Bankruptcy & Restructuring News Headlines for Wednesday Feb 28, 2024

Here's what we are reading this morning:

Macy’s to close 150 more stores in 3 years | Retail Dive: New CEO Tony Spring said underperforming stores must close even if they are cash-flow positive, telling analysts: “The bar has now been raised.”

Crypto Lender Genesis Wins Court Approval of SEC Settlement: Failed crypto lender Genesis Global Holdco LLC won bankruptcy court approval of a settlement with the US Securities and Exchange Commission resolving a government lawsuit alleging the company’s now terminated Gemini Earn program violated securities rules.

SimpleClosure Announces $4M Seed and 14x Growth Post-Launch | Business Wire: Fresh funding for the automated business-closure platform comes just months after pre-seed round

Former CEO of Jewelry Seller Linked to Bank Scandal Sued to Undo Real Estate Deal - WSJ: The trustee liquidating Firestar Diamond says the chief executive transferred his interest in a New York residence to keep it from creditors

Thrasio Takes Steps to Strengthen Financial Position: Initiates Pre-Arranged Chapter 11 Process with Support from Lenders to Significantly Reduce Debt and Facilitate Comprehensive Balance Sheet Restructuring

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