Bankruptcy & Restructuring News Headlines for Monday Feb 13, 2023

Here's what we are reading this morning:

Bitcoin P2P Exchange LocalBitcoin Shuts in ‘Very Cold Crypto Winter’ - Bloomberg: LocalBitcoins cited the “ongoing and very cold crypto winter” for its decision in a tweet on Thursday. Its mission to “Bring Bitcoin Everywhere” and promote financial inclusion fell prey to falling volumes and market share, the company said.

Bed Bath & Beyond to Shut Down Canadian Stores in Bankruptcy - WSJ: Bed Bath & Beyond’s Canadian division will shut down its stores under court protection after the company received an unusual lifeline earlier this week to save its U.S. operations from bankruptcy.

New York’s Palisades Center Mall Faces Foreclosure Lawsuit: The West Nyack, N.Y., mall allegedly defaulted on a $418.5 million mortgage loan in November

Avaya Holdings Corp. - Form 12b-25: "The Company continues to have constructive dialogue with its creditors about the parameters of restructuring the Company’s capital structure, which may likely be effectuated in the near-term and take the form of an in-court restructuring for the Company and its domestic subsidiaries."

Crypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token - WSJ: The Securities and Exchange Commission has told Paxos that it plans to sue the company for violating investor protection laws.

Home Gym Maker Tonal Looks for Buyer After Burning Through Cash — The Information: Tonal, a celebrity-backed home fitness startup that saw its valuation balloon to $1.6 billion in 2021, has explored options including a sale, two people familiar with the matter said.

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