Bankruptcy & Restructuring News Headlines for Wednesday May 17, 2023

Here's what we are reading this morning:

The Return to the Office Has Stalled - WSJ: Many companies have settled into a hybrid work strategy that shows little sign of fading, putting pressure on cities that are suffering from declining real-estate values.

How 4.3 million crypto investors lost $46 billion in 5 months: The speed of the bank runs against FTX, Celsius, Voyager, BlockFi and Genesis was historic because customers were able to withdraw their funds instantly.

Birchbox Assets Purchased from FemTec Health by Retention Brands: In an open bid process, the company's Birchbox assets were purchased by Retention Brands through an assignment for the benefit of creditors.

Century 21 reopens flagship store in NYC | Retail Dive: The company was an off-price staple for 60 years before the COVID-19 pandemic pushed it into Chapter 11 bankruptcy. 

Large Investors Led 2022 Crypto Withdrawal Crisis on Celsius, FTX: Chicago Fed - Bloomberg: Last year’s run on crypto platforms like lender Celsius Network were “spearheaded by customers with large holdings, some of which were sophisticated institutional customers,” according to research from the Federal Reserve Bank of Chicago.

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