Fisker Slashes EV Prices as Much as 39% in Fight for Survival - Bloomberg: Fisker Inc. dramatically reduced the price of the Ocean sport utility vehicle — its only model — as the electric-car maker struggles to stay in business.
Bondholder group 'firmly opposes' China developer Shimao's debt revamp proposal | Reuters: "The ad hoc creditor group firmly opposes Shimao's restructuring proposal, (and) will unequivocally vote against it and other scheme creditors ought to do the same," the offshore creditor group's financial adviser Houlihan Lokey said in a statement.
GameStop faces 'unsustainable' sales decline, cuts jobs to control costs | Reuters: "An increasing mix of digital downloads is hurting physical retail, and there is simply no reason to go to the store if a consumer can just order a game and download it immediately," Wedbush Securities analyst Michael Pachter said.
Jefferies’ Joe Femenia Gains Edge in Distressed-Debt Investing (JEF) - Bloomberg: At Jefferies Financial Group Inc., a small group of traders and analysts run by a former Navy SEAL is having an outsized impact in the crowded and contentious world of distressed debt.
Fisker lost track of millions of dollars in customer payments for months | TechCrunch: Fisker temporarily lost track of millions of dollars in customer payments as it scaled up deliveries, leading to an internal audit that started in December and took months to complete, TechCrunch has learned
Sam Bankman-Fried Prison Sentence Shaped by FTX Crypto Fraud - Bloomberg: Evidence from the criminal trial of Sam Bankman-Fried suggests fraud was built into FTX from the very beginning.
About 44% of Chapter 11s are Subchapter V Cases - Credit Slips: In 2023, forty-five percent of chapter 11 debtors used subchapter V. That was 1,854 of the 4,121 chapter 11 cases in 2023.
Rating agencies and investors weigh Baltimore bridge collapse | Bond Buyer: Investors and credit rating agencies are weighing how much effect the collapse of the Francis Scott Key bridge in Baltimore's inner harbor will have on the local economy and logistics on the East Coast, though early indications suggest no drastic credit impact.
Alex Jones, Infowars Bankruptcies Get a Mediator - WSJ: A judge appointed a mediator for the bankruptcy cases of conspiracy theorist Alex Jones and his Infowars website in response to an emergency request from a bankruptcy trustee.
Red Lobster Appoints Restructuring Expert Jonathan Tibus as New CEO - FSR magazine: Tibus has been part of multiple bankruptcy restructuring efforts over the years, including Quiznos in 2014, Real Mex Restaurants in 2018, Kona Grill in 2019, and Krystal in 2020. Red Lobster owner Thai Union picked Tibus to lead the seafood chain through a sale and turnaround effort.
