How Tupperware Lost Its Grip on America’s Kitchens - WSJ
2020 Coronavirus Outbreak Could Be Worst Ever Year for Airlines - Bloomberg
Halting the No. 2 Economy Was Easy. Restarting It Is Hard - WSJ
Advantage Rent A Car Files for Bankruptcy - Legal & Legislative - Auto Rental News
Hornbeck Offshore Strikes Forbearance Deal With Lenders - WSJ
U.S. Shale Drillers Could Be Casualties of Oil Price War - WSJ
Distressed-Debt Investors Crack Open Wallets Amid Market Rout - Bloomberg
Rivers Des Plaines to Launch Sports Betting in Illinois on Monday
Stitch Fix (SFIX) reports second quarter fiscal 2020 sales miss
Oil plunges 24% for worst day since 1991 after OPEC deal failure sparks price war
Coronavirus prompts Delta, American to cut flights, freeze hiring
Frontier Plans to Skip Bond Payments in Runup to Bankruptcy - Bloomberg
Coal Supplier Foresight Energy Files For Bankruptcy, Citing Coronavirus - WSJ
Debt Poses Threat to Some Hotel Owners as Markets Slide - WSJ
Dick’s Sporting Goods is pulling guns from another 440 stores this year
Italy Plans Debt Moratorium to Cope With Coronavirus Lockdown - WSJ
How Outdoor Voices, a Start-Up Darling, Imploded - The New York Times
Solar panel company lays off employees, files Chapter 7 bankruptcy - BusinessDen
ANALYSIS: Courts Issue Range of Orders Responding to Coronavirus
How Your Airbnb Host Is Feeling the Pain of the Coronavirus - The New York Times
White House likely to pursue federal aid for shale companies hit by oil shock downturn - The Washington Post
Coronavirus drives United Airlines US bookings down 70%
Shale Driller Alta Mesa’s Bankruptcy Sale in Doubt Over Oil Collapse - WSJ
Restaurants struggle to survive as coronavirus turns Seattle into a ghost town - CNN
Gov. Inslee to restrict gatherings of more than 250 people, including sports and concerts | The Seattle Times
‘Downright frozen’: DTC funding environment tightens in the age of coronavirus | Modern Retail
Retail marks milestone: Storefronts peddling services overtake those selling clothes and other goods
Coronavirus: At least 150 companies have warned investors
Real Estate Insider: Art Van landlords face possible loan defaults
Boeing Will Draw Down $13.8 Billion Loan to Stockpile Cash - Bloomberg
Robinhood App Maxed Out Credit Line Last Month in Market Tumult - Bloomberg
Neiman Marcus to shutter almost all Last Call off-price stores | Retail Dive
Washington state and San Francisco ban large gatherings to slow the coronavirus outbreak
Coronavirus: US shoe imports from China see worst January in decade
Hedge fund Solus to close flagship investment vehicle | Financial Times
Hilton to Draw Down Part of $1.75 Billion Line as Virus Spreads - Bloomberg
Modell’s Sporting Goods Voluntarily Files for Chapter 11 Bankruptcy Protection | Business Wire
Restrictions on Visitors to Courthouses | Middle District of Alabama | United States Bankruptcy Court
Coronavirus Puts Back-to-School Shopping on the ‘Do It Now’ List
The United States District Court for the District of Maryland has issued Standing Order 2020-02 concerning restrictions on visitors to the U.S. Courthouses
Coronavirus may hinder Eldorado's acquisition of Caesars
China’s No.3 Battery Maker Says Auto Recovery Needed by May - Bloomberg
Coronavirus May Light Fuse on ‘Unexploded Bomb’ of Corporate Debt - The New York Times
Zenabis Global Cuts 22% Of Staff, Plans To Sell Facility | the deep dive
A Seattle Chef Will Close 12 Restaurants Over Coronavirus Fears, Cites 90% Drop in Business
General Order M-540: Restrictions on Visitors to U.S. Bankruptcy Courthouse for the Southern District of New York
U.S. Travel Ban Is Expected to Snarl Trans-Atlantic Airfreight - WSJ
China Car Market Probably Reached Bottom Last Month, Group Says - Bloomberg
Rochester Drug Cooperative files for Chapter 11 | WXXI News
Hotels Turn to Layoffs, Room Rate Cuts as Business Staggers - WSJ
Virus-Hit Travel Sector Starts Tapping $73 Billion Loan Cushion - Bloomberg
Chicago businesses hit hard by COVID-19 concerns | WGN-TV
Chicago-area coronavirus closures, cancellations: Schools, festivals, government and more
Grubhub suspends commissions it charges restaurants - Chicago Tribune
Joymode's Founder Tried to Build the Amazon of Rentals. Now, He Needs to Sell--Fast | Inc.com
Fashion’s Coronavirus Collapse – WWD
Big Lots downgraded as competitive position weakens | Retail Dive
ESPN scrambling for programming amid coronavirus sports shutdown
Already Hit by Coronavirus, Retailers Now Worry About Demand – Adweek
Delta announces its biggest flight capacity cuts in history -- even deeper than after 9/11 - CNN
Lifelines Fray for Companies That Were on Brink Before Meltdown - Bloomberg
Coronavirus: AMC puts capacity cap on theaters
Patagonia is closing all of its stores because of the coronavirus
King of Prussia Mall defies Pa. governor’s closure request; liquor stores remain open
Restaurant owners looking for rent relief over coronavirus slowdown
OpenTable Data Center: Restaurant Performance Data
MGM Resorts International Statement On Temporary Closure Of Las Vegas Properties
CDC recommends canceling events with 50 or more people for 8 weeks throughout US
Federal Reserve cuts rates to zero and launches $700 billion quantitative easing program
Chicago Chefs Shaken By Pritzker Order To Close | WBEZ
These retailers are closing stores to slow coronavirus outbreak
Coronavirus Resources | Morrison & Foerster
Kris Van Cleave (CBS Transportation Correspondent): "United to cut capacity by 50% for April, May and likely beyond. Corporate officers take a 50% pay cut. Airline anticipating load factors in the 20-30% range, #coronavirus estimated to cost the airline $1.5bn in March. 1 million fewer passengers so far in March vs 2019" / Twitter
U.S. Restaurants Employ 15.6 Million Americans: National Restaurant Association
Bankrupt grocer Fairway Group was scheduled to have an in-person auction for its 363 sale on Monday in NYC. Per a Sunday court filing, the auction is now taking place as a virtual auction "due to the public health concerns associated with the Coronavirus"
Without Bankruptcy, States Step In To Help Insolvent Pot Cos. - Law360
Former Delaware U.S. Bankruptcy Court Judge Kevin Gross Joins Richards, Layton & Finger
Northern District of Texas Bankruptcy Court General Order 2020-05: Court Operations Under Exigent Circumstances
Whiting Petroleum Corporation Prioritizes Cash Flow and Announces $185 Million Reduction to 2020 Capital Budget | Whiting Petroleum Corp.
