Big Lots received interim Court approval for certain "first day" motions related to the Company's voluntary Chapter 11 proceedings.Among other relief, the Court granted interim approval for the Company to immediately access a portion of its $707.5... Read Story

Edgio, Inc. and certain of its affiliates, a platform choice for security, speed, and simplicity, has voluntarily filed for chapter 11 relief in the United States Bankruptcy Court for the District of Delaware to effectuate one or more sale... Read Story

A nationally branded pool and spa company with revenues of $25 million annually became distressed after rapid expansion during the Covid era. Legal representation for the company, Lippes Mathias, determined that avoiding a Chapter 11 filing was in... Read Story

Red Lobster Management LLC, along with its direct and indirect operating subsidiaries, owner and operator of the Red Lobster restaurant chain, has received court approval of its Chapter 11 plan.As part of the Chapter 11 plan, RL Investor Holdings LLC... Read Story

Overall commercial bankruptcy filings increased 8 percent in August 2024 to 2,562 from 2,358 in August 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. August 2024 commercial chapter 11 filings... Read Story

Lumio, a leader in personalized renewable energy, filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware to complete a value-maximizing sale process and strengthen its financial... Read Story

Blink Fitness announced that the Company has made the strategic decision to execute an efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success. To facilitate the sale process, Blink has... Read Story

As part of its continuing study of Subchapter V of the Bankruptcy Code, ABI launched a website for professionals to share their experiences about the real-world impact of Subchapter V in helping small businesses reorganize and helping their creditors... Read Story

Commercial chapter 11 filings increased 40 percent in July 2024 to 510 from the 364 filings in July 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings also increased 17... Read Story

Buca di Beppo has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Texas. The goal of the restructuring effort is to ensure a seamless transition and... Read Story

The 987 total commercial chapter 11 bankruptcies filed during the first six months of 2024 represented a 70 percent increase over the 582 filed during the same period in 2023, according to data provided by Epiq AACER, the leading provider of U.S.... Read Story

DermTech, a leader in precision dermatology enabled by a non-invasive skin genomics technology, filed for voluntary chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The chapter 11 filing is a continuation of the... Read Story

Fisker Group, the operating subsidiary of Fisker Inc., announced that it filed for Chapter 11 protection in the District of Delaware on June 17, 2024. It is in advanced discussions with financial stakeholders regarding debtor-in-possession financing... Read Story

Coach USA commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to facilitate sale processes to preserve jobs, ensure continued service and maximize the value of its businesses. As part of the... Read Story

Rubio's Restaurants, a fast casual restaurant chain specializing in coastal Mexican food, filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company is taking this action to facilitate the sale of the business. The Company has... Read Story

Small business filings, captured as subchapter V elections within chapter 11, registered a 53 percent increase to 228 in May 2024 from 149 in May 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data.... Read Story

WeWork announced that its Plan of Reorganization has been confirmed by the United States Bankruptcy Court for the District of New Jersey, a final step in the Company’s operational and financial restructuring. The Company expects to emerge from... Read Story

Red Lobster Management LLC, along with its direct and indirect operating subsidiaries, owner and operator of the Red Lobster® restaurant chain, announced that the Company has voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the... Read Story

Sam Ash—the century-old American music retailer that became a beloved institution for generations of amateur and professional musicians alike—filed for Chapter 11 bankruptcy protection on May 8, 2024 in the U.S. Bankruptcy Court for the District of... Read Story

Reuters reported apparel retailer rue21 filed for Chapter 11 bankruptcy protection for a third time and is seeking to shut down its 540 stores and sell its intellectual property. Read the full Reuters news story here. Read Story

Small business filings, captured as subchapter V elections within chapter 11, increased 60 percent to 233 in April 2024 from 146 in April 2023, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Commercial... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

New bankruptcy filings during the first calendar quarter of 2024 (Jan. 1 through March 31) registered year-over-year increases across all U.S. major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of U.S.... Read Story

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... Read Story

Commercial chapter 11 bankruptcy filings climbed 118 percent in February 2024, with the 822 filings versus the 377 filings in February 2023, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. The... Read Story

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... Read Story

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... Read Story

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... Read Story

Total bankruptcy filings were 36,607 in January 2024, a 17 percent increase from the January 2023 total of 31,176, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. January marks 18 consecutive months... Read Story

