Bankruptcy & Restructuring News Headlines for Monday May 8, 2023

Here's what we are reading this morning:

U.S. Job Growth Remains Strong - The New York Times: The labor market showed resilience in April, despite the Federal Reserve’s efforts to cool the economy. More jobs were added than in recent months and the unemployment rate fell.

April Jobs Report: Labor Market Remains Strong as U.S. Adds 253,000 Jobs, Unemployment Falls to 3.4% - WSJ: Hiring picked up as employers added 253,000 jobs last month. The unemployment rate fell to 3.4%.

Vice Media Nears Deal for $400 Million Sale Out of Bankruptcy: The media business is in talks to sell itself to top lenders Fortress and Soros Fund Management through a reorganization that would wipe out other investors.

Fast Food Franchisee Bankruptcies Portend Industrywide Struggles: Fast food franchisees are facing post-Covid headwinds that could spur more of them to file bankruptcy in the coming months.

Jenny Craig is going out of business | CNN Business: Jenny Craig, the weight-loss chain, has confirmed that it’s shutting down for good.

Hardee’s franchisee Summit Restaurant Holdings files for bankruptcy: They have recently closed 39 restaurants and 108 restaurants remain open in Alabama, Florida, Georgia, South Carolina, Kansas, Missouri, Wyoming, and Montana.

Why Roger Lee Started - The New York Times: Roger Lee has cataloged hundreds of thousands of tech job cuts on his site

Christmas Tree Shops Files for Bankruptcy With Plan to Restructure: Discount home-goods retailer Christmas Tree Shops filed for chapter 11 on Friday with a plan to emerge from bankruptcy in months with its store base mostly intact.  

End-of-Pandemic Call Gives Shot to Defaulted Azteca Bondholders - Bloomberg: The World Health Organization declaration on Friday that the emergency phase of Covid-19 is over was largely symbolic. But, in a strange twist, the decision potentially has ramifications for creditors trying to collect on $400 million of defaulted bonds in Mexico City.

Older Post Newer Post