Movie Ticket Sales Fall to Historic Low - The New York Times
Millions of Americans could lose their jobs in a coronavirus recession
Oil Crash Is Bad News for Regional Banks That Went Big on Energy - WSJ
Big Shale Borrowers on Fast Track to Junk in Latest Oil Rout - Bloomberg
Retail store closures in the US could explode because of coronavirus
Tracking the Effect of the Coronavirus on Global Consumer Confidence
Chefs, Restaurant Owners Come Together To Ask City, State — And You — For Help During Coronavirus Shutdown – Block Club Chicago
Update on Debt Funding and Other Matters | Carnival Corporation & plc
Art Van Furniture's creditors' committee formation meeting cancelled, committee formation process to now take place via email and telephone interviews
US ski resorts follow Europe in sudden suspension of all operations | CNN Travel
Coronavirus update: San Francisco orders residents to stay inside, except for essential needs
Coronavirus stimulus: White House grapples with which industries deserve aid
Universal to release movies online while they are in theaters, starting with 'Trolls World Tour'
Bay Area ‘shelter in place’ expected: Only essential businesses open in 6 counties with 6.7 million people until April 7 - SFChronicle.com
Kasie Hunt (NBC News): "NY Governor Cuomo says he doesn’t think NY area can flatten the curve enough to avoid overwhelming the health care system" / Twitter
Airlines Seek $50 Billion in Government Aid Amid Coronavirus Crisis - WSJ
Fiscal contagion of COVID-19 in Chicago widens | Bond Buyer
IWIRC Spring Annual Conference Cancelled
A Frantic Few Days for Restaurants Is Only the Beginning - The New York Times
Caesars begins layoffs in Las Vegas amid COVID-19 business impact | Las Vegas Review-Journal
Virgin Atlantic says it is cutting flights by 80% and parking 75-85% of its aircraft
VF Corporation Provides Update on Global Business Impact of COVID-19
Coronavirus could be the tipping point for industries already suffering from disruption like movie theaters and gyms
Regal to Close All U.S. Theaters Indefinitely Amid Coronavirus Pandemic | Hollywood Reporter
GM offers 0% financing for 7 years, delayed payments amid coronavirus
U.S. car buyers may get a break on loans as coronavirus threatens auto sales - Reuters
EP Energy’s Apollo-Backed Financing Collapses After Oil Rout - WSJ
"Feels like we are going to see more bankruptcy situations that are reminiscent of Delphi in 2008. Confirmed a plan that would have paid general unsecured creditors par + accrued interest but the financing evaporated and that plan never went effective." / Twitter
INAP Takes Action to Strengthen Capital Structure for the Future, Entering into Restructuring Support Agreement with Ad Hoc Lender Group | State | thecentralvirginian.com
American Airlines Is in Talks to Borrow Billions Amid Pandemic - Bloomberg
Delta Is in Talks to Borrow Up to $4 Billion Amid Virus Impact - Bloomberg
Frontier Communications to Skip Interest Payments While Pursuing $17 Billion Restructuring - WSJ
Coronavirus to inflict $3.2 billion tax revenue loss on New York City, says Comptroller Scott Stringer, urging spending cuts - New York Daily News
Federal Reserve Board announces establishment of a Commercial Paper Funding Facility
Arena closing adds to pressure on Barclays Center's junk bonds | Bond Buyer
Exclusive: Shale gas pioneer Chesapeake Energy taps restructuring advisers - sources - Reuters
Costco buys logistics firm Innovel for $1 billion - Reuters
Celebrity Restaurateur Tom Colicchio: "If 75% of restaurants reopen after this, I'd be surprised"
Chinese economy suffers record blow from coronavirus | Financial Times
Bankruptcy Courts Adjust How They’ll Tend to Battered Companies - Bloomberg
Costco Acquires Innovel Solutions from Transform Holdco (Sears) for $1 Billion
Coronavirus Pushes Factories to Stagger Shifts, Separate Workers - WSJ
UAW calls for two-week shutdown of Big 3 auto plants
Marriott Begins Furloughing Tens of Thousands of Employees - WSJ
Coronavirus outbreak puts department stores in peril | Fortune
Libor Plunge Risks Wreaking Havoc in $670 Billion CLO Market - Bloomberg
Ascena gives its balance sheet some relief, but analysts still expect a restructuring | Retail Dive
Vitamin Retailer GNC Says It Might Default on Debt Due This Year - WSJ
M.T.A., Citing Huge Drop in Riders, Seeks $4 Billion Virus Bailout - The New York Times
SoftBank Backs Away From Part of Planned WeWork Bailout - WSJ
Nevada casinos closing for 30 days following state order | Las Vegas Review-Journal
Impossible Foods explores credit line to tackle coronavirus fallout - sources - Reuters
UAW, Detroit automakers negotiate rotating partial shutdowns of US plants
