assets of $12,000,000 and total liabilities of $9,497,529.

Troubled Company Prospector identifies and profiles United States and Canadian companies with assets of $10 million or more showing early signs of strain or difficulty. Designed to support the niche marketing programs of professional firms, the Prospector features companies that meet strictly defined predetermined criteria. Information is compiled weekly and the Prospector is distributed by e-mail to arrive before 9:00 a.m. every Monday. For each business identified, the Prospector provides the trigger event and enough information to assess the prospect and pursue any opportunities. The Troubled Company Prospector is published by Beard Group, Inc. (http://beardgroup.com).

Angiotech Pharmaceuticals Files For Chapter 15 Bankruptcy

Alvarez & Marsal Canada Inc. filed a Chapter 15 petition on behalf of Angiotech Pharmaceuticals, Inc., and its debtor-affiliates on Jan. 30, 2011, with the U.S. Bankruptcy Court for the District of Delaware, lead case number 11-10269.

Based in Vancouver, Canada, Angiotech Pharmaceuticals, Inc., is a pharmaceutical and medical device company. Angiotech discovers, develops and markets innovative treatment solutions for diseases or complications associated with medical device implants, surgical interventions and acute injury.

At the time of filing, Angiotech Pharmaceuticals, Inc., listed total assets of $326,800,000 and total liabilities of $682,460,000.

Angiotech Pharmaceuticals, Inc., previously announced that its Board of Directors has authorized the Company and certain of its subsidiaries to voluntarily file under the Companies' Creditors Arrangement Act (CCAA) in order to continue implementation of its previously announced recapitalization transaction. The proposed recapitalization transaction is expected to conclude with the elimination of Angiotech's $250 million 7.75% Senior Subordinated Notes and obligations related thereto, thereby substantially improving the Company's liquidity, credit ratios and financial position.

As part of this process, Angiotech has reached an agreement with the holders of a majority of the outstanding Subordinated Notes to amend certain provisions contained in the previously announced Recapitalization Support Agreement dated October 29, 2010, and amended on November 29, 2010, December 15, 2010 and January 11, 2011. The Consenting Noteholders have previously agreed to exchange their Subordinated Notes for common stock in the Company. Qualifying holders of the Subordinated Notes participating in the Recapitalization Transaction would receive their pro rata share of up to 96% of the common stock of Angiotech issued and outstanding following the completion of the Recapitalization Transaction, subject to potential dilution.

For more information on Angiotech Pharmaceuticals and other troubled companies, see http://bankrupt.com/periodicals/tcp.html.