Bankruptcy & Restructuring News & Analysis — Conductor

Wellpath Holdings has filed an amended Chapter 11 plan in Texas bankruptcy court, proposing a comprehensive restructuring that includes debt-to-equity conversion, new financing, and the establishment of a liquidating trust. The healthcare services provider's plan features a significant equity financing component and introduces a seven-year contingent value right agreement to benefit creditors.

Accuride Corporation has filed its Second Modified Amended Joint Plan of Reorganization in Delaware Bankruptcy Court, proposing a comprehensive restructuring that includes new financing arrangements, equity redistribution, and treatment of various creditor classes. The plan, supported by key stakeholders, outlines the company's path to emerging from Chapter 11 bankruptcy protection.

Franchise Group Inc. has filed its Fourth Amended Chapter 11 Plan in Delaware bankruptcy court, outlining a comprehensive restructuring strategy that includes both potential asset sales and debt-to-equity conversion mechanisms. The plan implements a recent settlement with creditors and establishes two litigation trusts to pursue claims post-emergence.

Zips Car Wash, operating over 260 locations across 23 states, has filed for Chapter 11 bankruptcy protection with a pre-negotiated plan to reduce its debt by $279 million. The company enters bankruptcy with full support from its lenders and plans to maintain normal operations throughout the restructuring process, which is expected to complete within 65 days.

Franchise Group, Inc., operator of retail brands including The Vitamin Shoppe and Pet Supplies Plus, has filed its disclosure statement detailing plans to restructure nearly $2 billion in debt through its Chapter 11 bankruptcy process. The company's comprehensive plan includes potential debt-to-equity conversions and strategic asset sales as it navigates challenging retail market conditions.