Foursquare Traffic Data: Coronavirus outbreak hurts movie theaters, boosts grocery stores - Business Insider
Social Distancing May Put Liquidation Sales Out of Business - Bloomberg
U.S. airports ask Congress for $10 billion bailout
Few U.S. shale firms can withstand prolonged oil price war - Reuters
California Resources Tries to Restructure $4.9 Billion of Debt - WSJ
New York MTA Taps $1 Billion of Bank Loans as Ridership Plunges - Bloomberg
Coronavirus: GM, Ford and Fiat Chrysler to close all US factories
Coronavirus sends Delta's March revenue down $2 billion, airline to slash capacity by 70%
Private Credit Deals Dry Up in Rout With Pipeline Out of Reach - Bloomberg
Coronavirus Already Taking Big Toll on Urban Malls - WSJ
The Next Consumer Recession: Preparing Now | Deloitte US
Layoffs Are Just Starting, and the Forecasts Are Bleak - The New York Times
Pandemic Erodes Gig Economy Work - The New York Times
Harvard Business Review Special Coverage: Coronavirus
Coronavirus: 18% of U.S. workers have lost jobs or hours, poll finds - Los Angeles Times
COVID-19 | District of Delaware | United States Bankruptcy Court
JPMorgan says it will close 20% branches because coronavirus pandemic
Natural gas producer Gulfport Energy taps debt restructuring adviser: sources - Reuters
Mallinckrodt Loan Collapses, Throwing Doubt on Opioid Pact
Moody's downgrades Cirque du Soleil's CFR to Ca; outlook negative
Coronavirus: AMC CEO says movie theaters need government aid right now
Hyde Park Bakery Is Chicago’s First Permanent Closure of COVID-19 Shutdown - Eater Chicago
GNC’s Finance Chief Says Company Can Repay Bond Due This Year - WSJ
Michael S. Derby (WSJ): "Goldman Sachs warns data point to a historic and frankly apocalyptic surge in unemployment insurance claims, from current 281,000 to 2,250,000 in next week’s report. Yes you read that right." / Twitter
Apollo, Elliott Back Off EP Energy Bankruptcy Financing - WSJ
SoftBank’s OneWeb Is Said to Mull Bankruptcy as Cash Dwindles - Bloomberg
David Elman (The Deal): "[S&P] downgraded Party City to CCC+, outlook negative, today, thanks to continued sales and margin declines. Plus selling party goods is ... not an ideal line of business when we're all socially distancing. "Increasingly likely" will be difficult to refinance at par." / Twitter
Distressed Debt in U.S. Doubles to $500 Billion in Two Weeks - Bloomberg
Coronavirus Layoff Surge Overwhelms Unemployment Offices - The New York Times
GameStop: We Can Stay Open During Lockdowns Because We're 'Essential Retail'
Tesla Operational Update | Tesla, Inc.
Port of Houston Closes Container Terminals After Worker Tests Positive for Coronavirus - WSJ.com
More bankruptcy court filings today providing some insights into coronavirus impacts. For example, China Fishery Group had received court authority to make a $75 million interim distribution but now says the distribution will be delayed.
Are Business Losses from the Coronavirus Covered by Insurance? It Depends. - Jackson Kelly PLLC Blog Post
Hotel lending dries up as travelers stay home | American Banker
The End of Starsky Robotics - Medium
California governor issues statewide order to 'stay at home' effective Thursday evening
Coronavirus markets: Bank of America says the recession already here
Delaware Bankruptcy Court Tests Skype Video Workaround
Junk bond default rate to triple within 12 months, S&P says
Coronavirus: Retailers grapple with closed stores and paying rent
Clearing firm Ronin Capital unable to meet capital requirements at CME: CNBC
Restaurant chain Vapiano reports 'cash flow insolvency' - Reuters
Understanding The Impact of COVID-19 With Foot Traffic Data
GameStop Shuts Down Stores Amid Coronavirus Pandemic | Hollywood Reporter
Fed’s Bullard Says Jobless Rate May Soar to 30% - Bloomberg
Parent of Logan's and Old Chicago 'mothballs' all 261 of its restaurants
Travel Booking Site Shuts Down, Leaving Customers Stranded – NBC Chicago
Cash is King: Flows, Balances, and Buffer Days - Evidence from 600,000 Small Businesses (J.P. Morgan - 2016)
SoftBank-Backed Getaround Looks for a Buyer as Demand Evaporates
PG&E Reaches Deal With California Governor on Bankruptcy Exit - WSJ
Convene lays off 20% of workers as coronavirus hits flex space - Business Insider
CraftWorks Furloughs Workers After Coronavirus Upends Bankruptcy Plans - WSJ
Coronavirus: Retailers grapple with closed stores and paying rent
California Calls on Bankrupt Hospitals to Battle Coronavirus - WSJ
On Sunday, Sanchez Energy requested an emergency bankruptcy status conference on Monday afternoon, saying that "the coronavirus crisis coupled with oil prices plummeting and major disruption in the financial markets have complicated an already difficult situation."
