Bankruptcy & Restructuring News Headlines for Friday Nov 4, 2022

Here's what we are reading this morning:

US Crypto Hedge-Fund Investor Protocol to Shut After Market Slump - Bloomberg: Protocol Ventures LP, a US-based investor in crypto hedge funds, is to close down and return cash following the slide in the market for digital assets, according to people familiar with the matter.

The Block: Stripe cuts 14% of workforce as fintech layoffs roll on: Payments firm Stripe is firing 14% of its workforce as layoffs continue at fintech and crypto companies. The company cited the macroeconomic environment and falls in funding for startups.

Blackstone Investors Show Concern Over Massive Real Estate Fund - Bloomberg: A retail boom that supercharged private equity and real estate is slowing, challenging one of the firm’s most ambitious efforts.

Alabama Media Group shifts to all-digital, will stop publishing newspapers in 2023 - Alabama Media Group will shift to all-digital delivery, ending publication in 2023 of its four newspapers in Alabama and Mississippi.

Wayfair lost 1M customers in Q3 as revenues fell 9% | Retail Dive: The online retailer continues to lose share as it sinks deeper into the red, with its operating losses for the year already surpassing $1 billion.

Crypto Exchange Coinbase Posts Third Consecutive Loss - WSJ: The firm lost $2.43 a share, slightly worse than analyst estimates.

Latam Airlines pilots in Chile vote to strike on eve of Chapter 11 exit | Reuters: The largest pilots union of Latam Airlines in Chile voted to strike on Wednesday, a day before the company said it was planning on concluding .

Uniper Posts $39 Billion Loss, Highlighting Ukraine War’s Corporate Fallout - WSJ: The energy giant’s loss, which is one of the biggest in German corporate history, highlights the fallout from Russia’s decision to throttle natural-gas deliveries to Europe.

Garrett Motion Exploring Options Including Sale: It filed for Chapter 11 bankruptcy protection in 2020 after struggling with loan repayments. The company emerged from bankruptcy last year with the support of stakeholders including Centerbridge Partners and Oaktree Capital Management, according to a statement.

Older Post Newer Post