Here's what we are reading this morning:
California Resources Is Preparing Near-Term Bankruptcy Filing - WSJ
Bankrupt Retailers Stand to Pocket Millions From Unused Gift Cards - WSJ
American Dream Leaves Clan Behind Mall Empire Mired in Debt - Bloomberg
U.S. Job Market Rapidly Healing in June, Fed Researchers Say - Bloomberg
Signet Jewelers "will not reopen at least 150 North America stores and 80 UK stores. Further, Signet is committed to closing at least an additional 150 stores by the end of the fiscal year"
Ares Says Risk of Distress for Small Business Is Underestimated - Bloomberg
Shoppers Surprise Retailers by Returning to Stores - WSJ
Serta Simmons Proposes $400 Million Debt-Cutting Deal - WSJ