Bankruptcy & Restructuring News Headlines for Friday Jun 2, 2023

Here's what we are reading this morning:

Macy's and Costco have a warning about the economy | CNN Business: Macy’s, Costco and other big chains say shoppers are pulling back at their stores and changing what they buy. That could be a red flag for the US economy.

Dead Silicon Valley Unicorns Pile Up as ‘Unicorpses’ - Bloomberg: The mood is upbeat when discussing fast-growing sectors like artificial intelligence, but when it comes to something else, almost anything else, there’s gloom in the air.

Move Over, Delaware: Texas Takes Center Stage in Bankruptcy Surge: Chapter 11 filings by Platinum Equity’s Incora and KKR’s GenesisCare highlight the state’s growing popularity as a bankruptcy venue.

Too much debt coming due and not much cash on hand: These 10 companies face a rough year ahead - MarketWatch: Jefferies offers a list of the top 10 companies with low cash and high near-term debt maturities that investors should avoid.

Monday Properties Defaults On Loan Backed By Billion-Dollar Rosslyn Office Portfolio: The loans tied to a seven-building Rosslyn portfolio mature on June 9, and they are heading to special servicing as the borrower has been unable to refinance.

New York investor Isaac Shalom misses mortgage payments on State Street property | Crain's Chicago Business: With key leases expiring and his mortgage maturing next year, New York investor Isaac Shalom is in a financial pickle.

Developers of failed River North tower file bankruptcy on brink of foreclosure | Crain's Chicago Business: Add two Chapter 11 filings to a legal mess that's now well into its fifth year.

Diamond Sports Is Denied Discount on MLB Broadcast Rights: A bankruptcy judge won’t reduce the broadcast company’s fees to pro baseball’s Diamondbacks, Twins, Guardians and Rangers.

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