Bankruptcy & Restructuring News Headlines for Friday Sep 17, 2021

Here's what we are reading this morning:

3rd Circuit Holds Post-Confirmation, Pre-Effective Date “Claims” Dischargeable in Bankruptcy | McGuireWoods LLP: On Aug 30, 2021, the 3rd U.S. Circuit Court of Appeals became the first federal appellate court to confirm that claims arising against a debtor following confirmation of a Chapter 11 plan, but prior to the plan’s effective date, are subject to discharge.

Committee wants to file own plan in Boy Scouts bankruptcy : A committee charged with representing tens of thousands of alleged victims of child sex abuse in the Boy Scouts of America bankruptcy asked the judge on Wednesday to terminate the BSA’s exclusive rights to file a reorganization plan, so that it can file its own.

Hardest hit: Retailers are putting 2020 behind them, but some still show weakness | Retail Dive: J. Jill, Chico's, Tuesday Morning and others still show financial vulnerability even during a broad-based retail recovery, according to RapidRatings data. 

Retail Sales Rose in August, Highlighting Uneven Consumer Spending - The New York Times: The 0.7 percent climb in sales last month came after a 1.8 percent decline in July and gains earlier in the summer.

Illinois’ Last Remaining Sears Store Closing In Schaumburg – CBS Chicago: The Sears department store in Woodfield Mall, one of the shopping center's original anchor tenants, will close on Nov. 14.

Fresh Start: Hilco's Ian Fredericks - The Deal: Hilco Merchant Resources president Ian Fredericks discusses the business of liquidation and the outlook for retail in the fourth quarter.

This afternoon, another retailer filed for bankruptcy - Lorna Jane USA, Inc. : Only the petition has been filed thus far, but this appears likely to be a bankruptcy filing driven by a change in business model (from brick and mortar to solely online).

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Material Impairments (Item 2.06) for the Week Ended Thursday Sep 16, 2021:

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