Bankruptcy & Restructuring News Headlines for Thursday Jan 26, 2023

Here's what we are reading this morning:

Kitchenware Maker Instant Brands Hires Restructuring Advisers Amid Bed Bath Woes: Instant Brands hired restructuring advisers to help it address financial challenges including its exposure to troubled retailer Bed Bath & Beyond, people familiar with the matter said. 

Lakeside Produce declares bankruptcy in Canada, owing $188 million: North America’s produce industry will be rocked by the bankruptcy of Lakeside Produce Inc., in Leamington, Ontario. The firm faces total claims of $187,889,241. Lakeside lists assets at $3,580,233. The bankruptcy was filed on Jan. 17.

MLB preps for Sinclair bankruptcy restructuring - Ballpark Digest: We could see a drastic overhaul of MLB's broadcast revenues with a potential Sinclair bankruptcy, a restructuring that could interrupt and decrease payments.

Sinclair’s Sports Channels Prepare Bankruptcy, Putting Team Payments at Risk: America’s largest owner of local sports channels is heading toward a complex $8.6 billion debt restructuring in bankruptcy court as it stakes its future on a new direct-to-consumer streaming service.

College Sports-Marketing Firm Learfield, Creditors Tap Restructuring Counsel: Lenders to Learfield, the multimedia business that owns broadcast rights for many of the country’s leading collegiate sports teams, have engaged restructuring attorneys as the company faces more than $1 billion of debt coming due this year, people familiar with the matter said.

Altisource Taps Banker to Explore Options as It Nears Debt Wall: Altisource Portfolio Solutions is working with bankers at Guggenheim Partners LLC to help tackle its upcoming debt maturities, according to people with knowledge of the matter.

Financing Year in Review: The Tide Turns | Harvard Law School Forum on Corporate Governance: Posted by John Sobolewski, Greg Pessin and Joel Simwinga, Wachtell, Lipton, Rosen & Katz

St. Cloud Times loses its last remaining reporter following Gannett cuts - Axios Twin Cities: The sole reporter left at the St. Cloud Times is leaving the paper next month, raising questions about how the 93-year-old paper will continue operations with no on-the-ground, full-time editorial staff.

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