Express, Inc. has received a non-binding letter of intent from a consortium led by WHP Global (“WHP”), and participants including a wholly owned indirect subsidiary of Simon Property Group, L. P. (“Simon”) and Brookfield Properties (“Brookfield”) for...
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April 22, 2024, 08:00 AM
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Big Shoulders Capital (BSC) recently provided a $1 million debtor-in-possession loan for a steel fabrication business in Texas. Funds will provide working capital and enable a going-concern sale process. Due to the fabricator’s high urgency needs...
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April 22, 2024, 07:42 AM
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The American Bankruptcy Institute (ABI) supports the recently introduced S. 4150 by Sen. Richard Durbin (D-Ill.) to extend key provisions of the “Bankruptcy Threshold Adjustment and Technical Corrections Act” that were due to sunset on June 21 for an...
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April 19, 2024, 07:46 AM
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Histogen, a drug development company for treatment of bacterial skin infections, has filed voluntary petitions for relief under subchapter V of Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court for the...
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April 19, 2024, 07:00 AM
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Number Holdings, the direct parent company of 99 Cents Only Stores has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District of Delaware to implement...
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April 08, 2024, 07:47 AM
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Shoes For Crews, a global leader and pioneer in slip-resistant footwear, announced that its U.S.-based entities have filed voluntary petitions for Chapter 11 relief in the United States Bankruptcy Court for the District of Delaware (the “Court”) to...
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April 02, 2024, 07:30 AM
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JOANN has entered into a Transaction Support Agreement (TSA) with a majority of its financial stakeholders and additional industry financing parties to strengthen the Company’s financial position. In connection with the TSA, the Company has received...
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March 18, 2024, 07:57 AM
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BowFlex Inc. has entered into a purchase agreement with Johnson Health Tech Retail, Inc. (the “Stalking Horse Bidder”) to serve as the stalking horse bidder to acquire substantially all of the assets of the Company for $37,500,000 in cash at the...
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March 05, 2024, 08:02 AM
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Thrasio Holdings has entered into a restructuring support agreement with approximately 81% of its revolving credit facility lenders and approximately 88% of its term loan lenders that will eliminate approximately $495 million of the Company's...
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February 28, 2024, 07:49 AM
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B. Riley Real Estate and B. Riley Wholesale & Industrial Solutions (collectively, “B. Riley”), subsidiaries of B. Riley Financial, have been retained as advisors in connection with the Chapter 11 bankruptcy of Prize Management, LLC and Sand Ridge...
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February 26, 2024, 07:40 AM
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Robertshaw US Holding Corporation and certain of its U.S. affiliates, a leading global design, engineering, and manufacturing company, has commenced a financial restructuring process to improve its capital structure, strengthen its business, and...
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February 15, 2024, 07:47 AM
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Cano Health, a leading value-based primary care provider and population health company, has entered into a Restructuring Support Agreement (the "RSA") with lenders (the "Ad Hoc Lender Group") holding approximately 86% of its secured revolving and...
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February 05, 2024, 07:38 AM
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NanoString Technologies, a leading provider of life science tools for discovery and translational research, announced that steps are being taken to protect its business, customers, employees and its mission to “Map the Universe of Biology.” With...
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February 05, 2024, 07:29 AM
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Bankruptcy and restructuring lawyer Robert M. Hirsh joined Norton Rose Fulbright as a partner in the New York office.Hirsh focuses his practice on debtor-in-possession financing, exit financing and distressed and special situation financing. In...
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January 30, 2024, 07:25 AM
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Diamond Sports Group entered into a Restructuring Support Agreement (“RSA”) with its largest creditor groups, including over 85% of the Company’s first lien debt holders, over 50% of the Company’s second lien debt holders, and over 66% of unsecured...
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January 17, 2024, 07:30 AM
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Audacy entered into a restructuring support agreement with a supermajority of its debtholders on the terms of a comprehensive restructuring that will significantly deleverage its balance sheet and further position Audacy for long-term growth. Through...
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January 08, 2024, 08:05 AM
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SSG Capital Advisors (“SSG”) served as the investment banker to EFS Parlin Holdings (“Parlin” or the “Company”) in the sale of its Interconnection Rights to TigerGenCo (“TigerGenCo”). The sale was effectuated through a Chapter 11 Section 363 process...
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January 05, 2024, 07:50 AM
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Air Methods Corporation, the leading air medical service provider in the U.S., has successfully emerged from Chapter 11 with significantly reduced debt and increased liquidity that positions the Company for long-term success.Air Methods is moving...
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December 29, 2023, 07:30 AM
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Bird Global, a leader in environmentally friendly electric transportation, entered into a financial restructuring process aimed at strengthening its balance sheet and better positioning the company for long-term, sustainable growth. Bird will operate...
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December 20, 2023, 07:40 AM
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PREIT, a leading operator of diverse retail and experiential destinations, announced it is taking steps to execute a comprehensive reorganization to strengthen its balance sheet, reduce its total indebtedness by approximately $880 million and extend...
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December 12, 2023, 07:54 AM
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Troika Media Group, a consumer engagement and customer acquisition group, entered into a restructuring support agreement with certain funds managed by Blue Torch Finance, the Company's senior secured lenders, pursuant to which Blue Torch would...
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December 07, 2023, 07:30 AM
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The bankruptcy filing by WeWork, Inc. in November propelled November commercial chapter 11 filings to 842, an increase of 141 percent over the 349 filings registered in November 2022, according to data provided by Epiq Bankruptcy.The case filed by...
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December 05, 2023, 07:48 AM
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Charvi Gupta, a Director at Getzler Henrich & Associates (), has been honored as one of the American Bankruptcy Institute’s (ABI) 40 Under 40 Emerging Leaders in Insolvency Practice for 2023. The recognition, which identifies and honors 40...
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December 04, 2023, 07:27 AM
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Smart Earth Technologies (“SET”), a provider of environmentally sustainable utility management solutions for water utilities is looking to enter into a financial restructuring that will culminate in an orderly liquidation and wind-down of the Company...
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November 15, 2023, 07:02 AM
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WeWork announced that it has commenced a comprehensive reorganization to strengthen its capital structure and financial performance and best position the Company for future success. The Company maintains the strong support of its key financial...
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November 07, 2023, 08:07 AM
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IronNet, Inc. stabilizes operations and continues plan of reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.On October 10, 2023, IronNet entered into a binding term...
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November 06, 2023, 07:45 AM
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There were 631 commercial chapter 11 filings registered in October 2023, an increase of 106 percent from the 306 filings registered in October 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing...
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November 02, 2023, 08:00 AM
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A&G Real Estate Partners, in its capacity as real estate advisor to Rite Aid Corporation (the “Company”), announced plans to market for sale 78 Rite Aid and Bartell Drugs neighborhood pharmacy leases, as well as 21 fee-owned properties, pending...
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October 18, 2023, 07:45 AM
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Rite Aid Corporation has reached an agreement in principle with certain of its senior secured noteholders on the terms of a financial restructuring plan that will allow the Company to accelerate its ongoing business transformation. Implementing the...
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October 16, 2023, 08:05 AM
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Shift Technologies, a consumer-centric omnichannel retailer for buying and selling used cars, announced that it and its subsidiaries (collectively, “the Company”) intend to file a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy...
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October 09, 2023, 08:00 AM
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The 4,553 total commercial chapter 11 bankruptcies filed during the first nine months of 2023 represented a 61 percent increase over the 2,837 filed during the same period in 2022, according to data provided by Epiq Bankruptcy, the leading provider...
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October 04, 2023, 07:55 AM
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The increase in large corporate bankruptcies in the first half of 2023 marked a reversal from a gradual decline in filings since the start of 2021, according to a report released by Cornerstone Research.The report, Trends in Large Corporate...
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September 27, 2023, 08:00 AM
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The Wall Street Journal reported Rite Aid is negotiating with creditors over the terms of a bankruptcy plan that would include liquidating a substantial number of its more than 2,100 drugstores, citing people familiar with the talks.According to the...
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September 25, 2023, 08:00 AM
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First Citizens Bank announced CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, provided a $55 million revolving credit facility to National CineMedia to support their emergence from Chapter 11 bankruptcy.National...
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September 08, 2023, 08:00 AM
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There were 634 commercial chapter 11 filings registered in August 2023, an increase of 54 percent from the 411 filings registered in August 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data....
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September 06, 2023, 08:04 AM
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Mallinckrodt plc received approvals from the U.S. Bankruptcy Court for the District of Delaware for its "First Day" motions related to the Company's voluntary Chapter 11 petitions filed on August 28, 2023.As expected, the Court granted Mallinckrodt...
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August 31, 2023, 07:55 AM
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Bloomberg reported that Rite Aid Corp. is preparing a Chapter 11 bankruptcy filing to restructure debts including opioid liabilities, according to people familiar wiht the matter. According to the Bloomberg report, advisers to the pharmacy chain have...
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August 28, 2023, 08:02 AM
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Mallinckrodt plc, a global specialty pharmaceutical company, has taken the next step to implement the comprehensive financial restructuring plan contemplated by a Restructuring Support Agreement ("RSA") the Company previously entered into with more...
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August 28, 2023, 07:48 AM
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Ravinia Capital, a Chicago-based boutique investment bank specializing in sell-side M&A advisory and 363 bankruptcy sales, announced the sale of Allied Healthcare Products to Allied Medical LLC (dba Flexicare) through a Chapter 11 Section 363 sale...
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August 21, 2023, 07:09 AM
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Prime Trust, LLC and certain of its affiliates filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.The Chapter 11 filing follows the permanent appointment of...
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August 15, 2023, 07:45 AM
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Instant Brands (the "Company"), maker of consumer favorites like Instant Pot®, Corelle®, Pyrex®, Snapware®, CorningWare®, Visions® and Chicago Cutlery®, received a commitment for an additional $30 million in new term loan financing from its existing...
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August 11, 2023, 07:20 AM
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Proterra, a leading innovator in commercial vehicle electrification technology, announced that the Company is taking action to maximize the value of its business and enhance the potential of each of its product lines. To do so, Proterra has...
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August 10, 2023, 07:52 AM
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Yellow Corporation and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware for the Company’s planned...
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August 07, 2023, 08:07 AM
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There were 362 commercial chapter 11 filings registered in July 2023, an increase of 71 percent from the 212 filings registered in July 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall...
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August 03, 2023, 08:00 AM
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FTX Trading Ltd. (d.b.a. FTX.com), and its affiliated debtors, announced the filing of its initial Plan of Reorganization and related Term Sheet with the U.S. Bankruptcy Court. John J. Ray III, Chief Executive Officer and Chief Restructuring Officer...
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August 01, 2023, 07:54 AM
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AppHarvest, a sustainable food company, announced that it is pursuing a financial and operational transition to enable the company to reduce its outstanding liabilities. Business operations will continue at the farms, including shipping product to...
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July 24, 2023, 07:58 AM
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ViewRay announced that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of Title 11 the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District of Delaware. The Company...
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July 17, 2023, 07:55 AM
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Alpine Summit Energy Partners and certain affiliates and related companies announced that, after evaluating a variety of strategic alternatives, it has filed for voluntary chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of...
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July 10, 2023, 07:50 AM
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The 2,973 total commercial Chapter 11 bankruptcies filed during the first six months of 2023 represented a 68 percent increase over the 1,766 filed during the same period in 2022, according to data provided by Epiq Bankruptcy.Overall commercial...
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July 05, 2023, 08:18 AM
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Tattooed Chef, a leader in plant-based foods, announced that it intends to file for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Central District of California and intends to pursue a sale of...
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July 05, 2023, 07:38 AM
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Peer Street and its affiliated companies (“PeerStreet”) announced that on Monday, June 26, 2023, they filed for protection under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware....
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July 03, 2023, 08:03 AM
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Lannett Company announced that it and certain of its subsidiaries have successfully emerged from their Chapter 11 cases following the confirmation of its Plan of Reorganization (the “Plan”) on June 8, 2023.“Our swift and successful emergence marks a...
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June 20, 2023, 07:42 AM
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PKF Clear Thinking, the award-winning business advisory firm and subsidiary of PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, announced that Joseph Marchese has been appointed Chief Restructuring Officer of...
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June 16, 2023, 08:00 AM
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Instant Brands has received approvals from the U.S. Bankruptcy Court for the Southern District of Texas for its "First Day" motions related to the Company's voluntary Chapter 11 petitions filed on June 12, 2023. Notably, the Court authorized the...
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June 15, 2023, 07:59 AM
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Instant Brands, maker of consumer favorites like Instant Pot®, Corelle®, Pyrex®, Snapware®, CorningWare®, Visions® and Chicago Cutlery®, announced that it is taking steps to strengthen the Company as it continues providing housewares and appliance...
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June 13, 2023, 07:59 AM
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Commercial Chapter 11 filings increased 105 percent in May 2023 to 680 versus the 332 filings in May 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Nearly half of the Chapter 11 filings were...
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June 05, 2023, 08:00 AM
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The Algon Group announced that highly-regarded bankruptcy and restructuring lawyer, Robert "Bob" Fishman, has joined the firm as Vice Chairman. Fishman, coming out of a very brief retirement, brings 40 years of experience representing all parties in...
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June 01, 2023, 07:53 AM
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VICE Media Group announced that it has agreed to the terms of an asset purchase agreement ("APA") with a consortium of its lenders (the "Lender Consortium"), pursuant to which the Lender Consortium has agreed to purchase the Company, subject to...
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May 16, 2023, 08:00 AM
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Envision Healthcare announced it and certain of its wholly owned subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Envision has entered into a Restructuring Support Agreement (RSA) with its...
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May 15, 2023, 07:59 AM
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Small business filings, captured as subchapter V elections within Chapter 11, increased 81 percent to 157 in April 2023 from 87 in April 2022, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. All...
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May 03, 2023, 08:00 AM
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Lannett Company announced that it and certain of its subsidiaries have commenced prepackaged Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to effectuate the transactions contemplated by the Restructuring Support...
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May 03, 2023, 07:50 AM
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Bed Bath & Beyond announced that it and certain of its subsidiaries (collectively, "the Company") filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District...
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April 24, 2023, 08:00 AM
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David's Bridal, the nation's leading bridal and special occasion authority, announced that the Company and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United...
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April 17, 2023, 08:05 AM
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National CineMedia, the largest cinema advertising network in the U.S., announced a series of debt restructuring transactions that are expected to meaningfully strengthen the Company’s balance sheet and position the Company for long-term growth....
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April 13, 2023, 07:51 AM
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Revlon announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization. The Plan positions Revlon to emerge from bankruptcy in late April – consistent with the timeline...
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April 05, 2023, 08:00 AM
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Virgin Orbit Holdings, Inc. and its U.S. subsidiaries, a responsive space launch provider, announced that it commenced a voluntary proceeding under Chapter 11 of the U.S. Bankruptcy Code (“Chapter 11”) in the United States Bankruptcy Court in the...
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April 05, 2023, 07:53 AM
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SVB Financial Group filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value.SVB Securities and SVB Capital's funds and general...
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March 20, 2023, 08:00 AM
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A&G Real Estate Partners will be auctioning over 250 leases nationwide as part of a first round of store closures from Tuesday Morning Corp. in connection with the off-price home goods and décor retailer’s voluntary Chapter 11 reorganization. In...
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March 10, 2023, 07:21 AM
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New bankruptcy filings in February 2023 registered double-digit increases year-over-year across all U.S. major filing categories, according to data provided by Epiq Bankruptcy. The 31,889 total new bankruptcy filings in February were up 18 percent...
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March 03, 2023, 07:58 AM
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Avaya Holdings Corp., a global leader in solutions to enhance and simplify communications and collaboration, has entered into a Restructuring Support Agreement (the “Financial Restructuring”) with overwhelming support of more than 90% of the...
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February 15, 2023, 07:57 AM
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Tuesday Morning Corp., a leading off-price retailer of home goods and décor, announced that it is pursuing a financial and operational reorganization to enable the Company to reduce its outstanding liabilities, obtain significant and necessary...
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February 15, 2023, 07:50 AM
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Bankruptcy new filings were up year-over-year across Chapter 7, 11, 13 and 15 in January 2023, according to data provided by Epiq Bankruptcy.Total commercial filings increased 12 percent to 1,694 in January 2023 over the 1,508 total filings reported...
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February 06, 2023, 07:45 AM
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Diamond Scaffold Services, a scaffolding rental company with locations in the southern United States, has retained SC&H Capital to run the bankruptcy court-approved sale process for the Company. Founded over 20 years ago, DSS is a provider of...
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January 30, 2023, 07:10 AM
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Reuters reported Bed Bath & Beyond said on Thursday it had received a notice of default on its loan from JPMorgan Chase Bank, triggering a 22% slump in its shares.The company said in a regulatory filing it does not have sufficient resources to repay...
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January 27, 2023, 08:00 AM
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Serta Simmons Bedding, a leading global sleep company, announced that the company is taking steps to strengthen its financial position as it continues to support long-term growth.SSB has entered into a Restructuring Support Agreement with key...
