Bankruptcy & Restructuring News Headlines for Monday May 10, 2021

Here's what we are reading this morning:

April jobs report: U.S. sees huge miss as unemployment rate ticks up - Axios: The U.S. economy added a mere 266,000 jobs last month. Forecasters had floated gains close to 1 million, making this the biggest miss, relative to expectations, in decades.

Women Leaving Workforce Again Shows Uneven U.S. Jobs Recovery - Bloomberg: Some 165,000 women aged 20 and over withdrew from the labor force

Marble Ridge Founder Dan Kamensky Gets 6 Months in Prison: Last July, Kamensky lashed out at Jefferies over a bid for shares of bankrupt Neiman Marcus subsidiary MyTheresa.

CMBS Special Servicing Volumes See Huge Drop in April, Led by Hotel Loans – Commercial Real Estate Direct: A total of 37 CMBS loans with a balance of $1.13 billion transferred anew to special servicing in April, according to Trepp LLC. But special servicers resolved substantially more - roughly $3.4 billion - resulting in a 4.42 percent decline in the volume of CMBS loans in special servicing, to $48.85 billion. The decline was driven by the resolution of a number of large hotel loans.

Texas Lawmakers Debate Legislation to Cover Energy Crisis Costs: Texas lawmakers are debating several bills to address how to cover the huge charges facing some energy companies for power purchased during February’s winter storm.

Brookfield sells off its interest in Forever 21 as retail drags down Q1 | Retail Dive: The REIT, which is set to go private in the third quarter, also recently walked away from three malls with delinquent loans.

The Jobs Report: The Boom That Wasn’t - The New York Times: April’s anemic job creation was so out of line with what other indicators have suggested that it will take some time to unravel the mystery.

Authentic Brands to Acquire Eddie Bauer: After a couple of trips through bankruptcy court in the 2000s, Golden Gate Capital purchased the outdoors brand in 2009

JCPenney CEO Touts $1.2 Billion Cash Buffer After Bankruptcy - Bloomberg: JCPenney landed in bankruptcy court after foundering during the pandemic, but the reorganized retailer now sports a relatively big liquidity cushion and its sales are growing.

Bishop Fisher outlines road to renewal in Diocese of Buffalo: The Catholic Diocese of Buffalo filed for chapter 11 bankruptcy last year after more than 250 lawsuits were filed by clergy abuse survivors under the Child Victim’s Act.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding the Departure or Appointment/Election of Directors or Certain Officers (Item 5.02) for the Week Ended Sunday May 9, 2021:

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