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Friday, January 8, 2021

Bankruptcy Today Weekender

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

Potential Chapter 11 Filings



Well-Known Chains Are Filing Bankruptcy Amid COVID

Albertsons Laying Off Unionized Delivery Drivers In Pivot To DoorDash

Default Warning As US Energy Sector’s Financial Woes Persist

Iowa Farm Bankruptcies Continue To Rise, Despite Aid

AMC Entertainment Holdings, Inc AMC Lenders Back Chapter 11 Filing By Summer For Avenue To Allege Preferential Transfer For July 2020 Uptiering of 2024 Convertible Notes

Family Video To Close All Stores As Last-Ditch Effort Comes Up Short

Michelin To Cut 2,300 Jobs In France In Shift To New Materials

San Antonio Refinery To Lay Off Entire Workforce - But Hope For Employees Remains

Colleges Have Shed 550,000 Employees Since the Pandemic Began

Santa Cruz Hotel Owner Could Face Bankruptcy

M Resort Lays Off 159 Workers

Kauai Marriott Resort To Layoff 457

Florence Nightingale Nursing Museum Closes For ‘Foreseeable Future’ As Visitor Numbers Collapse

185 Texas Workers Laid Off From Metal Supplier

More Indian Airlines Could Face Bankruptcy In March When Suspension of Law Is Lifted

View All Filings
Retail Restructuring News



The State of Retail Bankruptcies In 2021

2020 Was A Watershed Year For Retail Bankruptcies

JC Penney Is Toast In 2021

New York Women's Fashion Company Jay Godfrey Files For Chapter 7 Bankruptcy

‘Streamlined’ Tuesday Morning Departs Chapter 11

For America’s Retailers, A Mix of Momentum, Hope and Uncertainty

Francesca's Judge Approves Sale Procedures Amid Growing Buyer Interest

Macy’s Is Closing 45 Stores In Big Wave of Its Turnaround Plan

Charming Charlie Continues Brick-and-Mortar Comeback 18 Months After Bankruptcy

Infighting and Egos At JCPenney and the CEO of Newell Brands - Maker of Sharpie and Crock-Pot - Reveals His 2021 Growth Strategy

Former River Bend Golf Club Operator Files For Bankruptcy

Christopher & Banks Inches Closer To the Brink As It Defaults On Multiple Obligations

Notable Filings



Loves Furniture Files For Bankruptcy

Manhattan Gentrifier Stumbles With Rental Apartment Bankruptcies

Landlord of UWS Buildings Files For Bankruptcy

Upper West Side Landlord Owing Over $200M Files For Bankruptcy

Legal Issues



Attention Buyers of Assets in Bankruptcy: How To Be A Good Faith Purchaser and Ensure Any Post-Closing Challenges Will Be Dismissed as Statutorily Moot Under Section 363(m) of the Bankruptcy Code

Bankruptcy Code Temporarily Tilts In Favor of Supplier and Landlord Preference Defendants

Eleventh Circuit Finds SBA Can Deny Payment Protection Program Loans To Debtors In Bankruptcy

Amendments To the Bankruptcy Code

New COVID-19 Relief Law Includes Limited Bankruptcy Protections Regarding PPP Loans

Feature Articles



French and US Bankruptcy Sales Compared

Navigating Chapter 11 Reorganizations During COVID-19: New Complications Or Business As Usual?

Retail Rents Tumble To Historic Lows In New York City Amid Bankruptcies and Store Vacancies

Bankruptcy Implications of New COVID-19 Legislation

Corporate Bankruptcies End 2020 At 10-Year High

Informal But Actual Notice of Bankruptcy: What Difference Does It Make?

The Automatic Stay-The Ultimate Creditor Protection

Debtors Still Left In Doubt As To Availability of PPP Loans

Report Filed On Southern Vermont College Property Sales

Malaysia Airlines' Debt Restructuring Nears Completion - Parent Company

Frontier Agrees To Fiber-Network Expansion In Plan To Exit Bankruptcy

What To Do When Commercial Leases End Up In Bankruptcy

JCPenney, Pier 1 Imports, Chuck E. Cheese’s, Friendly’s, Other Chains Filed For Bankruptcy In 2020

After Burning Through $2 Billion, KATERRA Gets A $200 Million SoftBank Lifeline To Escape Bankruptcy

COVID, Oil Glut Behind Many Small Trucking Companies’ Bankruptcies In 2020

24 Hour Fitness Successfully Completes Chapter 11 Process; Emerges With Strengthened Capital Structure

CEC Entertainment Successfully Completes Financial Restructuring

Proofs of Claim: Don’t Rely On the Mailbox Presumption - Be Sure Claims Are Filed By the Bar Date With the Court Clerk Or the Claims Agent

Full-Service Restaurant Sales To Remain Sluggish This Quarter

Parent Company of Chuck E. Cheese Sheds $705 In Debt As It Exits Bankruptcy

Tenants of Bankrupt NYC Apartments Seek Cash To Fix Rat Woes

After Bankruptcy Warning, Owner of 6 Southern California Hotels Gets New Financing

Covia Emerges From Chapter 11 Bankruptcy, Slashes $1B In Debt

Four Bank Failures In 2020

Future Uncertain For Financially Troubled Clearwater Mall

CCRC Clare Oaks Exits Bankruptcy With $40M Less Debt, New Operator

Offshore Drilling Firm Emerges From Chapter 11 Bankruptcy

Peabody Energy Buys Itself Time Amidst Bankruptcy Risk

White Stallion Energy Bankruptcy Faces Fresh Delays After Lender Switch

Big Owner of Several Bay Area Hotels Lands Financing Package After Bankruptcy Warning

Parent Company of Chuck E. Cheese Sheds $705 In Debt As It Exits Bankruptcy

In re Buffets: A Fees-t for the United States Trustee

More Than Half of US Companies Are Under Financial Or Operational Stress and 14% Are In Distress As Pandemic's Economic Impact Deepens

Pandemic Spurs Most Bankruptcy Filings Since 2009

U.S. Bankruptcy Filings Hit 35-Year Low Thanks To Government Pandemic Aid

It's Chapter 22, and More Restructuring, For A Chicago-Area Senior Home

Illinois CCRC Clare Oaks Emerges From Bankruptcy With Less Debt, New Management

Parent Company of Capital City Mall Emerges From Bankruptcy

Wendy’s and Flynn Come To Terms On NPC’s Bankruptcy Sale

Revlon Avoided Bankruptcy. Now What?

'The Vultures Are Swooping.' Trustee Named To Girardi Keese Bankruptcy

Garrett Motion Creditors Balk At Equity Group bid For Fee Reimbursement

Malaysia Airlines Seeks UK Court To Complete Debt Restructuring By 1Q

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