Bankruptcy & Restructuring News Headlines for Thursday Feb 2, 2023

Here's what we are reading this morning:

Bed Bath & Beyond to close Lewisville facility, leaving hundreds jobless: The retailer leased the almost 800,000-square-foot facility in 2016 to fill e-commerce orders

Federal Reserve Board - Federal Reserve issues FOMC statement: The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 percent.

Fed Approves Quarter-Point Rate Hike, Signals More Increases Likely - WSJ: The Fed raised interest rates by a quarter percentage point and signaled a likely hike in March to continue lowering inflation.

Auto-Parts Company Owned by Carl Icahn Files for Bankruptcy: The billionaire’s investment firm said it is disappointed by its Auto Plus holdings and plans to sell the business in bankruptcy.

Invacare files for bankruptcy - Cleveland Business Journal: The Elyria, Ohio-based medical equipment maker and distributor has worked out a restructuring support agreement with "substantially all of its debt holders" prior to the bankruptcy filing.

Tessemae's Seeks to Reorganize in Chapter 11: This strategic option was necessitated by a need to preserve its assets, obtain new capital to fulfill its strong customer demand, and stop the costly and distracting litigation brought by a former lender for the Company.

Apollo-Backed Shutterfly’s Lenders Tap Lawyers as Loan Drops: Some of Apollo Global Management’s Shutterfly LLC lenders have tapped legal counsel as the company’s loan comes under pressure, according to people with knowledge of the matter.

Bed Bath & Beyond (BBBY) Says It Missed Interest Payments on Bonds - Bloomberg: Bed Bath & Beyond Inc., the financially strapped home-goods retailer, missed interest payments on its bonds, a week after receiving a default notice from lenders.

Bed Bath & Beyond Misses Interest Payments as It Weighs Chapter 11 - WSJ: The home-goods retailer in January warned of a potential bankruptcy filing and said it is running low on funds.

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