Bankruptcy & Restructuring News Headlines for Friday Apr 15, 2022

Here's what we are reading this morning:

March retail sales rise just 3% as consumers move past the pandemic | Retail Dive: Inflation took its toll on household spending, but people are also spending more on travel, dining out and other services.

Duane Morris to Cut Office Space 20% on Remote Work, Desk Shares: Duane Morris plans to cut office space by more than a fifth in five years, as smaller partner suites, shared desks and remote work offer major cost savings.

CLOs Face Pain From Looming Risk of Leveraged Loan Downgrades - Bloomberg: There have never been so many leveraged loans on the cusp of the lowest tier of ratings, and the biggest buyers of the debt could be clobbered by any wave of downgrades.

Gopuff Buys Time for Its 30-Minutes-or-Less Delivery Promise - The New York Times: To set themselves apart from DoorDash and Instacart, which connect customers to restaurants and grocery stores via their apps and rely on gig workers, Mr. Gola and Mr. Ilishayev decided Gopuff would buy goods from distributors and wholesalers and have warehouses.

Lifespace CCRC Files for Chapter 11 Bankruptcy, Sues Landlord - Senior Housing News: A luxury community owned and operated by Lifespace Communities is filing for Chapter 11 bankruptcy after encountering financial headwinds due to the Covid-19 pandemic

US Trustee Balks At Buyk's Ch. 11 Employee Bonus Plans - Law360: The federal bankruptcy watchdog objected Thursday to the proposed key employee bonus plans of grocery delivery app Buyk Corp., telling a New York court that the six employees slated to get the bonuses are ineligible for the distributions because they are insiders of the debtor.

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