FDIC: FIL-22-2020: Interagency Statement on Loan Modifications by Financial Institutions Working with Customers Affected by the Coronavirus
Coronavirus raises concerns for WeWork members as cases grow - The Washington Post
SoftBank strategy shifts from long-term domination to survival
Joann downgraded as pandemic disruption looms | Retail Dive
Coronavirus: US health officials say 147 nursing homes have at least one case
Oil Collapse Sinks Hornbeck Offshore’s Debt Proposal - WSJ
‘I Need $50K By Next Tuesday:’ Chicago Small Businesses Hurting Because Of COVID-19 – CBS Chicago
Adam Tooze (Columbia Univ.): "Hourly paid work in the US is collapsing. MoM hours worked and going to work have fallen 30-40% realtime to previous month. [Chart]" / Twitter
U.S. Domestic Passenger Flights Could Virtually Shut Down, Voluntarily or by Government Order - WSJ
As bankruptcies loom, Skadden is telling clients to ask these four questions - Reuters
Sanchez Energy Warns Bankruptcy Loan Won’t Be Paid Off - WSJ
Neiman Marcus Said to Mull Bankruptcy to Ease Crushing Debt Load
Coronavirus: US health officials say 147 nursing homes have at least one case
Oil Price War and Challenging Debt Markets: Tax Risks and Strategies for Upstream and Midstream Companies | Insights | Skadden, Arps, Slate, Meagher & Flom LLP
SoftBank-backed brokerage Compass lays off 15% of staff - Business Insider
44% of hotel workers projected to lose their jobs
Joann downgraded as pandemic disruption looms | Retail Dive
SoftBank strategy shifts from long-term domination to survival
Car Carrier Wallenius Wilhelmsen Drops 14 Ships on Tumbling Automotive Demand - WSJ
Bankruptcy Phones Ring Off the Hook; Firms Prep for Deluge
Potential wave of mortgage delinquencies could bankrupt payment system
Bankruptcy Pros Want Protections Broadened to Blunt Coronavirus Impact - WSJ
Small Businesses Seek a Crisis Lifeline Beyond Loans - The New York Times
Puerto Rico Board to Ask to Delay Debt Restructuring - Bloomberg
"Modell's - the sporting goods retailer which filed for #bankruptcy on March 11th to liquidate - filed a motion tonight asking the bankruptcy court to "temporarily suspend" its bankruptcy cases [More Details in Thread on Twitter]
Modell’s Halts Liquidation Because Shoppers Can’t Go Shopping - Bloomberg
Printer LSC Communications is Said to Prepare Bankruptcy Filing | ABI
24 Hour Fitness Draws Down Credit Line After Closing Gyms Due to Coronavirus - WSJ
Lucille Roberts, NYSC gyms parent Town Sports issues ‘going concern’ warning - MarketWatch
This department store is still open for business despite coronavirus
Mortgage Firms Brace for Wave of Missed Payments as Coronavirus Slams Homeowners - WSJ
Luby’s closes 35 more restaurants, cuts majority of HQ staff
Coronavirus has killed off public transportation across the world — Quartz
Businesses Can’t Pay Rent. That’s a Threat to the $3 Trillion Commercial Mortgage Market. - WSJ
U.S. Retailers Plan to Stop Paying Rent to Offset Virus Closures - Bloomberg
Printer LSC Communications Is Said to Prepare Bankruptcy Filing - Bloomberg
As Businesses Close, WeWork Tries to Lure Workers Back - The New York Times
Twitter withdrawn forecast bad sign for online ads in COVID-19 crisis
Read the memo WeWork sent to employees offering them $100 a day to come in during coronavirus lockdowns
Restaurants get no relief from business interruption insurance
Occidental Petroleum Cuts Pay for Staff, Executives - WSJ
Fertitta Furloughs 40,000, Warns of Economic Crisis - Bloomberg
U.S. auto sales expected to fall at least 15% this year
With Cinemas Shut Due to Coronavirus, Theater Chains at Risk of Default - WSJ
By the Numbers: COVID-19’s Devastating Effect on the Restaurant Industry
Inside American Airlines’ Scramble as Virus Grounds Jets by Hundreds - The New York Times
Temporary Increase in Debt Limit Eligibility Under Subchapter V of Chapter 11 included in Stimulus Package
California sees 1 million unemployment claims in less than two weeks
Groupon’s CEO, Chief Operating Officer Both Step Down - WSJ
Furie Operating Alaska Takeover Falls Through Again - WSJ
Cheesecake Factory Tells Landlords It Won’t Be Able to Pay April 1 Rent - Eater LA
Essential? Retailers Like Guitar Center and Michaels Think They Are - The New York Times
More coronavirus fallout for movie theaters - bankrupt movie theater chain Goodrich Quality Theaters filed an emergency motion to reject leases for multiple theaters effective before April 1. Says all of its theaters have been closed since March 14/15.
COVID-19 Stimulus Package May Temporarily Increase SBRA Chapter 11 Debt Limit to $7,500,000 - Plan Proponent
Conference of European Restructuring and Insolvency Law Executive Statement 2020-1 on COVID-19 and insolvency legislation
Coronavirus fallout: Tracking the layoffs, furloughs and cuts at retail startups | Modern Retail
Patrick De Haan: "GasBuddy [gasoline] demand data is terrifying.... showing demand destruction of 50-70% now with most states down 65-75%." / Twitter
Designer Brands furloughs over 80% of employees | Retail Dive
Big Cruise-Ship Lines Wouldn’t Qualify for Aid Under Stimulus Package - WSJ
U.S. Trustee Program to Temporarily Suspend Debtor Audits
Coronavirus drives junk-level downgrade to Metropolitan Opera | Bond Buyer
Tobacco Company Pyxus International and Creditors Hire Restructuring Advisers - WSJ
Paddle 8 Bankruptcy a Harbinger in the Time of COVID19 and the Coming Art World Crisis | Sullivan & Worcester
Greenberg Traurig Re-joins Forces with Former Bankruptcy Group Co-Chair Bruce Zirinsky
U.S. home healthcare industry warns of possible 'collapse' - Reuters
Pier 1 Faces Mass Closures While Lenders Weigh Rescue Bid - Bloomberg
Tesla furloughs employees due to drop in demand amid crisis - Electrek
Lynn Tilton Resigns From Control of Struggling Businesses - WSJ
Exclusive: Cirque du Soleil explores options including bankruptcy - sources - Reuters
Pioneer Natural Resources CEO warns independent oil companies could go bankrupt if production continues amid coronavirus
Build-A-Bear furloughs over 90% of employees, also says it "has not yet determined when some or all of these stores may reopen."
California Resources Said to Mull Bankruptcy After Failed Swap
Coronavirus challenges health of higher education sector | Bond Buyer
Banks Expect U.S. Crude’s Worst Year Since 2003 - WSJ
Instacart’s Gig Workers Are Planning a Massive, Nationwide Strike - VICE
Mortgage Lender Angel Oak Axes 70% of Staff Amid Credit Tumult - Bloomberg
Frontier Communications Presentation to Bondholders (SEC Filing)
Exclusive: Ross Stores, other retailers cancel vendor orders following coronavirus hit - Reuters
The apparel industry had an inventory problem before coronavirus. What now?
