The group owns nine restaurants on the Hill.

Penn Camera, one of the last reliable brick-and-mortar camera stores in and around the District, has filed for bankruptcy and has closed five of its eight area stores.

The Wall Street Journal has news which will certainly come as no surprise — Borders bookstore has failed in their attempts to find a buyer and will liquidate all of its stores nationwide.

New York hedge fund Atalaya Capital Management were the winners in a bankruptcy auction in Tampa today to see who would control the Creative Loafing newspaper chain, owners of the Washington City Paper and other alternative weeklies, reports the St. Petersburg Times. Atalaya was Creative Loafing’s largest creditor by far, and they took control of the company by significantly outbidding a partnership made up of now former Loafing CEO Ben Eason and another hedge…

Concluding a more than four-year rollercoaster without inclines which supplied City Paper sports writer Dave McKenna with endless amounts of material, the Daniel Snyder-controlled Six Flags chain of amusement parks is officially bankrupt. Filing yesterday, the company finally admitted that their $2.4 billion debt mountain was unclimbable, even after selling off properties to gain capital and attempting to restructure agreements with creditors. Six Flags’ stock offering was recently kicked off the New York Stock Exchange…

The Washington City Paper will continue to be owned by Creative Loafing Inc., thanks to a ruling handed down today by U.S. Bankruptcy Judge Caryl E. Delano in Tampa. CEO Ben Eason will retain control of the alternative newspaper chain despite an attempt by creditor Atalaya to take over the company, reports Wayne Garcia from Loaf HQ in Tampa, who was careful to get the name of the D.C. publication correct this time. Eason…

UPDATE:Olsson’s has since posted a press release on their web site announcing the closing of all five locations. They’ve also created a blog-style testimonial page for fans of the local chain to leave their thoughts on the news. Olsson Enterprises, Inc., trading as Olsson’s Books & Records, Record & Tape Ltd., and Olsson’s Books announced today that it has closed all of its locations and petitioned the U.S. Bankruptcy Court District of Maryland for conversion…

Yesterday Creative Loafing, the owner of the Washington City Paper, announced it had filed for Chapter 11 bankruptcy protection. In a post on City Desk, City Paper editor Erik Wemple quoted Loaf CEO Ben Eason playing the filing off as not as bad as it sounds, since bankruptcy will give the company the breathing room it needs to finish a structural reorganization directed toward the internet. TambaBay.com’s The Feed blog dug into the Loaf’s financials,…

It was just a couple weeks ago that we told you about Olsson’s plans to shutter its Penn Quarter location — which it finally did, on Friday. In an email to customers, owner John Olsson had said that “The landlord has other plans for the space,” and we confirmed that those plans were to bring in UK noodle shop Wagamama. But the Post reported on Saturday that it looks like there’s a lot more to…