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Family Christian Stores, the largest Christian bookstore in the U.S., has withdrawn its bankruptcy plan and will keep its stores open in order to save the jobs of its 4,000 employees, The Christian Post reported yesterday.  More than a dozen Christian publishers sued FCS over $20 million of consignment inventory, while the U.S. Trustee and creditors’ committee objected to how the proposed sale plan would allegedly benefit one of FCS' owners. In addition, Family Christian Acquisitions, a new subsidiary of FCS’s nonprofit parent ministry, Family Christian Ministries, decided against purchasing FCS’s assets. Last week, FCS owner Rick Jackson revealed that the chain plans to keep stores open in order to save the jobs of over 4,000 people. FCS, which is based in Grand Rapids, Mich., has more than 260 stores across 36 states nationwide.

The company that operates Yellow Cab in Chicago filed for bankruptcy protection early Wednesday, just hours after a Cook County jury awarded nearly $26 million to a local real estate executive who was severely brain damaged in a high-speed taxi crash in August 2005, The Chicago Tribune reported yesterday. The bankruptcy filing means that Marc M. Jacobs and his wife, Deborah, “may never see a dime,” said one of their lawyers. The legal turn of events occurred a few hours apart. First, a jury awarded $25.9 million to the couple Tuesday evening. Then, at 3:45 a.m. Wednesday, Yellow Cab Affiliation Inc. of Chicago filed for chapter 11. Yellow Cab said that the bankruptcy filing was a direct response to the jury verdict and listed Jacobs and his wife as among the company’s creditors. A lawyer for Yellow Cab said that its taxis would continue operating as usual while it seeks protection from creditors. Jacobs suffered severe and permanent brain damage following the crash and was unable to return to his level of work prior to the crash.

A Michigan paper company has announced plans to shut down a paper mill in Michigan's Upper Peninsula that has nearly 150 employees, the Associated Press reported today. FutureMark Manistique confirmed that the mill will close on or around March 24. The company says that this was an "extremely difficult decision" following efforts at the Manistique mill since it emerged from bankruptcy in 2012. The mill said it will fulfill as many immediate orders as possible, and a transition team will remain on site to shut down the mill.

Salus Capital LLC filed an adversary complaint on Wednesday in RadioShack Corp's chapter 11 case that seeks to hold credit-bidding in the electronic retailer's upcoming auction to $111 million, Reuters reported yesterday. RadioShack won bankruptcy court approval last month to auction approximately 2,000 of its stores with an initial $200 million bid from Standard General hedge fund, which will keep about half of the stores open and operate them under an agreement with Sprint Corp. It is unclear how much of its credit that Standard General plans to use in its bid at the March 23 auction. RadioShack owes Salus, a middle-market lender and subsidiary of Harbinger Group Inc., and Cerberus Capital Management $250 million for a loan. The case is In re RadioShack Corp., et al., Case No. 15-10197 in U.S. Bankruptcy Court for the District of Delaware.

Caesars Entertainment Corp. warned this week that the litigation stemming from its restructuring efforts could hamper its ability to continue operating as a going concern, Reuters reported today. Creditors have brought numerous lawsuits alleging fraud over transfers of assets out of the operating unit, Caesars Entertainment Operating Co. As the unit struggled to overhaul its operations prior to filing for bankruptcy in January, it transferred a number of its most valuable properties and casinos to affiliates of the parent company. Creditors have alleged that the moves were illegal efforts to put the assets beyond their reach. Caesars Entertainment said that when the operating unit filed for bankruptcy on Jan. 15 the parent would not need outside financing and would be able to guarantee the lease obligations of the operating unit.

A Virginia guardrail company belonging to a man who won a whistle-blower verdict against competitor Trinity Industries Inc. has filed for bankruptcy, Bloomberg reported today. Spig Industry LLC of Bristol, Va., had no income in 2014, according to its bankruptcy filing. In October, a federal jury in Marshall, Texas, found that Trinity defrauded the U.S. of $175 million by making changes to its ET-Plus guardrail system, designed to absorb the impact of a crash, without telling federal safety regulators. The whistle-blower lawsuit was brought by Joshua Harman, who with his brother Christopher helps run Spig Industry. In the whistle-blower case, Joshua Harman, who stands to gain as much as a third of the final judgment, said that his company had to file for bankruptcy protection to prevent the foreclosure of its manufacturing plant and the site on which it sits. The company listed assets of $21 million and debt of $11.7 million in court filings Monday in bankruptcy court. Trinity shares have risen almost 15 percent since a pair of favorable findings by federal regulators. The Federal Highway Administration concluded on March 11 that the Dallas-based company didn’t try to hide alleged defects in its shock-absorbing devices, and on March 13 it said that the devices had passed a second round of crash tests. The case is In re Spig Industry LLC, 15-70310, U.S. Bankruptcy Court, District of Western Virginia (Roanoke).

Quicksilver Resources Inc. and its U.S. units filed for chapter 11 protection on Tuesday, adding to a list of oil and gas producers who have folded amid low oil prices, Reuters reported yesterday. The company listed assets of $1.21 billion and liabilities of $1.35 billion in its bankruptcy petition in a Delaware court. Quicksilver said that its Canadian units were not included in the chapter 11 filing. Quicksilver Resources Canada Inc. has signed an agreement with its lenders for forbearance until June 16, 2015, of any default under the agreement arising from the chapter 11 filing. The case is In re Quicksilver Resources Inc., Delaware Court, District of Delaware, Case No. 15-bk-10585.