Bankruptcy & Restructuring News Headlines for Wednesday Jun 23, 2021

Here's what we are reading this morning:

With $200M from private equity, Saks Off 5th online will go it alone | Retail Dive: Owner HBC earlier this year similarly split up its full-line operations at Saks Fifth Avenue, and is hanging onto all its Saks-related real estate.

U.S. existing home sales May 2021: Sales of existing homes fell 0.9% in May to a seasonally adjusted annualized rate of 5.8 million units, according to the National Association of Realtors.

White Plains warned about looming $1.7M default on City Center garage bonds: The city of White Plains has been warned of a projected $1.7 million shortfall in revenues from the City Center garage and a looming payment default on the municipal bonds that financed the garage that could damage the city's financial reputation.

Troubled Companies Take Page From AMC Playbook in Seeking Stock-Market Lifelines - WSJ: Earlier this month, coal miner Peabody Energy Corp., offshore drilling contractor Transocean Ltd. and retailer Express Inc., all announced plans to sell stock, betting equity markets will support them despite heavy debt loads, recent losses and industry headwinds.

Zohar Funds Seek Answers on Defunct Company’s $16 Million Cash Pile: The bankrupt Zohar investment funds are again at odds with their creator, Lynn Tilton, over another of the companies to which they lent money, this time clashing over the proceeds of the 2016 wind-down of former textile manufacturer Galey & Lord.

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