Bankruptcy & Restructuring News Headlines for Friday Nov 19, 2021

Here's what we are reading this morning:

CVS to Close 900 Stores Over Three Years - WSJ: The largest U.S. pharmacy chain said it will close 300 stores a year while adding primary care offices at certain sites as well as converting more stores into so-called health hubs.

China Evergrande raises US$273 million with exit from HengTen as creditors await payments on local and offshore debt | South China Morning Post: Embattled developer China Evergrande is facing deadlines next week to make overdue interest payments on domestic and offshore debt. It must raise US$366 million by year end.

What Happened to MDC Energy? A Lesson From Permian Basin Oil Company - Bloomberg: Mark Siffin’s foray into the Permian Basin leaves behind financial and environmental wreckage that outlasts his presence in West Texas. 

Times Square Edition Hitting Auction Block: Maefield’s Times Square Edition is headed to auction after a New York State court entered a foreclosure and sale judgment for the luxury hotel.

Auto-Repair Company Service King Flags Cash Crunch, Ability to Pay Debt - Bloomberg: Auto repair company Service King has warned its lenders that dwindling cash is casting doubt on its ability to pay debt and continue as a going concern, according to people familiar with the closely held company’s most recent results.

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