Here's what we are reading this morning:
Carlson Family Giving Up Control of Corp Travel Agency CWT in Refinancing Deal – Skift: Corporate travel agency CWT hopes to draw a line under a tumultuous 18 months with a major $1.5 billion debt restructuring plan.
CWT Enters into Agreement with Financial Partners to Recapitalize Business and Significantly Strengthen Financial Position as Business Travel Recovery Gains Momentum: CWT has entered into an agreement with financial stakeholders representing over 90% of the Company’s outstanding debt to recapitalize the business and further strengthen CWT’s financial position as business travel resumes in key markets worldwide.
Bankruptcy filings are down, but lousy deals and operational woes will change that | Reuters: New commercial bankruptcy filings have continued to fall throughout 2021, but experts say the favorable conditions that have allowed businesses to stave off Chapter 11 for the time being won’t last forever as the consequences of questionable deals and underlying operational problems come to the fore.
Casper cuts its CMO, CTO and COO amid further layoffs | TechCrunch: Casper has laid off dozens of employees, including three C-Level executives: its chief marketing officer, chief technology officer and chief operating officer, sources say. The mattress company declined to comment.
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 Sep 15, 2021:
Dixie Fire victims sue PG&E claiming utility sparked blaze | The Sacramento Bee: PG&E Corp. is being sued by more than 200 victims of the Dixie Fire, adding to the potential wildfire liabilities confronting a utility that barely a year ago emerged from a bankruptcy case sparked by earlier fire damages.