Bankruptcy & Restructuring News Headlines for Monday Aug 28, 2023

Here's what we are reading this morning:

Rite Aid Prepares Bankruptcy That Would Halt Opioid Lawsuits - WSJ: Rite Aid is preparing to file for bankruptcy in coming weeks to address mass lawsuits over the drugstore chain’s alleged role in the sale of opioids, according to people familiar with the company’s plans.

U.S. Consumers Are Showing Signs of Stress, Retailers Say - The New York Times: Consumer spending remains resilient, but retailers’ latest earnings offered a glimpse into worrying shifts in shopping habits.

Crypto Exchanges to Report Customer Data Under Treasury Proposal - Bloomberg: Proposal would give government more data on crypto trades; decentralized exchanges would also be subject to reporting

Fed Chair Powell calls inflation 'too high' and warns that 'we are prepared to raise rates further': Federal Chair Jerome Powell called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come.

Mallinckrodt plc Takes Next Step to Implement Comprehensive Financial Restructuring Plan to Address Long-Term Debt and Opioid Obligations: Initiates Voluntary Prepackaged Chapter 11 Proceedings with Overwhelming Support of Key Stakeholders, Including 85%+ of First and Second Lien Debtholders

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