Bankruptcy & Restructuring News Headlines for Thursday Feb 22, 2024

Here's what we are reading this morning:

Cruise Operator Hornblower Files for Bankruptcy to Hand Over Control to SVP - WSJ: Private equity-backed company says its overnight cruise business still hasn’t rebounded from the pandemic

Terraform Labs' Do Kwon set to be extradited to the U.S., according to local media | The Block: The High Court in Podgorico made the decision to extradite Kwon to the U.S. and rejected South Korea’s request to extradite the former executive, according to local media site Pobjeda.

WeWork Says Holdout Landlords Can Use Letters of Credit for Unpaid Rent - WSJ: The bankrupt co-working space provider, which has withheld rent as it seeks to renegotiate leases, also said it is raising additional cash to fund its chapter 11 process

BowFlex considering selling company or filling for bankruptcy - Portland Business Journal: The company said that if a sale does not occur or additional cash sources are not found, it may not be able to continue business operations.

Real estate lenders confront falling U.S. commercial property prices | Crain's New York Business: The shakeout in the $20 trillion U.S. commercial real estate market has long been delayed for a simple reason: No one could figure out just how much properties were worth. And, more crucially, few wanted to.

Reno City Center project files for Chapter 11 bankruptcy: The project was scheduled to open in February 2022, at the old Harrah’s building, and feature a Starbucks, bars and restaurants, and a grocer, as well as apartments.

How and Why Do Consumers Use “Buy Now, Pay Later”? - Liberty Street Economics: The authors focus on how the use of "buy now, pay later" (BNPL) varies by a household's level of financial fragility.

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