Bankruptcy & Restructuring News Headlines for Friday Jan 20, 2023

Here's what we are reading this morning:

New FTX Chief Says Crypto Exchange Could Restart - WSJ: In his first public interview since taking over the failed cryptocurrency exchange, John J. Ray III said that he’s open to the idea of rebooting operations.

Beyond Meat, Impossible Foods Burgers Are Just Another Food Fad - Bloomberg: Beyond Meat and Impossible Foods wanted to upend the world’s $1 trillion meat industry. But plant-based meat is turning out to be a flop.

Starwood, KKR Retail Real Estate Funds Limit Investor Withdrawals | Barron's: Both the Starwood and KKR real estate investment trusts have seen elevated investor redemption requests.

Fandom Layoffs: Giant Bomb, GameSpot, Metacritic, TV Guide Sites Hit - Variety: Fandom has made an unspecified number of layoffs at GameSpot, Giant Bomb, Metacritic and TV Guide — four months after buying the entertainment and gaming sites for about $50 million — as well as letting go other Fandom employees.

Wayfair Is Preparing to Lay Off More Than 1,000 Workers - WSJ: The online furniture seller is confronting shrinking sales after a pandemic-driven boom.

The Block: Genesis creditors back Winklevoss promissory note claim as possible bankruptcy looms: Several creditors say they were told the promissory note was listed as a current asset in documents provided to them by Genesis and seen by The Block.

Jobless Claims Fell by 15,000 Last Week - WSJ: Initial jobless claims declined to the lowest level since September.

Outsider Likely Responsible for FTX’s $400 Million Hack: An outside player, rather than an FTX employee, was likely involved in the roughly $400 million stolen in a hack during the crypto exchage's collapse, according to digital-assets data analytics firm Chainalysis

Discount Retailer Tuesday Morning Nears Another Bankruptcy: Tuesday Morning Corp. is preparing for a possible bankruptcy filing within weeks as its losses and liquidity strains deepen, according to people with knowledge of the situation.

Genesis Global Files for Bankruptcy Protection: Genesis Global Holdco, LLC the parent company of troubled crypto brokerage Genesis Global Capital, filed for Chapter 11 bankruptcy protection late Thursday night in New York federal district court.

Genesis, a Crypto Lending Firm, Files for Bankruptcy - The New York Times: Genesis was caught in the fallout of the collapse of FTX, the crypto exchange founded by Sam Bankman-Fried.

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