BroadVision 8-K - Company Has Entered into Restructuring Support Agreement for Prepackaged Bankruptcy Filing to be Filed in Delaware in Coming Days (as of Friday)
Debt-Laden Party City Taps Restructuring Firm After Sales Plunge - Bloomberg
Taubman Centers to retailers: Malls are closed, but pay rent anyway
Whiting Petroleum Corp. draws $650 million on its credit facility
One Corner of U.S. Oil Market Has Already Seen Negative Prices - Bloomberg
Airbnb freezes hiring and suspends marketing due to coronavirus
SeaWorld is temporarily laying off over 90% of employees - CNN
SoftBank’s OneWeb Files for Bankruptcy After Cash Crunch - Bloomberg
Pier One bankruptcy auction cancelled, major parties "are using this time to work constructively to discern how to structure a value-maximizing transaction in light of the COVID-19 pandemic, increasing government shut-downs, and overall unstable market conditions."
CARBO Ceramics Announces Agreement with Wilks Brothers to Acquire Business and Strengthen Financial Position
Macy's to Furlough Most Workers as Stores Stay Shut - WSJ
Rent the Runway lays off all retail employees due to coronavirus uncertainty - The Verge
Fashion and luxury face $600 billion decline in sales | Vogue Business
Tampa Bay Times will cut five days of print starting next week as ad revenues plummet - Poynter
Exclusive: American Airlines in talks to hire Millstein for aid advice - Reuters
Oklahoma energy producer Chaparral seeks debt advice - sources - Reuters
‘It would take something major’ to keep the doors open at Notre Dame de Namur
Fallout from GenCanna bankruptcy drags down MariMed
Will coronavirus permanently change CRE lending? | American Banker
Coronavirus Dooms Movie-Seat Supplier’s Restructuring Hopes - WSJ
March 2020: Bankruptcy and Restructuring Litigation Update | Quinn Emanuel Urquhart & Sullivan, LLP
Ascena Retail Group, Inc. announces it will "implement a furlough program across its business, including all store associates and close to half of its corporate associates"
LL Bean CEO: Congress must do more to address serious retail crisis
Job losses could total 47 million, unemployment rate of 32%, according to St. Louis Fed projections
Kohl’s is furloughing about 85,000 of its approximately 122,000 employees
Simon Property furloughs 30% of workers due to coronavirus
The State of Vermont has agreed to loan a bankrupt hospital $1.3 million with PIK interest at the Federal Funds Rate on an emergency basis "to stabilize operations due to cash shortfalls resulting from the novel coronavirus causing the disease Covid-19."
New York MTA Chief Says Federal Aid Needed to Avoid Bond Default - Bloomberg
Lauren Thomas (CNBC): "New data from @NPDMattPowell on sneaker biz: Athletic footwear sales are down 65% compared w same week a yr ago (for the week ending March 21). Despite more ppl turning to running, no bump there, either. Running shoe sales are down nearly 70%." / Twitter
Last-minute deal saves Pennsylvania hospital from closing - Axios
Cash-Strapped Coal Giant Murray Energy Faces Liquidation - Bloomberg
Hospitals Burn Through Cash While Congress Weighs Next Stimulus - Bloomberg
CraftWorks to Shed More Than Half Its Restaurants Amid Coronavirus Outbreak - WSJ
TSA Checkpoint Travel Numbers: 2019 vs. 2020 | ABI
Cannabis company CannTrust enters creditor protection, stock halted - MarketWatch
U.S. manufacturers see biggest plunge in new orders and employment in 11 years, ISM finds - MarketWatch
Whiting Petroleum Corporation Reaches Agreement in Principle with Certain of Its Noteholders to Pursue Consensual Financial Restructuring | Business Wire
Urban Outfitters says it won't pay rent | Retail Dive
J.C. Penney furloughs store and corporate staff as closures extend indefinitely | Retail Dive
Hornbeck Offshore Services "is in the process of negotiating and finalizing a restructuring support agreement . . . to be implemented through a prepackaged chapter 11 filing in the Southern District of Texas"
Coronavirus Forces Closure Of 22nd Century Media | Homer Glen, IL Patch
Spartan Race and Tough Mudder: What It's Like Running an Extreme Fitness Company When No One Can Leave Their Homes | Marker
Exclusive: Callon Petroleum taps advisers for debt restructuring - sources - Reuters
WeWork Asks Landlords to Help It Cut Its Rent Bill by Up to 30% - Bloomberg
AMC Entertainment Lenders Hire Lawyers for Restructuring Talks - WSJ
Nearly 60 patients, staff members at a Southern California nursing home test positive for COVID-19 -
US Economic Forecast Q1 2020 | Deloitte Insights
Exclusive: In-flight entertainment company Global Eagle explores debt restructuring - sources - Reuters
Thousands of U.S. banks may sit out small-business rescue plan on liability worries: sources - Reuters
NYC Rent and Coronavirus: Restaurant Owners Plea With Landlords for Forgiveness and Deferment - Eater NY
Auto-Parts Suppliers Teeter as Car Production Halts - WSJ
Coronavirus Pushes Shipping Companies Into Survival Mode - WSJ
Ford's first-quarter sales drop 12.5% amid coronavirus pandemic
Debt crisis awaits in emerging markets - Axios
A record 6.6 million Americans filed for unemployment last week
Luckin Coffee stock tanks 80% after discovery that COO fabricated about $310 million in sales (LK) | Markets Insider
Coronavirus map: Which states are seeing the most job losses due to the pandemic
Fitch downgrades 9 retailers in a day, including Macy's, Nordstrom and J.C. Penney | Retail Dive
Stimulus package provides USPS no funding, postal service could shutter by June 2020 amid coronavirus | Fortune
Bed Bath sues 1-800-Flowers for trying to renege on deal over COVID-19 - Reuters
CBO sees GDP down 7% in second quarter and the jobless rate past 10%
Alaska air carrier RavnAir files for bankruptcy as U.S. Treasury mulls grants - Reuters
Half of Small Businesses Haven’t Paid Full April Rent, Early Poll Suggests - WSJ
To pay or not to pay: Retailers are making tough decisions on rent and other bills | Retail Dive
Paul Page (WSJ): "U.S. freight rail shipments of coal fell 15.9% yoy in March, according to AAR, and the 63,433 average weekly coal carloads was the lowest for any month in records going back to 1988."
