Bankruptcy & Restructuring News Headlines for Wednesday Aug 23, 2023

Here's what we are reading this morning:

The Upheaval at America’s Disappearing Nursing Homes, in Charts - WSJ: Patients spend months waiting in hospitals for nursing-home beds. The U.S. has at least 600 fewer nursing homes than it did six years ago, according to a WSJ analysis of federal data.

404 Media Is New Tech Site by Ex-Staff of Vice’s Motherboard - The New York Times: After watching Vice Media descend into bankruptcy this spring, a group of journalists from its popular tech brand, Motherboard, decided that the best way to do their work in a financially sustainable way was to strike out on their own.

LL Flooring Stock Slides After Founder Tom Sullivan Rescinds Second Buyout Offer - Bloomberg: In a filing to the US Securities and Exchange Commission, Tom Sullivan said he sent a letter to the company, formerly known as Lumber Liquidators, rescinding his offer “in light of LL’s deteriorating financial and operational performance and eroding value,” following its 2023 second quarter earnings results.

RadioShack’s NSFW Period Appears Over, as New Owner Plots a Brand Expansion - WSJ: Unicomer aims to reboot the retailer’s website and add a new program for dealer-operated locations in a shift from a strategy focusing on younger customers and crypto.

Opinion | The Supreme Court should bless the Purdue Pharma settlement - The Washington Post: Anthony Casey is a law professor at the University of Chicago and director of the school’s Center on Law and Finance. Edward Morrison is a law professor at Columbia University and a member of the National Bankruptcy Conference and a director of Columbia’s Richman Center for Business, Law and Public Policy.

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