Bankruptcy & Restructuring News & Analysis
Pinstripes Entertainment Chain Files for Bankruptcy, Seeks Fast-Track Sale to Preserve 900 Jobs
Pinstripes Holdings Inc., the "eatertainment" chain combining Italian-American dining with bowling and bocce, filed for Chapter 11 bankruptcy seeking a fast-track sale to preserve 900 jobs. The company is pursuing a $16.6 million stalking horse bid from its largest creditor while operating just eight of its original 18 locations
Bankrupt Biologics Manufacturer Alachua Government Services Seeks Court Approval for Asset Sale
Bankrupt biologics manufacturer Alachua Government Services has filed for court approval to sell its Florida manufacturing facilities, including a 183,000-square-foot advanced development facility. The sale faces complications from approximately 800 pieces of government-owned equipment at the site, with an October 15 deadline to complete the transaction due to liquidity constraints
The Best of the Rest - More Pleadings Worth Reading from the Last Week
Details of four additional pleadings filed last week that caught our attention, with links to view the pleading including a copy of our new AI-powered summary attached.
Ohio Aerospace Manufacturer CTL-Aerospace Files Chapter 11
CTL-Aerospace, a Cincinnati aerospace manufacturer with $70 million in annual sales and 290+ employees, filed Chapter 11 bankruptcy after raw material quality issues led to $2.1 million losses and conflicts with lender Wells Fargo. The company seeks to preserve operations while restructuring approximately $15 million in debt.
Genesis Healthcare Seeks Court Approval to Extend $172 Million Facility Purchase Deadline
Genesis Healthcare is seeking bankruptcy court approval to pay extension fees to preserve its $172 million option to purchase ten healthcare facilities from NextGen, despite ongoing disputes over the transaction. The company argues it needs more time to align the purchase with its broader asset sale process, which won't conclude until 2026