Coronavirus Crisis Puts Bankrupt Hospitals Back in Demand - WSJ
Hair Cuttery’s Owner Expects to Miss Payroll on Tuesday - WSJ
Mattress Firm to Pay Reduced Rents to Landlords – Adweek
China's retailers face hard truth: If you reopen, they won't come - Nikkei Asian Review
3% of restaurants have already closed permanently, NRA survey finds | Restaurant Dive
Virus News: Jamie Dimon Sees ‘Bad Recession’, 2008 Echoes Ahead - Bloomberg
Gap Inc. Cancels Summer and Fall Orders As Covid-19 Bites | BoF Exclusive
NYDJ, Saxx, MeUndies and Tommy John Were Looking for Buyers—and Then the Pandemic Hit – Adweek
Macy’s, Inc. CFO Departing May 31st, Remain Advisor Through November
WeWork sues SoftBank over withdrawal of $3 billion tender offer
Stalled by coronavirus, American Dream rethinks its future
Quorum Health Corporation Reaches Agreement with Majority of Lenders and Noteholders on Prepackaged Recapitalization Plan | Business Wire
A message from our founders - Away: "Over the past few weeks, we’ve seen sales of our products decrease by more than 90%"
Brewers Association Survey: 46% of Craft Breweries Say They May Be Forced to Close Within 3 Months | Brewbound
Truckers Cut Spending as Factory Slowdown Weighs on Operators - WSJ
Broadway Extends Shutdown Through June 7
Coronavirus plagues junk-rated Einstein Healthcare Network | Bond Buyer
David Elman (The Deal): "S&P Global Ratings says its weakest links — issuers rated B- or lower with negative outlooks or on CreditWatch negative — has hit an all-time high of 440. "It has accelerated markedly recently because of the Covid-19 pandemic and collapse in oil prices," S&P's Sudeep Kesh said."
COVID-19: Russia Introduces Bankruptcy Filing Moratorium | Insights | Skadden, Arps, Slate, Meagher & Flom LLP
How Goldman Could Recoup the Money It Sank Into Gymboree - WSJ
U.S. energy firm Denbury Resources hires bank for debt advice -sources - Reuters
Greywolf Seeks $400 Million for New Distressed Opportunities - Bloomberg
Bankruptcy Loans Turn Dangerous - WSJ
Nordstrom warns financial situation could grow distressed
Coronavirus Has Shut Stores, and Retailers Are Running Out of Time - WSJ
Pier 1 is Said to Consider Bid That Would Close Over 800 Stores - Bloomberg
Staples refuses to pay landlords for April rents amid coronavirus crisis - Axios
Paul Page (WSJ): "The automotive supply chain is slamming shut with amazing speed. Auto and auto parts shipments on U.S. railroads have fallen nearly 84% since the middle of March, according to AAR figures."
WeWork Skips Rent Payments as Coronavirus Hits Revenue - WSJ
Shocking drop in wholesale gas prices signals more refinery cutbacks and gasoline under $1
Franklin Prepares for Potential Chesapeake Debt Restructuring - WSJ
Farmers Dump Milk, Break Eggs as Coronavirus Restaurant Closings Destroy Demand - WSJ
'A disastrous situation': mountains of food wasted as coronavirus scrambles supply chain | World news | The Guardian
Coronavirus could trigger retail bankruptcies and mass store closings - Business Insider
Alaska Says Mayor Can’t Seize Bankrupt Ravn Air’s Planes - WSJ
US Jobless Claims Top 6.6 Million in Coronavirus Lockdown - Bloomberg
U.S. Consumer Sentiment Plummeted in April by Most on Record - Bloomberg
Rural Hospitals Unsure Coronavirus Aid Is Coming - WSJ
Coronavirus pandemic pushes WeWork to make more room for workers - Axios
Department stores lead consumer industries in probability of default rates | S&P Global Market Intelligence
Denbury Resources Hires Restructuring Advisers to Cope With Oil Crash - WSJ
Coronavirus has pulled the rug out from under demand for pork belly and ribs, driving hog prices to their lowest level in nearly two decades | Raleigh News & Observer
Yelp lays off or furloughs more than 2,000 employees
Amusement-Park Operator Apex Files for Bankruptcy - WSJ
Boyd Gaming to furlough 'most team members' by April 11 | fox5vegas.com
Apex Parks Group Announces Financial Restructuring; Company To Enter Into Stalking Horse Purchase Agreement and Files for Chapter 11 to Effectuate Sale
Inside private-equity giant Blackstone's Las Vegas casino investments - Business Insider
Exclusive: KKR's Envision Healthcare hires bank to explore debt restructuring - sources - Reuters
XFL suspends operations and lays off employees, no plans to return in 2021
Brio and Bravo parent files for Chapter 11 bankruptcy after closing 71 units
White House rejects bailout for Postal Service battered by coronavirus - The Washington Post
Silicon Valley Bank Struggles as Startups Rush for Government Loans — The Information
Airbnb Projects Revenue Could Fall by Half This Year — The Information
For Small Businesses, Paycheck Protection Program Means Hard Choices - The New York Times
Robin Wigglesworth (FT): "Morgan Stanley: 'While we understand the desire for optimism, we also caution that the US outbreak is far from over. Recovering from this acute period in the outbreak is just the beginning and not the end. We believe the path to re-opening the economy is going to be long.' [Graph]"
LSC Communications Takes Action to Strengthen Its Liquidity and Improve Its Capital Structure, Voluntarily Files for Business Reorganization under Chapter 11
Fearing hospital bankruptcy, Gov. Wolf offers $450M in loans to financially strapped providers | TribLIVE.com
NM rural hospitals on life support » Albuquerque Journal
Empty pews, empty collection baskets: coronavirus hits U.S. church finances - Reuters
COVID-19: City of Vancouver at risk of bankruptcy says mayor | Vancouver Sun
Fracking Company FTS International Hires Restructuring Advisers - WSJ
J.C. Penney Is Said to Hire AlixPartners as Revenue Dwindles
N.Y. Sports Clubs Owner Mulls Bankruptcy While Gyms Stay Shut - Bloomberg
Stage Stores seeks concessions from vendors to avoid bankruptcy - letter | Reuters
FedEx Freight will temporarily furlough some workers; the slowdown is related to COVID-19. - The Daily Memphian
Intelsat Seeks Bankruptcy Loan While Awaiting C-Band Sale - Bloomberg
Moody's downgrades General Nutrition Centers, Inc.'s CFR to Ca from Caa1 ]
Auto Industry Gripped by Fear of Impending Car-Price Collapse - Bloomberg
Hornbeck Offshore Enters Into Restructuring Support Agreement For Comprehensive Balance Sheet Restructuring
Exclusive: J.C. Penney explores bankruptcy as hopes for recovery fade - sources - Reuters
Frontier Communications Announces Restructuring Support Agreement to Support Continued Investment in Long-Term Growth | Business Wire
After Coronavirus, Colleges Worry: Will Students Return? - The New York Times
Coronavirus: Homebuilder confidence takes biggest monthly dive ever
J.C. Penney bankruptcy possible: Retailer weighs move amid COVID-19
Nearly 4,000 American breweries could be forced to permanently close in the next 3 months, opening a huge opportunity for America's biggest beer companies - Business Insider
J.C. Penney Skips Bond Payment - WSJ
Best Buy to furlough about 51,000 employees
With confidence shattered, the road to a 'normal' U.S. economy looks long - Reuters
Landlords, Companies Clash Over Rent Payments During Coronavirus - WSJ
WWE® Provides COVID-19 Business Update – World Wrestling Entertainment Inc.
