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Friday, November 6, 2020

Bankruptcy Today Weekender

Catch up on relevant current restructuring news, case filings, legal issues and developments.

Potential Chapter 11 Filings



Layoffs Are Spreading Faster, As Some Firms Quietly Cut Ranks

Katten Muchin Lays Off Some Lawyers and Business Professionals

Biglaw Firm Lays Off Attorneys To Ensure the Firm’s ‘Continued Success’

American Cable Television, AMC Looking To Raise Funds Amidst Fears of Bankruptcy

AMC Seeks Stock Sale To Raise $50 Million To Stave Off Bankruptcy

Lionsgate Cuts 15% Of Global Motion Picture Group

ESPN To Cut 300 Jobs, Eliminate 500 Positions Overall As It Reaches Digital “Inflection Point”

Disneyland Is More Than A Job For Some Workers. A Wave of Layoffs Hit Sunday

Disney Studio Division, Including Searchlight, Also Hit With Layoffs Following ESPN Cuts

These Are the Airlines Teetering On the Brink of Covid Ruin, Shows Data From Z-score Bankruptcy Gauge

Aeromexico Seeks Approval To Fire 1,830 Workers, Eyeing $44 Million In Annual Savings

Thai Airways Sends 5000 Employees Into Early Retirement, Financial Reserves To Run Out By December

Lufthansa Warns of Higher Cash Drain, Restructuring Costs In Fourth Quarter

Kuwait’s Jazeera Airways Cuts Jobs As Virus Slams Travel Demand

Nok Air Gets Green Light To Restructure Debt

Malaysia's AirAsia X Revises Debt Restructuring Plan To Address Creditor Concerns

Turbulent Times For Southeast Asia’s National Airlines

Cruise-Line Group Extends Voluntary Suspension Through December

These Are the Airlines Teetering On the Brink of Covid Ruin, Shows Data From Z-score Bankruptcy Gauge

Netherlands Puts KLM Bailout On Hold After Pilots Reject Wage Freeze

Easyjet Looking At Financing Options, Not Against State Aid

Sizable Revlon 2021 Noteholder Icahn Capital On Sidelines of Proposed Exchange Offer

Lloyds Cuts 730 More Tech, Retail Jobs As Restructuring Deepens

Transocean Is Moving Closer To Bankruptcy Quarter After Quarter

BP Close To Selling London HQ To Cut Costs

Hanes Plummets As Champion Owner Announces Business Review

Austin’s National Instruments To Cut Global Staff By About 650

View All Filings
Retail Restructuring News



Nike Increases Layoffs At Headquarters To 700

The State of Small Business In Retail

5 Forces That Stripped Apparel Sales In the Last Decade

Turning Dead Malls Into Community Assets

Mall Shakeout Just Beginning As Complex Debt Drowns Owners

Why the Holidays May Upend American Malls

Chico's Shores Up Finances, Digital Operations Amid Store Closures

J.C. Penney Settles With Lender Group Ahead of Sale Hearing

Malls Dragged Into Bankruptcy By Carnage Among Retail Tenants

Cash-Strapped MTA Agrees To Rent Relief Plan For Struggling Retail Tenants

Online Sales Are Set To Surge At An Unprecedented Rate This Holiday Season As Shoppers Avoid Stores and Buy Online In Droves

How Years of Investor-friendly Finance Left Retailers Vulnerable To Crisis

The State of Small Business in Retail

Americans Show They’re Eager To Shop Even As Pandemic Stretches On, Retail Economist Says

Cinemas and Gyms Continue To Withhold Rent In Blow To Mall Owners

Between COVID-19 and A Bankruptcy, Fate of Downtown Brooks Brothers Store Hangs In the Balance

Empty Stores, Loss of Shoppers: Stroud Mall Owner Files For Bankruptcy

Tuesday Morning Sells Its Dallas Real Estate As It Plans To Exit Bankruptcy With Publicly-traded Shares