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January 24, 2023, 08:00 AM
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Reuters reported that Party City Holdco Inc. filed for Chapter 11 bankruptcy protection on Tuesday, making it the latest casualty in the U.S. retail industry.Read the Reuters news story here.
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January 18, 2023, 07:59 AM
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Eclipse Business Capital provided a $200 million senior secured revolving credit facility to a leading provider of products to the Petrochemical Industry.The credit facility is secured by accounts receivable and inventory that will be used to support...
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January 09, 2023, 08:00 AM
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To facilitate the ongoing process to sell its businesses, DCL Corporation, a leading manufacturer and reseller of color pigments, announced that, on December 20, 2022, its United States based subsidiaries have filed voluntary petitions for a...
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December 22, 2022, 07:11 AM
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Clovis Oncology, a biopharmaceutical company focused on acquiring, developing, and commercializing innovative anti-cancer agents in the U.S., Europe, and additional international markets, announced that it and certain of its subsidiaries...
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December 12, 2022, 08:00 AM
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SSG Capital Advisors acted as the investment banker to David W. Carickhoff, Jr., Esq., the Chapter 7 Trustee of Electric Last Mile Solutions, Inc. and its subsidiary, Electric Last Mile, Inc. (together, “ELMS” or the “Company”), in the sale of...
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December 09, 2022, 07:45 AM
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BlockFi Inc. and eight of its affiliates (“BlockFi” or “the Company”) commenced voluntary cases under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (“the Court”) to stabilize its business...
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November 29, 2022, 08:01 AM
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Wingspire Capital provided a $40 million senior secured revolving line of credit to Corsicana Mattress Company as part of its exit from bankruptcy.It was the third financing transaction Wingspire Capital has provided to Corsicana, following an...
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November 16, 2022, 08:02 AM
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Commercial chapter 11 filings for bankruptcy increased 2 percent in October to 304 filings from 297 filings the previous year. Small business filings, captured as subchapter V elections within chapter 11, increased 28 percent to 131 in October 2022...
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November 04, 2022, 07:54 AM
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Year-over-year U.S. bankruptcy filings increased seven percent across all chapters for the second consecutive month in September, according to data released today from Epiq's Bankruptcy Analytics platform. There were 33,184 total filings registered...
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October 06, 2022, 08:01 AM
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Cineworld Group plc and its subsidiaries, a leading cinema operator in 10 countries, including the United States and the United Kingdom, with 747 sites and 9,139 screens globally, announced that Cineworld and certain of its subsidiaries (collectively...
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September 09, 2022, 08:04 AM
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Bankruptcy filings in August 2022 across all chapters totaled 35,355, a 10 percent increase from the August 2021 total of 32,276, according to new research released from Epiq's Bankruptcy Analytics platform.Overall commercial filings increased 6...
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September 02, 2022, 07:57 AM
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SAS AB entered into a debtor-in-possession (“DIP”) financing credit agreement for USD $700 million (the equivalent of approximately SEK 7.0 billion) with funds managed by Apollo Global Management (“Apollo”). DIP financing is a specialized type of...
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August 15, 2022, 08:06 AM
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There were 212 commercial chapter 11 filings registered in July 2022, a decrease of 13 percent from the 245 filings in July 2021, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial...
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August 04, 2022, 07:30 AM
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The 447 commercial chapter 11 filings in June represented a 29 percent increase from the 347 filings in June 2021, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Overall commercial filings...
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July 07, 2022, 07:20 AM
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First Guaranty Mortgage announced that the Company and affiliate Maverick II Holdings, LLC filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware to protect the business while exploring all available...
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July 05, 2022, 07:50 AM
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SC&H Capital acted as the exclusive investment banker to CCX, Inc., dba Braeburn Alloy Steel (“Braeburn”), in the sale of substantially all of its assets to a G.O. Carlson subsidiary (“Carlson”) in the United States Bankruptcy Court for the District...
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July 01, 2022, 07:00 AM
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Revlon today announced it and certain of its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.The Chapter 11 filing will allow Revlon to strategically...
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June 16, 2022, 08:08 AM
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Bloomberg reported cosmetics giant Revlon Inc. is preparing to file for Chapter 11 bankruptcy as it battles supply chain problems and a heavy debt load, according to people with knowledge of the matter.Read the Bloomberg report here.
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June 13, 2022, 07:55 AM
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Armstrong Flooring has received approval from the U.S. Bankruptcy Court for the District of Delaware to access its consensual debtor-in-possession ("DIP") financing totaling $24 million in net new money. This financing will provide the Company with...
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May 18, 2022, 08:00 AM
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Armstrong Flooring announced that the Company and certain of its subsidiaries have filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In a continuation of...
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May 09, 2022, 08:00 AM
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Total U.S. bankruptcy filings in April 2022 decreased 21 percent from the previous year, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. Bankruptcy filings totaled 32,508 in April 2022, down from...
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May 05, 2022, 07:24 AM
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Sungard Availability Services (Sungard AS) today announced that, after evaluating several strategic alternatives, it has filed voluntary chapter 11 petitions in the U.S. Bankruptcy Court in Houston, Texas and commenced proceedings in respect of its...
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April 13, 2022, 07:30 AM
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The total 36,049 bankruptcy filings for March represented a 34 percent increase over the 26,993 filings during the previous month of February, according to data provided by Epiq Bankruptcy. Similarly, the 34,244 total noncommercial filings for March...
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April 06, 2022, 07:45 AM
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The American Bankruptcy Institute (ABI) applauds the introduction of S. 3823, the “Bankruptcy Threshold Adjustment and Technical Corrections Act,” which would permanently set the debt limit at $7.5 million for small businesses electing to file for...
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March 21, 2022, 07:26 AM
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Commercial Chapter 11 filings in February totaled 203, a 52 percent drop from the 420 commercial Chapter 11 filings in February 2021, according to data provided by Epiq. The 1,420 commercial filings in February 2022 were 28 percent less than the...
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March 08, 2022, 07:45 AM
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Seadrill Limited announced that it anticipates emerging from the Chapter 11 process in February 2022, likely prior to the end of the present week. As previously announced, Seadrill's Chapter 11 plan of reorganization (the “Plan”) was confirmed by the...
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February 22, 2022, 07:05 AM
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The 1,499 bankruptcy commercial filings in January were 27 percent fewer than the 2,049 registered in January 2021, according to data provided by Epiq. Commercial Chapter 11 filings in January totaled 223, a 53 percent drop from the 479 commercial...
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February 07, 2022, 07:42 AM
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B. Riley released its Retail Industry Monitor entitled “The Ripple Effect.” Among key findings:With the acceleration of retail bankruptcy filings into 2020, many retail store closings projected for 2021 were pulled forward during 2020. This dynamic...
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November 17, 2021, 07:48 AM
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The 294 commercial chapter 11 filings recorded in October 2021 represented a 19 percent increase from the 247 commercial chapter 11 filings in September 2021, according to data provided by Epiq. Overall October 2021 business filings increased 4...
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November 05, 2021, 07:38 AM
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CBL Properties successfully completed its Chapter 11 reorganization. CBL emerged with a significantly improved capital structure, greater financial flexibility and a lowered cost of capital, positioning the company with a much-improved balance sheet...
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November 03, 2021, 07:30 AM
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GTT Communications, a leading global cloud networking provider to multinational clients, announced that the Company and certain of its direct and indirect subsidiaries have commenced prepackaged chapter 11 cases in the United States Bankruptcy Court...
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November 01, 2021, 07:50 AM
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Companies have unique opportunities to shift their focus beyond capital structure fixes during bankruptcy and identify plans and strategies for building a stronger foundation for scalable, sustainable growth upon emerging from Chapter 11, according...
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October 27, 2021, 07:42 AM
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For its work on the restructurings of GNC and Tuesday Morning, A&G Real Estate Partners was among the winners of The M&A Advisor’s 15th-Annual Turnaround Awards. It was the third such award presented to A&G—an advisory firm specializing in lease...
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September 28, 2021, 07:28 AM
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Armstrong Teasdale announced that Financial and Real Estate Services Partner Erin Edelman has been selected to lead the firm’s Restructuring, Insolvency and Bankruptcy practice. Edelman succeeds Partner Richard Engel, who was named Armstrong Teasdale...
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September 23, 2021, 07:39 AM
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For its work on the Chapter 11 bankruptcy restructuring of off-price home goods retailer Tuesday Morning, A&G Real Estate Partners was among the winners of the Turnaround Management Association’s 2021 Turnaround/Transaction of the Year Awards. The...
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September 22, 2021, 07:37 AM
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A Haynes and Boone team led by Partner Ian Peck has been honored by the Turnaround Management Association (TMA) for its representation of Tuesday Morning Corporation in its successful reorganization and emergence from Chapter 11.Haynes Boone received...
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September 15, 2021, 07:55 AM
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Commercial chapter 11 filings decreased 50 percent in August 2021 from last year, according to data provided by Epiq Systems. The 264 commercial chapter 11 filings in August 2021 fell by exactly half from the 528 filings registered in August 2020....
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September 08, 2021, 07:23 AM
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GTT Communications, a leading global cloud networking provider to multinational clients, has entered into a Restructuring Support Agreement with key stakeholders, including holders of a majority of its secured and unsecured debt and I Squared Capital...
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September 02, 2021, 07:05 AM
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The COVID-19 pandemic set off an increase in corporate bankruptcy filings not seen since the financial crisis, according to a report released today by Cornerstone Research. The report, Trends in Large Corporate Bankruptcy and Financial...
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August 26, 2021, 07:37 AM
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SSG Advisors acted as the investment banker to Avadim Health, Inc., in the sale of substantially all of its assets to an affiliate of Hayfin Capital Management. The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy...
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August 20, 2021, 07:38 AM
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Avadim Health completed the court-approved sale of substantially all its assets to a newly-created company owned by funds managed by Hayfin Capital Management (Hayfin) following a Chapter 11 process. The new company (the Company) will continue to...
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August 18, 2021, 07:39 AM
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Epiq released its July 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. Across all chapters, new filings in July were 32,375, down 6 percent from 34,277 in June. Commercial filings across all chapters were...
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August 04, 2021, 07:46 AM
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Alpha Latam Management ("ALM") and certain of its affiliates that operate its Colombian business (the "Debtors") filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Delaware....
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August 02, 2021, 07:38 AM
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Revolving credit facilities remained a critical tool for companies, with overall robust recoveries for both asset-backed loans (ABL) and cash flow revolvers, according to a new Fitch Ratings report."The pandemic fostered increased revolving credit...
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July 23, 2021, 08:08 AM
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Wolters Kluwer Legal & Regulatory U.S. launched Bankruptcy Essentials, a digital research and analysis solution that streamlines the process of managing bankruptcy litigation and restructuring transactions. Developed and curated by industry-leading...
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July 22, 2021, 07:52 AM
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B. Riley Advisory Services, a subsidiary of B. Riley Financial Inc, has been retained as restructuring advisor for Limetree Bay Refining, LLC.Limetree Bay Refining, LLC and several of its affiliates (collectively, “Limetree Bay” or the “Company”) has...
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July 15, 2021, 08:00 AM
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The 349 commercial chapter 11 filings in June represented a 42 percent increase from the 246 filings in May 2021, according to data provided by Epiq. Total commercial filings in June increased 11 percent to 1,983 from the 1,791 commercial filings in...
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July 08, 2021, 07:00 AM
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Hertz Global Holdings announced the composition of its new Board of Directors whose term is effective with the Company's successful completion of its restructuring and emergence from Chapter 11. The new Board will initially include eight members with...
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July 01, 2021, 07:25 AM
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Washington Prime Group Inc. announced that it and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas....
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June 14, 2021, 07:38 AM
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Creditors to be paid in full and existing shareholders to receive more than $1 billion of value.Hertz Global Holdings announced that the Bankruptcy Court confirmed the Company's Plan of Reorganization (the "Plan"). The Plan unimpairs all classes of...
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June 11, 2021, 08:00 AM
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Total commercial Chapter 11 filings in May decreased 66 percent from the previous year, according to data provided by Epiq, the American Bankruptcy Institute said. Commercial Chapter 11 filings totaled 246 in May, down from the 725 commercial Chapter...
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June 07, 2021, 07:14 AM
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Epiq released its May 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. The new filings for May dropped to 34,734 across all chapters. This is a 15 percent drop from the April 2021 new filings count of 40,913....
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June 04, 2021, 08:00 AM
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Total U.S. bankruptcy filings in April 2021 increased 6 percent from the previous year, according to data provided by Epiq. Bankruptcy filings totaled 40,911 in April 2021, up from the April 2020 total of 38,459, when filings sharply declined in the...
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May 07, 2021, 08:06 AM
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Armory Securities announced the successful sale of all of Wave Computing, Inc. via §363 auction under the U.S. Bankruptcy code. Armory served as exclusive financial advisor to Wave Computing, Inc. for the transaction.Founded in 2010, Wave Computing...
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May 07, 2021, 07:16 AM
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Hertz Global Holdings confirmed that it has received a revised proposal from affiliates of Knighthead Capital Management LLC, Certares Opportunities LLC, and Apollo Capital Management, LP to provide equity capital required to fund Hertz's exit from...
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May 05, 2021, 07:09 AM
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Frontier Communications Corporation announced the California Public Utilities Commission has unanimously voted to approve its emergence from Chapter 11. Having already received all other required state and federal approvals, the Company expects to...
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April 16, 2021, 06:00 AM
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Hertz Global Holdings selected an enhanced proposal from Centerbridge Partners, L.P., Warburg Pincus LLC, and Dundon Capital Partners, LLC (collectively, the "Sponsorship Group") to provide the equity capital required to fund Hertz's exit from...
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April 05, 2021, 08:00 AM
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Hertz Global Holdings announced it has made all of the required court filings in its Chapter 11 case needed to continue the process it initiated at the beginning of March 2021 to exit Chapter 11 in June 2021. The filings also report on the status of...
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March 31, 2021, 08:00 AM
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President Joe Biden on Saturday, March 27, 2021, signed the “COVID-19 Bankruptcy Relief Extension Act” into law to extend provisions providing financially distressed consumers and small businesses greater access to bankruptcy relief. The legislation...
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March 30, 2021, 07:35 AM
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Bloomberg reported that Greensill Capital filed for Chapter 11 bankruptcy protection for its U.S. unit in New York. According to the Bloomberg report, Greensill Capital Inc. listed assets of as much as $50 million and liabilities of up to $100...
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March 26, 2021, 08:05 AM
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Garrett Motion announced that the U.S. bankruptcy court has approved the disclosure statement in respect of Garrett’s proposed plan of reorganization, which is sponsored by a consortium of investors led by funds managed by Centerbridge Partners, L.P....
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March 15, 2021, 06:11 AM
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The American Bankruptcy Institute (ABI) sent a letter to Senate Judiciary Committee leadership on Friday supporting S. 473, the "COVID-19 Bankruptcy Relief Extension Act," to extend, for another year, bankruptcy-relief provisions due to sunset in the...
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March 09, 2021, 07:06 AM
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Hertz Global Holdings announced that it has reached a key milestone in the Company's Chapter 11 process by filing its proposed Plan of Reorganization ("Plan") and related Disclosure Statement with the U.S. Bankruptcy Court for the District of...
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March 03, 2021, 08:04 AM
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Epiq released its February 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. February experienced the lowest number of new monthly bankruptcy filings across all chapters, with only 31,188 filings, since...
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March 03, 2021, 07:30 AM
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Epiq released its January 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. January experienced the lowest monthly number of new bankruptcy filings across all chapters since February 2006 (26,617 filings) with...
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February 05, 2021, 08:30 AM
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Knotel announced plans to accelerate its transformation into a more capital efficient business and reorganize its operations and capital structure under new ownership.As part of its strategic path forward, Knotel has reached an agreement to sell the...
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February 01, 2021, 07:42 AM
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Christopher & Banks Corporation, a specialty women’s apparel retailer, announced that it has filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey (the...
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January 15, 2021, 08:15 AM
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Commercial Chapter 11 filings increased 29 percent during calendar year 2020 as the total of 7,128 climbed past the 5,519 recorded during calendar year 2019, according to data provided by Epiq. The 2020 commercial Chapter 11 filing total was the...
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January 13, 2021, 08:12 AM
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Tuesday Morning and certain of its subsidiaries announced that it has successfully completed its financial and operational reorganization and emerged from Chapter 11.Tuesday Morning is supported by a $110 million asset-backed lending facility...
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January 05, 2021, 08:21 AM
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Wave Computing and its subsidiaries including MIPS Tech, announced that the Company has reached an agreement with its secured lender Tallwood Technology Partners, LLC to restructure the Company's current capital structure and provide substantial...
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December 29, 2020, 07:00 AM
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Tuesday Morning and certain of its subsidiaries announced that the U.S. Bankruptcy Court for the Northern District of Texas has confirmed the Company’s Plan of Reorganization (the “Plan”). As a result, Tuesday Morning expects to successfully emerge...