Pierce Bainbridge To Shut Down After Mass Resignations - Law360
Missed Rent Payments Cascade Across the Real Estate Industry - Bloomberg
Yuma Energy, Inc. Files for Chapter 11 Protection
Another 5 million people filed jobless claims last week, bringing total to almost 22 million in one month
The coronavirus pandemic isn't hurting US auto sales as much as feared, J.D. Power says
Can the movie industry survive the coronavirus?
Oil in the age of coronavirus: a U.S. shale bust like no other - Reuters
Town Sports Hires Restructuring Lawyers as It Considers Bankruptcy - WSJ
Diamond Offshore $DO enters into 30-day grace period after skipping coupon payment on its 5.70% notes.
Ultra Petroleum $UPLC enters into 30-day grace period after skipping coupon payment on its 6.875% notes due 2022 and 7.125% notes due 2025
Neiman Marcus Skips Bond Payment, Starts Clock Ticking - WSJ
Paul Page (WSJ): "Ugly but predictable numbers on rail volume over the past week: Overall rail carloads -23.8, coal -36.1%, motor vehicles -87.7% and intermodal -20%. Freight networks are starting to look as deserted as the city streets."
Yuma Energy to Liquidate Through Chapter 11 Bankruptcy - WSJ
J.C. Penney Creditors Tussle in Talks Over Need for Bankruptcy - Bloomberg
Swedish fashion retailer MQ files for bankruptcy - Reuters
Ben Smith (NY Times): "Source shares a pretty dire email sent yesterday by NPR CEO John Lansing: Between a big sponsorship hit and extra costs, they face a $16-25 million deficit, and are slashing costs in hopes of avoiding job cuts."
How 'Mothballed' Ch. 11 Cases Will Affect Vendors, Landlords - Wilmer Hale
‘Pretty Catastrophic’ Month for Retailers, and Now a Race to Survive - The New York Times
Equitable Arguments in Bankruptcy During the COVID-19 Pandemic - Akerman LLP
Stein Mart's private equity takeover gets nixed | Retail Dive
Uber and Lyft Are Searching for Lifelines
NPR Chief Warns of Steep Cost Cuts Amid Coronavirus Pandemic - WSJ
Fight Over Commercial Rent Gets Ugly With Default Wave Looming - Bloomberg
Mary Meeker's coronavirus trends report - Axios
‘Opening up America’ guidelines leave casino industry speculating where it fits - CDC Gaming Reports
7.5 million small businesses are at risk of closing, report finds
Stage Stores presses vendors for concessions | Retail Dive
AMC Entertainment Vies for Rescue Financing to Survive Shutdown - WSJ
Law in the Time of COVID-19 - Free E-Book Published by Columbia Law School
Bed, Bath & Beyond claims "digital net sales growth of more than 90% for the month of April," closed stores repurposed as "regional fulfillment centers" are "facilitating approximately 44% of overall daily orders"
Neiman Marcus Nears Bankruptcy Filing - WSJ
Apparel Maker Centric Brands Seeks to Restructure Debt - WSJ
Virgin Australia: Administrators appointed with millions owed to foreign investors | Daily Telegraph
Exclusive: Lord & Taylor explores bankruptcy as stores remain shut in coronavirus pandemic - Reuters
United Cannabis Corporation $CNAB filed for bankruptcy today in Colorado. The company says in SEC filings that it "does not grow, distribute, sell or knowingly purchase any marijuana plants or products" & all revenue is from hemp-based CBD products and "licensing fees" [Continued....]
California cannabis, deemed essential in coronavirus crisis, is ‘on the brink of collapsing’ | The Sacramento Bee
Late Monday afternoon, Modell's said in bankruptcy court filings that it intends to seek an extension of the suspension of its bankruptcy cases for another month (through May 31st) without prejudicing its right to seek further extensions.
Bankruptcy-related limitations on PPP loans have been a hot topic in ABI email groups. An interesting test case is shaping up in new court filings. A senior living center sought a PPP loan but filed for bankruptcy before the funds were disbursed. It claims that the bank then refused to disburse the proceeds, calling the bankruptcy filing a "material change in circumstances." The debtor is asking the court to force the bank to turnover the proceeds of the PPP loan. In re Village East, Inc., Bankr. W.D. Ky. 20-31144 (Docket No. 29)
Scores of US public companies take small business rescue funds | Financial Times
Pandemic’s Costs Stagger the Nursing Home Industry - The New York Times
Shale Driller Unit Corp. Prepares for Bankruptcy Filing - WSJ
Another bankruptcy PPP loan motion today - bankrupt Mountain States Rosen is seeking court authority for a $3.595 million PPP loan as a post-petition loan under section 364. The motion says the loan was "approved and funded" on April 17th. The company employs 250 people.
