Bankruptcy & Restructuring News Headlines for Thursday Nov 18, 2021

Here's what we are reading this morning:

What Went Wrong With Zillow? A Real-Estate Algorithm Derailed Its Big Bet - WSJ: The company had staked its future growth on Zillow Offers, its business to flip homes using computer-based market predictions. Getting the algorithm right proved to be difficult.

Kmart is closing its last store in birthplace of Michigan | Retail Dive: A decade ago, Kmart had more than 1,300 stores under its banner. Today it has less than two dozen — and counting.

Apollo Poised for Big Returns on $1.5 Billion Hertz Stock Buyback - WSJ: Apollo Global Management is poised to mint a big return on a less-than-five-month investment in Hertz’s turnaround after the rental-car company said it would incur new debt to redeem preferred shares issued when it exited chapter 11.

TPx Lenders Tap Counsel, Begin Debt Talks As Maturity Wall Nears: Certain lenders to U.S. TelePacific Corp. have begun confidential talks with the telecommunications provider as it considers options to address upcoming debt maturities, according to people with knowledge of the situation.

Climate Change Blamed for Bankrupting Chilean Hydroelectric Plant: Alto Maipo SpA and a U.S. affiliate filed for chapter 11 protection Wednesday in the U.S. Bankruptcy Court in Wilmington, Del., owing more than $1.5 billion in senior debt.

Alto Maipo begins reorganization process with the agreement of its creditors : Alto Maipo SpA has filed for Chapter 11, Title 11 of the United States Code through a Pre Arranged financial restructuring agreement reached with its creditors, with the aim of initiating a financial reorganization process.

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