Bankruptcy & Restructuring News & Analysis — Conductor

Bertucci's Restaurants has filed for bankruptcy protection for the third time since 2018, highlighting the persistent challenges facing traditional casual dining chains as they navigate changing consumer preferences and economic pressures. The Italian restaurant chain has dramatically reduced its footprint from 59 locations in 2018 to just 15 today, and is now exploring a fast-casual concept as a potential path to survival

Bankrupt EV truck maker Nikola Corp. seeks to sell valuable environmental credits with PACCAR offering $8.9 million as the stalking horse bidder. The company has retained STX Commodities LLC to conduct a competitive sale process with final bids due May 19 and a court hearing scheduled for May 30

Idaho bankruptcy judge Noah G. Hillen has ruled on competing disclosure statements in the Millenkamp Cattle reorganization case, requiring additional disclosures about potential $100 million in rejection damages claims and other issues. The ruling advances the complex agricultural bankruptcy case toward creditor voting on competing reorganization plans proposed by the Debtors and creditor Rabo AgriFinance

The world's oldest latex balloon manufacturer, Continental American Corporation, has filed a liquidation plan in Kansas bankruptcy court after selling its multinational operations last year. The plan establishes a Liquidating Trust to pursue remaining legal claims and distribute proceeds to creditors, with a confirmation hearing scheduled for June 12, 2025

A bankruptcy trustee for Kelham Vineyard & Winery has proposed selling the remaining assets to family insiders for $1.2 million to resolve extensive litigation in this Napa Valley winery's bankruptcy case. The deal includes $400,000 cash plus claim releases, subject to a June auction where overbidders must start at $1.3 million with significant indemnification requirements