Bankruptcy & Restructuring News Headlines for Monday Jun 10, 2024

Here's what we are reading this morning:

Landlords close in on acquisition of Express | Retail Dive: Their stalking horse bid includes about $160 million in cash and $38 million of assumed liabilities, according to a revised court filing Wednesday. If a higher bid comes in by June 11, an auction is scheduled for June 12

PayPal, Klarna Sell Debt Backed by Buy Now, Pay Later Loans - Bloomberg: Companies offering buy now, pay later services like PayPal Holdings Inc. and Klarna Bank AB are selling debt backed by consumer loans, as they find new ways to fund their business in a higher-rate environment.

Cash strain projected to continue at University of Arizona | Bond Buyer: A preliminary forecast showed the school's days cash on hand falling below the Board of Regents' 140 days minimum requirement for a third straight fiscal year.

Alex Jones seeks permission to convert his personal bankruptcy into a liquidation | PBS NewsHour: That would lead to a sell-off of a large portion of the Infowars host's assets to help pay some of the $1.5 billion he owes relatives of victims of the Sandy Hook Elementary School shooting.

Spirit Airlines CEO says not considering chapter 11: Spirit is struggling in the wake of a failed takeover by JetBlue Airways and a Pratt & Whitney engine recall.

Philadelphia Arts College With $50 Million of Muni Debt to Shut - Bloomberg: University of the Arts, a private college in Philadelphia that trains future animators and dancers with roughly $50 million of municipal debt outstanding, is abruptly closing after its finances deteriorated

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