Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Postmarket

Last Trade
Delayed
$24.92
0.02 (0.08%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$24.90
Day's Change
0.03 (0.12%)
Bid
--
Ask
--
B/A Size
--
Day's High
25.26
Day's Low
24.71
Volume
(Below Average)
Volume:
51,007,411

10-day average volume:
60,730,446
51,007,411

California Pizza Kitchen files for bankruptcy, plans exit in less than 3 months

9:18 am ET July 30, 2020 (MarketWatch)
Print

California Pizza Kitchen said Thursday that it has filed for bankruptcy, as the restaurant chain looks to close unprofitable locations and reduce its long-term debt load, and emerge from bankruptcy in under three months. The company said it has entered into a restructuring support agreement with lenders to equitize the vast majority of its long-term debt. The agreement includes contemplating $46.8 million in debtor-in-possession financing, which will allow the company's restaurants to continue operating, and for the continued payments to vendors and employees. "The unprecedented impact of COVID-19 on our operations certainly created additional challenges, but this agreement from our lenders demonstrates their commitment to CPK's viability as an ongoing business," said Chief Executive Jim Hyatt. The company joins a list of companies that have gone bankrupt amid the pandemic, including Denbury Resources Inc. (DNR), J.C. Penney Co. Inc. (JCPNQ), Brooks Brothers, Ann Taylor and Loft parent Ascena Retail Group Inc. (ASNA) and Hertz Global Holdings Inc. (HTZ).

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 30, 2020 09:18 ET (13:18 GMT)

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