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... Read Story

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... Read Story

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... Read Story

Commercial chapter 11 filings increased 72 percent to 6,569 in calendar year 2023 from the previous year’s total of 3,819, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial filings... Read Story

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... Read Story

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... Read Story

Near Intelligence, a privacy-led data intelligence company, announced that it and certain of its subsidiaries (collectively, the “Debtors”) have voluntarily initiated a Chapter 11 proceeding in the United States Bankruptcy Court for the District of... Read Story

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... Read Story

North America's largest glass recycler, Strategic Materials, Inc. (SMI), announced a comprehensive restructuring to position the business for long-term growth.SMI and certain of its U.S. domestic subsidiaries have filed voluntary petitions for... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Reuters reported that a U.S. bankruptcy judge on Wednesday approved Party City Holdco's Chapter 11 bankruptcy plan, which will cancel about $1 billion in company debt and turn all of its equity value over to the retailer's lenders.Read the full... Read Story

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.... Read Story

B. Riley Real Estate, subsidiary of B. Riley Financial, served as exclusive real estate advisor in connection with the United Furniture Industries, Inc. (“UFI”) Chapter 11 bankruptcy and related 363 asset sale of all its properties, including the... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Revlon announced that it has successfully completed the financial restructuring process and has emerged from Chapter 11 positioned for future success and growth. The newly reorganized company is named "Revlon Group Holdings LLC.”With approximately... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

New bankruptcy filings in March 2023 registered year-over-year increases across all U.S. major filing categories for the third month in a row, according to data provided by Epiq Bankruptcy, provider of U.S. bankruptcy filing data.A total of 42,368... Read Story

A&G Real Estate Partners, in its capacity as real estate advisor to Party City Holdco Inc. (PCHI), plans to auction eight additional Party City leases as part of PCHI’s expedited financial restructuring, subject to Bankruptcy Court approval of bid... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Genesis Global Holdco, LLC (“Genesis” “GGH” or the “company”), an industry pioneer and digital currency prime brokerage, announced strategic actions to achieve a global resolution to maximize value for all clients and stakeholders and strengthen its... Read Story

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. Read Story

Individual Chapter 13 bankruptcy filings during calendar year 2022 (Jan. 1-Dec. 31) increased 32 percent to 149,072 from the 2021 total of 112,913, according to data provided by Epiq Bankruptcy. While representing a substantial year-over-year... Read Story

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... Read Story

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... Read Story

Commercial chapter 11 filings increased 74 percent to 345 in November 2022 from the 198 filings recorded in November 2021, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data.The November 2022 commercial... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

SSG Advisors (“SSG”) acted as the investment banker to U.S. Tobacco Cooperative Inc. and its affiliates in the placement of exit financing pursuant to a confirmed Chapter 11 Plan of Reorganization (the “Plan”) in the U.S. Bankruptcy Court for the... Read Story

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... Read Story

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... Read Story

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. Read Story

There were 330 commercial chapter 11 filings registered in May 2022, an increase of 34 percent from the 246 filings in May 2021, according to data provided by Epiq Bankruptcy, a provider of U.S. bankruptcy filing data. Overall commercial filings... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

The American Bankruptcy Institute (ABI) applauds the Senate’s swift passage yesterday of the amended S.3823, the “Bankruptcy Threshold Adjustment and Technical Corrections Act.” Sen. Charles Grassley (R-Iowa) had recently introduced the legislative... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Epiq released its December 2021 bankruptcy filing statistics from its Epiq Bankruptcy AACER Platform. Overall, December new filings were 27,957 across all chapters, down 4.7% from November 2021 which had 29,328 new filings. Total commercial filings... Read Story

The 195 commercial chapter 11 filings in November 2021 represented a 70 percent decrease from the 654 filings in November 2020, according to data provided by Epiq. Commercial bankruptcy filings as a whole totaled 1,565 in November 2021, a 33 percent... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Commercial Chapter 11 filings totaled 247 in September, a 67 percent decrease from September 2020’s total of 749 filings. September 2020 business filings were 1,690, a decrease of 37 percent compared to the 2,683 business filings in September... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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.... Read Story

