Bankruptcy & Restructuring News Headlines for Monday Jan 16, 2023

Here's what we are reading this morning: to cut 20% jobs as industry rout deepens after FTX collapse | Reuters: said on Friday it would be reducing about 20% of its workforce, as cryptocurrency exchanges face industry-wide challenges brought on by the collapse of FTX last year.

Carvana Cuts Workers Amid Slowing Sales and Debt Squeeze - WSJ: Carvana is cutting staff during a continuing sales slowdown, as it tries to conserve cash to keep up with payments on $7 billion of debt.

The Block: Bitfarms seeks to avoid BlockFi loan default with renegotiation: With the value of equipment plummeting, bitcoin prices low and energy costs high, miners are struggling to stay afloat.

Bed Bath & Beyond’s Collapse Draws Suitors for Buybuy Baby - WSJ: Sycamore Partners is in talks for a possible deal for the Buybuy Baby chain as part of a chapter 11 restructuring at the distressed parent company.

Chetrit, Facing Loan Default, Looking To Offload Over 8,000 Units: The 43 multifamily properties in 10 states had an occupancy of just 76% in the year leading up to March 2022.

FTX Customer Accounts Rise in Value After $5 Billion in Assets Found: Prices offered for FTX accounts stuck in bankruptcy increased this week but the bids still represent a fraction of accounts’ listed value.

Crypto Claims Chat: Legal Expert Panel for Account Holders & Traders | Sullivan & Worcester: Jennifer Pastarnack, Amy Zuccarello and Natalie Lederman will join Andrew Glantz, Chief Strategy Officer at Xclaim, for a webinar discussion on Thursday, January 19, 2023 at 1pm titled "Crypto Claims Chat: Legal Expert Panel for Account Holders & Traders."

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