For America’s Small Truckers, Demand Is ‘Falling Off a Cliff’ - WSJ
Victoria’s Secret Buyer Seeks to Cancel Takeover After Coronavirus - WSJ
David Shepardson (Reuters): "Delta CEO estimates airline recovery may take two to three years"
McConnell Says He Favors Allowing States to Declare Bankruptcy
Casper lays off 21% of staff, CFO to exit | Retail Dive
Layoffs coming to state, local governments
Deal Volume and Sales Response Rates Drop to New Lows [COVID-19 Benchmark Data, Updated Weekly]
Oil Lenders Hit Pause on Bankruptcy to Avoid Owning the Dead - Bloomberg
The 'Undertaker Of Silicon Valley' Stays Busy As Startups Lay Off Thousands : NPR
Rethinking Chapter 11 Bankruptcy Valuation Issues in the Crisis | WilmerHale
Just 5% of Small Business Owners Have Received PPP Money | LendingTree
Car rental firm Hertz seeks bailout as coronavirus slams fleet
Gap stops paying rents, warns it might not have enough cash
Bankruptcy looms over U.S. energy industry, from oil fields to pipelines - Reuters
Target’s April e-commerce has nearly quadrupled as crowd controls slam in-store sales | Fortune
Jobless Numbers Are ‘Eye-Watering’ but Understate the Crisis - The New York Times
California Pizza Kitchen Seeks Restructuring Deal - WSJ
Canada’s Dominion Diamond Files for Protection From Creditors - WSJ
Startup Magic Leap to Cut Half of Jobs, Shrink Consumer Unit - Bloomberg
The Other Jobs Threat: New Business Drought - WSJ
Gordon Brothers acquires Laura Ashley out of administration | Chain Store Age
Bluemercury On the Block, Macy’s Adjusts Strategy – WWD
Craft Distillers Were Booming. Now They Face Bust. - The New York Times
Less than half L.A. County still has jobs due to coronavirus - Los Angeles Times
Cash dwindles for marijuana companies, ‘extinction-level event’ looms amid coronavirus outbreak - The Boston Globe
SpeedCast Files Bankruptcy With Cruise and Oil Customers Reeling - Bloomberg
Coronavirus will speed up store closures. What landlords need to watch next
Hair Cuttery Files for Chapter 11 Bankruptcy
Hertz Hires Advisers for Restructuring Talks With Lenders - WSJ
New SBA Interim Final Rule clarifies eligibility of bankrupt companies to receive PPP loans
Prepare for the Era of Recrimination | Guggenheim Investments
Retail viewpoint: You survived. Now what? A restart playbook | AlixPartners
Off-Price Retailers Poised For ‘Greatest Apparel Clearance Sale In History’
A New Problem Is Brewing in the Beer Industry: One Million Kegs Are Going Stale - WSJ
Update on the United Cannabis Corp. $CNAB bankruptcy filing - the court took up the issue of eligibility for relief under the Bankruptcy Code sua sponte. Judge Rosania issued an order to show cause setting a May 4th hearing on whether the case should be dismissed.
Liz Ann Sonders (Charles Schwab): "Job postings have declined substantially, & virtually no field has been spared"
COVID‑19 - Mobility Trends Reports - Apple
Diamond Offshore Commences Voluntary Chapter 11 Proceedings To Restructure And Strengthen Balance Sheet | Diamond Offshore Drilling Inc.
Owner of CMX Cinemas Files for Bankruptcy Protection - WSJ
S&P: Pandemic 'catastrophic' for retail | Retail Dive
24 Hour Fitness CEO Responds to Rumors It May File for Bankruptcy
Ship Orders Crash as Coronavirus Takes a Toll on Seaborne Trade - WSJ
Guitar Center Debt Restructuring Looms After Skipped Payments
CIBC slashes cannabis sales forecast to CA$2.5 billion for 2020
No Private Right of Action to Enforce CARES Act; Expect Claims Under State Consumer Protection Laws | McGuireWoods
In the latest challenge to the SBA rules limiting PPP loans to companies in bankruptcy, Maine's Calais Regional Hospital filed an adversary complaint today seeking a determination that the SBA rules violate section 525 of the Bankruptcy Code & other relief [Screenshots of Complaint]
Advocate Aurora stressing its sturdy balance sheet as it heads into the market | Bond Buyer
Mall Landlord CBL Turns to Moelis, Weil for Restructuring - Bloomberg
Simon Property prepares to reopen 49 properties. Here's how that will work
Plano’s Shops at Willow Bend is in receivership
Springfield Hospital in Vermont has also filed an adversary complaint challenging the SBA rules regarding eligibility of bankrupt companies for PPP loans. Represented by the same bankruptcy counsel as Calais Regional Hospital in Maine.
Bankrupt restaurant/catering chain Cosi says in court filings today that "sales are down over 80% from pre-filing projections." The chain filed for bankruptcy on February 24th.
Bankrupt restaurant/catering chain Cosi joins the list of debtors filing complaints against the SBA seeking PPP loans despite on-going bankruptcy cases. Cosi says it needs a ~$3.7 million loan but SBA imposing "completely arbitrary, baseless, and discriminatory requirement[s]"
Latham & Watkins Adds Prominent Restructuring & Special Situations Partner in New York
Georgia gives a glimpse of what reopening retail looks like
Macy’s Suppliers Lose Backstop Insuring Payment for Goods - Bloomberg
AMC Theatres Refuses to Play Universal Films in Wake of 'Trolls World Tour' | Hollywood Reporter
‘A Bargain With the Devil’—Bill Comes Due for Overextended Airbnb Hosts - WSJ
Harry & David Decides Its Stores Won’t Reopen After Coronavirus - WSJ
AMC Theaters and Universal Brawl After ‘Trolls World Tour’ Is Online Hit - The New York Times
