Bankruptcy & Restructuring News & Analysis — Conductor
Boston Apartment Complex With 95% Occupancy Files for Bankruptcy After Landlord Dispute
The Bon Morro, LLC and affiliated entities filed for Chapter 11 bankruptcy protection despite maintaining 95% occupancy and generating $17 million in annual residential rent
Solar Developer Pine Gate Renewables Seeks Court Approval to Pay $168 Million to Critical Vendors
Pine Gate Renewables, a utility-scale solar farm developer, is seeking bankruptcy court approval to pay up to $168.1 million to critical project vendors to maintain operations during its Chapter 11 restructuring
Eastern Mountain Sports Parent Files Liquidation Plan With Minimal Creditor Recoveries
Mountain Sports LLC, parent of Eastern Mountain Sports and Bob's Stores, filed a liquidation plan offering general unsecured creditors recoveries of less than 3%. The outdoor retailer sold substantially all assets to Mountain Warehouse after filing Chapter 11 bankruptcy in June 2024
Former Big Lots Seeks to Convert Bankruptcy Case to Liquidation After Chapter 11 Sale Process
Former Big Lots has filed to convert its Chapter 11 bankruptcy case to liquidation after administrative costs reached $60 million. The retailer successfully sold substantially all assets to Gordon Brothers Retail Partners, preserving thousands of jobs and the Big Lots brand.
Simon Property Group Objects to Razzoo's Restaurant Chain DIP Financing Over Unpaid Rent
Simon Property Group has objected to Razzoo's restaurant chain's bankruptcy financing plan, arguing the budget fails to include post-petition rent payments and forces landlords to serve as involuntary creditors. The major shopping center owner seeks adequate protection while not opposing the DIP financing generally.