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Monday, June 22, 2020

Welcome to the Bankruptcy
Today Newsletter.

Your daily access to recent significant Chapter 11 case filings, relevant restructuring news and samples of some of our current distressed company profiles.

Featured Recent Filings

CourtFiledDebtorCase NoAttorneyAssetsLiabilities
D. Del.6/20/2020AAC Dallas Outpatient Center, LLC20-11616Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020AAC Healthcare Network, Inc.20-11647Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020AAC Las Vegas Outpatient Center, LLC20-11614Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020AdCare Criminal Justice Services, Inc.20-11642Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020AdCare, Inc.20-11643Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Addiction Labs of America, LLC20-11646Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020American Addiction Centers, Inc.20-11635Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Behavioral Healthcare Realty, LLC20-11629Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Diversified Healthcare Strategies, Inc.20-11641Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020New Jersey Addiction Treatment Center, LLC20-11611Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Oxford Outpatient Center, LLC20-11609Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Oxford Professional Group, P.C.20-11653Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Oxford Treatment Center, LLC20-11608Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020Recovery Brands, LLC20-11631Dennis A. Meloro$100M - $500M$100M - $500M
D. Del.6/20/2020San Diego Addiction Treatment Center, Inc.20-11619Dennis A. Meloro$100M - $500M$100M - $500M
S.D. Tex.6/19/2020Juniper Specialty Products LLC20-33109Brian A. Kilmer$10M - $50M$10M - $50M
S.D. Tex.6/19/2020SGCE LLC20-33110Brian A. Kilmer$1M - $10M$500k - $1M
W.D. Mo.6/19/2020KM-T.E.H. Realty 10, LLC20-41151Kent Dryer$1M - $10M$1M - $10M
M.D. Tenn.6/19/2020Byrd Family Properties20-03017Gray Waldron$1M - $10M$1M - $10M
M.D. Tenn.6/19/2020MH, D.M.D. of Tennessee, PLLC (Second Filing)20-03032Gray Waldron$100k - $500k$500k - $1M

View All Filings
Featured Article

A Tidal Wave of Bankruptcies Is Coming

Already, companies large and small are succumbing to the effects of the coronavirus. They include household names like Hertz and J. Crew and comparatively anonymous energy companies like Diamond Offshore Drilling and Whiting Petroleum.

And the wave of bankruptcies is going to get bigger.

Edward I. Altman, the creator of the Z score, a widely used method of predicting business failures, estimated that this year will easily set a record for so-called mega bankruptcies — filings by companies with $1 billion or more in debt. And he expects the number of merely large bankruptcies — at least $100 million — to challenge the record set the year after the 2008 economic crisis.

Even a meaningful rebound in economic activity over the coming months won’t stop it, said Mr. Altman, the Max L. Heine professor of finance, emeritus, at New York University’s Stern School of Business. “The really hurting companies are too far gone to be saved,” he said.

Many are teetering on the edge. Chesapeake Energy, once the second-largest natural gas company in the country, is wrestling with about $9 billion in debt. Tailored Brands — the parent of Men’s Wearhouse, Jos. A. Bank and K&G — recently disclosed that it, too, might have to file for bankruptcy protection. So did Weatherford International, an oil field services company that emerged from bankruptcy only in December.

Read the full article

The New York Times by Mary Williams Walsh. Published June 18, 2020.

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