Bankruptcy & Restructuring News Headlines for Tuesday Apr 4, 2023

Here's what we are reading this morning:

Cineworld Reaches Deal With Creditors to Shave Billions of Debt: Cineworld Group Plc is set to submit its bankruptcy-exit plan on Wednesday after reaching a deal with creditors to trim billions of dollars of debt from its balance sheet, according to a lawyer for the company.

Former Bed Bath & Beyond CEO sues over unpaid severance | Retail Dive: According to the court document, Bed Bath & Beyond’s chief legal officer, David Kastin, acknowledged the company stopped paying Tritton in order to preserve its cash reserves.

Talen Energy Nets Regulator Approval of $1.9 Billion Equity Offer: Power generation company Talen Energy Supply LLC says it’s received sign-off from federal energy regulators to begin offering up to $1.9 billion in equity rights.

Bed Bath Begins Three-Week Countdown to Possible Bankruptcy - Bloomberg: It took Bed Bath & Beyond Inc. almost two months to raise $360 million in emergency financing from a hedge fund positioned to profit from the deal. It wasn’t enough.

RadioShack in Trouble Again as Creditor Kicks Off Forced Auction: The husk of storied electronics retailer RadioShack is for sale once again as its owner finds itself on shaky financial footing.

Virgin Orbit files for bankruptcy | Nasdaq: Richard Branson's Virgin Orbit Holdings VORB.O filed for Chapter 11 bankruptcy after the satellite launch company failed to secure the long-term funding needed to help it recover from a January rocket failure.

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