Hertz Global Holdings announced that, following the completion of the auction previously approved by the Court in its Chapter 11 case, Hertz has selected and approved a revised proposal from certain funds and accounts managed by affiliates of each of... Read Story

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... Read Story

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... Read Story

Epiq released its April 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. Total April new filings exceeded the forty thousand threshold for the second straight month with 40,886 across all chapters. The new... Read Story

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... Read Story

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... Read Story

The total 43,425 bankruptcy filings for March represented a 39 percent increase over the 31,221 filings during the previous month of February, according to data provided by Epiq. Similarly, the 41,150 total noncommercial filings for March represented... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

Commercial Chapter 11 filings in January 2021 totaled 479, a 24 percent drop from the 631 commercial Chapter 11 filings in January 2020, according to data provided by Epiq. The 2,035 commercial filings in January 2021 were 43 percent less than the... Read Story

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... Read Story

Frontera Holdings has entered into a Restructuring Support Agreement (RSA) with approximately 97 percent of its term loan lenders, 100 percent of its noteholders, and its 100 percent equity holder, through which most of the Company's debt will be... Read Story

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... Read Story

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... Read Story

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... Read Story

CEC Entertainment announced its emergence from Chapter 11 protection. This milestone marks the successful completion of the Company's financial restructuring process and implementation of the Plan of Reorganization confirmed by the U.S. Bankruptcy... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Commercial Chapter 11 filings increased 46 percent in November over November of last year, according to data provided by Epiq. Increasing from November 2019’s commercial Chapter 11 filing total of 449, nearly half of the 654 commercial Chapter 11... Read Story

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... Read Story

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... Read Story

NPC International, Inc. announced that it has entered into a stalking horse asset purchase agreement with Flynn Restaurant Group LP through certain of its subsidiaries (“Flynn”) and will seek approval of Flynn as the stalking horse bidder from the... Read Story

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... Read Story

Hertz Global Holdings announced that it has secured commitments for fleet financing totaling $4 billion and has filed a motion for approval of The Hertz Corporation entering into the documentation for the financing by the U.S. Bankruptcy Court for... Read Story

Year to date, Commercial Chapter 11 filings are up year-over-year by 30 percent with a total of 6,081 new filings, compared to 4,677 in the same period last year, according to Epiq. However, new Commercial Chapter 11 filings in October were down 26.5... Read Story

CBL Properties announced that CBL & Associates Properties, Inc., CBL & Associates Limited Partnership (the “Operating Partnership”), and certain other related entities have filed voluntary petitions for reorganization under Chapter 11 of the U.S.... Read Story

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... Read Story

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... Read Story

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... Read Story

Headquartered in Texas, Gabriel’s Liquor is the largest packaged store retailer in the greater San Antonio area. Established more than 60 years ago, Gabriel’s operated 33 stores under the names Gabriel’s Liquor and Don’s & Ben’s Liquor. On October 5... Read Story

Libbey Inc., one of the world's largest glass tableware manufacturers, announced that the U.S. Bankruptcy Court for the District of Delaware has confirmed the Company's Plan of Reorganization (the "Plan"). Libbey expects to complete its... Read Story

YogaWorks, one of the leading providers of authentic yoga instruction in the United States, announced that it has voluntarily filed petitions under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of... Read Story

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... Read Story

Mallinckrodt plc announced that it has voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to modify its capital structure, including restructuring portions of its debt, and resolve several billion... Read Story

Bouchard Transportation Co., Inc. the nation’s largest independently-owned ocean-going petroleum barge company, announced that it and certain of its subsidiaries have filed voluntary petitions to restructure under chapter 11 of the United States... Read Story

Neiman Marcus Holding Company, Inc. (formerly Neiman Marcus Group LTD LLC) announced it has emerged from voluntary Chapter 11 protection, successfully completing its restructuring process and implementing the Plan of Reorganization ("Plan") that was... Read Story

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... Read Story

J.C. Penney Company, Inc. announced that it has reached an agreement in principle to sell JCPenney through a court-supervised sale process. The Company plans to seek approval of a disclosure statement and, ultimately, confirmation of a plan of... Read Story

The Securities and Exchange Commission charged Daniel Kamensky, co-chair of the unsecured creditors committee in the Neiman Marcus Group Ltd. LLC Chapter 11 bankruptcy proceedings, with abusing his position on the committee to attempt to benefit a... Read Story

