In March 2009, the company filed for Chapter 11 bankruptcy protection.
In the summer of 2006, the corporation sold a shopping mall they had built on the Republic Airport property of Fairchild Hiller for US$95,000,000.
[3] Jeffrey Steiner was the company's CEO until his resignation in October 2008; he died a month later.
[4] As of February 2009[update], the firm has been delisted from the New York Stock Exchange; a number of executives had recently left the company's senior management team, including Steiner's son, Eric; and the firm was being run by interim chief executive Phillip Sassower, the head of a New York private equity firm that is Fairchild's largest shareholder.
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