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December 24, 2020, 08:15 AM
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Guitar Center announced that the United States Bankruptcy Court for the Eastern District of Virginia has confirmed the Company’s Plan of Reorganization (the “Plan”). As planned, the Company expects to emerge from Chapter 11 by December 31 with...
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December 18, 2020, 07:40 AM
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Superior Energy Services announced that it has advanced its previously announced financial restructuring by commencing voluntary cases under Chapter 11 of the U.S. Bankruptcy Code before the U.S. Bankruptcy Court (the “Bankruptcy Court”) for the...
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December 09, 2020, 08:12 AM
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SSG Capital Advisors announced that Teresa C. Kohl will be inducted as a Fellow in the 32nd Class of the American College of Bankruptcy. Kohl is one of 37 new Fellows, insolvency professionals who are being honored and recognized for their...
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November 23, 2020, 08:29 AM
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Gulfport Energy Corporation announced that the United States Bankruptcy Court for the Southern District of Texas (the “Court”) granted approval of all Gulfport’s “first day” motions, authorizing, among other things, Gulfport to continue paying...
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November 18, 2020, 08:00 AM
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Guitar Center, Inc., a leading musical instrument retailer, announced that it has entered into a comprehensive Restructuring Support Agreement (the “RSA”) with its key stakeholders, including its equity sponsor, a fund managed by the Private Equity...
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November 16, 2020, 10:00 AM
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The impact of COVID-19 is becoming evident in the accelerating Chapter 11 filings. The amount of Chapter 11 bankruptcy filings in the third quarter, which are tracked in the newest Polsinelli-TrBK Distress Indices Report, have hit the highest level...
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November 13, 2020, 08:30 AM
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Commercial Chapter 11 filings increased slightly as the 550 filings in October 2020 were up 4 percent over the 530 recorded in October 2019, according to data provided by Epiq Systems, Inc. Throughout 2020, more than one-half of the commercial...
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November 10, 2020, 08:00 AM
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Despite continued high unemployment related to the coronavirus (COVID-19) pandemic, personal and business bankruptcy filings fell 21.1 percent for the 12-month period ending Sept. 30, 2020, according to statistics released by the Administrative...
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November 03, 2020, 08:00 AM
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KPS Capital Partners, LP ("KPS") announced that, through a newly formed affiliate, it has entered into an asset purchase agreement with Briggs & Stratton Corporation and certain of its wholly-owned subsidiaries under which KPS will acquire...
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October 28, 2020, 08:50 AM
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The associated debt from North American oil and gas bankruptcies in 2020 has already reached an all-time high and is set to grow even further this year as the wave of Chapter 11 filings continues, a Rystad Energy report projects, analyzing industry...
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October 27, 2020, 08:27 AM
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Ruby Tuesday announced that it has filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code. Prior to its filing, the Company reached an understanding with its secured lenders to support its restructuring through...
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October 13, 2020, 08:33 AM
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J.Crew Group announced that it has successfully completed its financial restructuring process and emerged from Chapter 11 well positioned for long-term growth. As part of its financial restructuring, the Company has equitized more than $1.6 billion...
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September 11, 2020, 09:05 AM
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Lenders to bankrupt retailer J.C. Penney have extended a key deadline requiring the company to find a buyer after it was reported that Amazon is eyeing some of the company's properties as possible fulfillment center. The lenders gave the 118 year old...
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August 10, 2020, 09:10 AM
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Tailored Brands, Inc. and certain of its subsidiaries announced that it has entered into a restructuring support agreement (“RSA”) with more than 75% of its senior lenders. The RSA outlines agreed-upon terms for a pre-arranged financial restructuring...
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August 03, 2020, 09:00 AM
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Briggs & Stratton Corporation, a recognized global leader in providing power to get work done, today announced it has entered into a definitive stock and asset purchase agreement with KPS Capital Partners, LP (KPS), which has more than a 20-year...
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July 20, 2020, 08:00 AM
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Brooks Brothers, America’s oldest apparel company, announced that it has commenced Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to facilitate a value-maximizing sale process. A transaction would ensure that the...
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July 09, 2020, 09:05 AM
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NPC International, Inc. announced that it has entered into a restructuring support agreement (“RSA”) with lenders holding approximately 100% of the Company’s first lien priority debt and 70% of its first lien debt (collectively, the “Senior Secured...
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July 06, 2020, 08:55 AM
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GNC Holdings, Inc., a leading global health and wellness brand, announced that the Company, certain of its North American entities, certain of its secured lenders, and key stakeholders have reached an agreement to pursue a dual-path process that will...
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June 24, 2020, 09:10 AM
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AAC Holdings, Inc., a provider of inpatient and outpatient substance abuse treatment services and parent of American Addiction Centers, announced it has received the support of its Board of Directors and lenders to move forward with a strategic...
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June 23, 2020, 09:00 AM
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24 Hour Fitness, an industry-leading fitness brand for over 35 years, today announced that, due to the disproportionate impact of the COVID-19 pandemic, the Company has voluntarily filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the...
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June 16, 2020, 09:07 AM
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GVM Inc. of Biglerville, PA, an American manufacturer of high-end agriculture equipment called Prowler Double Duty Spreaders and Mako Sprayers, has exited Chapter 11 Bankruptcy in a transaction with Liquid Finance. With the reorganization, GVM has...
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June 12, 2020, 08:45 AM
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J.C. Penney Company, Inc. announced that it has received authorization from the U.S. Bankruptcy Court for the Southern District of Texas, in Corpus Christi, Texas to access its debtor-in-possession (DIP) financing, which includes $450 million of new...
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June 05, 2020, 09:05 AM
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J.C. Penney Company, Inc. announced that it has entered into a restructuring support agreement with lenders holding approximately 70% of JCPenney’s first lien debt to reduce the Company’s outstanding indebtedness and strengthen its financial position...
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May 18, 2020, 09:15 AM
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Intelsat S.A., a global satellite company, and certain of its subsidiaries commenced voluntary cases under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Virginia (the “Bankruptcy...
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May 14, 2020, 08:45 AM
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GGI Holdings, LLC and its affiliates, parent company of Gold’s Gym, filed voluntary petitions for relief under Chapter 11 in an effort to facilitate the financial restructuring of the company.In a statement the company said the pre-negotiated filing...
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May 11, 2020, 08:30 AM
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J.Crew Group, Inc., an internationally recognized omni-channel retailer of women's, men's and children's apparel, announced it has reached an agreement with its lenders holding approximately 71% of its Term Loan and approximately 78% of its IPCo...
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May 04, 2020, 09:20 AM
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Legal experts say COVID-19 related business bankruptcy filing in the state of Delaware will likely outpace those seen during the Great Recession of 2008-2009, as the first cases begin to land in front of judges.According to a report from Delaware...
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May 01, 2020, 09:05 AM
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Pace Industries, LLC announced that it has reached an agreement with its senior secured lenders on the terms of a comprehensive financial restructuring plan, which will deleverage the Company's balance sheet. This agreement has support from 100% of...
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April 13, 2020, 09:15 AM
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Modell’s Sporting Goods, America’s oldest family owned and operated retailer of sporting goods, athletic footwear, active apparel and fan gear, today announced that the Company has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code...
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March 12, 2020, 09:05 AM
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Pioneer Energy Services Corp. announced that the Company and certain of its subsidiaries have reached an agreement with its key stakeholders regarding the terms of a comprehensive financial restructuring, including the elimination of its existing...
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March 05, 2020, 09:10 AM
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CraftWorks Holdings, LLC, which operates restaurants and breweries under leading names such as Logan's Roadhouse, Old Chicago, Rock Bottom, and Gordon Biersch, today announced an agreement that would substantially reduce the Company's debt...
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March 03, 2020, 09:05 AM
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Mallinckrodt plc announced that the Company and its specialty generics-focused subsidiaries Mallinckrodt LLC, SpecGx LLC and certain other affiliates (collectively, "Specialty Generics") have reached an agreement in principle on the terms of a global...
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February 26, 2020, 09:15 AM
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Pier 1 Imports, Inc. (“Pier 1” or the “Company”) announced that it has entered into a Plan Support Agreement (the “PSA”) with a majority of its term loan lenders and is pursuing a sale of the Company. To facilitate an orderly sale process and...
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February 18, 2020, 09:03 AM
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Bloomberg reported the Boy Scouts of America (BSA) is seeking bankruptcy. According to the report, the BSA filed in Delaware early Tuesday under Chapter 11 of the U.S. bankruptcy code. Court papers listed liabilities of up to $1 billion and assets as...
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February 18, 2020, 08:55 AM
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McDermott International, Inc., provider of technology, engineering and construction solutions to the energy industry, announced that it has the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will...
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January 27, 2020, 08:00 AM
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EP Energy Corporation, which filed voluntary petitions for Chapter 11 on Oct. 3 in the United States Bankruptcy Court for the Southern District of Texas, has entered into a Senior Secured Superpriority Debtor-In-Possession Credit Agreement with...
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December 02, 2019, 08:55 AM
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Destination Maternity Corporation, the premier national retailer for maternity apparel and accessories, today announced that it and certain of its subsidiaries have filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code...
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October 23, 2019, 09:00 AM
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Purdue Pharma L.P., maker of the drug OxyContin, announced that it has reached an agreement in principle on a framework for settling the U.S. opioid litigation facing the Company with 24 state attorneys general, analogous officials from 5 U.S....
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September 16, 2019, 09:00 AM
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PG&E Corporation and Pacific Gas and Electric Company (PG&E) filed a joint Chapter 11 Plan of Reorganization in the United States Bankruptcy Court for the Northern District of California. This Plan is another step in a multi-step process as PG&E...
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September 10, 2019, 08:40 AM
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Teen retailer Forever 21 is preparing for a potential bankruptcy filing as it works to negotiate with lenders, according to reports from multiple media outlets.According to one report, based on sources who spoke to Bloomberg News, the company has...
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August 29, 2019, 09:00 AM
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President Donald J. Trump signed the “Small Business Reorganization Act of 2019” (SBRA; H.R. 3311) into law. The bipartisan legislation, which passed with the support of the American Bankruptcy Institute (ABI), passed the House in late July and the...
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August 26, 2019, 09:00 AM
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Perkins & Marie Callender’s announced that it has executed an Asset Purchase Agreement with Perkins Group LLC for the sale of its Perkins’ business and a segment of its Foxtail bakery business. In order to facilitate the sale, the Company has...
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August 06, 2019, 09:00 AM
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PES Energy Inc. and its subsidiaries (including its principal operating subsidiary, Philadelphia Energy Solutions Refining and Marketing LLC) (together, the “Company”) announced today that they had filed for bankruptcy protection under Chapter 11 of...
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July 23, 2019, 08:40 AM
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Weatherford International plc, Weatherford International Ltd. and Weatherford International, LLC, one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry...
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July 08, 2019, 08:50 AM
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Monitronics International, Inc., the wholly owned subsidiary of Ascent Capital Group, Inc., announced that it has voluntarily initiated its previously announced planned financial restructuring under Chapter 11 of the U.S. Bankruptcy Code to...
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July 02, 2019, 08:55 AM
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Legacy Reserves Inc., and collectively with its subsidiaries, announced its board of directors has approved, and the company has executed, a restructuring support agreement with its lenders under its reserve based revolving credit facility (RBL...
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June 14, 2019, 09:30 AM
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A bankruptcy filing isn't often associated with something to celebrate - unless you're a law firm handling one of the biggest Chapter 11 filings of the year.According to data tally by New York Law Journal, and analyzed by Forbes, all told attorneys...
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June 13, 2019, 09:00 AM
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INSYS Therapeutics, Inc., a specialty pharmaceutical development and distribution company, announced that INSYS has filed voluntary cases under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware to...
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June 10, 2019, 09:15 AM
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FTD Companies, Inc. (FTD), a premier floral and gifting company, announced that the Company and substantially all of its domestic subsidiaries have filed voluntary petitions commencing cases under Chapter 11 in the U.S. Bankruptcy Court for the...
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June 04, 2019, 09:00 AM
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Bristow Group Inc. (BRS) announced that the company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. Bristow intends to use the proceedings to restructure and strengthen its balance...
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May 13, 2019, 09:15 AM
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Emergent Capital, Inc. and its subsidiaries have reached a global settlement in principle of the Chapter 11 cases of certain of its subsidiaries and the suit it filed against LNV Corporation, Silver Point Capital L.P. and GWG Holdings, Inc in United...
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May 10, 2019, 08:55 AM
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A hedge fund that promised to turn around the popular discount shoe retailer Payless ShoeSource after its emergence from Chapter 11 in 2017 instead let it whither on the vine, eventually landing the company back in bankruptcy court in February...
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April 29, 2019, 09:15 AM
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Ritchie Bros., a global leader in asset management and disposition, announced that it has received bankruptcy court approval to purchase the assets of Welded Construction, L.P. together with Gordon Brothers, the global advisory, restructuring, and...
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April 29, 2019, 08:50 AM
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Hexion Inc. announced it has entered into a Restructuring Support Agreement (RSA) with the vast majority of holders of each of the company’s notes issuances, representing consensus across its capital structure, on the terms of a consensual financial...
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April 02, 2019, 08:45 AM
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Boutique denim company Diesel Jeans has filed for Chapter 11 bankruptcy protection, wavering under the strain of some $7.4 million in unsecured trade obligations, according to First Day Motions filed in bankruptcy court in Delaware. From its ...
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March 06, 2019, 08:07 AM
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Taking issue with a judge's ruling against the company in a dispute with bondholders, a defiant Windstream Holdings, Inc. announced that it and all of its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S....
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February 26, 2019, 08:28 AM
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Payless ShoeSource (“Payless” or the "Company") today announced that the U.S. Bankruptcy Court for the Eastern District of Missouri (the “U.S. Bankruptcy Court”) has approved the Company’s first day motions related to its voluntary filing for relief...
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February 20, 2019, 09:30 AM
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Bloomberg reported McKinsey & Co. agreed to pay $15 million to end a probe by the U.S. Trustee into whether the global consulting firm violated disclosure rules designed to prevent conflicts of interest in corporate bankruptcies, a federal judge said...
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February 20, 2019, 09:06 AM
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The other shoe is about to drop for discount footwear retailer Payless ShoeSource Inc., which is reportedly preparing to file for bankruptcy this month, the second time since 2017.
According to sources cited by Reuters, the company has been...
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February 15, 2019, 09:00 AM
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Toys"R"Us® has officially emerged as a new company, with new leadership and a new vision to deliver the magic of its iconic brands around the world.
Effective January 20, 2019, the new company, Tru Kids Inc. doing business as Tru Kids BrandsTM...
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February 12, 2019, 08:01 AM
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New England Motor Freight, Inc. announced that the Company and ten related entities have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark on February 11, 2019....
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February 12, 2019, 07:27 AM
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Editor's Note: On Friday, February 8, 2019, ABL Advisor inaccurately reported the restructuring facility amount provided by Citizens Bank. The correct amount is $105 million. We apologize for this error.
FULLBEAUTY Brands Holdings Corp. announced...
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February 11, 2019, 07:13 AM
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Store closing sales have begun at 798 Gymboree and Crazy 8 locations throughout the United States and Canada. The closing sales will be operated by a consortium of leading asset disposition firms including Great American Group, LLC, Tiger Capital...
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January 21, 2019, 08:18 AM
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Kentucky-based Innovative Mattress Solutions (IMS), parent company of Sleep Outfitters, Mattress Warehouse, and Mattress King, commenced voluntarily restructuring under Chapter 11, citing "a transformative stage" in the company's 35-year...
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January 14, 2019, 07:38 AM
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Sears Chairman Eddie Lampert isn't letting the company's 125-year retail legacy go without a fight. According to multiple news reports, Lampert tacked on to his original bid to buy the company through his hedge fund ESL Investments after his original...
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January 10, 2019, 08:00 AM
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Total commercial Chapter 11 filings during calendar year 2018 dropped 5 percent compared with 2017, 5,470 from 5,762, according to data provided by Epiq Systems, Inc. The 37,822 total commercial filings during 2018 dipped 2 percent from the...
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January 09, 2019, 07:10 AM
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Clothing retailer FULLBEAUTY Brands Inc. announced that it has entered into a comprehensive Restructuring Support Agreement with key stakeholders, including its equity sponsors, Apax Partners and Charlesbank Capital Partners, holders of 100% of its...
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January 04, 2019, 08:27 AM
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Real estate advisory and brokerage firm A&G Realty Partners will auction 10 department store properties formerly owned by The Bon-Ton Stores, Inc., on Jan. 28 in New York. All bids for the bankruptcy auction, which centers on fee-owned properties in...
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January 04, 2019, 08:05 AM
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The iconic 125-year old retailer Sears may have less than 24 hour to survive before creditors opt to liquidate the storied firm, which filed for bankruptcy in October, according to published reports. Despite receiving $300 million in debtor in...
