Bankruptcy & Restructuring News Headlines for Thursday Jun 10, 2021

Here's what we are reading this morning:

Bankruptcy Court in Delaware Reopens for In-Person Hearings: Delaware’s bankruptcy court is restarting on-site hearings on a case-by-case basis, while still encouraging participants to attend remotely “whenever possible.”

‎The Cramdown: Episode 5: Potential Changes to the Bankruptcy Code on Apple Podcasts: O’Melveny Restructuring partners Daniel Shamah and Maria DiConza discuss potential changes to the Code, and the effects in three principal areas—treatment of employees and consumers, treatment of insiders, and treatment of private equity.

Staples Makes Plea to Buy Office Depot's Retail Operations: But given the competition from Amazon and Walmart, a deal may be too late to save either.

Lordstown Is Learning Tesla’s Hardest Lesson - Bloomberg: Elon Musk had it right: “Production is hard, it is very hard.”

Prisons Become Latest Meme-Stock Fad With Geo Jumping 38% - Bloomberg: Retail traders drove shares of Geo Group Inc. up as much as 73%, even as the company struggles for survival in a world turning on private-prison operators. As of the close, Geo surged a record 38%.

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Triggering Events That Accelerate or Increase a Direct Financial Obligation (Item 2.04) for the Week Ended Wednesday Jun 9, 2021:

Declaration in Support of Bankruptcy Filing of Retailer Alex and Ani: "Alex and Ani commences these chapter 11 cases to deleverage its balance sheet and continue as a going concern with the support of 100 percent of its first, second, and third lien lenders, and 100 percent of its equity holders."

Jewelry Retailer Alex and Ani Files for Chapter 11 Bankruptcy - Bloomberg: Jewelry maker Alex and Ani LLC, which operates dozens of stores, filed for Chapter 11 bankruptcy protection Wednesday. The Rhode Island-based jewelry company sells wares like charm bracelets and necklaces and was founded in 2004 by Carolyn Rafaelian. It opened its first store in the state in 2009 and has since expanded locations spanning the United States, Aruba and Panama.

Older Post Newer Post