Bankruptcy & Restructuring News Headlines for Wednesday Oct 2, 2019

Here's what we are reading this morning:

John Lewis axes third of top jobs in restructuring - BBC News

Inside the new Uber: Weak coffee, vanishing perks and fast-deflating morale - The Washington Post

More closures likely at US met coal mines soon, analyst says | S&P Global Market Intelligence

Foresight Energy elects to exercise the 30-day grace period with respect to $24.4 million interest payment

The Seven-Year Auto Loan: America’s Middle Class Can’t Afford Their Cars - WSJ

School district woes could spell downgrade for Rochester, N.Y. | Bond Buyer

As Bankrupt Steelmaker Closes Plant, Governor Points to Tariffs - Bloomberg

Macy’s is closing its landmark downtown Seattle store in February | The Seattle Times

Global Trade Is Deteriorating Fast, Sapping the World’s Economy - The New York Times

Andrew W. Park: "UBS analysts undid some of these questionable "EBITDA add-backs", suggesting that an absurd 55% of leveraged loans this year could have leverage greater than 7.0x (Regulators once set the line in the sand at 6.0x)" / Twitter

Opioid Maker Mallinckrodt Changes Management Severance to Lump-Sum Payments - WSJ

Here's a map of the Forever 21 stores set to close

US manufacturing survey contracts to worst level in a decade

Scoop: WeWork looking to sell even more of its acquisitions - Axios

Newseum in D.C. closing at end of year due to financial struggles

Vincent Ryan: "Fitch has downgraded WeWork Companies LLC and We Co. by two notches to 'CCC+' following the company's formal withdrawal of its IPO registration statement. Fitch has also downgraded the senior unsecured note rating to 'CCC'/'RR5'. The Rating Outlook is Negative."

uBiome Converts Chapter 11 Case to Chapter 7 Petition; Company to Cease Operations and Liquidate

Foresight Energy Skips Interest Payment to Bondholders, Lenders & Bondholders Reportedly Retain Financial Advisors - WSJ

Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Results of Operations and Financial Condition (Item 2.02) for the Week Ended Tuesday Oct 1, 2019

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