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December 28, 2018, 08:53 AM
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Republic Metals Refining Corporation, a Florida-based provider of precious metals refining services, has asked a bankruptcy judge to approve the sale of the company "Free and Clear of All Liens, Claims, Rights, Interests and Encumbrances"...
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December 27, 2018, 08:00 AM
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Rite Aid Corporation announced that it has entered into a new senior secured credit agreement, consisting of a $2.7 billion senior secured asset-based revolving credit facility and a $450 million “first-in, last out” senior secured term loan facility...
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December 21, 2018, 09:03 AM
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American Tire Distributors, Inc. ("ATD" or the "Company") announced that the United States Bankruptcy Court for the District of Delaware ("the Court") has confirmed the Company's Plan of Reorganization (the "Plan"). The Company expects to complete...
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December 20, 2018, 08:05 AM
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Parker Drilling Company announced that it and its material U.S. subsidiaries have entered into a restructuring support agreement ("RSA") with holders of the Company's securities, including a significant amount of its 7.50% Senior Notes due 2020 and...
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December 13, 2018, 08:25 AM
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Waypoint Leasing Holdings Ltd., the largest independent global helicopter leasing company, announced that it and certain subsidiaries have entered into an agreement to be purchased by Macquarie Group for approximately $650 million. Macquarie...
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December 10, 2018, 09:01 AM
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As it struggles to right itself following a high profile sexual misconduct scandal, USA Gymnastics filed a voluntary petition for protection under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Indiana....
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December 06, 2018, 08:02 AM
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Second Avenue Capital Partners, LLC, announced the closing of a $20,000,000 asset based credit facility to help fund the purchase and on-going working capital needs of a new entity under the banner of Fallas Stores. This new facility was integral to...
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November 27, 2018, 07:04 AM
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Waypoint Leasing Holdings Ltd., the largest independent global helicopter leasing company, announced that it and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy...
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November 26, 2018, 07:24 AM
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LBI Media, Inc. announced it is pursuing a financial restructuring in order to implement an agreement with 100% of the Company’s senior lenders to reduce LBI’s debt by more than $350 million. LBI has also received a commitment for a new $38 million...
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November 26, 2018, 07:00 AM
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David's Bridal announced that it has taken the expected next step to implement its previously announced restructuring support agreement (RSA), filing for Chapter 11 in United States Bankruptcy Court in the District of Delaware. The court-supervised...
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November 20, 2018, 07:50 AM
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A bankruptcy judge in Virginia approved a proposal that could salvage the iconic toy retailer Toys “R” Us by giving control of the brand to a group of hedge funds that will earn money primarily through licensing ventures.
As ABLA reported last...
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November 14, 2018, 08:28 AM
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James Candy Company (JCC) announced a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the District of New Jersey. JCC anticipates the process of reorganization to move swiftly as it continues...
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November 13, 2018, 07:50 AM
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Sears Holdings Corporation announced that it has sought court approval of a "stalking horse" asset purchase agreement with Service.com to acquire the Sears Home Improvement business (SHIP) in a sale process under Section 363 of the U.S. Bankruptcy...
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November 05, 2018, 09:04 AM
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A massive amount of home-improvement and furnishings merchandise—about 1.5 million items valued at more than $23 million—is available at liquidation-sale discounts as bankrupt Home Owners Bargain Outlet (HOBO) shutters all seven of its stores...
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November 05, 2018, 07:17 AM
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Gastar Exploration Inc. announced that it has entered into a restructuring support agreement with the Company's largest (and only) funded-debt creditors and largest common shareholders, certain funds affiliated with Ares Management LLC. Subject to...
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October 29, 2018, 07:14 AM
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As many had anticipated, Sears Holdings Corporation filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.The Company expects to move through the restructuring...
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October 15, 2018, 07:23 AM
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National Stores will begin a store closing sale at 184 of its remaining locations, the company said. The store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources, Gordon Brothers and SB360 Capital Partners....
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October 15, 2018, 07:19 AM
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Claire's Stores, Inc. announced that it successfully completed its financial restructuring and emerged from Chapter 11 as the Company's court-confirmed Third Amended Plan of Reorganization went into effect October 12, 2018. With support from its...
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October 15, 2018, 07:15 AM
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The iconic toy retailer Toys "R" Us may get a second chance at thrilling kids the world over, with the company's creditors reportedly indicating that they are reconsidering the liquidation of the company. Reuters reports that the company's top...
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October 04, 2018, 10:00 AM
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Brookstone Company, Inc. announced that it has signed a Letter of Intent with Bluestar Alliance, LLC to acquire the brand assets of the company and to serve as a stalking horse bidder in Brookstone's Chapter 11 restructuring. In addition, the...
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September 10, 2018, 08:01 AM
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Commercial Chapter 11 bankruptcies for August totaled 361, down 27 percent from the 492 commercial Chapter 11 filings in August 2017, according to data provided by Epiq Systems, Inc. Total business filings decreased 6 percent to 3,164 from August...
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September 07, 2018, 07:17 AM
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Verity Health System of California, Inc., a nonprofit healthcare system, today filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Central District of California – Los Angeles...
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September 04, 2018, 08:01 AM
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Cenveo, Inc., a diversified manufacturer of print-related products including envelopes, custom labels, commercial print, and publisher solutions, announced that the United States Bankruptcy Court for the Southern District of New York has confirmed...
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August 20, 2018, 08:00 AM
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National Stores, Inc., a 344 store chain in twenty-two states and Puerto Rico, announced today that it has initiated a court-supervised restructuring with the support of its lenders and suppliers integral to the business. The Company filed voluntary...
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August 07, 2018, 07:48 AM
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RM Holdco LLC and its subsidiaries, the operator of Chevys Fresh Mex, El Torito, and other full-service Mexican restaurant brands, announced that it has executed an Asset Purchase Agreement with an affiliate of Z Capital Group, LLC. In order to...
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August 06, 2018, 07:08 AM
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Heritage Home Group LLC announced that it, its parent company HH Global II BV, and its related U.S. affiliates have filed petitions with the U.S. Bankruptcy Court for the District of Delaware in Wilmington to commence a restructuring process that...
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July 31, 2018, 08:00 AM
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The NORDAM Group, Inc., together with its domestic subsidiaries and affiliates, announced it has filed a voluntary petition for protection under Chapter 11 reorganization. NORDAM’s foreign subsidiaries and affiliates have not filed for Chapter 11...
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July 24, 2018, 08:00 AM
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Global private equity giant Silver Lake Partners is reportedly seeking to invest $500 million into bankrupt communications firm iHeartMedia. According to a report in The Wall Street Journal, Silver Lake extended the overture to iHeart's largest...
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July 20, 2018, 07:24 AM
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Embattled film production studio The Weinstein Co. has reached a deal with creditors to move forward with its previously announced sale to Lantern Capital Partners. The compromise comes just days ahead of a scheduled hearing on the matter. The...
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July 09, 2018, 08:00 AM
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Members of the Congressional Progressive Caucus, led by Co-Chairs Rep. Raúl M. Grijalva (D-AZ) and Rep. Mark Pocan (D-WI), along with CPC Vice Chair Rep. Keith Ellison (D-MN), and Sen. Bernie Sanders (I-VT), are taking aim at two of the world's...
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July 09, 2018, 08:00 AM
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The Rockport Group announced that, after completing a Court approved marketing process, it intends to complete the previously announced Asset Purchase Agreement with CB Marathon Opco, LLC, an affiliate of Charlesbank Capital Partners, LLC, pending...
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July 05, 2018, 08:00 AM
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EV Energy Partners, L.P. announced that it has successfully completed its financial restructuring and has emerged from Chapter 11 as a new corporation under the name Harvest Oil & Gas Corp. Through the restructuring, Harvest has eliminated...
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June 05, 2018, 07:09 AM
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Remington Outdoor Company announced that it has emerged from Chapter 11 after successfully implementing its plan of reorganization previously confirmed by the Delaware bankruptcy court on May 4, 2018.
The Plan provides a comprehensive balance sheet...
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May 18, 2018, 07:30 AM
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Total U.S. bankruptcy filings increased 3 percent in April 2018 over April of last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 69,736 in April 2018, up from the April 2017 total of 67,710. The 66,510 consumer...
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May 07, 2018, 07:29 AM
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Lantern Capital Partners, a Dallas-based private equity firm that specializes in investing in underperforming companies, has been selected as the winning bidder for the purchase of bankrupt film production studio The Weinstein Company, according to...
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May 03, 2018, 08:00 AM
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Gibson Brands Inc., the company that brought the world the famed Les Paul guitar used by many music legends through the years, announced it is entering Chapter 11 bankruptcy protection. Gibson said in a statement the company will be re-focusing on...
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May 02, 2018, 07:50 AM
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FirstEnergy Corp.announced it has reached an agreement in principle with two groups of key creditors in the Chapter 11 proceedings of FirstEnergy Solutions (FES), its related entities and FirstEnergy Nuclear Operating Company (FENOC) on a proposed...
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April 24, 2018, 07:12 AM
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Bertucci's, the casual restaurant known for its authentic Italian foods and signature brick oven pizzas, announced that it filed voluntary petitions for relief under Chapter 11 over the weekend in the United States Bankruptcy Court for the District...
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April 16, 2018, 07:31 AM
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The Bon-Ton Stores, Inc. announced that it has received a signed letter of intent from an investor group composed of DW Partners, Namdar Realty Group (including its partner Mason Asset Management) and Washington Prime Group (the "investor group")...
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April 10, 2018, 07:14 AM
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Nine West Holdings, Inc., a leading footwear, accessories, women's apparel, and jeanswear company with a portfolio of brands that includes Nine West, Anne Klein, and Gloria Vanderbilt, today announced that it has filed voluntary petitions for...
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April 09, 2018, 08:01 AM
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Remington Outdoor Company, a manufacturer of small arms, has filed for Chapter 11 protection from its creditors in U.S. Bankruptcy Court in Delaware. The company listed assets of $100-500 million and liabilities of $100-500 million.
Remington did...
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March 26, 2018, 08:00 AM
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The massive liquidation of retail toy giant Toys 'R' Us begins Thursday, with more than 700 locations in the U.S. and Puerto Rico set to shutter by June, according to the company's plans.
The timetable was disclosed Tuesday at a hearing in U.S....
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March 22, 2018, 08:00 AM
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Following an 11th hour effort to save the troubled film production firm from bankruptcy, Weinstein Co. announced that it filed for Chapter 11 protection.
The company filed for bankruptcy in a Delaware court, listing $500 million to $1 billion in...
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March 20, 2018, 07:38 AM
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Total commercial bankruptcy filings decreased slightly in February 2018 to 2,795, representing a 2.5 percent decrease from the 2,866 business filings recorded in February 2017, according to data provided by Epiq Systems, Inc. The 425 total commercial...
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March 12, 2018, 08:00 AM
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Orexigen Therapeutics, Inc., a biopharmaceutical company focused on the treatment of obesity, announced that it has elected to file a voluntary petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware...
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March 12, 2018, 07:51 AM
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iHeartCommunications, Inc., an indirect subsidiary of iHeartMedia, Inc. was given a temporary reprieve from its lenders, delaying an expected bankruptcy filing from the troubled communications firm. The company entered into a Forbearance Agreement...
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March 06, 2018, 08:00 AM
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Tops Markets, LLC announced that it is pursuing a financial restructuring in order to eliminate a substantial portion of debt from the Company’s balance sheet and position Tops for long-term success.Tops stores across the Company’s portfolio in...
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February 23, 2018, 07:10 AM
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The Bon-Ton Stores began store closing sales on February 1 at 42 select locations as part of the company’s recently announced store rationalization program and Chapter 11 Bankruptcy filing on February 6, 2018 The in-store sales will take place at Bon...
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February 21, 2018, 07:10 AM
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Remington Outdoor Company announced that it has reached a Restructuring Support Agreement with creditors holding a majority of the FGI Operating Company, LLC Term Loans due in 2019 and 7.875% Senior Secured Notes due in 2020. The RSA provides for the...
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February 13, 2018, 08:01 AM
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The Bon-Ton Stores, Inc. announced that the company and its subsidiaries have filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District...
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February 05, 2018, 07:30 AM
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Haynes and Boone, LLP represented The Bank of Tokyo-Mitsubishi UFJ, Ltd, as Administrative Agent to a large group of international commodity finance banks in their successful recovery of more than $2 billion in debt owed by Noble Americas Corp. — a...
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January 18, 2018, 07:33 AM
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EXCO Resources, Inc., an oil and natural gas exploration firm, announced that in order to facilitate a restructuring of its balance sheet, the company and certain of its subsidiaries have filed voluntary petitions for a court-supervised...
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January 16, 2018, 07:28 AM
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Completed distressed debt and bankruptcy restructuring activity totaled $282.2 billion during full year 2017, a 18% decrease compared to 2016, according to data released by Thomson Reuters.There were 302 completed restructuring transactions worldwide...
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January 15, 2018, 07:31 AM
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A newly published analysis of distressed exchanges, or DEs, by Moody's Investors Service finds corporates' use of DEs increasing since the global financial crisis, with companies such as Chesapeake Energy and Claire's Stores contributing to the...
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January 02, 2018, 07:37 AM
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J.G. Wentworth Co. filed a pre-packaged petition for Chapter 11 protection, the second timein five years the specialty finance comoany has sought credit protection from the courts. The company is seeking to restructure $450 million in debt in a deal...
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December 13, 2017, 07:41 AM
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The Woodbridge Group of Companies, LLC and certain of its affiliates and subsidiaries announced that it has commenced a process to implement a debt recapitalization intended to restructure its approximately $750 million in debt. To facilitate this...
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December 04, 2017, 07:43 AM
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Cumulus Media Inc. announced that it has entered into a Restructuring Support Agreement with, among others, certain of its secured lenders, holding in the aggregate, approximately 69% of the Company’s term loan to reduce the Company’s debt by more...
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November 30, 2017, 07:09 AM
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A Bankruptcy court in Delaware has cleared Vitamin World to shutter more than 100 stores as it continues to seek a buyer for the remianinder of the company. Store closing sales will begin immediately at select Vitamin World locations – offering...
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November 27, 2017, 07:23 AM
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The rate of exploration and production (E&P) bankruptcy filings in the energy sector has continued to drop over the course of 2017, with total filings down by more than two-thirds compared to the same period in 2016, according to the law firm of...
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November 17, 2017, 07:08 AM
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Global Brokerage, Inc., the securities firm formerly known as FXCM Group, has entered into a restructuring support agreement and expects to be delisted from Nasdaq Global Market, transferring to Nasdaq Capital Market and certain changes to its board...
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November 13, 2017, 08:00 AM
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Avaya Holdings announced that its wholly-owned subsidiary, Avaya Inc., has successfully priced a $2.925 billion senior secured term loan, which was upsized from $2.425 billion, in response to strong market demand. The term loan results in a...
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November 13, 2017, 07:51 AM
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The J.G. Wentworth Company announced an agreement, with lenders holding over 87% of the aggregate principal amount outstanding under the Company’s $449.5 million senior secured credit facility, to significantly deleverage the Company. The agreement...
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November 13, 2017, 07:50 AM
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After less than four months, True Religion Brand Jeans has emerged from Chapter 11 Bankruptcy following negotiations with its key stakeholders, under a Plan of Reorganization approved by the Delaware Bankruptcy court on October 5, 2017.True...
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October 30, 2017, 07:40 AM
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Toys"R"Us, Inc. announced that the U.S. Bankruptcy Court for the Eastern District of Virginia entered a final order granting the company authority to access the full amount of its more than $3.0 billion in debtor-in-possession (DIP) financing. The...
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October 26, 2017, 08:00 AM
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Bankrupt shipping firm GulfMark Offshore, Inc. and GulfMark Rederi AS, a wholly-owned subsidiary of the company, entered into a commitment letter with DNB Markets, Inc., DNB Capital LLC and Hayfin DLF II Luxco 2 S.à.r.l. regarding the terms of the...
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October 04, 2017, 07:16 AM
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Paper maker Appvion, Inc. announced that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to facilitate a balance...
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October 02, 2017, 07:17 AM
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Seagate Technology plc, a provider of storage solutions, announced its participation in the consortium led by Bain Capital Private Equity that has entered into an agreement with Toshiba Corporation to acquire Toshiba Memory Corporation. In the...
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September 29, 2017, 07:15 AM
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Toys“R”Us, Inc. announced that the company and certain of its U.S. subsidiaries and its Canadian subsidiary have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia in...
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September 19, 2017, 07:35 AM
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The Gymboree Corporation announced that the United States Bankruptcy Court for the Eastern District of Virginia has confirmed the Company's Plan of Reorganization. Gymboree expects to complete its financial restructuring process and emerge from...
