Bankruptcy & Restructuring News Headlines for Friday Aug 26, 2022

Here's what we are reading this morning:

Bed Bath & Beyond’s Grasp for Cash Puts Buybuy Baby Brand on the Line (BBBY) - Bloomberg: Bed Bath & Beyond Inc. is looking to mortgage its prized Buybuy Baby brand in its urgent effort to raise financing as sales slump, cash runs low and unpaid vendors withhold shipments.

Peloton’s Quarterly Loss Tops $1.2 Billion as Bike, Treadmill Sales Plunge - WSJ: Fourth-quarter revenue dropped nearly 30% from a year ago. The CEO reiterated that the maker of connected fitness equipment is taking steps to shore up finances.

Avaya Lenders Send Letter Demanding Company Keep Cash in Escrow (AVYA) - Bloomberg: A group of Avaya Holdings Corp. lenders who saw their recently issued loan holdings plunge nearly 25% in two months sent a letter to the struggling telecommunications software company asking it to preserve cash and provide new business projections, according to people with knowledge of the matter.

Bed Bath & Beyond says it will share its comeback strategy next week: The troubled home goods retailer is coping with slowing sales and dwindling cash as it prepares for the holiday season.

Lyft Plans to Ditch 45% of Its US Office Space – Commercial Observer: A recent survey of 250 U.S. companies found that 46 percent expect to reduce office space in the future and another showed that 16 percent of service firms in the New York area have already done so.

Trump's social media app facing financial fallout | Fox Business: Truth Social is locked in a bitter battle with one of its vendors claiming that the platform is stiffing the company out of some contractually obligated payments.

Crypto’s massive marketing efforts have drawn few new investors - The Washington Post: Over the past year, crypto companies like FTX, Coinbase and have shelled out tens of millions of dollars to attract new customers. Now a core metric of how successful they were has been returned, and experts say it’s an eye-opening one: not successful at all.

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