Bankruptcy & Restructuring News Headlines for Friday Oct 22, 2021

Here's what we are reading this morning:

Forever 21 CEO reportedly steps down after less than two years | Retail Dive: Longtime H&M veteran Daniel Kulle took the reins in February last year, but told colleagues it wasn't a good fit, Women's Wear Daily reports.

Chinese Developer Defaults Pile Up as Evergrande Contagion Spreads - WSJ: Dollar-bond defaults are rising quickly as the country’s housing market slumps, and the problem could worsen as a wave of debt from the beleaguered industry comes due in the coming months.

China Evergrande will make crucial bond payment to avert looming default – reports | Evergrande | The Guardian: The struggling property giant has wired $83.5m to creditors, Chinese media says, but deadlines loom for another $193m in payments

Mexican steelmaker AHMSA explores Chapter 11 for mining unit | Reuters: Mexican steelmaker Altos Hornos de Mexico (AHMSA) confirmed on Thursday that it is exploring the possibility of filing for Chapter 11 bankruptcy protection under U.S. law for its subsidiary Minera del Norte.

Washington Prime Group Announces Successful Completion of Financial Restructuring: With WPG’s successful emergence from bankruptcy, Lou Conforti is stepping down from his role as chief executive officer. Mark Yale, WPG’s Executive Vice President and Chief Financial Officer, and Josh Lindimore, the Company’s Executive Vice President, Head of Leasing, will serve as interim Co-CEOs. In addition, it was announced today that Sujan Patel, Jeff Johnson and Martin Reid have been named new members of the Company’s Board of Directors.

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