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September 11, 2017, 07:51 AM
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Ironclad Performance Wear Corporation, a provider of high-performance task-specific work gloves, announced that the company and its subsidiary filed voluntary petitions under Chapter 11 of the U. S. Bankruptcy Code in the U. S. Bankruptcy Court...
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September 11, 2017, 07:17 AM
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SSG Capital Advisors acted as the investment banker to Unilife Corporation in the sale of substantially all of its assets to UNL Holdings LLC, an affiliate of OrbiMed Advisors LLC, and Amgen Inc. The sale was effectuated through a Chapter 11 Section...
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August 17, 2017, 07:11 AM
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Nuverra Environmental Solutions, Inc. announced that, on August 7, 2017 the company and its material subsidiaries emerged from Bankruptcy protection under chapter 11 of the United States Bankruptcy Code. Pursuant to their Amended Joint Plans of...
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August 14, 2017, 07:55 AM
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Garden Fresh Restaurants, parent of Souplantation and Sweet Tomatoes, has been acquired by two private equity firms just months after its emergence from bankruptcy.
In a press release, the San Diego-based chain, which operates in nine startes...
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August 09, 2017, 07:52 AM
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Total U.S. bankruptcy filings decreased 8 percent in July 2017 from June, according to data provided by Epiq Systems, Inc. and reported by the American Bankruptcy Institute. Total filings registered 61,366 in July 2017, down from the June 2017 total...
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August 04, 2017, 07:17 AM
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TerraVia Holdings, Inc., a next-generation food, nutrition and specialty ingredients company and pioneer in algae innovation, announced today that it has entered into a "stalking horse" stock and asset purchase agreement with Corbion N.V., a...
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August 02, 2017, 07:08 AM
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Georgia-based flooring firm Beaulieu Group LLC, doing business as Beaulieu Group LLC, announced that it has commenced a formal proceeding to restructure its balance sheet by filing voluntary petitions under Chapter 11 in the United States Bankruptcy...
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July 18, 2017, 07:38 AM
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The Gymboree Corporation announced that, following a comprehensive evaluation of its retail footprint as part of its previously announced court-supervised financial restructuring, the Company intends to close approximately 350 stores, mainly across...
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July 13, 2017, 07:41 AM
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Stradley Ronon announced today that it has continued the growth of its New York office with the hiring of respected bankruptcy and commercial litigation attorney Deborah A. Reperowitz. Reperowitz joins Stradley Ronon as co-chair of the firm’s...
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July 07, 2017, 07:03 AM
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A bankruptcy court in New York has approved an agreement between BCBG Max Azria Group, LLC for the sale of substantially all the assets of the company through a Chapter 11 plan to Marquee Brands LLC and Global Brands Group Holding Limited. According...
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June 28, 2017, 07:23 AM
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Takata, the company linked to 11 deaths in the U.S. resulting from exploding airbags, has filed for bankruptcy and civil rehabilitation, and will sell substantially all of its global assets to Michigan-based Key Safety Systems for $1.588 Billion...
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June 26, 2017, 08:00 AM
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Sears Canada Inc. and certain of its subsidiaries have been granted an order from the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act (CCAA).Among other things, the Initial Order provides for a stay of proceedings in...
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June 23, 2017, 08:00 AM
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As the industry continues to struggle, the number of retailers filing for bankruptcy keeps growing, and 2017 could end up with the highest number of retail bankruptcies ever. That's the assessment of a new report from BankruptcyData.com that compiles...
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June 22, 2017, 07:30 AM
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Soupman, Inc., a producer and marketer of high-quality branded soups bearing the name "Original Soupman" announced that it has filed for Chapter 11 bankruptcy protection.SM also announced it has secured a new $2 million debtor-in-possession credit...
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June 14, 2017, 07:59 AM
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The Gymboree Corporation announced that it has signed a Restructuring Support Agreement with a majority of its Term Loan Lenders, securing critical stakeholder support for a comprehensive financial restructuring and recapitalization of the company...
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June 12, 2017, 07:15 AM
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Ignite Restaurant Group, owner of the Joe’s Crab Shack and Brick House Tavern + Tap brands, announced that it has entered into an agreement with an affiliate of Kelly Companies, a San Diego based private equity firm, pursuant to which it would sell...
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June 07, 2017, 07:19 AM
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SSG Capital Advisors, LLC acted as the investment banker to Verengo, Inc in the sale of substantially all of its assets to an affiliate of Crius Energy, LLC. The sale was effectuated through a Chapter 11 plan, which was approved by the U.S....
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June 07, 2017, 07:17 AM
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Otterbourg P.C. announced that Keith N. Costa has joined the firm as a member in the restructuring and bankruptcy practice, and Michael Wenger has joined the firm as counsel in the banking and finance practice. Costa focuses his practice on the...
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June 02, 2017, 07:10 AM
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21st Century Oncology Holdings, Inc., a global provider of integrated cancer care services, announced that it has reached an agreement in principle with its senior lenders and bondholders on the terms of a comprehensive debt restructuring that is...
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May 26, 2017, 07:45 AM
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Tidewater Inc. announced that it and certain of its subsidiaries have filed voluntary petitions under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware to pursue a prepackaged plan of...
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May 18, 2017, 07:17 AM
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Marsh Supermarkets, LLC, announced that it has filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware, a step the Company has taken to enable its business operations to continue normally as it seeks a buyer for...
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May 12, 2017, 08:18 AM
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MidCap Financial announced it has provided a $150 million senior credit facility to Erickson Incorporated, a global provider of aviation services. The credit facility supports Erickson’s emergence from Chapter 11 bankruptcy and will provide ongoing...
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May 08, 2017, 07:04 AM
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Central Grocers, Inc. announced that the company and all of its subsidiaries have voluntarily elected to file for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The company intends to use...
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May 05, 2017, 07:14 AM
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Adeptus Health Inc. announced that it has collaborated with Deerfield Management Company and certain of its other creditors on the terms of a comprehensive financial restructuring plan that is expected to significantly reduce the outstanding debt...
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April 21, 2017, 07:00 AM
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Individuals account for more than a quarter of chapter 11 bankruptcy filings, and this share has grown over time. That's according to the results of the “National Study of Individual Chapter 11 Bankruptcies,” commissioned by the ABI Endowment...
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April 17, 2017, 07:11 AM
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A new study released today by AlixPartners, the global business-advisory firm, posits that the turbulence in the chain-restaurant industry of late—from underperforming results to an uptick in bankruptcies to renewed shareholder pressures—might not be...
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April 13, 2017, 07:11 AM
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Great American Group, LLC, a leading provider of advisory and valuation services and a subsidiary of B. Riley Financial, Inc., and Tiger Capital Group, LLC, which provides asset valuation, advisory and disposition services to a broad range of retail...
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April 12, 2017, 07:15 AM
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Ciber, Inc., a global information technology consulting, services and outsourcing company, announced that it and certain U.S. subsidiaries filed voluntary petitions seeking relief under Chapter 11 of the United States Bankruptcy Code in the United...
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April 10, 2017, 07:22 AM
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New York hedge fund Deerfield Management, a healthcare-only investment firm with over $8.0 billion under management, has purchased outstanding bank debt from Adeptus Health, Inc., and expects to provide additional financing, along with operational...
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April 07, 2017, 07:09 AM
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Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc. (CEOC) and its Chapter 11 debtor subsidiaries announced the pricing of $1.435 billion of senior secured credit facilities for CEOC, consisting of a $1.235 billion...
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April 05, 2017, 07:10 AM
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Westinghouse Electric Company, LLC, a U.S. company, and certain of its subsidiaries and affiliates, filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code. The Company is seeking to undertake a strategic restructuring as a result of...
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March 29, 2017, 07:30 AM
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Donlin, Recano & Company, Inc., an AST company, announced that Meg Manning has joined the firm as Director of Business Development. Manning is primarily focused on strengthening the company's presence in multiple markets, as well as expanding its...
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March 28, 2017, 07:11 AM
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Tiger Capital Group and Great American Group have been chosen to assist outdoor specialty retailer Gander Mountain in the closure of 32 under-performing locations across the United States.The St. Paul, Minn.-based retailer, which filed for Chapter 11...
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March 24, 2017, 08:00 AM
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Debt collection agency SquareTwo Financial Services announced it reached an agreement with Resurgent Holdings LLC under which Resurgent or one or more of its subsidiaries or affiliates will acquire substantially all of SquareTwo’s portfolio of assets...
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March 20, 2017, 07:11 AM
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Chapter 11 filings rose 6% last year to 7,450, after several years of significant decline, according to a new report from the Administrative Office of the U.S. Courts. The AO's annual Judicial Business of the United States Courts for 2016 shows that...
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March 15, 2017, 08:00 AM
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Gander Mountain Company announced that, to maximize the opportunity to achieve a "going-concern" sale of its business, it and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy...
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March 13, 2017, 07:15 AM
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Apparel and home décor retailer Gordmans Stores, Inc. announced that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Nebraska.Concurrently...
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March 13, 2017, 07:05 AM
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General Wireless Operations Inc., doing business as RadioShack, announced that the Company filed voluntary petitions under Chapter 11 in the United States Bankruptcy Court for the District of Delaware.RadioShack.com, stores and dealer locations...
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March 09, 2017, 08:00 AM
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Total U.S. bankruptcy filings decreased 10 percent in February from the same period last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 58,336 in February 2017, down from the February 2016 total of 64,712. Consumer...
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March 08, 2017, 07:02 AM
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hhgregg, Inc. announced that the company has taken action to restructure its balance sheet and better position itself for future success by filing voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code.
The...
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March 07, 2017, 07:15 AM
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MC Sports is closing all 66 of its stores across the Midwest, providing shoppers in seven states with significant discounts on over $110 million of top-name sporting goods and apparel brands. A joint venture between Tiger Capital Group and Great...
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February 28, 2017, 07:01 AM
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EisnerAmper’s Bankruptcy and Reorganization group was named the winner in the CHAPTER 11 REORGANIZATION OF THE YEAR (Over $25MM to $100MM) category recognizing the firm’s engagement for the Chapter 11 Reorganization of EZ Mailing Services, Inc., et...
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February 07, 2017, 07:00 AM
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Eastern Outfitters LLC, the parent company of sporting goods retailers Eastern Mountain Sports (EMS) and Bob’s Stores, filed for Chapter 11 protection over the weekend, according a petition in the Delaware Bankruptcy Court. The company, which...
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February 06, 2017, 08:00 AM
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Telecom provider Avaya Inc. announced that it has commenced a formal proceeding to restructure its balance sheet to better position itself for the future. To facilitate this restructuring, the Company filed voluntary petitions under chapter 11 of the...
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January 20, 2017, 08:05 AM
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Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc. (CEOC) and its Chapter 11 debtor subsidiaries announced that the U.S. Bankruptcy Court for the Northern District of Illinois has confirmed the Debtors' Plan of...
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January 18, 2017, 08:00 AM
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Limited Stores, LLC, parent company of women's fashion apparel retailer The Limited, announced that it has filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the...
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January 17, 2017, 08:00 AM
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AlixPartners, the global advisory firm, released the results of its 11th Annual North American Restructuring Experts Survey. This year’s survey, which represents the opinions of 207 senior-level restructuring experts, indicates there will likely be...
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January 10, 2017, 07:50 AM
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BankruptcyData, a service provided by New Generation Research, Inc. (NGR) released its annual bankruptcy report. The yearly report analyzes trends associated with U.S. Bankruptcy Court activity. In 2016, declining bankruptcy trends reversed...
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January 09, 2017, 07:45 AM
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Total commercial filings during calendar year 2016 (Jan. 1-Dec. 31) were 37,771, a 26 percent increase from the 29,920 filings for 2015, according to data provided by Epiq Systems, Inc. There were 5,438 commercial chapter 11s filings during calendar...
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January 06, 2017, 07:42 AM
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Peabody Energy today announced that as of 5:00 p.m., New York City time, on Dec. 30, 2016, additional eligible holders of approximately 16.6 percent of the outstanding principal amount of the company's senior secured second lien notes and...
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January 03, 2017, 08:00 AM
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LENSAR, Inc. (LENSAR), a global leader in next generation femtosecond laser technology for refractive cataract surgery, announced the filing of a Chapter 11 bankruptcy petition on December 19, 2016 to reduce its debt, strengthen its balance sheet and...
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December 21, 2016, 07:00 AM
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Basic Energy Services, Inc.announced that the Company and its affiliated Chapter 11 debtors obtained court approval of their prepackaged restructuring and recapitalization plan (the "Prepackaged Plan"), which received near unanimous support from...
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December 12, 2016, 07:57 AM
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Erickson Incorporated, a leading global provider of aviation services, today announced the commencement of a process to syndicate participation in a debtor-in-possession term loan facility (the “DIP Term Facility”) by eligible beneficial holders of...
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December 09, 2016, 07:42 AM
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Performance Sports Group Ltd., a leading developer and manufacturer of high performance sports equipment and apparel, announced that the United States Bankruptcy Court for the District of Delaware and the Ontario Superior Court of Justice (together...
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December 01, 2016, 07:53 AM
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Leading global professional services firm Alvarez & Marsal (A&M) has expanded its North American Commercial Restructuring team with the addition of Mark Greenberg, who joins the firm’s Unsecured Creditors’ Committee practice as a Managing Director....
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November 18, 2016, 07:31 AM
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Stanley W. Mastil, CFF, CPA, has been promoted to Senior Director, Bankruptcy & Fiduciary Services at Gavin/Solmonese. Mastil has more than 20 years of experience advising on bankruptcy matters including Chapter 11 reorganizations, Chapters 7 and 11...
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November 09, 2016, 07:32 AM
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Arch Coal, Inc. announced that it has successfully completed its financial restructuring and emerged from court protection, with new equity that will trade on the New York Stock Exchange under the ticker symbol ARCH.“Today marks the beginning of a...
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October 06, 2016, 07:06 AM
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Bloomberg reports that Golfsmith International Holdings Inc. filed for bankruptcy, hoping to reorganize or attract a buyer who can save the golf-gear retailer as the sport’s popularity fades in North America.According to the Bloomberg report...
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September 15, 2016, 07:05 AM
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Bloomberg reports that Aeropostale Inc. settled a dispute with lenders that threatened to scuttle a potential bid from a Versa Capital Management unit to buy the teen-clothing chain out of bankruptcy.Versa Capital Fund III is working with Aeropostale...
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August 09, 2016, 07:24 AM
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Reuters reports that bankrupt teen retailer Aeropostale filed a motion against its lender, private equity firm Sycamore Partners, in bankruptcy court late on Friday, accusing it of plotting a "loan to own” scheme to push the chain into...
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July 25, 2016, 07:54 AM
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Reuters reported Gawker Media LLC won approval from a U.S. bankruptcy court judge on Thursday to begin a process to sell itself, allowing the online publishing pioneer to begin an auction that is expected to attract several bidders. Gawker filed for...
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July 08, 2016, 07:43 AM
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Arch Coal, Inc. secured a global settlement with certain of its senior secured lenders that hold more than 66 2/3% of its first lien term loan and the Official Committee of Unsecured Creditors (the "UCC"). The company has filed an amended Plan of...
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July 06, 2016, 07:38 AM
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Verso Corporation completed another important step toward its emergence from bankruptcy when its Chapter 11 plan of reorganization was confirmed by the U.S. Bankruptcy Court in the District of Delaware. This confirmation, which comes less than five...
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June 24, 2016, 07:27 AM
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Pacific Exploration & Production Corporation announced the successful closing of a debtor-in-possession financing in the amount of U.S.$500 million (the "DIP Financing"), less applicable fees and charges, with: (i) certain holders of the Company's...
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June 22, 2016, 07:24 AM
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Arch Coal, Inc. has filed an amended Plan of Reorganization (the "Plan") and a related Disclosure Statement with the United States Bankruptcy Court for the Eastern District of Missouri. The Plan is supported by certain of the company's senior secured...
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June 15, 2016, 07:46 AM
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Aéropostale, Inc., a specialty retailer of casual apparel for young women and men, today announced that the United States Bankruptcy Court for the Southern District of New York has given final approval for the Company to access $160 million in debtor...
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June 13, 2016, 11:49 AM
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Total U.S. commercial bankruptcy filings increased 32 percent in May 2016 over May of last year, according to data provided by Epiq Systems, Inc. Commercial filings totaled 3,358 in May 2016, up from the May 2015 total of 2,550. May is the seventh...
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June 03, 2016, 07:43 AM
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On May 13, 2016, the U.S. Bankruptcy Court, District of Delaware, authorized the retention of PMCM, LLC to provide Michael E. Jacoby as Chief Restructuring Officer, and to coordinate efforts and market the assets of AF-Southeast, LLC, Allied Fiber --...
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June 01, 2016, 07:45 AM
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Cedar Croft Consulting, a management consulting established to assist mid-market clients in the manufacturing, distribution, retail and service provider industry sectors located throughout North America, provides value-added services including due...
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May 26, 2016, 07:18 AM
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The joint venture of Gordon Brothers Group, Hilco Merchant Resources, and Tiger Capital Group, announced today that they will commence going-out-of-business sales at all Sports Authority retail locations beginning Thursday, May 26th. The joint...
