Here's what we are reading this morning:
ABC Carpet & Home Prepares Bankruptcy Filing - Bloomberg: The luxury furniture retailer is set to receive a debtor-in-possession loan from 888 Capital Partners as part of its bankruptcy filing, said the person, who asked not to be named discussing private plans. The investment firm is one of several potential buyers for the company in bankruptcy, the person added.
Archdiocese of Santa Fe property auction promoted online : Both phases of the auction are intended to raise money for a bankruptcy settlement the archdiocese hopes to reach with about 385 victims of sexual abuse committed by priests through the years.
Fitch Follows Moody's in Cutting China Evergrande - Bloomberg: China Evergrande Group’s credit rating has been cut to CC from CCC+ by Fitch Ratings. The move comes two days after the world’s most indebted developer was cut to Ca from Caa1 by Moody’s Investors Service. Rebecca Choong Wilkins reports on "Bloomberg Markets: Asia."
Job Postings Level Off as Delta Variant Cools Demand for In-Person Workers - WSJ: Previously strong demand for restaurant, salon and other in-person service positions has eased, but openings remain near records on white-collar strength.
Most expensive home in America defaults and heads for sale: The 105,000-square-foot Bel Air estate, known as "The One," was placed into receivership by the Los Angeles County Superior Court.
California Independent Petroleum Association files for bankruptcy - Sacramento Business Journal: The California Independent Petroleum Association filed for bankruptcy Sunday after an appeals court determined it must pay nearly $2.3 million in attorneys' fees for challenging a settlement related to new permitting processes for oil and gas producers in Los Angeles neighborhoods.
Facedrive Co-Founder Says Rideshare Startup Mulling Bankruptcy - Bloomberg: A founder of Facedrive Inc., a Canadian ride-hailing startup whose shares have plunged 96% since early February, said in a statement that he received notice that the company is considering filing for bankruptcy protection as soon as this month.
Webinar: Anatomy of the Infamous Caesar’s Entertainment Chapter 11 Restructure: September 29th: Porzio’s Bankruptcy and Financial Restructuring Principal Warren J. Martin, Jr., and Ken Liang, former Head of Restructuring and Managing Director at Oaktree Capital, sit down with authors Max Frumes and Sujeet Indap who wrote, "The Caesars Palace Coup: How a Billionaire Brawl Over the Famous Casino Exposed the Power and Greed of Wall Street.”
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 8, 2021: