Bankruptcy & Restructuring News Headlines for Friday Aug 16, 2024

Here's what we are reading this morning:

Subway Holds Franchisee Conference as Sales Plummet | Entrepreneur: Franchisees have raised concerns that aggressive discounting strategies have eroded profits without driving expected sales growth

Celsius Mining Venture’s Setbacks Shake Crypto Customers - WSJ: Defunct crypto lender Celsius Network’s plan to hand its customers a spinoff digital coin-mining business hasn’t gone as expected

Vendor Rights Lessons From 2 Chapter 11 Cases : A Texas federal court’s recent critical vendor order in the Zachry Holdings Chapter 11 filing, as well as a settlement between Rite Aid and McKesson in New Jersey federal court last year, shows why suppliers must object to critical vendor motions that do not recognize creditors' legal rights, says David Conaway at Shumaker.

Demolition begins on mammoth Sears complex in Hoffman Estates: At its peak, the campus was home to about 9,000 employees. But after the last of them were sent home due to the COVID-19 pandemic in March 2020, none ever returned

Canada Jetlines grounds all flights, plans to file for creditor protection | CBC News: Canada Jetlines is grounding all flights and says it is temporarily ceasing airline operations effective immediately, making it the latest carrier to signal distress within Canada's troubled commercial airline industry





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