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May 25, 2016, 07:44 AM
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Debtor-in-possession (DIP) financings are frequently being left out of the equation for the current crop of bankrupt energy firms as many opt for pre-negotiated bankruptcy plans to speed up the restructuring process and rely on cash, according to...
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May 24, 2016, 07:39 AM
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SSG Capital Advisors acted as the investment banker to Mid-States Supply Company, Inc. in the sale of substantially all of its assets to an affiliate of Staple Street Capital. The sale was effectuated through a Chapter 11 Section 363 process in the...
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May 20, 2016, 07:31 AM
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Breitburn Energy Partners LP announced that it and certain of its affiliates filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York...
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May 16, 2016, 07:39 AM
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LeClairRyan has announced the addition of eight attorneys and seven professional staff to its Newark office. Joining the national law firm's Bankruptcy and Creditors' Rights practice as partners are Charles Forman, Michael Holt, Daniel Eliades, Erin...
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May 12, 2016, 07:28 AM
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Total U.S. commercial bankruptcy filings increased 32 percent in April 2016 over April of last year, according to data provided by Epiq Systems, Inc. Commercial filings totaled 3,482 in April 2016, up from the April 2015 total of 2,641. April is the...
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May 05, 2016, 08:02 AM
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Aéropostale, Inc. took the next steps in its ongoing business transformation by filing voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The Company expects...
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May 04, 2016, 08:06 AM
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BIND Therapeutics, Inc., a biotechnology company developing targeted and programmable therapeutics called ACCURINS®, today announced that it has elected to file a voluntary petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court...
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May 02, 2016, 07:38 AM
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SSG Capital Advisors, LLC acted as the investment banker to Edgmont Golf Club, Inc. and Edgmont Country Club (collectively, "Edgmont", the "Property" or the "Club") in the placement of exit financing and in the sale of substantially all of its assets...
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April 28, 2016, 07:11 AM
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Blackhill Partners, an investment bank specializing in complex situations, has completed the reorganization of RAAM Global Energy Company, guiding the company through a pre-negotiated chapter 11 bankruptcy in under 100 days. RAAM engaged Blackhill...
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April 27, 2016, 07:33 AM
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SunEdison, Inc. announced that it has commenced a process to restructure its balance sheet and position the Company for the future. To facilitate this restructuring, SunEdison and certain of its domestic and international subsidiaries have filed...
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April 22, 2016, 08:14 AM
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Magnum Hunter Resources Corporation and certain of its wholly-owned subsidiaries announced that the Bankruptcy Court for the District of Delaware has confirmed Magnum Hunter's chapter 11 plan of reorganization. Confirmation of Magnum Hunter's chapter...
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April 21, 2016, 07:38 AM
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Goodrich Petroleum Corporation announced that it and its subsidiary has filed for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division, in order to implement...
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April 18, 2016, 07:28 AM
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Peabody Energy Corporation announced that first day motions to help facilitate continued operations in the ordinary course of business while the company operates under Chapter 11 protection were approved by Judge Barry S. Schermer of the U.S....
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April 15, 2016, 07:38 AM
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Total U.S. bankruptcy filings fell 5 percent in the first calendar quarter (Jan. 1 - March 31) of 2016 from the same period in 2015, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 195,565 in the first quarter of 2016...
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April 08, 2016, 07:47 AM
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PacSun announced that it and all of its subsidiaries have entered into a restructuring support agreement (the "RSA") with affiliates of Golden Gate Capital, the holder of its secured term loan provider under the Company's financing facilities. In...
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April 07, 2016, 08:04 AM
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A motion was filed last week with the U.S. Bankruptcy Court, Western District of New York, to retain Phoenix Capital Resources as the exclusive investment banker in conjunction with the potential sale of the assets of Flour City Bagels, LLC, and its...
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March 15, 2016, 07:38 AM
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Relativity Media announced that it has filed the necessary documents and believes it has met the conditions required by Judge Wiles of the United States Bankruptcy Court for the Southern District of New York for the company to emerge from Chapter...
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March 14, 2016, 07:39 AM
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Buffets, LLC, comprised of Ryan's®, Fire Mountain®, Country Buffet®, Old Country Buffet®, Tahoe Joe's Famous Steakhouse® and Hometown Buffet®, is set to file Chapter 11 bankruptcy so that it can restructure its debts and liabilities, strengthen its...
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March 08, 2016, 08:09 AM
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Palmaz Scientific, Inc. announced that the Company filed for Chapter 11 protection in San Antonio to provide adequate time to identify and evaluate prospective buyers for its innovative metallurgical medical device technology.Dr. Julio Palmaz and...
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March 07, 2016, 07:33 AM
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Paragon Offshore announced that the company and certain of its subsidiaries have elected to commence proceedings under Chapter 11 of the United States Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court in the District of Delaware....
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February 16, 2016, 07:53 AM
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Hancock Fabrics, Inc., a leading retailer in fabric, sewing and accessories, announced that it and its wholly-owned subsidiaries have filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code. The Company filed the...
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February 03, 2016, 07:40 AM
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Joyce Leslie, Inc. announced that it had filed a motion on January 14th for court approval to set bid procedures and an auction date for a sale of most of its assets. Joyce Leslie, Inc. (the "Company") had previously announced that it had filed a...
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January 19, 2016, 07:44 AM
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Akerman LLP, a top 100 U.S. law firm serving clients across the Americas, announced the continued expansion of its Dallas office with partners John Mitchell and David Parham. They join Akerman's Bankruptcy & Reorganization Practice Group from Baker &...
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January 18, 2016, 07:23 AM
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Total bankruptcy filings totaled 819,240 nationwide for calendar year 2015 (Jan. 1-Dec. 31), a 10 percent decrease from the 910,397 total filings during the same period a year ago, according to data provided by Epiq Systems, Inc. The 789,222 total...
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January 11, 2016, 07:37 AM
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Total bankruptcy filings totaled 819,240 nationwide for calendar year 2015 (Jan. 1-Dec. 31), a 10 percent decrease from the 910,397 total filings during the same period a year ago, according to data provided by Epiq Systems, Inc. The 789,222 total...
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January 08, 2016, 07:11 AM
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Bloomberg reports KaloBios Pharmaceuticals Inc., which Martin Shkreli rescued from liquidation last month, filed for bankruptcy after Shkreli's arrest knocked the biotechnology company’s brief revival off course.The Bloomberg article notes KaloBios...
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December 30, 2015, 08:05 AM
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Total bankruptcy filings in the United States increased 5 percent in November 2015 from November of last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 65,511 in November 2015, up from the November 2014 total of...
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December 04, 2015, 07:38 AM
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Energy and Exploration Partners, Inc. announced that on the evening of November 25, 2015, certain unsecured creditors filed an involuntary bankruptcy petition in the United States Bankruptcy Court for the Northern District of Texas against one of the...
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November 30, 2015, 07:26 AM
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The Pittsburgh Post-Gazette reported that about a month after Magnum Hunter Resources Corp. said it had hired advisers to help boost the struggling company’s financial position, the oil and gas producer warned that it may be heading toward bankruptcy...
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November 13, 2015, 07:28 AM
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Colt Defense LLC announced the approval of the Disclosure Statement for its Second Amended Plan of Reorganization (“the Plan”) by the U.S. Bankruptcy Court for the District of Delaware. The completion of this important milestone in Colt’s Chapter 11...
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November 12, 2015, 07:10 AM
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American Apparel reached a restructuring support agreement with 95% of its secured lenders to implement a pre-arranged financial restructuring. This reorganization will enable the Company to implement a comprehensive transformation strategy to...
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October 05, 2015, 08:03 AM
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Quiksilver, Inc. announced that the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) has approved a variety of First Day Motions related to its voluntary chapter 11 restructuring. Collectively, the orders granted...
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September 11, 2015, 07:36 AM
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Coyne International Enterprises Corp. is progressing in its Chapter 11 case filed in the U.S. Bankruptcy Court for the Northern District of New York in Syracuse on July 31, 2015, and remains on track to complete three planned sales of its operating...
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September 09, 2015, 07:12 AM
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Reuters reported gun maker Colt Defense and its creditors are close to a deal on a plan to bring the company out of bankruptcy, but if it fails, the business will go on the auction block next month, a company lawyer told a judge on Thursday.According...
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September 04, 2015, 07:38 AM
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Bloomberg reports Caesars Entertainment Corp. won a court ruling that gives it breathing room to try to negotiate an end to a bondholder lawsuit that could force the gambling company into bankruptcy alongside its main operating unit.A federal judge...
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August 28, 2015, 07:20 AM
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Hercules Offshore, Inc. has filed a pre-packaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code to continue its financial restructuring of the company. The company anticipates that, among other things, it will receive court...
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August 14, 2015, 07:25 AM
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Filmed Entertainment Inc. announced that the Company has filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code to pursue an orderly sale of its Columbia House DVD Club business, a direct-to-customer distributor of movies and...
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August 11, 2015, 08:08 AM
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Coyne International Enterprises Corp., a leading U.S. commercial laundry service company (Coyne), filed for relief under chapter 11 of the Bankruptcy Code Friday in the United States Bankruptcy Court for the Northern District of New York in...
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August 04, 2015, 07:45 AM
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Carl Marks Securities LLC acted as investment banker and exclusive financial advisor to American Bancorporation in the sale of substantially all of its assets pursuant to §363 of the U.S. Bankruptcy Code. The sale of the assets of the...
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July 31, 2015, 07:40 AM
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Patriot Coal Corporation, a producer and marketer of coal in the eastern United States, has filed with the Bankruptcy Court a letter of intent for a proposed sale of a substantial majority of its operating assets to Blackhawk Mining, LLC, as well as...
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June 03, 2015, 07:49 AM
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Patriot Coal Corporation, a producer and marketer of coal in the eastern United States, announced that it is engaged in active negotiations for the sale of substantially all of the company's operating assets to a strategic partner. The company is...
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May 13, 2015, 07:33 AM
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Exide Technologies, a global leader in stored electrical-energy solutions, announced that its Plan of Reorganization became effective today and that the company has emerged from Chapter 11 as a newly reorganized company. As previously announced, the...
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May 01, 2015, 07:56 AM
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The Wall Street Journal reported Frederick’s of Hollywood filed for bankruptcy protection Sunday with a $22.5 million offer in hand from Authentic Brands Group, LLC. Stores that weren't liquidated earlier this year shut down suddenly last week as...
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April 20, 2015, 07:29 AM
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SSG Capital Advisors, LLC ("SSG") acted as the investment banker and financial advisor to Seegrid Corporation ("Seegrid" or the "Company") in the restructuring of Seegrid's multiple tranches of secured and unsecured debt pursuant to a Chapter 11 Plan...
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March 17, 2015, 07:00 AM
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Reuters reported a U.S. Bankruptcy Court judge rejected Revel Casino's agreement for a sale to a Florida developer for $82 million, marking the third failed deal for the shuttered hotel.According to the Reuters report, Judge Gloria Burns in Camden...
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March 16, 2015, 07:13 AM
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Cal Dive International, Inc. and its U.S. subsidiaries have filed simultaneous voluntary petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under the provisions of Chapter 11 of the U.S. Bankruptcy Code. The...
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March 04, 2015, 08:06 AM
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Bloomberg reports RadioShack Corp. spent an emergency loan on fees and other payments to favored lenders in what creditors said was a departure from a judge’s orders.The judge overseeing the bankruptcy approved RadioShack’s borrowing of $10 million...
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February 25, 2015, 07:53 AM
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SSG Capital Advisors acted as the investment banker to US Bentonite, Inc., Rock Springs Mineral Processing, Rock Springs Properties, Inc. and Bucknum Properties, Inc. (collectively "US Bentonite" or the "Company") in the sale of substantially all of...
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January 19, 2015, 08:00 AM
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The Wet Seal, a specialty retailer to young women, announced that it has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy...
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January 16, 2015, 07:23 AM
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Body Central Corp., the struggling women’s clothing retailer, said lender Crystal Financial LLC has terminated its $17 million credit line, dealing another blow to a company that’s already exploring bankruptcy according to a Bloomberg news story. The...
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January 12, 2015, 07:38 AM
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Exide Technologies announced that certain holders of its senior secured notes (the "Backstop Parties") have executed a commitment to backstop (the "Backstop Commitment Agreement") up to $160 million of second lien convertible notes to be offered to...
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January 08, 2015, 07:10 AM
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UniTek Global Services, Inc. announced today that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company's Plan of Reorganization. The Company has set mid-January, 2015 for the effective date of the Plan of Reorganization...
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January 07, 2015, 07:38 AM
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The Wall Street Journal reported a bankruptcy judge on Tuesday approved a $26 million tax settlement between Atlantic City, N.J., and the boardwalk’s shuttered Revel Casino Hotel. The settlement, which includes more than $7 million in savings on...
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December 31, 2014, 08:00 AM
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Lee N. Katz, principal of GlassRatner Advisory & Capital Group LLC, has been elected as Chief Restructuring Officer of Green Mountain Management LLC and Georgia Flattop Partners LLC. Green Mountain Management LLC, along with its affiliate, filed a...
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December 22, 2014, 07:44 AM
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On Dec. 12, Bloomberg reported Caesars Entertainment Corp. highest-ranked lenders spurned the casino company’s efforts to restructure its most indebted unit, imperiling tentative agreements reached over three months of talks with a broader group of...
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December 15, 2014, 07:35 AM
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Exide Technologies entered into an amended and restated plan support agreement ("Amended PSA") with holders of a majority of the principal amount of Exide's senior secured notes.The Amended PSA allows Exide additional time to negotiate the terms of a...
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December 12, 2014, 07:13 AM
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Heritage Equity Partners announced that it acted as the investment banker to Gaspari Nutrition, Inc. in the recently approved sale of substantially all of its assets to a subsidiary of Total Produce, Allegro Nutrition. The sale was effectuated...
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December 08, 2014, 07:23 AM
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Reuters reports that according to court documents, the Deb Shops retail chain filed its second bankruptcy in less than four years on Dec. 4 and said it may conduct a going-out-of-business sale at its 295 stores that specialize in teen and young women...
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December 05, 2014, 08:06 AM
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Exide Technologies has received all necessary approvals from its lenders, thereby extending its debtor-in-possession (DIP) credit facility's maturity date to March 31, 2015, subject to the terms and conditions thereof. The extension provides Exide...
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October 10, 2014, 07:35 AM
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GT Advanced Technologies Inc. announced that it had, together with certain of its direct and indirect subsidiaries (collectively, GT), commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the...
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October 07, 2014, 07:08 AM
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Bloomberg reports Brookfield Property Partners LP, the winning bidder for the shuttered Revel casino and hotel in Atlantic City, said it plans to reopen the property as it expands its investments in gambling venues.The Bloomberg article notes...
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October 02, 2014, 07:41 AM
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Exide Technologies is seeking approval from its lenders for an extension of its debtor-in-possession (DIP) credit facility's maturity date to March 31, 2015. This extension would provide Exide additional time to complete negotiations with its...
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October 01, 2014, 07:17 AM
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Siena Lending Group LLC announced the completion of a $15.0 million revolving credit facility for Pacific Steel Casting Company, LLC (“Pacific”). The facility was used to fund the acquisition of Pacific Steel Casting Company by Speyside Equity out of...
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September 15, 2014, 07:38 AM
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Reuters reports that troubled electronics retailer RadioShack Corp, is being advised by a restructuring attorney at law firm Jones Day as it tries to strike a deal with creditors to close stores while averting bankruptcy.Citing people close to the...
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September 11, 2014, 07:07 AM
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Reuters reports a U.S. bankruptcy court judge ruled on Tuesday that senior bondholders of bankrupt Momentive Perfomance Materials cannot change their votes to accept the quartz and silicone maker's proposed restructuring.Knocking down what he viewed...
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September 10, 2014, 07:31 AM
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Bloomberg reports Revel, the bankrupt Atlantic City casino, will close its doors next month after failing to find a qualified buyer, dealing the latest blow to the struggling New Jersey resort town. The two-year-old facility, built for $2.6 billion...
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August 13, 2014, 07:03 AM
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According to Bloomberg, LightSquared Inc. has filed a reorganization plan that offers new treatment to Dish Network Corp. (DISH) Chairman Charles Ergen’s $1 billion in debt, in a bid to resolve a protracted legal fight. The Bloomberg report says a...
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August 11, 2014, 07:45 AM
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Editor's Note: This news posting is a detailed update to the original news story posted on August 7, 2014.
Eagle Bulk Shipping Inc. ("Eagle Bulk" or "the Company")announced that it has entered into a Restructuring Support Agreement ("RSA") with...
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August 08, 2014, 06:50 AM
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Crumbs Bake Shop, a New York-based cupcake specialty store chain, announced that the U.S. Bankruptcy Court for the District of New Jersey has approved all of the First Day Motions related to its voluntary Chapter 11 process initiated July 11, 2014...