J.C. Penney has until September 10 to reach an agreement with lenders or face liquidation after talks with landlords for a rescue from bankruptcy proceedings stalled over the weekend, according to multiple news reports.Reuters reports the... Read Story

Since the start of the COVID-19 pandemic, courts have alleviated some financial burdens of bankrupt retailers by granting “mothball motions,” allowing companies to shelve post-petition rental payments, according to an article in the August ABI... Read Story

RTW Retailwinds, Inc., an omni-channel specialty apparel retail platform for powerful celebrity and consumer brands, announced that after a bankruptcy auction on Friday August 28, 2020 it has entered into a new asset purchase agreement with the... Read Story

Jason Industries announced that the United States Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization, clearing the way for Jason to successfully complete its Chapter 11 financial restructuring... Read Story

Frontier Communications Corporation announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the Company’s Plan of Reorganization (the “Plan”), subject to final documentation. Upon emergence, the Company will have... Read Story

Chaparral Energy, Inc. announced that the Company has entered into a Restructuring Support Agreement with certain of its funded debtholders to pursue a prepackaged plan of reorganization pursuant to which Chaparral will restructure its balance sheet... Read Story

Total commercial Chapter 11 filings in July increased 52 percent from the previous year, according to data provided by Epiq. Commercial Chapter 11 filings totaled 643 in July, expanding from the July 2019 total of 423, according to the American... Read Story

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... Read Story

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... Read Story

Commercial Chapter 11 filings are up 43% over June of last year, with 609 new filings, up from 424 from the same period last year, according to Epiq, a global leader in legal services. For the first half of 2020, total commercial Chapter 11 filings... Read Story

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... Read Story

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... Read Story

Neiman Marcus Group LTD LLC announced that it has received approval from the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division to access debtor-in-possession ("DIP") financing, including the immediate availability of $250... Read Story

Pyxus International, Inc., a global value-added agricultural company, announced  that it and its subsidiaries, Alliance One International, LLC, Alliance One North America, LLC, Alliance One Specialty Products, LLC and GSP Properties, LLC, filed... Read Story

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... Read Story

Men's retailer Brooks Brothers is reportedly negotiating with unnamed banks as it seeks debtor in possession financing for a possible Chapter 11 filing.According to CNBC, the retailer could file as soon as July but has not yet hammered out the... Read Story

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... Read Story

Total commercial Chapter 11 filings in May increased 48 percent from the previous year, according to data provided by Epiq Systems, Inc. Commercial Chapter 11 filings totaled 722 in May 2020, elevated from the May 2019 total of 487, the American... Read Story

The recent bankruptcy filings of Hertz and Advantage Rent A Car could further exacerbate the downward pressure on U.S. used vehicle prices for the remainder of the year and pressure lease residual values and recovery rates on defaulted auto loans... Read Story

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... Read Story

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... Read Story

Stage Stores, Inc., parent company of off-price retailer Gordmans, announced that the Company has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The... Read Story

Neiman Marcus Group LTD LLC announced that it has entered into a Restructuring Support Agreement with a significant majority of its creditors to undergo a financial restructuring, substantially reducing its debt load and interest payments and... Read Story

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... Read Story

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... Read Story

Frontier Communications Corporation announced that, together with its subsidiaries, it has entered into a Restructuring Support Agreement (“RSA”) with bondholders representing more than 75% of Frontier’s approximately $11 billion in outstanding... Read Story

Jeans retailer True Religion filed for Chapter 11 on Monday as diminishing sales and the pressure on brick and mortar retail wrought by the coronavirus took a final toll on the company.According to multiple press reports, the company's largest... Read Story

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... Read Story

otal Commercial Chapter 11 bankruptcy filings for the first calendar quarter of 2020 increased 14 percent from the same period last year, according to data provided by Epiq Systems, Inc. The 1,709 total commercial Chapter 11s from Jan. 1 through... Read Story

Internap Corporation announced definitive steps through which it expects to significantly reduce debt and extend maturities, equipping INAP to generate the cash flows needed to grow the business and reinvest in its products and customers. To support... Read Story

