Bankruptcy & Restructuring News Headlines for Monday Jun 3, 2024

Here's what we are reading this morning:

IHeart Creditors Including Pimco Tap Advisers as Revenue Slumps - Bloomberg: Some creditors to iHeartMedia Inc., including Pacific Investment Management Co., have retained financial and legal advisers as they eye a drop in revenue at a time when other indebted media companies are pushing ahead with debt restructurings

Inside EV startup Fisker’s collapse: how the company crumbled under its founders' whims | TechCrunch: “The lack of processes and procedures was kind of mind-blowing,” Sean O’Grady, a former regional sales manager at Fisker, told TechCrunch. “The same excuse that I kept hearing all the time was, well, if you’ve never worked for a startup before, this is what it’s like, it’s chaotic.”

Jefferies Claims George Weiss Guaranteed $100 Million Debt: As his hedge fund empire teetered on insolvency, George Weiss allegedly agreed to personally backstop debt to keep lender Jefferies Financial Group at bay. Now, Jefferies claims Weiss and his bankrupt companies owe more than $100 million.

San Diego Rubio's locations close | The chain, known for its fish tacos, started in Mission Bay in 1983. The company filed for Chapter 11 bankruptcy in 2020, noting the impact of COVID-19 on its business. Rubio's conducted a "thorough review of its operations and the current business climate" before deciding to close more stores.

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