Bankruptcy & Restructuring News Headlines for Wednesday Sep 21, 2022

Here's what we are reading this morning:

Gap Is Cutting 500 Corporate Jobs - WSJ: Gap is eliminating about 5% of headquarters staff as it moves to reduce expenses amid declining sales and profits.

Home-Goods Retailers Jolted by Slowdown in Housing Market - WSJ: The cooling housing market is threatening demand for items such as appliances, furniture and curtains.

Binance and FTX Make Top Bids for Bankrupt Lender Voyager - WSJ: The exchanges both made bids near $50 million. Voyager’s market cap was $3.9 billion in 2021

Wall Street Banks Set to Lose About $600 Million on Citrix Debt (CTXS) - Bloomberg: Wall Street banks are poised to realize roughly $600 million of losses after offloading financing commitments for the buyout of Citrix Systems Inc. to investors Tuesday, the culmination of months of work to try and mitigate the damage from underwriting pledges made early in the year before a sharp repricing of risk assets.

China's LVMH Wannabe Unravels After Tycoon's Failed $3 Billion Bet - Bloomberg: A Chinese LVMH wannabe spent billions buying up global luxury fashion brands, but its deal spree is now unraveling.

Voyager Auction Update from UCC: Voyager Official Committee of Unsecured Creditors: "The auction has just adjourned for the day and will pick up again tomorrow."

Bankruptcy Judge Orders Independent Review of Alex Jones’s Infowars Over Conflicts - WSJ: A Texas bankruptcy judge refuses to let professionals picked by Alex Jones manage Infowars through chapter 11.

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