Bankruptcy & Restructuring News Headlines for Tuesday Sep 13, 2022

Here's what we are reading this morning:

Olympia Sports, Citing Poor Sales, to Liquidate in Bankruptcy: Sporting goods retailer Olympia Sports Acquisitions LLC filed for Chapter 11 protection with plans to liquidate, citing poor sales, online competition, and residual problems from the Covid-19 pandemic.

As small businesses raise prices, some customers push back | AP News: Inflation isn’t only costing small businesses money. It’s costing them customers as well.

3M unit's bankruptcy could put U.S. mass tort system on trial: Aearo's rationale for the bankruptcy involves questioning whether the U.S. mass tort and MDL system is even functional, calling its own experience "a cautionary tale of a MDL that is broken beyond repair."

Tuesday Morning Lands $35 Million Lifeline From Pier 1 Owner: The discount home-goods retailer has raised debt from the company that owns RadioShack, Dressbarn and other formerly bankrupt retail brands.

A Bad Year for Crypto Is a Really Bad One for Crypto Miners - WSJ: Electricity bills are surging and the equipment isn’t worth what it used to be, which makes for a bleak outlook for companies that mine bitcoin and ether.

Peloton Chairman John Foley to Exit in Management Shake-Up - WSJ: The fitness-equipment maker said co-founder John Foley resigned, and legal chief Hisao Kushi and commercial head Kevin Cornils are also leaving.

Rent the Runway to lay off 24% of employees: While quarterly revenue is up 64% over the same period last year, hitting $75.5 million, Rent the Runway’s net losses came in at $33.9 million.

Multi-billion dollar asset manager Stone Ridge files to liquidate bitcoin strategy fund: The fund will cease to operate from October 21, with shares ceasing trading by EOD on October 3

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