Bankruptcy & Restructuring News Headlines for Friday Sep 8, 2023

Here's what we are reading this morning:

Mitchell Gold + Bob Williams files for bankruptcy: Mitchell Gold + Bob Williams filed for Chapter 11 bankruptcy, less than two weeks after it ceased operations of its 27 retail locations and its North Carolina–based manufacturing facilities.

Fourth Top FTX Executive Pleads Guilty Ahead of Sam Bankman-Fried Trial - The New York Times: Ryan Salame, a former FTX executive, pleaded guilty to charges linked to the sweeping fraud case against Sam Bankman-Fried, the founder of the failed cryptocurrency exchange.

Overstock Reports Declining Revenue at Bed Bath & Beyond So Far - MarketWatch: Revenue at the Bed Bath & Beyond business that brought back online a month ago has thus far declined year-over-year.

Financially struggling rural Pa. hospital creates GoFundMe page with $1.5M goal - Bucktail Medical Center will be able to meet its payroll Friday, its CEO says.

Distressed office market echoes 'mall apocalypse' story of past 20 years - Charlotte Business Journal: Outdated office buildings are facing a reckoning of relevance, just as many malls did in the 2000s, 2010s and even today.

SEC probing Ryan Cohen's ownership, sale of Bed Bath & Beyond shares - WSJ | Reuters: The U.S. Securities and Exchange Commission (SEC) is investigating billionaire Ryan Cohen's ownership and surprise sale of Bed Bath & Beyond shares, the Wall Street Journal reported on Thursday.

SEC Probes Ryan Cohen’s Bed Bath & Beyond Trades - WSJ: The billionaire took a $120 million position in the housewares retailer and then abruptly sold it.

Job Cuts Could Follow Sudden CEO Resignation at Flexport: Workforce uncertainty looms at Flexport with potential job cuts following CEO Dave Clark's departure.

Crypto (BTC) Trading Volume Slumped to Lowest Level of the Year in August - Bloomberg: Total monthly spot and derivatives trading volume fell 11.5%; CCData tracked trading volumes on centralized crypto exchanges

US Derivatives Regulator CFTC Ramps Up Enforcement Against DeFi - Bloomberg: The US Commodity Futures Trading Commission brought enforcement actions against three decentralized finance firms and signaled that more may be coming. The CFTC alleged on Thursday that the companies Opyn Inc., ZeroEx Inc. and Deridex Inc. broke the agency’s rules by illegally allowing US customers to trade digital-asset derivatives without registering.

Off Lease Only Files for Voluntary Chapter 11: Off Lease Only has explored a range of strategic options; however, industry headwinds coupled with the decreased affordability of used vehicles have necessitated the decision to pursue an orderly wind down of the business

Greek Fuel Shipper Eletson to Seek Chapter 11 Bankruptcy: Eletson Holdings Inc. is planning to seek Chapter 11 bankruptcy after resolving a dispute with creditors who tried to force the fuel shipper to liquidate.

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