Total commercial Chapter 11 filings in February 2020 decreased 20 percent over the same period last year, according to data provided by Epiq Systems, Inc. The 547 commercial Chapter 11 filings in February 2020 were down from the 685 commercial... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

American Commercial Lines Inc. announced that it has taken the next step to implement the "pre-packaged" plan to recapitalize the business, significantly reduce the Company's debt under its previously announced Restructuring Support Agreement (the... Read Story

Total commercial Chapter 11 filings in January 2020 increased 72 percent over the same period last year, according to data provided by Epiq Systems, Inc., the American Bankruptcy Institute reported. The 630 Commercial Chapter 11 filings in January... Read Story

GenCanna Global USA, Inc. announced it has filed a petition for voluntary Chapter 11 reorganization with the U.S. Bankruptcy Court in the Eastern District of Kentucky. The filing will allow GenCanna to continue to operate its business without... Read Story

The gulf between market share gainers and donors is widening, as weaker retailers lack the means to improve positioning, often leading to bankruptcy, according to a new Fitch Ratings report."Filers were challenged by weak operating trends, an... Read Story

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... Read Story

McDermott International, Inc. announced that it has the support of more than two-thirds of all its funded debt creditors for a restructuring transaction that will equitize nearly all the Company's funded debt, eliminating over $4.6 billion of... Read Story

The commercial Chapter 11 filing total of 5,502 during calendar year 2019 represented a 0.36 percent increase from the 5,482 commercial Chapter 11 filings in 2018, according to data provided by Epiq Systems, Inc. The 38,944 total commercial filings... Read Story

Private equity backed space firm Vector Launch announced that Lockheed Martin will purchase its GalacticSky-related assets, used for the development of tiny, high-tech satellites, for $4.25 million, after the company filed for bankruptcy on... Read Story

Celadon Group, Inc. announced that it, along with its 25 affiliate entities, have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Celadon also announced it will... Read Story

Bumble Bee Foods, one of North America’s largest branded shelf-stable seafood companies, announced that it has entered into an asset purchase agreement with affiliates of FCF Co., Ltd., which has agreed to acquire the company’s assets for... Read Story

Oil & Gas provider Approach Resources Inc. filed voluntary petitions under chapter 11 in the United States Bankruptcy Court for the Southern District of Texas. The Debtors have filed a motion to have their Chapter 11 cases jointly administered under... Read Story

SSG Capital Advisors, LLC acted as the investment banker to Centerstone Linen Services, LLC d/b/a Clarus Linen Systems in the sale of its assets and multiple operations to Crown Health Care Laundry Services, PureStar Linen Group, LLC ("PureStar")... Read Story

Dean Foods Company announced that it and substantially all of its subsidiaries have initiated voluntary Chapter 11 reorganization proceedings in the Southern District of Texas. The Company intends to use this process to protect and support its... Read Story

Commercial Chapter 11 filings decreased 7 percent to 520 filings from the 557 commercial Chapter 11 filings in October 2018, according to data provided by Epiq Systems, Inc. Overall October business filings increased 3 percent to 3,527 from last... Read Story

Murray Energy Holdings Co. announced that Murray Energy and certain of its subsidiaries entered into a Restructuring Support Agreement (the “RSA”) with an ad hoc lender group holding more than 60% of the approximately $1.7 billion in claims under the... Read Story

Bankrupt energy provider PG&E has secured up $34.4 billion in debt financing commitments from banks including JPMorgan Chase for its planned reorganization, according to press reports.According to Bloomberg, PG&E said the financing terms are "far... Read Story

Sears Holdings Corp. won court approval Monday of a Chapter 11 liquidation plan requiring suppliers that kept its shelves stocked in bankruptcy to wait for their money or take a discounted payoff, according to press reports.According to a report from... Read Story

EP Energy Corporation announced that it has voluntarily filed petitions for chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of Texas. According to media reports it is the largest oil and gas bankruptcy since 2016.EP... Read Story

Commercial Chapter 11 filings totaled 414 in September, a 33 percent increase over September 2018’s total of 312 filings, according to data provided by Epiq Systems, Inc. Overall business filings increased 11 percent to 3,129 filings in September... Read Story

Forever 21, Inc., announced that it and its U.S. subsidiaries have commenced voluntary chapter 11 cases in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Company also announced that its Canadian... Read Story

