Bankruptcy & Restructuring News Headlines for Thursday May 23, 2024

Here's what we are reading this morning:

Pier 1, Stein Mart ownership changes hands | Retail Dive: The backers of Retail Ecommerce Ventures have acquired its IP portfolio, allowing it to avoid bankruptcy

Iconic Brands Unite Under OMNI Retail Enterprises | Business Wire:,,, and more under new ownership

Interest Rate-Driven Debt Distress Creates ‘Rifle-Shot’ Opportunities - WSJ: Economic expansion buoys businesses and requires more precision by investors in troubled credit, investors say

The Rise of The Sponsor-in-Possession and Implications for Sponsor Behavior - Penn Law Review: Changes in the capital markets and developments in the law and judicial practice have shifted the balance of power in many distress situations from creditors to financial sponsors

Tommy's Boats files for bankruptcy protection, leaves customers in limbo: Denver7 Investigates has learned that multiple customers are waiting on information after placing deposits at Tommy’s locations across the country. The company announced Tuesday that it was filing for bankruptcy protection in a U.S. District Court in Texas.

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