Bankruptcy & Restructuring News Headlines for Friday Jun 3, 2022

Here's what we are reading this morning:

Why SPACS Are Flailing as Market Conditions Shift - The New York Times: For a time, SPACs were the preferred way for companies to go public. But changing market conditions and the threat of regulation are making Wall Street lose its appetite.

Another Enjoy Technology CFO out as it faces cash crisis | Retail Dive: The commerce-at-home company — led by former J.C. Penney CEO Ron Johnson — can't keep up with its spiraling costs.

Purchase-Mortgage Company Tomo Lays Off Staff As Housing Market Cools: A softening home-purchase market is coming as a surprise to some companies, leading them to cut staff and reassess expansion plans.

Alex Jones’s Infowars Ends Bankruptcy After Sandy Hook Families’ Exit - WSJ: Infowars is jettisoning its bankruptcy case after families of Sandy Hook school shooting victims who are suing the conspiracy site’s founder, Alex Jones, withdrew from the chapter 11 process.

Dunn Paper Works on Restructuring Deal as Debt Maturity Nears: Dunn Paper is working on a restructuring agreement that may give ownership to a group of first-lien lenders, according to people with knowledge of the situation.

Two California Town Agencies Tap Bond Reserves After Deadly Fire: Two public authorities in a small northern California town that was mostly destroyed by a deadly wildfire in 2018 had to draw on reserve funds to make bond payments this month because the disaster has led to a decline in tax revenue backing the debt.

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