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July 21, 2014, 08:04 AM
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M*Modal, a leading provider of clinical documentation and Speech Understanding™ solutions, announced that it expects to emerge from Chapter 11 within three weeks following a recent confirmation of the company's Plan of Reorganization by the U.S....
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July 17, 2014, 07:13 AM
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SSG Capital Advisors, LLC acted as the investment banker to Cooper-Booth Wholesale Company, L.P., Cooper-Booth Transportation Company, L.P. and Cooper-Booth Management Company, Inc. (collectively, "CBW" or the "company") in the placement of an exit...
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July 11, 2014, 07:39 AM
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Genco Shipping & Trading Limited announced that the U.S. Bankruptcy Court for the Southern District of New York (the "Court") confirmed its Prepackaged Plan of Reorganization (the "Plan"). Upon completion of the restructuring process, the Plan will...
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July 07, 2014, 08:06 AM
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American Stock Transfer & Trust Company, LLC (AST) announced that its affiliate, AST Fund Solutions, LLC, has completed its purchase of Donlin, Recano & Company, Inc. (Donlin Recano). The company offers leading bankruptcy claims administration and...
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June 27, 2014, 07:17 AM
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Reuters reports that Atlantic City's troubled Revel Casino Hotel on Jun. 19 filed its second bankruptcy in just over a year and said it is hunting for a buyer.The casino, which had gone through Chapter 11 bankruptcy in March 2013, warned employees...
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June 20, 2014, 07:11 AM
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The Dolan Company and its subsidiaries (collectively, the “Company”) announced that they have emerged from chapter 11 only 81 days after voluntarily filing for bankruptcy protection. As previously announced, the United States Bankruptcy Court for the...
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June 13, 2014, 07:09 AM
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The Dolan Company and its subsidiaries announced today that the United States Bankruptcy Court for the District of Delaware (the “Court”) has confirmed their prepackaged chapter 11 plan of reorganization. Confirmation of the plan of reorganization is...
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June 10, 2014, 07:14 AM
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Bloomberg reported Energy Future Holdings Corp. won U.S. bankruptcy court approval of a $5.4 billion loan it plans to use to repay senior creditors of its regulated electricity-transmission unit.The Bloomberg article notes that U.S. Bankruptcy Judge...
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June 09, 2014, 07:08 AM
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Reuters reports that a lender call was scheduled to market an alternative $1.9 billion second-lien debtor-in-possession (DIP) financing for Energy Future Intermediate Holdings (EFIH), a subsidiary that owns the regulated business for bankrupt power...
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May 30, 2014, 07:23 AM
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GA Keen Realty Advisors, the real estate division of Great American Group, has been retained, subject to bankruptcy court approval, by women's clothing retailer Coldwater Creek Inc. to market and auction 363+/- valuable retail leases located...
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May 30, 2014, 07:14 AM
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Momentive Performance Materials Inc. (MPM or the Company) announced that the U.S. Bankruptcy Court for the Southern District of New York has granted MPM final authorization to access the full amount its $570 million in committed debtor-in-possession...
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May 27, 2014, 07:44 AM
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Bloomberg reports that Energy Future Holdings Corp., the bankrupt Texas power provider, agreed to delay until June 30 a court fight over a restructuring agreement it struck with some creditors before filing for bankruptcy.After negotiating with...
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May 23, 2014, 07:36 AM
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Tradex Global Advisors, LLC, an alternative asset management company, announced that Dr. Ed Altman has joined the high yield team at Tradex in an alliance to help execute the firm's Short-Biased High Yield strategy. Dr. Altman is the Max L. Heine...
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May 21, 2014, 07:24 AM
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Hilco Streambank successfully completed the Chapter 11 auction of the Dots intellectual property assets. The Dots.com domain name was sold separately for $335,000 to an individual entrepreneur. The remainder of the package was sold to a Florida...
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May 15, 2014, 07:35 AM
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Universal Cooperatives, Inc. and its domestic subsidiaries have filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Delaware for the purpose of maximizing value through the sale of ongoing businesses...
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May 12, 2014, 07:31 AM
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Energy Future Holdings (EFH) announced that the U.S. Bankruptcy Court for the District of Delaware has granted the relief requested by the company in key first day motions it filed in conjunction with its voluntary petitions for reorganization under...
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May 05, 2014, 07:34 AM
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SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Skinny Nutritional Corporation ("Skinny" or the "Company") in the sale of substantially all of its assets to Skinny Nutritional LLC. The sale was effectuated through a Chapter 11...
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May 02, 2014, 07:31 AM
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Business Capital has secured an $8.5 Million D.I.P loan for Pacific Steel Casting (PSC), one of the largest independent steel casting companies in the U.S. that makes carbon, low-alloy and stainless steel castings for U.S. and international customers...
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April 22, 2014, 07:13 AM
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TelexFREE LLC announced that it and certain of its subsidiaries and affiliates filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code, in an effort to address certain operational challenges. The petitions were filed in the...
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April 14, 2014, 07:42 AM
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Coldwater Creek Inc. announced that the company and all of its U.S. subsidiaries have filed voluntary petitions under Chapter 11 in the U.S. Bankruptcy Court in Wilmington, Delaware, in order to facilitate an orderly wind-down of its...
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April 11, 2014, 07:54 AM
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Innovative product development company and multi-channel lifestyle retailer Brookstone, Inc. announced that it has filed for relief under Chapter 11 in the United States Bankruptcy Court ("Court") for the District of Delaware and has entered into a...
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April 04, 2014, 07:29 AM
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Cengage Learning, Inc., a leading global educational content, technology and services company for the higher education and K-12, professional and library markets, announced that it has emerged from Chapter 11, having completed its financial...
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April 02, 2014, 07:03 AM
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Brookstone, Inc. announced that it is working toward an agreement with Spencer Spirit Holdings to acquire the company. In order to facilitate the sale, the company, with the support of holders of its outstanding bonds, is contemplating filing a...
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March 28, 2014, 07:09 AM
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Global Geophysical Services, Inc. announced it and certain of its domestic subsidiaries have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Corpus...
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March 26, 2014, 07:16 AM
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Quantum Foods, LLC, a leading independent custom provider of value-added proteins, announced that it has received bankruptcy court approval of its entry into a fully-executed Asset Purchase Agreement with Raging Bull Acquisition Company LLC. The...
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March 20, 2014, 07:24 AM
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M*Modal, a leading provider of cloud-based clinical documentation and Speech Understanding solutions, announced it has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the...
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March 20, 2014, 07:17 AM
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Quiznos, one of the nation's premier quick-service restaurant chains and pioneer of the toasted sub, announced that the U.S. Bankruptcy Court in Wilmington, Delaware (the "Court") granted the Company's request for certain "first day" orders that help...
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March 18, 2014, 07:32 AM
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Quiznos announced that its senior lenders have voted overwhelmingly in favor of a "pre-packaged" restructuring plan that will reduce the company's debt by more than $400 million. The plan is intended to increase the company's flexibility as it...
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March 17, 2014, 07:39 AM
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Bloomberg reports Sbarro LLC, the 800-restaurant U.S. pizza chain, filed for bankruptcy protection for the second time in three years as customer traffic slowed in the shopping-mall food courts where many of its stores do business.
The company...
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March 11, 2014, 07:46 AM
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Two potential bankruptcies are a warning sign of financial distress among restaurant chains, according to Fitch Ratings. Fitch does not view them as portending a widespread increase in bankruptcies of U.S. restaurants but a reflection of difficulties...
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March 10, 2014, 07:37 AM
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Manhattan District Attorney Cyrus R. Vance, Jr., announced the indictments of Steven Davis, Stephen DiCarmine, Joel Sanders, and Zachary Warren. The first three defendants were, respectively, the Chairman, the Executive Director, and the Chief...
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March 07, 2014, 07:37 AM
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Total bankruptcy filings in the United States decreased 12 percent in February over the same period last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 72,193 in February 2014, down 12 percent from the February 2013...
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March 06, 2014, 07:29 AM
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Sorenson Communications, Inc. announced it has reached an agreement with a substantial majority of its owners and second lien note holders on the terms of a comprehensive debt restructuring, a move that will significantly strengthen its balance sheet...
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March 03, 2014, 07:13 AM
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After over 25 years in business, Dots, LLC, an Ohio-based women’s fashion discount retailer, is closing its doors. The company filed for Chapter 11 protection on January 20, 2014. On February 27th, Gordon Brothers Group, a global advisory...
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February 28, 2014, 07:32 AM
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Restora Healthcare, an operator of two long-term acute care hospitals and skilled nursing facilities in Phoenix, announced it has filed for chapter 11 protection to recapitalize and reorganize its business. Restora’s secured lender, Healthcare...
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February 25, 2014, 07:36 AM
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Classic Party Rentals announced that the U.S. Bankruptcy Court for the District of Delaware has approved all of the First Day Motions related to its voluntary chapter 11 process initiated February 13, 2014. These motions collectively will enable the...
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February 21, 2014, 07:14 AM
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Morrison & Foerster announced Hon. James M. Peck will join the firm as co-chair of its global Business Restructuring & Insolvency Group, effective Mar. 3, 2014.
During his tenure as United States Bankruptcy Judge for the Southern District of New...
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February 20, 2014, 07:19 AM
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Fisker Automotive, Inc. and Fisker Automotive Holdings, Inc. (collectively, Fisker Automotive) announced that the company has obtained bankruptcy court approval of the sale of substantially all of its assets to Wanxiang America Corporation (Wanxiang)...
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February 19, 2014, 07:18 AM
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Classic Party Rentals (“Classic”), a leading event rental and services provider, announced that it is in the final stages of completing an agreement through which substantially all of the Company’s business of Event Rentals, Inc. and its subsidiaries...
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February 14, 2014, 07:33 AM
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Xtreme Power, a leader in integrated power management systems and energy storage solutions, won bankruptcy court approval on February 7 to eliminate a February deadline for bids and instituted a straight auction process in March. Horizon Technology...
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February 11, 2014, 07:36 AM
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Bloomberg reports Constar International Holdings LLC, a maker of plastic soda bottles, won bankruptcy court approval of three asset sales totaling about $113.6 million, including a sale of the majority of its assets to Plastipak Packaging Inc. for...
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February 11, 2014, 07:26 AM
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Total bankruptcy filings in the United States decreased 13 percent in January from the same period last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 68,153 in January 2014, down from the January 2013 total of...
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February 10, 2014, 07:29 AM
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Corporate bankruptcy activity has declined to an unprecedented and record-breaking low--despite pundit predictions. BankruptcyData.com’s research reveals that current corporate bankruptcy activity, or unprecedented lack thereof, just up-ended...
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February 07, 2014, 07:46 AM
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Patton Boggs LLP has added leading attorney Daniel C. Stewart to its bankruptcy and restructuring team in Dallas. Mr. Stewart brings more than four decades of bankruptcy law experience to Patton Boggs, where he plans to help the firm build a...
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January 29, 2014, 07:02 AM
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Bloomberg reported Fredericksburg, Virginia’s Free Lance-Star newspaper filed for bankruptcy, saying creditor Sandton Capital Partners LP pressed the company to enter court protection to sell its assets. According ot the report, Free Lance-Star...
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January 27, 2014, 06:00 AM
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Plextronics, Inc. announced it has filed a voluntary petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). Plextronics also filed a motion seeking authorization to pursue...
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January 20, 2014, 08:01 AM
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SSG Capital Advisors acted as the exclusive investment banker to MSD Performance, Inc. ("MSD" or the "Company") in the sale of substantially all of its assets to affiliates of Z Capital Partners, LLC ("Z Capital"). The sale was effectuated through a...
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January 15, 2014, 07:24 AM
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Rural/Metro Corporation, a national provider of private ambulance and fire protection services in 21 states and nearly 700 communities, announced its emergence from Chapter 11 as a reorganized company. "Today marks the successful completion of our...
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January 02, 2014, 07:46 AM
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Cengage Learning Inc. is requesting bankruptcy-court permission for $2 billion in loans that will finance the company's operations after it exits Chapter 11 bankruptcy.The textbook publisher said in documents filed in late December with the U.S....
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January 02, 2014, 07:19 AM
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PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. announced the closing of a $115 million senior secured financing facility for Gatehouse Media, LLC. Based in Fairport, N.Y., the company will use the funds to restructure existing...
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December 18, 2013, 08:06 AM
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Bloomberg reports Loehmann’s Holdings Inc., the New York-based seller of discounted designer goods operated by Whippoorwill Associates Inc., sought bankruptcy protection for a third time amid growing competition from discount chains.According to the...
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December 16, 2013, 07:19 AM
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Total bankruptcy filings in the U.S. for November 2013 decreased 15 percent compared to the previous year, according to data provided by Epiq Systems, Inc. November bankruptcy filings totaled 74,021, down from the 87,090 filings registered in...
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December 05, 2013, 07:41 AM
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GateHouse Media, Inc. and certain of its subsidiaries, comprising one of the largest publishers of locally based print and online media in the United States, have emerged from prepackaged chapter 11 bankruptcy proceedings in the United States...
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November 27, 2013, 07:59 AM
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Furniture Brands International announced that the United States Bankruptcy Court for the District of Delaware has declared an affiliate of KPS Capital Partners, LP ("KPS") as the winning bidder in the auction to acquire substantially all of the...
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November 25, 2013, 08:04 AM
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An auction of Furniture Brands International assets originally scheduled for Nov. 22 has been canceled due to a lack of bids. The U.S. Bankruptcy Court for the District of Delaware announced late Wednesday that no other qualified bids were received...
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November 21, 2013, 07:31 AM
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Global Aviation Holdings, Inc., the largest commercial provider of charter air services to the U.S. military and a major provider of worldwide commercial global passenger and cargo air transportation services, today announced that the Company and its...
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November 12, 2013, 07:29 AM
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A bankruptcy judge cleared creditors of Michigan honey supplier Groeb Farms Inc. to vote on the company's restructuring plan, which would see it emerge from Chapter 11 protection under the ownership of a private equity firm.At a court hearing Friday...
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November 12, 2013, 07:17 AM
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Patriot Coal Corporation announced that the Bankruptcy Court for the Eastern District of Missouri has confirmed that thecompany's Disclosure Statement contains the information necessary to enable creditors to vote on the company's Plan of...
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November 07, 2013, 07:15 AM
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Total U.S. bankruptcy filings for the month of October increased 11 percent compared to September, according to data provided by Epiq Systems, Inc. October bankruptcy filings totaled 89,875, up from the 80,668 filings registered in September 2013....
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November 06, 2013, 07:31 AM
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Hospitality Staffing Solutions, LLC (HSS), a leading provider of outsourced staffing solutions for the hospitality industry, has reached agreement to enter into an asset purchase agreement with HS Solutions Corporation, an entity formed by LJC...
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October 25, 2013, 07:28 AM
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SSG Capital Advisors, LLC acted as the exclusive investment banker to Stacy's, Inc. ("Stacy's" or the "Company") in the sale of substantially all of its assets to an affiliate of Metrolina Greenhouses, Inc. ("Metrolina Greenhouses"). The sale was...
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October 16, 2013, 07:07 AM
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Savient Pharmaceuticals, Inc. has elected to file voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the "Court").
Savient also filed a motion seeking authorization to pursue a sale...
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October 15, 2013, 08:03 AM
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GateHouse Media, Inc. announced it has commenced voluntary chapter 11 bankruptcy proceedings in the United States Bankruptcy Court for the District of Delaware. Concurrently with the bankruptcy filing, GateHouse filed and requested confirmation of a...
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September 27, 2013, 08:01 AM
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Reuters reported Ecotality Inc, a maker of charging stations for electric cars that won a $99.8 million grant from the U.S. Department of Energy four years ago, has filed for bankruptcy and said it plans to auction its assets next month. The report...
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September 18, 2013, 07:42 AM
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Bloomberg reported FriendFinder Networks Inc., the owner of Penthouse magazine, sought bankruptcy protection in Delaware after reporting losses in seven consecutive years to 2012. According to the report, the Florida-based company listed assets of...
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September 17, 2013, 07:00 AM
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Furniture Brands International announced that the First Day motions filed on September 9, 2013 relating to the company's voluntary Chapter 11 restructuring process were approved yesterday by the U.S. Bankruptcy Court for the District of Delaware, the...
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September 13, 2013, 07:59 AM
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Patriot Coal Corporation announced that its debtor-in-possession financing has been extended to December 31, 2013. In a previous release from Jul. 2012, the company announced that the Bankruptcy Court for the Southern District of New York granted...
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September 12, 2013, 07:12 AM
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Furniture Brands International and certain of its wholly-owned subsidiaries (collectively, Furniture Brands), announced it has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of...
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September 10, 2013, 08:04 AM
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Total bankruptcy filings in the United States for August 2013 decreased 15 percent compared to the previous year, according to data provided by Epiq Systems, Inc. August bankruptcy filings totaled 88,902, down from the 104,471 filings registered in...
