RCAP files for bankruptcy; Cetera to emerge as independent company
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RCS Capital Corp. said it planned to file for bankruptcy by the end of the month. The current chief executive of RCAP, Larry Roth, will remain the CEO of the new Cetera.
Reeling under hundreds of millions of dollars in debt, RCS Capital Corp. said on Monday it planned to file for Chapter 11 bankruptcy protection by the end of the month as part of a broad company restructuring.
At the same time, RCS Capital said it had reached an agreement with a majority of its fi
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