Bankruptcy & Restructuring News Headlines for Thursday Sep 8, 2022

Here's what we are reading this morning:

Cineworld Files for Chapter 11 After Sluggish Ticket Sales - WSJ: Theater admissions have partially rebounded from pandemic lows, but too little too late for the world’s second-largest cinema chain.

Ex-King & Spalding Restructuring Head Goes To Cadwalader - Law360: Former King & Spalding LLP restructuring head Mike Rupe has joined Cadwalader Wickersham & Taft LLP as partner and head of special situations and reorganizations.

Newell Brands Says Retailers Are Cutting Consumer-Goods Orders - WSJ: The conglomerate scaled back its sales outlook, signaling retail supply chains are retrenching as they head into the fall.

Inside the Courts – An Update From Skadden Securities Litigators: This quarter’s issue highlights noteworthy cases and associated court opinions principally decided between May and July 2022.

GameStop reports wider loss: GameStop said quarterly sales declined and losses widened, as its inventory of video game equipment and more swelled.

All of Serta Simmons Debt Matures in 2023: Serta Simmons Bedding faces $2.2 billion in debt maturing in less than a year, increasing the odds of a financial restructuring or a bankruptcy filing amid the company’s ongoing struggles. The Atlanta-based mattress maker and marketer saw sales fall nearly 13% in the second quarter of the year, according to a note by S&P Global Ratings.

Bankrupt Crypto Lender Voyager Digital Heads to Auction Block - Bloomberg: Insolvent crypto lender Voyager Digital Ltd. has drawn enough interest from potential buyers to necessitate an auction.

Inside Bed Bath & Beyond, Concerns Over Mounting Stress for CFO - WSJ: The retailer’s leaders thought finance chief Gustavo Arnal was overwhelmed; Arnal had discussed taking a break before he died.

Moviegoing won't return to pre-pandemic levels, says Disney's Bob Iger: He noted that consumers became more comfortable with streaming services while in lockdown and grew to enjoy the content on these platforms and the flexibility of being able to choose what to watch and when.

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