Bankruptcy & Restructuring News Headlines for Tuesday Jun 18, 2024

Here's what we are reading this morning:

Beyond shakes up C-suite in quest for profitability | Retail Dive: Bed Bath & Beyond CEO Chandra Holt has left after less than five months as the struggling e-retail conglomerate streamlined its leadership

Express, Bonobos bought out of bankruptcy for $174M | Retail Dive: A newly formed joint venture between WHP Global and mall owners Simon, Brookfield and Centennial will keep 450 stores open and 7,000 jobs intact

Client Alert: Critical Vendor in Texas: It’s a Rodeo: The Bankruptcy Court, without prompting, asked the Debtors’ counsel to revise the critical vendor order, to not limit the Debtors’ remedies if the critical vendor at any time stopped supplying goods to the Debtors. The court specifically indicated the vendor should be in contempt of court and responsible for all consequential damages caused to the Debtors

Macerich Hands Over Santa Monica Mall to Lender After Default – Commercial Observer: The REIT bought the retail center in its hometown about 25 years ago, but failed to meet payment deadlines since the pandemic.

EV startup Fisker files for bankruptcy | Reuters: The company's unit, Fisker Group Inc, filed for Chapter 11 bankruptcy, listing estimated assets in the range of $500 million to $1 billion and liabilities in the range of $100 million to $500 million.

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