Bankruptcy & Restructuring News Headlines for Wednesday Apr 3, 2024

Here's what we are reading this morning:

Global Contagion Risk Growing from Rising CRE Losses, Led by Office: Credit trends in global commercial real estate (CRE) loans will continue to deteriorate through 2025, which will impact commercial mortgage backed securities (CMBS), banks, life insurance companies, non-bank financial institutions and public finance issuers, Fitch Ratings says.

The Dollar-Store Showdown Comes Down to Real Estate - WSJ: Dollar General, located mostly in rural areas, plans expansion, while the more urban-focused Family Dollar will close hundreds of stores

WeWork to Save $8 Billion in Rent by Restructuring Leases - WSJ: Co-working space provider WeWork said its lease restructuring effort so far is expected to result in more than $8 billion in future rent savings and that it aims to emerge from bankruptcy by the end of May.

WeWork expects to emerge from bankruptcy by end of May - MarketWatch: WeWork Inc. said Tuesday that after restructuring lease agreements covering nearly 90% of its real-estate portfolio, it expects to come out of bankruptcy by the end of May.

Sacramento latest California diocese to file for bankruptcy | Crux: Facing more than 250 lawsuits alleging the sexual abuse of minors by clergy and other employees since the 1950’s, the Diocese of Sacramento, California, has filed for bankruptcy as a means to provide compensation to victim-survivors of the abuse.

Retailer Express Is Said to Hold Talks for Bankruptcy Financing: Retailer Express Inc. is asking its lenders for funds to help finance a potential Chapter 11 bankruptcy process, according to people with knowledge of the plans.

View, Inc. Reaches Agreement with Cantor Fitzgerald and RXR to Become a Private Company | View, Inc.: View and certain of its subsidiaries will commence prepackaged Chapter 11 cases in the District of Delaware. During this time, View expects its operations to continue as normal. View also expects that trade claims will be unaffected, orders will continue to be fulfilled, and customers will continue to be supported.

Shoes For Crews Files for Chapter 11 Bankruptcy With Sale Plan - WSJ: Lenders led by investment firm Antares Capital will serve as lead bidder, but the maker of slip-resistant footwear will continue to look for higher offers

Former Weil Gotshal Partner Alfredo Perez Tapped as Houston Bankruptcy Judge - WSJ: Alfredo Perez, a retired restructuring partner at law firm Weil Gotshal & Manges, has been tapped to serve as a judge in the U.S. Bankruptcy Court in Houston, according to people familiar with the matter.

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