Bankruptcy & Restructuring News Headlines for Thursday May 6, 2021

Here's what we are reading this morning:

The U.S. Birthrate Has Dropped Again. The Pandemic May Be Accelerating the Decline. - The New York Times: Over all, the birthrate declined by 4 percent in 2020. Births were down most sharply in December, when babies conceived at the start of the health crisis would have been born.

Peloton recalls treadmills after a child dies: The company said Wednesday that it will offer full refunds for the treadmills, which cost more than $4,200, and will stop selling them.

J.C. Penney’s new owners cut 650 jobs as the retailer looks for a permanent Texas headquarters: J.C. Penney has cut 650 jobs in stores, field operations and corporate, or about 1.5% of its workforce of more than 50,000. About 100 of those jobs were...

U.S. judge throws out moratorium on evicting renters | Reuters: A federal judge on Wednesday threw out the U.S. Centers for Disease Control and Prevention's nationwide moratorium on evictions, delivering a setback to Americans hit hard financially by the coronavirus pandemic.

Small business COVID-19 relief program runs out of money: The government’s key COVID-19 relief program for small businesses has run out of money. The Small Business Administration said Wednesday that the Paycheck Protection Program has been exhausted...

US services sector slows slightly in April after record high: The Institute for Supply Management said its monthly survey of service industries showed a drop to a still high reading of 62.7, 1 percentage point lower than the record high of 63.7 set in March.

Life is Good almost filed bankruptcy last year, but this saved it: CEO: Life is Good was on the verge of filing for bankruptcy protection last year, according to its CEO, but the retailer managed to overhaul its business strategy.

Europe Can't Hold Off the Bankruptcy Wave Forever - Bloomberg: A cataclysm may yet be avoided, but insolvencies won’t stay this low.

Credit Suisse Said to Clamp Down on Its Cannabis Dealings - Bloomberg: Credit Suisse Group AG has clamped down on its dealings with cannabis-related securities as part of an ongoing risk management review following a series of scandals at the bank.

Hilton CEO: Business travel is back to about 50% of pre-Covid levels: Hilton CEO Christopher Nassetta expressed optimism around the return of business travel, a crucial segment for the hospitality industry.

Toys ‘R’ Us Creditors Call for Jury Trial on Executive Stay Pay - WSJ: A rare proposed jury trial spotlights bonuses paid out by nearly bankrupt companies

Financial Oversight and Management Board for Puerto Rico Completes Agreement with Assured Guaranty and National Public Finance Guarantee Corp.: Settles Asserted Clawback Claims Against the Commonwealth and Establishes Framework for a HTA Title III Plan of Adjustment

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 May 5, 2021:

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