Bankruptcy & Restructuring News Headlines for Friday May 15, 2020

Here's what we are reading this morning:

Unemployment Claims Show More Jobs Are Vanishing - The New York Times

Delta to retire Boeing 777s, will likely be overstaffed by some 7,000 pilots, about half of its pilot base

Air travel won't return to pre-crisis levels until 2023, IATA chief warns

Starbucks is asking landlords for a year’s worth of rent breaks

Extraction Oil & Gas SEC Filing: "We have engaged financial and legal advisors to assist us in, among other things, analyzing various strategic alternatives to address our liquidity and capital structure, including strategic and refinancing alternatives to restructure our indebtedness in private transactions. Due to our current financial constraints, there is a substantial risk that it may be necessary for us to seek protection under Chapter 11."

GM’s Cruise Unit Laying Off Almost 8% of Full-Time Employees - Bloomberg

CNBC Video: The pandemic is changing how clothes are made, how retailers are selling those clothes and what we want to be wearing. CNBC retail reporter Lauren Thomas joins FIT associate professor Vincent Quan to discuss disruption in the world of fashion.

Food Retail Industry Insights | Duff & Phelps

Alamo Drafthouse movie theaters in Arizona have filed for bankruptcy

Quartz to undergo restructuring as ad revenue plummets, lays off 80 - Talking Biz News

Trepp: For hotel and retail sectors, the percentage of loans categorized as 30+ days delinquent are 16.1% and 8.9%, respectively.

3 of 10 Nevada workers idle since closures

Ultra Petroleum Corp. Signs Restructuring Support Agreement for Comprehensive Balance Sheet Restructuring, Launches Solicitation for Prepackaged Plan of Reorganization, Voluntarily Files for Chapter 11 to Implement an Agreement in Principle with Certain Lenders and Noteholders and Pursue Consensual Financial Restructuring to Right-Size Long-Term Capital Structure

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