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September 06, 2013, 08:03 AM
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Rotech Healthcare Inc. announced today that the U.S. Bankruptcy Court has approved the Second Amended Joint Plan of Reorganization of Rotech Healthcare Inc., along with $358 million of exit financing commitments received from Wells Fargo and certain...
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August 30, 2013, 07:57 AM
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Reuters reported that public labor unions in Detroit asked a U.S. court to toss the city's bid for protection from its creditors because it is constitutionally flawed on both the state and federal levels.According to the Reuters report, a union that...
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August 20, 2013, 07:19 AM
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Reuters reported Detroit's public-employee pension funds, bondholders, bond insurers, vendors, retirees and others expected to oppose the city's bankruptcy filing have until the end of the day today to file objections in U.S. Bankruptcy Court....
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August 19, 2013, 07:14 AM
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Total bankruptcy filings in the United States for July 2013 decreased 10 percent compared to the previous year, according to data provided by Epiq Systems, Inc. July bankruptcy filings totaled 87,684, down from the 97,287 filings registered in July...
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August 06, 2013, 07:38 AM
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Global Axcess Corp. a leading provider of ATM services and DVD self-service kiosks, announced today that it entered into as Asset Purchase Agreement with a "stalking horse bidder," Financial Consulting & Trading International, Inc., a wholly owned...
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August 05, 2013, 02:25 PM
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Rural/Metro Corporation, a national provider of private ambulance and fire protection services in 21 states and nearly 700 communities, has reached an agreement-in-principle on a comprehensive financial restructuring plan that will strengthen the...
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August 05, 2013, 08:01 AM
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Exide Technologies reported today that it has received final Bankruptcy Court approval of its $500 million debtor-in-possession (DIP) financing provided by JP Morgan Chase and a group of lenders to whom the DIP financing was syndicated.On June 10...
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July 25, 2013, 07:28 AM
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Reuters reported Detroit filed the largest municipal bankruptcy in U.S. history on Thursday, setting the stage for a costly court battle with creditors.According to the Reuters report, the bankruptcy, if approved by a federal judge, would force...
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July 19, 2013, 07:46 AM
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The Deloitte Corporate Restructuring Group (Deloitte CRG) within Deloitte Financial Advisory Services LLP served as financial and restructuring advisor to TC Global, Inc. (Tully's Coffee) throughout the bankruptcy process and during its sale of...
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July 09, 2013, 07:33 AM
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Wireless broadband communications company LightSquared is splitting its proposed $3 billion senior secured exit term loan into a $2 billion first-lien loan and $1 billion second-lien tranche, sources told Thomson Reuters LPC. The loan originally...
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July 08, 2013, 07:27 AM
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The Reader's Digest Association, Inc., the iconic multi-brand and multi-platform media company, announced on Jun.28 that the United States Bankruptcy Court for the Southern District of New York has confirmed its Plan of Reorganization and expects to...
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July 01, 2013, 07:52 AM
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Ahern Rentals, Inc. announced the company’s final emergence from Chapter 11 bankruptcy case. Ahern sought Chapter 11 protection on December 22, 2011, after it was unable to extend the maturity of its revolving credit facility. During the case, the...
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June 25, 2013, 07:28 AM
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Radiation Therapy Services Holdings announced that its wholly owned subsidiary, Radiation Therapy Services Inc., entered into a "stalking horse" investment agreement to acquire OnCure Holdings, Inc. (together with its subsidiaries, "OnCure") upon...
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June 25, 2013, 07:15 AM
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Exide Technologies announced that it has received U.S. Court approval of a variety of motions that will support the Company's operations as it proceeds with its restructuring, including interim approval of its $500 million Debtor-in-Possession (DIP)...
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June 12, 2013, 07:45 AM
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NE Opco Inc., the largest closely held envelope maker in North America, won court approval to borrow as much as $60 million of a bankruptcy loan to help fund operations.
U.S. Bankruptcy Judge Christopher Sontchi indicated at a hearing today in...
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June 12, 2013, 07:14 AM
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Exide Technologies filed a voluntary petition for reorganization pursuant to U.S. federal restructuring laws in order to facilitate the financial and operational restructuring necessary to strengthen its balance sheet and its business to position the...
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June 10, 2013, 08:04 AM
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Ahern Rentals announced its Second Amended Plan of Reorganization, as amended, was confirmed today by the U.S. Bankruptcy Court for the District of Nevada. The plan confirmation paves the way for the Company’s emergence from Chapter 11 bankruptcy...
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June 06, 2013, 07:54 AM
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iGPS Company LLC, operator and owner of the largest global pallet rental pool of lightweight, 100% recyclable plastic platforms with embedded RFID tags, today announced that it has reached an agreement for the sale of substantially all of its assets...
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June 05, 2013, 07:52 AM
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Otelco Inc. announced that it has emerged from bankruptcy and completed its balance sheet restructuring process, including an extension of its senior credit facility.“Today, we completed the actions necessary to implement the final steps of our...
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May 28, 2013, 07:41 AM
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Dow Jones Bankruptcy Review reports that after two years of budget cuts and further hits from the federal budget sequestration, officials at one of the nation's busiest bankruptcy courts say they are barely getting by on a bare-bones budget. The...
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May 24, 2013, 07:17 AM
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Law360 reported Ahern Rentals Inc. has asked a Nevada bankruptcy judge to sign off on a $415 million financing package from Jeffries Finance LLC that it plans to use to fund its Chapter 11 exit.According to the report, the equipment rental company...
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May 22, 2013, 07:47 AM
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Revel AC Inc., announced it has successfully completed its financial restructuring and emerged from Chapter 11 of the United States Bankruptcy Code. Through the restructuring plan, which has been approved by both the U.S. Bankruptcy Court for the...
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May 22, 2013, 07:23 AM
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Revel AC Inc. announced the U.S. Bankruptcy Court for the District of New Jersey (Camden) has confirmed Revel’s prepackaged plan of reorganization (the “Plan”) under Chapter 11 of the Bankruptcy Code. The Plan was unanimously accepted by creditors...
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May 14, 2013, 08:04 AM
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Geokinetics Inc. announced that the Company and its domestic subsidiaries have successfully emerged from chapter 11 protection and the Company's second modified joint plan of reorganization (the "Plan") has become effective. David J. Crowley, the...
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May 13, 2013, 08:03 AM
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Bloomberg reports AMR Corp., the airline merging with US Airways Group Inc., won court approval to borrow as much as $3.25 billion as it moves toward exiting bankruptcy.AMR, the parent of American Airlines, sought the financing to take advantage of...
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May 13, 2013, 07:24 AM
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Skinny Nutritional Corp. filed a voluntary Chapter 11 petition in the United States Bankruptcy Court for the Eastern District of Pennsylvania on May 3, 2013. The company, manufacturer of "Skinny Water" and other Skinny branded products, sought...
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May 13, 2013, 07:11 AM
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School Specialty, Inc. announced the U.S. Bankruptcy Court for the District of Delaware issued an order preliminarily approving the company's Disclosure Statement and authorized the company to begin soliciting approval for its Amended Joint Plan of...
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April 26, 2013, 07:34 AM
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Revel AC Inc. announced the US Bankruptcy Court for the District of New Jersey (Camden) has entered a final order to approve Revel’s approximate $250 million debtor-in-possession financing to help support and maintain its day-to-day operations...
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April 19, 2013, 08:09 AM
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The Scooter Store announced that it will move to transform its business model through the sale of substantially all of its assets under section 363 of the United States Bankruptcy Code. As part of these efforts, the company commenced a voluntary...
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April 16, 2013, 07:25 AM
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Powerwave Technologies has entered into a debtor in possession credit and security agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group. Under the agreement, P-Wave Holdings will make available to the company a multiple draw senior...
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April 15, 2013, 07:18 AM
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The U.S. Bankruptcy Court for the District of New Jersey has approved a $5 million financing agreement for five Connecticut nursing homes that will allow the facilities to continue providing quality patient care during their Chapter 11 reorganization...
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April 11, 2013, 07:08 AM
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Salus Capital Partners announced it has provided a $16 million debtor-in-possession (DIP) facility to Namco, LLC. Namco, LLC is a multi-channel home recreational products retailer and wholesaler with operations throughout the Northeastern and...
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March 29, 2013, 07:12 AM
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Acknowledging the time constraints that Revel AC Inc. faces to get its financial house in order in time for the summer season, U.S. Bankruptcy Judge Judith Wizmur on Wednesday approved a series of first-day motions by attorneys for the casino...
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March 28, 2013, 07:47 AM
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SSG Capital Advisors acted as the exclusive investment banker to Vivaro Corporation in the sale of substantially all of its assets to Next Angel, LLC. The sale was effectuated through a Chapter 11 Section 363 process and was approved by the...
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March 28, 2013, 07:25 AM
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AC Revel Inc., owner of the struggling Revel casino in Atlantic City, formally filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Camden Monday, as expected.
The prepackaged bankruptcy, with terms Revel's creditors have agreed to, is meant...
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March 26, 2013, 07:46 AM
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RDA Holding Co., parent company of The Reader's Digest Association, Inc., announced that it has obtained final Court approval of its $105 million debtor-in-possession financing agreement.The financing, which will be used in conjunction with cash...
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March 26, 2013, 07:25 AM
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Otelco Inc., a wireline telecommunication services provider in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia, announced that on March 24, 2013, the company filed voluntary petitions for reorganization under chapter...
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March 25, 2013, 07:47 AM
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Citrus Universal Healthcare announced the United States Bankruptcy Court for the Middle District of Florida has approved its offer to purchase the four operating entities of Universal Health Care Group, including all of Universal’s Medicare health...
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March 13, 2013, 07:28 AM
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The financial press reports that on Feb.27, a federal bankruptcy judge confirmed the plan that officially dissolved Dewey LeBoeuf, the once-venerable law firm that collapsed after financial problems led to an exodus of its partners.
Dewey’s...
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February 28, 2013, 07:30 AM
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A Delaware bankruptcy judge on Monday approved School Specialty Inc.'s new $155 million debtor-in-possession financing deal, a replacement package designed to give the insolvent educational supply company greater flexibility by taking out its private...
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February 27, 2013, 07:52 AM
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Ormet Corporation, a producer of primary aluminum, announced it has signed a definitive Asset Purchase Agreement with Smelter Acquisition, a portfolio company owned by private investment funds managed by Wayzata Investment Partners, in connection...
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February 26, 2013, 08:03 AM
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In the bankruptcy case of Ahern Rentals, a group of junior lenders have now presented their own plan for reorganization of the company’s $379.2 million of debt. The plan calls for the investment group made up of six investment funds to jointly take...
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February 25, 2013, 07:12 AM
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RDA Holding Co., parent company of The Reader's Digest Association, Inc., announced that it has obtained U.S. Court approval of a variety of motions that will support the company's operations as it proceeds with a financial restructuring supported by...
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February 21, 2013, 07:02 AM
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The Readers Digest Association is the latest company to file a second Chapter 11 bankruptcy petition, commonly referred to as a Chapter 22. The terms of a pre-negotiated restructuring agreement would provide full recoveries for holders of secured...
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February 20, 2013, 07:51 AM
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Revel AC Inc., the casino owner that New Jersey Governor Chris Christie bet on to revive Atlantic City, plans to file for a prepackaged bankruptcy that will reduce its debt burden by more than $1 billion.
Certain Revel lenders will provide about...
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February 20, 2013, 07:39 AM
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U.S. asset-based lending (ABL) facilities present in a defaulted issuer's capital structure demonstrated complete recoveries in a bankruptcy scenario, according to a new Fitch Ratings report.
Fitch reviewed 12 recent U.S. bankruptcies - five...
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January 30, 2013, 08:04 AM
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Hawker Beechcraft announced the key creditors voting in the company's solicitation process have overwhelmingly approved its proposed Joint Plan of Reorganization.
The company also announced that J.P. Morgan Securities and Credit Suisse Securities...
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January 28, 2013, 08:00 AM
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LodgeNet Interactive filed for bankruptcy protection with plans to be taken over by affiliates of Colony Capital, which will invest $60 million and work with DirecTV to provide on-demand movies to hotel rooms.
LodgeNet had about $292 million in...
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January 28, 2013, 07:06 AM
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Bloomberg reports THQ Inc., the bankrupt video-game maker, will be split up after winning court approval to sell most of its assets to multiple buyers for about $72 million, topping an offer that would have kept the company intact.
U.S. Bankruptcy...
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January 24, 2013, 07:28 AM
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Bloomberg reported that Atari SA’s U.S.-based video-game- making businesses have filed for bankruptcy protection in Manhattan with the intention of separating from the unprofitable French parent and seeking independent funding. According to the...
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January 21, 2013, 07:41 AM
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Handy Hardware Wholesale, a Houston-based company formed by independent retailers, filed for Chapter 11 bankruptcy. According to the filing, the company noted expansion into a second distribution center during recession times hurt its bottom...
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January 15, 2013, 08:02 AM
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The CFO of Houghton Mifflin Harcourt explains how the publishing giant purged its balance sheet of a debt load that was devouring its operating cash flow.
Houghton Mifflin Harcourt’s finance group overhauled its forecasting process in 2010...
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January 11, 2013, 07:19 AM
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Reuters reports the U.S. Justice Department wants a bankruptcy court to strip law firm Kaye Scholer and financial adviser Capstone of more than $10 million they earned through the bankruptcy of investment management firm GSC Group Inc.
The firms...
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January 09, 2013, 07:32 AM
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Reuters reports Big M Inc., the owner of the 129 Mandee, Annie Sez and Afaze women's clothing stores filed for bankruptcy after Superstorm Sandy cut into the New Jersey-based company's sales and derailed its turnaround.
The company was forced to...
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January 08, 2013, 07:49 AM
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K-V Pharmaceutical Company announced that the U. S. Bankruptcy Court for the Southern District of New York, the Honorable Judge Allan L. Gropper presiding, approved the company's settlement agreement with Hologic, Inc., and authorized the Company to...
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January 02, 2013, 07:33 AM
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NewPage Corporation has successfully completed its financial restructuring and has officially emerged from Chapter 11 bankruptcy protection pursuant to its Modified Fourth Amended Chapter 11 Plan (the Plan), confirmed on December 14, 2012, by the U.S...
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December 24, 2012, 10:00 AM
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THQ Inc, a developer and publisher of interactive entertainment software, announced that it entered into an Asset Purchase Agreement with a “stalking horse bidder,” affiliates of Clearlake Capital Group, to acquire substantially all of the assets of...
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December 20, 2012, 08:09 AM
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Reuters reports Edison Mission Energy, the unregulated power generation business of Edison International, has filed for Chapter 11 bankruptcy protection after being hurt by heavy debts, weak power prices and high fuel costs.
Under a restructuring...
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December 17, 2012, 07:08 AM
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Bloomberg reports NewPage Corp., the largest U.S. coated-paper maker, won court approval of its plan to reorganize and exit bankruptcy in the hands of its first-lien noteholders.The company will leave bankruptcy with about $500 million in debt after...
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December 14, 2012, 07:38 AM
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American Suzuki Motor Corporation (AMSC) received Court approval for Debtor-In-Possession financing and will be able to borrow up to $50 million for operations and up to $50 million for purchases of inventory from Suzuki Motor Corporation (SMC)....
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December 10, 2012, 08:02 AM
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Thomson Reuters News & Insight reported a commission to explore major changes to U.S. bankruptcy rules said on Monday that labor and benefits will be key issues during a host of public hearings beginning early next year.The fate of workers "has...
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December 04, 2012, 07:58 AM
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Reuters reported Hostess Brands received court permission to wind down its 82-year-old business yesterday but revealed "furious" interest in its iconic brands from potential buyers.
New York Bankruptcy Court Judge Robert Drain approved the final...
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November 30, 2012, 07:10 AM
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Dewey & LeBoeuf filed papers seeking approval of its liquidation plan with a federal bankruptcy court on Wednesday, November 21, in the latest step in the wind-down of the law firm.
The liquidation plan, filed in U.S. Bankruptcy Court in Manhattan...
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November 26, 2012, 08:03 AM
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According to Courthouse News, three new judges have been appointed to fill upcoming vacancies on the U.S. Bankruptcy Court for the District of Arizona.
Attorney Daniel Collins, will be sworn on Jan. 18, 2013, in place of Phoenix division Judge...
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November 07, 2012, 07:08 AM
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The Las Vegas Review-Journal reported Ahern Rentals Inc. will retain sole control of its Chapter 11 bankruptcy case for another month amid continuing friction with lenders, although a judge indicated on Wednesday that would be the end.According to...
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November 01, 2012, 06:00 AM
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Total bankruptcy filings totaled 921,219 nationwide during the first nine months of 2012 (Jan. 1-September 30), a 14 percent decrease from the 1,073,021 total filings during the same period a year ago, according to data provided by Epiq Systems, Inc....
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October 09, 2012, 07:00 AM
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