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

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

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

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... 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

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... 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

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... 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

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... 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

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.... 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

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... 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

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

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.... 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

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... Read Story

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... 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

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... 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

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... Read Story

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... 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

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

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... 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

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... 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

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... 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

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... 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

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... 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

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

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... Read Story

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... 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

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 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

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... 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

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... 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

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

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... Read Story

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... Read Story

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... 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

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... Read Story

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... 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

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... 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

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... 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

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... 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

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

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

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

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

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

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... 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

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... Read Story

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... 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

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

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

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

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

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... Read Story

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... 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

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... 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

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... 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

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

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

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... 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

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

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

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... 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

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... Read Story

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... 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

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

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... 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

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

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... 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

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... Read Story

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... 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

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

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... 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

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 ... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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"... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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")... Read Story

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... Read Story

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... Read Story

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.... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story

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... Read Story