Bankruptcy & Restructuring News Headlines for Monday May 15, 2023

Here's what we are reading this morning:

The Block: Celsius pitched bold white-label pivot as core business collapsed: Celsius approached investors about the project, branded Celsius Web Services, with former CEO Alex Mashinsky seeking $1 billion to get it started.

Hospital Tenants of Medical Properties Trust Hire Advisers for Refinancings: Hospital systems Steward Health Care and Prospect Medical Holdings, among the largest tenants of healthcare real estate owner Medical Properties Trust, have brought on financial advisers to help refinance credit lines after some recent financial struggles, according to people familiar with the matter.

San Diego Catholic diocese to file for Chapter 11 bankruptcy - The San Diego Union-Tribune: In February, the diocese said it was just considering seeking bankruptcy protection, under a wave of claims alleging sexual abuse by clergy. Lawyers said Thursday the diocese will definitely file this fall.

Talen Announces Closing of $1.2 Billion Senior Secured Notes Offering: Talen Energy Corporation announced today that Talen Energy Supply, LLC has completed its previously announced offering of $1.2 billion in the aggregate principal amount of its 8.625% senior secured notes due 2030 pursuant to the Joint Chapter 11 Plan of Reorganization of Talen Energy Supply, LLC and its Affiliated Debtors

At Home Group Engages Adviser in Effort to Raise New Financing: At Home Group Inc. is working with financial advisory firm PJT Partners to explore options to raise cash, and is holding confidential talks with some creditors to help address its liquidity needs, according to people with knowledge of the situation.

Groupon Stock Tumbles on Weak Earnings and Warning About Its Survival | Barron's: Groupon has a new leadership team and a new restructuring plan. What's unclear is whether the company can be fixed.

With supply leveling off, the off-price party may be over | Retail Dive: But a return to normal is probably a good thing, according to William Blair analysts.

Why Bed Bath & Beyond’s private labels were a bust | Retail Dive: The now-bankrupt home goods retailer hired the merchant who led the development of billion-dollar store brands at Target. What went wrong?

Industrial Fire Protection Company KFI Announces Voluntary Chapter 11 Sale Process: Kidde-Fenwal, Inc., an industrial fire detection and suppression company, today announced that it has filed a petition for voluntary reorganization under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware

Athenex, Inc. Reaches Agreement With Lenders to Pursue Expedited Sales Process | Athenex, Inc.: To best facilitate this process, Athenex and certain of its subsidiaries filed voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas.

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