Bankruptcy & Restructuring News & Analysis

A bankruptcy court has approved the sale of genetic-testing company 23andMe to a non-profit founded by its co-founder Anne Wojcicki for $305 million, despite privacy objections from five states. The innovative transaction structure allows for the transfer of genetic data from 13 million customers without requiring individual consent, while maintaining existing privacy protections

The parent company of CareerBuilder and Monster.com has filed for Chapter 11 bankruptcy protection while securing $35.5 million in stalking horse bids for its three business segments. The expedited sale process is expected to conclude by late July, with the goal of preserving hundreds of jobs across the company's job board, media, and government services divisions

Once the world's largest Montessori school operator with over 150 locations, Higher Ground Education has filed for Chapter 11 bankruptcy after foreclosures reduced its operations to just seven schools. The pre-arranged plan features 2HR Learning as plan sponsor, providing $8 million to fund the reorganization and offering recovery to unsecured creditors

Hooters of America is seeking bankruptcy court approval for a $6 million break-up fee to protect potential buyers amid competing offers for 103 restaurant locations. The emergency motion reflects the complex restructuring of the iconic restaurant chain, which filed for Chapter 11 protection in March 2025

Party City Holdco Inc. has filed for its second bankruptcy in just over a year, proposing a complete liquidation plan after failed turnaround efforts since emerging from Chapter 11 in October 2023. The iconic party retailer is seeking creditor approval for asset distributions while warning that administrative creditors must accept reduced payments for the plan to succeed