A selection of cupcakes is seen at Crumbs Bake Shop & David Burke NYC event to launch lunch menu at David Burke Treehouse Bar on June 6, 2013 in New York City.  (Photo by Brian Ach/Getty Images  for Crumbs Bake Shop)

Crumbs Bake Shops Close, Company Could Seek Bankruptcy

Gourmet cupcake shop Crumbs Bake Shop has shut down all its stores, including two in Chicago, in the wake of multimillion dollar losses.


The worksite for the Chicago Spire skyscraper sits abandoned (Scott Olson/Getty Images)

Developer Of Spire Seeking To Revive 2,000-Foot Skyscraper Project

An ambitious plan to build a 2,000-foot skyscraper in Streeterville could be getting new life, after the developer of the Chicago Spire reportedly found an investor to help it emerge from bankruptcy.


A Divvy bike station in downtown Chicago. (Credit: CBS)

Company That Supplies Chicago’s Bike-Sharing Program Files For Bankruptcy: Report

The news casts a shadow on the city of Chicago’s plans to widely expand Divvy here, the Sun-Times reports.


Illinois State Capitol

Conservative Watch Dog: Pensions Could Bankrupt Illinois By 2015

A conservative watch dog group is warning of dark days ahead for the entire state unless Illinois mends it’s financial ways, and soon


A tow truck in action. (CBS)

Feds: Drivers Faked Bankruptcy To Avoid Auto Impound Fees

In a city well-practiced in the way of scams, this is a new one.


File Photo Of Chicago Tribune Tower (Tasos Katopodis/Getty Images)

Tribune Co. Leaves Bankruptcy After 4 Years

Tribune Co. emerged from a Chapter 11 restructuring Monday, more than four years after the media company sought bankruptcy protection.


File Photo Of Chicago Tribune Tower (Tasos Katopodis/Getty Images)

Former Exec Accused Of Bilking Tribune Out Of $260,000

A federal grand jury has accused a 39-year-old woman of defrauding Chicago-based Tribune Co. during its lengthy bankruptcy.


Hostess Twinkies. (Credit: Susanna Song)

More Than 100 Potential Buyers Interested In Hostess Brand, Bankrupt Bakery Says

The update on the sale process came as Hostess also received approval to give its top executives bonuses totaling up to $1.8 million for meeting certain budget goals to bring down costs during the liquidation.


Workers prepare Hostess Twinkies for packaging at the Interstate Bakeries Corporation facility April 20, 2005 in Schiller Park. (Photo by Tim Boyle/Getty Images)

Hostess Says Talks To Stave Off Shutdown Fail

Hostess Brands Inc. lived to die another day.


Hostess Twinkies. (Credit: Susanna Song)

New Hope For Hostess In Bankruptcy Court

Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the company won’t go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week.


Workers prepare Hostess Twinkies for packaging at the Interstate Bakeries Corporation facility April 20, 2005 in Schiller Park. (Photo by Tim Boyle/Getty Images)

Hostess Snacks Flying Off Shelves After Company Shuts Down

Hostess, the maker of Twinkies, Ding Dongs and Wonder Bread, is going out of business, and customers have been rushing to local stores to grab their favorite fatty, sugary snacks before they’re gone.

CBS Chicago–11/16/2012

Workers prepare Hostess Twinkies for packaging at the Interstate Bakeries Corporation facility April 20, 2005 in Schiller Park. (Photo by Tim Boyle/Getty Images)

Twinkies Could Disappear If Hostess Liquidates Amid Labor Strife

The flagship Hostess product, the Twinkie, was invented by Schiller Park bakery manager James Dewar in 1930 under a precursor company, Continental Baking Co.


Pilots Picket

American Airlines Pilots To Picket At O’Hare Over Contract Dispute

American Airlines pilots will be holding an informational picket at O’Hare International Airport Thursday afternoon, in the midst of an ongoing labor dispute.

CBS Chicago–09/20/2012

Mark Shale

Clothing Retailer Mark Shale Going Out Of Business

The famed Chicago clothing retailer Mark Shale is will be closing three of its stores.

CBS Chicago–09/19/2012

Breast Cancer Ribbon

Y-Me Abruptly Closes, Files For Bankruptcy

A local organization helping Chicago-area women cope with breast cancer abruptly shuts its doors — and is filing for bankruptcy.


Green Garden Country Club in Frankfort will be auctioned March 9, 2012, as part of owner William J. McEnery's bankruptcy case. (File photo/ STMW)

Suburban Country Club On Auction Block In Bankruptcy

A Chicago firm is soliciting offers for the sale of Green Garden Country Club in Frankfort, part of the ongoing bankruptcy case of former gas station magnate William J. McEnery.


Michael's Fresh Market

Neighbors In Hyde Park, Kenwood Concerned After Michael’s Fresh Market Bankruptcy

The bankruptcy of Michael’s Fresh Market has drawn concerns about the store that stepped in to fill a vacancy in the South Kenwood neighborhood, after the Hyde Park Co-Op had left the site vacant for years.

CBS Chicago–01/09/2012

Chicago Sun-Times

Sun-Times Finalizes Sale To Investment Firm

The sale of the Chicago Sun-Times is a done deal.

CBS Chicago–12/27/2011

U.S. Postal Service mail carrier (Credit: Joe Raedle/Getty Images)

Looming Postal Cuts Could Eliminate Next-Day Mail

With bankruptcy looming over the U.S. Postal Service, it’s possible that next-day delivery will no longer be an option.

CBS Chicago–12/04/2011

American Eagle

O’Hare Travel Likely To Be Spared By American Bankruptcy

American Airlines is seeking Chapter 11 bankruptcy protection as it seeks to unload massive debt created by high jet fuel prices and labor problems.