John Lewis To Cut Up To 1,500 More Jobs

Sainsbury Plans 3,000 Job Cuts As U.K. Retail Toll Grows

Pet Valu To Wind Down US Operations, Close All 358 Stores

Shoe Seller Clarks Strikes Deal To Be Taken Over By Private Equity Firm

Notable Filings



Pandemic Pushes CBL and PREIT Into Bankruptcy

Two Major Mall Owners File For Bankruptcy

Owners of Tyler Perry’s Previous Studio File For Chapter 11 Bankruptcy Protection

Gorham Paper Mill Files For Bankruptcy

Furniture Factory Outlet Files For Bankruptcy

Atlanta's Areu Studios Files For Chapter 11 Bankruptcy

Friendly's Files For Bankruptcy and Will Be Sold For $2 Million

Mallinckrodt’s $275 Million In Settlements Results In Filing For Bankruptcy

1,000-Bed CCRC Henry Ford Village Files For Bankruptcy Amid Covid-19 ‘Perfect Storm’

Pacific Drilling Files For Chapter 11 Bankruptcy Again

Legal Issues



Bankruptcy Court Upholds Indian Tribe’s Sovereign Immunity

Wisconsin Applebee’s Franchise Owner Moves To End Bankruptcy After Settlement With Lender

SVC Bankruptcy Trustee To Consider Purchase Offers

Bankruptcy Court Rules That A Traded Claim Can Be Disallowed If the Seller Received A Voidable Transfer

New Rulings Against Midstream Gatherers Further Dividing the Courts Regarding Covenants Running With the Land

2 Accused Predator Priests May Be Deposed Despite New Orleans Church's Bankruptcy Case

Deadline For Survivors of Sexual Abuse To File Against the Boy Scouts of America Approaching

Ohio Consumer Groups Fight FirstEnergy Motion To Prevent Executive Deposition In Bribery Investigation

The Barton Doctrine After Dismissal: Protection Denied

PG&E Fire Victim Trust Will Start Paying Out Bankruptcy Settlement Funds

New Houston Bankruptcy Court Decision In Chesapeake-ETC Dispute Provides Alternative Paths For Challenging Midstream Contracts

Chesapeake Energy Restructuring Moves Forward As Creditors Challenge Valuation

LeClairRyan Bankruptcy Trustee Targets $10M Management Insurance Policy In Asset Hunt

Feature Articles



U.S. States Face Biggest Cash Crisis Since the Great Depression

White Collar Layoffs Are Coming

U.S. Manufacturing Near Two-year High; Road Ahead Difficult

Personal Bankruptcies Expected To Rise As Pandemic Programs Expire

The Fall of An Empire

Governmental Aid May Be Key To Rescuing Airlines On Brink of Covid Ruin

Bankruptcy Filings Decreased By 21% In the Past Year, But Trouble Might Lie Ahead

No Let Up For Oil and Gas Borrowers

First-Lien Recoveries Strong for Health, Food, Consumer

The Restaurant Chain Bankruptcy Wave Is Far From Over

U.S. Cities In the Most Financial Distress

Pandemic, Oil Crash Trigger Bankruptcies In Corporate America

Weinstein Co. Bankruptcy Plan Headed To A Vote By Accusers

Update On Churches Filing Chapter 11 Bankruptcy

Bankrupt Stein Mart Gets $4 Million Bid for IP From E-Com Investors Who Snapped Up Modell’s

COVID-19 Slams Old-School Restaurant Chains From Ruby Tuesday To Chuck E. Cheese

Chuck E. Cheese OK'd To Solicit Creditor Votes For Restructuring

In Wake of DIP Approval, Hertz Anticipates ‘Imminently’ Obtaining ABS Commitment To Finance 2021 Fleet Build

How Planet Fitness Could Survive Covid-19 While Other Gyms Go Bankrupt

Discharging Student Loans In Bankruptcy-Could It Soon Get Easier?

Alleged Fraudster's Incredible Car Collection Sells For $44M In Bankruptcy Auction

Can A Lease Terminated Under State Law Be Revived In the Tenant's Bankruptcy?

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