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.... Read Story

Fred’s Inc., a discount value retailer, has once again tapped SB360 Capital Partners as their exclusive consultant to conduct Store Closing Sales in all 81 remaining Fred’s locations. SB360 Capital Partners, one of North America’s leading asset... Read Story

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... Read Story

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... Read Story

Emergent Capital, Inc. (EMGC) announced that Emergent and certain of its subsidiaries, including White Eagle Asset Portfolio, LP, closed a financing transaction pursuant to which it will partner with Palomino JV, LP (“Palomino”) in the ownership of... Read Story

Barneys New York, the luxury specialty retailer, announced it has secured approximately $218 million in new financing from Brigade Capital Management, LP and B. Riley Financial, Inc. to facilitate a going concern sale process.This new agreement... Read Story

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... Read Story

Emergent Capital, Inc. announced that Emergent and its subsidiaries, including White Eagle Asset Portfolio, LP, entered into a binding commitment with Jade Mountain Partners in connection with the Plan of Reorganization of Emergent’s subsidiaries... Read Story

Vanguard Natural Resources, Inc. announced that it successfully completed its financial restructuring and emerged from Chapter 11 as a new limited liability company under the name of Grizzly Energy, LLC.Through its financial restructuring, the... Read Story

A year after exiting restructuring fashion retailer Charming Charlie has reportedly filed its second bankruptcy filing, with plans to close all 261 of its stores. That's according to numerous media reports, which state the company filed for Chapter... Read Story

Total commercial Chapter 11 filings during the first six months of the year increased 5 percent to 2,854 from the 2,716 total filings during the same period in 2018, American Bankruptcy Institute reported. Total commercial filings also increased... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

Total commercial Chapter 11 filings increased 7 percent to 478 in May 2019 from the May 2018 total of 448, according to data provided by Epiq Systems, Inc. Total commercial filings increased 3 percent in May 2019, as the 3,483 filings were up from... Read Story

A company owned by former Sears Chairman Eddie Lampert's ESL Investments filed suit this week against what's left of the storied retailer alleging that the company withheld assets that should have been turned over after Lampert's company won the bid... Read Story

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... Read Story

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... Read Story

Total commercial Chapter 11 filings increased 11 percent to 440 in April 2019 from the April 2018 total of 395, according to data provided by Epiq Systems, Inc. Total commercial filings increased 5 percent in April 2019, as the 3,443 filings were up... Read Story

Sungard Availability Services (Sungard AS) announced that it has entered into a consensual agreement with a majority of its creditors to reduce Sungard AS’ debt by over two-thirds. This agreement creates a sustainable capital structure to support the... Read Story

Hexion Inc. announced that it has received final authorization from the U.S. Bankruptcy Court for the District of Delaware to access the full amount of its $700 million in committed debtor-in-possession (DIP) financing. The Company had previously... Read Story

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... Read Story

Sears Holdings is suing its former CEO and would-be savior Eddie Lampert for allegedly offloading company real estate to finance his own purchase of Sears' assets at the expense of creditors.According to multiple media reports, the complaint named... Read Story

The following members of the American Bankruptcy Institute (ABI) were elected to leadership positions as officers and directors during ABI’s 2019 Annual Spring Meeting, held April 11-14 in Washington, D.C.: Alane A. Becket of Becket & Lee, LLP... Read Story

Total commercial Chapter 11 filings in March 2019 dropped 44 percent over the same period last year, according to data provided by Epiq Systems, Inc. The 434 total commercial Chapter 11 filings in March 2019 decreased from March 2018’s total of 774... Read Story

Vanguard Natural Resources announced that the company has voluntarily filed petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.The company has obtained a... Read Story

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... Read Story

Wisconsin-based Shopko, which operates a chain of retail pharmacies,  announced that despite the company's best efforts, it was unable to find a buyer for its go-forward business as a going concern. As a result, the company will commence an orderly... Read Story

Total commercial Chapter 11 filings in February 2019 increased 60 percent over the same period last year, according to data provided by Epiq Systems, Inc. The 681 commercial Chapter 11 filings in February 2019 were up from the 425 commercial Chapter... Read Story

After 44 years, fast-fashion retailer Charlotte Russe is going out of business and closing all of the company’s remaining 416 store location