Bankruptcy & Restructuring News Headlines for Friday Sep 1, 2023

Here's what we are reading this morning:

Furniture maker Mitchell Gold + Bob Williams shuts down over inability to secure ‘critical financing’ | Retail Dive: The company, which was acquired by private equity firm The Stephens Group in 2014, is closing despite a recent $20 million investment by the firm.

J.C. Penney announces $1B turnaround plan | Retail Dive: The struggling department store will upgrade its tech, stores and customer experience, but is unlikely to follow rival Macy’s in leaving the mall.

JCPenney is spending $1 billion on store and online upgrades in latest bid to revive its business: The money is going toward remodeling JCPenney stores, upgrading its online shopping site and app, and making its supply network more efficient.

Madison Dearborn-Backed Benefytt Wins Bankruptcy Plan Approval: Health insurer Benefytt Technologies Inc. won court approval for a bankruptcy plan that provides fresh cash and keeps private equity owner, Madison Dearborn Partners LLC, and lenders in control of the business.

Amazon Business-Buyer Benitago Files Chapter 11 Bankruptcy: Benitago Inc. and affiliates filed for Chapter 11 protection from creditors in New York, court papers show.

Hospital Distress Worsens Amid Labor Scarcity and Inflation: Briefly shored up by pandemic funding, more healthcare providers are now struggling or declaring bankruptcy.

Amazon-Business Acquirer Benitago Files for Bankruptcy - WSJ: New York-based company sought protection from creditors less than two years after a $325 million capital raise.

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