Bankruptcy & Restructuring News Headlines for Monday Oct 17, 2022

Here's what we are reading this morning:

ProMedica Health System Working With Law Firm Jones Day: Reorg's Americas Municipals team discusses ProMedica Health System working with law firm Jones Day on restructuring transactions.

Retail sales flat in September as inflation takes a bite | AP News: The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. Retail sales were flat last month, down from a revised 0.4% growth in August, the Commerce Department reported Friday. Retail sales fell 0.4% in July.

Lampert, Sears Lenders Lose Appeal for Priority Bankruptcy Claim: Sears Holdings’ bankruptcy estate sufficiently repaid former CEO Eddie Lampert’s hedge fund and other lenders based on properly calculated collateral valuation, the Second Circuit ruled.

US prosecutors subpoenaed Celsius days after it blocked withdrawals | Financial Times: The subpoena was issued on June 15, the lender disclosed in a Manhattan bankruptcy court filing last week. Celsius had halted withdrawals three days earlier, trapping the savings of hundreds of thousands of customers.

Forma Brands Considering Restructuring Options, Including Chapter 11: Forma Brands, the parent company of Morphe, Lipstick Queen, and Jaclyn Hill's Jaclyn Cosmetics, is considering Chapter 11 bankruptcy and has about $600 million to $700 million of debt, as reported by Reorg Research.

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