Here's what we are reading this morning:
Broadcaster RNN Strikes Deal to Acquire iMedia Out of Bankruptcy: An affiliate of independent broadcaster RNN Media Group has entered into an agreement to acquire television shopping channel owner iMedia Brands Inc. out of bankruptcy, an iMedia lawyer said Wednesday.
Warren, Booker Press Bed Bath & Beyond on Worker Severance Pay - Bloomberg: Senators Elizabeth Warren and Cory Booker are pressing Bed Bath & Beyond Inc. on an earlier move to flout employee severance pay as mass lay-offs roiled the bankrupt retailer’s stores across the country in recent months, according to a letter seen by Bloomberg News.
Americans Have Quit Quitting Their Jobs - WSJ: The rate at which workers are voluntarily leaving employers is approaching prepandemic levels.
Alpine Summit Energy Files for Bankruptcy After Restructuring Efforts Stalled: Alpine Summit Energy Partners filed for bankruptcy on a confluence of factors including unplanned facility outages, falling natural-gas prices and scarcer financing from more socially conscious lenders.
138 to lose jobs soon at Children’s Place; retailer ends lease early to exit Secaucus HQ by 2024 | ROI-NJ: Additionally, the owner of Baby Place, Gymboree, Sugar & Jade and PJ Place said up to 100 more doors will close this year after steadily thinning its store base over the past several quarters
Binance plunges into crisis as senior execs quit over CEO Changpeng Zhao’s response to Justice Department investigation | Fortune Crypto: Senior members of Binance's legal and compliance team left the company this week.
Blackstone Announces Major Asset Liquidations As Redemption Requests For Its REIT Continue: Blackstone’s opportunistic funds recently announced the sale of $3.1 billion worth of its industrial real estate portfolio. It also is rumored to be considering a sale of its Las Vegas portfolio.
Crypto Lender Genesis’s $2 Billion FTX Fight Risks Creditor-Payout Delays - Bloomberg: A $2 billion dispute between crypto lender Genesis Global Holdco and FTX Trading Ltd. will likely delay court consideration of a payout plan for Genesis creditors, a judge said Thursday.
Mallinckrodt in Talks to Cut Opioid Settlement by Up to $1 Billion: Mallinckrodt, the financially troubled pharmaceutical company, is in discussions with a compensation trust for opioid victims as it seeks to potentially reduce the amount of settlement payments by as much as $1 billion, according to people familiar with the matter.
BuyBuy Baby going-concern auction canceled: Bed Bath & Beyond says that it did not receive any "higher or otherwise better bids" for a going concern transaction than the Dream on Me Industries bid for the IP