Bankruptcy & Restructuring News Headlines for Wednesday May 5, 2021

Here's what we are reading this morning:

Stiffed Vendors Get Tough With U.S. Retailers After Big Losses - Bloomberg: Credit insurance and factoring companies are retreating, too

Tailored Brands taps retail veterans for uphill turnaround | Retail Dive: Former J.C. Penney chief merchant John Tighe was named chief customer officer, Nike and Gap veteran Karla Gray is chief stores officer and Lowe's stores chief Tim Cooksey is senior vice president of real estate, according to a company press release.

What's next for Destination XL after last year's calamity in menswear? | Retail Dive: The big-and-tall specialist's sales shrank by nearly a third in 2020 as offices went dark and events were nixed. Executives discuss how they navigated the turmoil.

A Recent Ruling that Shari’a Compliant Investment Agreements Do Not Qualify for Safe Harbor Treatment May Have Broader Implications | Dechert LLP - JDSupra: In a first, the Bankruptcy Court for the Southern District of New York in the Arcapita Bank case had to decide whether Shari’a compliant investment...

Auto Makers Retreat From 50 Years of ‘Just in Time’ Manufacturing - WSJ: Pressured by the pandemic, the hyperefficient supply-chain model pioneered by Toyota is under assault.

Why Mexico’s Shadow Banks Are Raising Investor Fears - Bloomberg: Bonds for a range of lenders plummeted on fears of what else might be lurking in the sector -- fears compounded by the deep cuts made to Mexico's financial regulator last year.

Cosi Seeks Bankruptcy Fast Track to Access Covid Relief Funds: Cosi Inc. is seeking to accelerate its bankruptcy case in order to have a shot at federal funds available to restaurants struggling during the pandemic.

Hertz Picks New Front-Runners to Back Exit From Bankruptcy: Hertz Global Holdings endorsed a bid from Knighthead Capital Management and Certares Management to back the company’s exit from chapter 11, judging their restructuring proposal to be superior to a rival group’s offer, people familiar with the matter said.

Equinox Said to Discuss Going Public Via Social Capital SPAC - Bloomberg: Equinox Holdings, the luxury gym operator, has held talks to go public by merging with a blank-check company backed by investor Chamath Palihapitiya, according to people with knowledge of the matter.

Goldman Sachs to Call Workers Back to Office by June - The New York Times: Most employees at the big banks have been working from home since the pandemic began last year, but Goldman’s plans signal that some executives are eager to attempt a return to office life.

Trepp Reports on the Status of Loans That Were Delinquent During Height of the Pandemic: To better understand what happened to CMBS loans that became newly distressed due to the pandemic, Trepp examined the pool of loans that became delinquent during the first three months of the COVID-19 crisis.

Hertz Confirms Receipt Of Revised Reorganization Proposal For Its Chapter 11 Exit: Hertz Global Holdings Inc. (OTCPK:HTZGQ) confirmed today that it has received a revised proposal from affiliates of Knighthead Capital Management LLC, Certares Opportunities LLC, and Apollo Capital Management, LP to provide equity capital required to fund Hertz's exit from Chapter 11.

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