Bankruptcy & Restructuring News Headlines for Wednesday May 15, 2024

Here's what we are reading this morning:

AMC completes $250 million stock sale during meme rally: The movie theater operator sold 72.5 million shares in an at-the-market equity offering that it launched on March 28.

Top-Ranking Lenders See Diminishing Recoveries in Bankruptcy - WSJ: First-lien creditors in bankrupt companies are getting less than half their money back in some chapter 11 cases

A Famed Car Designer’s Doomed Attempt to Challenge Tesla - WSJ: Henrik Fisker’s electric-vehicle startup burned through cash and struggled to make and sell an auto

The Container Store faces delisting as Q4 sales plunge | Retail Dive: The Container Store on Tuesday reported that consolidated Q4 net sales fell 20.7% year over year to $206 million, with the company’s retail business, TCS, net sales down 20.4% to $195.3 million. E-commerce was down 30.8% and store comps fell 21.8%

Red Lobster Preparing to File for Bankruptcy Protection This Month - WSJ: Casual-dining chain aiming to restructure agreements with landlords and creditors to trim debt

UBS announces equity conversion provision for almost $5 billion in AT1 debt | Reuters:

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