Bankruptcy & Restructuring News Headlines for Wednesday Nov 1, 2023

Here's what we are reading this morning:

Stroock & Stroock & Lavan LLP To Dissolve, Ending 147-Year Run - Law360: Partners at Stroock & Stroock & Lavan LLP have voted to dissolve the firm and its management will implement plans to put the 147-year-old New York-based law firm to rest, according to an internal memo reviewed by Law360 Pulse on Tuesday.

How Eight Straight Rainy Weekends Devastated Apple-Picking Farms - The New York Times: Eight straight weekends of rain have pushed the pick-your-own orchards toward financial disaster.

WeWork to withhold interest payment on some notes: Debt-laden WeWork said on Tuesday it has decided to withhold interest payment of about $6.4 million on some of its notes as the flexible workspace provider looks to improve its balance sheet.

Simon Property Group reduces stake in Forever 21 operator Sparc | Retail Dive: CEO David Simon said the mall REIT will continue to monetize its retailer holdings due to their volatility.

Serta Simmons CEO Charlie Eitel resigns after 3 months | Retail Dive: Board chair Mark Genender will serve as interim CEO. The company exited Chapter 11 in June and appointed a new board of directors at that time, including both Eitel and Genender. Eitel was then named CEO in July.

Zillow Stock Falls on Missouri Verdict on Real Estate Brokerage Commissions - Bloomberg: Lawsuits have challenged system for paying real estate agents; Realtors group, brokerage say they will appeal the decision

Yellow’s Rivals Are Getting a Boost From the Trucker’s Demise - WSJ: The collapse of one of the largest U.S. trucking companies is propping up competitors in a lean freight market.

WeWork Plans to File for Bankruptcy as Early as Next Week - WSJ: Once a venture capital-backed star with an astronomical valuation, the flexible-office-space provider is now preparing for chapter 11 protection, according to sources.

WeWork Holds Leverage Over Landlords in Threatened Bankruptcy: Coworking giant WeWork is flirting with bankruptcy, raising the prospect that its hundreds of landlords around the world could be forced to give it lease concessions.

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