Bankruptcy & Restructuring News Headlines for Monday May 31, 2021

Here's what we are reading this morning:

Turmoil at Sequential Brands amid late financials, strategic review | Retail Dive: Since the fall, the company has lost a CEO and an executive chairman, and has tried to sell off assets while struggling to pay its debts.

The Backroom: A former Blockbuster insider chronicles its many blunders | Retail Dive: If you think Blockbuster is merely a story about technology, take a second look. Former franchisee Alan Payne discusses its long-deteriorating operations. 

Student debt rises as the status of loan forgiveness remains unclear: Going forward, a 2021 high school graduate could take on as much as $38,147 in student loans, on average, according to a recent NerdWallet analysis of data from the National Center for Education Statistics. That’s up from $37,200 for 2020 high school grads.

Millions of people in 24 states set to lose unemployment benefits: Almost half of states are ending federal unemployment benefits early. But some economists say that isn't a wise move for workers or the economy.

Fed’s Daly Is Ready to Start Debate Over Paring Central Bank Stimulus: Federal Reserve Bank of San Francisco leader Mary Daly said the U.S. central bank is in the initial phase of considering how and when to pull back on its heavy levels of stimulus.

YouFit Estate Gives Up on Bankruptcy Plan, Moves to Dismiss Case: YouFit Health Clubs LLC asked a judge to dismiss its bankruptcy case, saying it lacks the funds needed to get a creditor repayment plan approved after selling the business to a group of secured lenders.

Supersonic jet maker Aerion shuts operations, cites financial challenges: “However, in the current financial environment, it has proven hugely challenging to close on the scheduled and necessary large new capital requirements to finalise the transition of the AS2 into production. Given these conditions, the Aerion Corporation is now taking the appropriate steps in consideration of this ongoing financial environment.”

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 30, 2021:

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