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Bankruptcy Today Weekender
Catch up on relevant current restructuring news, case filings, legal issues and developments.
Corporate Restructuring Headlines
| Poshmark Lays Off Employees Just Two Months After Being Acquired by Naver |
| Ericsson to Lay Off 8,500 Employees |
| Twitter Lays off At Least 50 in Relentless Cost Cuts |
| Major Burger Chain and McDonald’s Rival Closes Dozens of Outlets After Bankruptcy Threat |
| Warner Bros. Discovery Regional Sports Networks May File for Chapter 7 Bankruptcy |
| Roman Catholic Diocese of Sacramento Could Be Considering Bankruptcy |
| Carvana Doesn't Say the Word 'Bankruptcy,' but Its Situation Is Alarming |
| Top 50 Biglaw Firm Announces Layoffs |
| Stellantis to Cut Up to 2,000 Workers in Italy This Year |
| Thiel’s Palantir Cuts Almost 2% of Staff to Reduce Costs |
| Bending Spoons Lays Off 129 Evernote Staffers |
| Nearly 300 Employees of Memphis Car Center Laid Off |
| Sports Valuation Bubble: Pending US Bankruptcy Is Warning to Moguls |
| Diamond Sports Group, LLC’s Potential Bankruptcy and Its Effects on MLB, NHL & NBA Teams |
| With Layoffs, Triangle H-1B Holders Have 60 Days to Find New Jobs or Face Deportation |
| General Motors Cuts 500 Salaried Employees |
| QVC Parent Company Qurate Lays Off 400 as Part of Turnaround Plan |
| Everett Schools May Slash 140 Jobs |
| Hundreds of Apex Legends Playtesters Laid Off During EA Zoom Call |
| Ticketing Service Provider Eventbrite to Lay Off 8% of Workforce, Relocate Roles to India, Spain |
| Laid-Off Meta Cafeteria Workers Ask for the Same Severance as the Company’s Employees |
| Marshfield Clinic Health System Announces 364 Layoffs |
| G1 Sheds Staff While Sorrento WARNs of Cuts Amid Torrential Downpour of Industry Layoffs |
| Alphabet’s Robotaxi Unit Waymo Says It Laid Off 8% |
| Thoughtworks Lays Off Around 500 Employees Amid Ongoing Slowdown |
| Charleston-Area Digital Services Hub to Cut 266 Jobs |
| AT&T SportsNet, Another Regional Sports Network, Could Be Declaring Bankruptcy This Month |
| Vice Media Taps Restructuring Guru Amid Bankruptcy Rumors |
| Bright Health Staring Down Bankruptcy, Needs to Raise $300M, Execs Say |
| Citigroup Cuts Hundreds of Jobs, Including in Investment Banking and Mortgage Units |
| Swab Maker Puritan Furloughs 251 Workers |
| Zscaler Discloses Layoffs for 3 Percent of Employees, 177 Jobs |
| Sonder to Lay Off 14 Percent of Corp. Workforce |
| Novo Nordisk Laying Off 86 |
| Novavax Tumbles After Warning of ‘Substantial Doubt’ Over Future |
Retail Restructuring News
| Tuesday Morning Can Liquidate - As Long as There's No Loud Noise or Flashing Lights |
| Revlon Reaches Lender Settlement, Sends Bankruptcy Plan to Vote |
| The Running List of Major Retail Bankruptcies |
| Party City to Close 22 Stores After Filing for Bankruptcy |
| Bed Bath & Beyond Dives 50% in February - It's Second-Worst Monthly Performance Ever - As the Meme Stock Teeters on the Edge of Bankruptcy |
| Four Major Retailers That Filed for Bankruptcy Already This Year During ‘Retail Ice Age’ - See Locations Shuttering |
| Best Buy to Close as Many as 30 Stores This Year |
| Pier 1, RadioShack Owner Seeks Funding for Possible Bankruptcy |
Notable Filings
| Window Select Officially Enters Chapter 11 Bankruptcy |
| LexaGene Files for Chapter 7 Bankruptcy |
| Dallas-Based Corner Bakery Files for Bankruptcy |
| Beverly Biotech Company Closes, Files for Bankruptcy |
| Corner Bakery Files for Bankruptcy Protection as Office Worker Customers Stay Home |
| HyreCar to Facilitate Sale of Business Through Voluntary Chapter 11 Process, Announces Leadership Changes |
| FDA Authorizes First COVID-19 and Flu Test, But Its Maker Files for Bankruptcy |
| Stratford University Files for Bankruptcy; President, Vice President Listed as Biggest Creditors |
| Stalled Dillon Condo Project, Uptown 240, Files for Bankruptcy Day Before Foreclosure Auction |
| Brazil's Oi Files for Second Bankruptcy Protection Process |
| Moving Concierge Startup Kandela Declares Bankruptcy |
Legal Issues
| Landlords Beware: The Bankruptcy Court for the Southern District of New York Reverses Course on the Calculation of Lease Rejection Damages in Bankruptcy |
| Justices Narrow Bankruptcy Relief from Debts Incurred by Fraud |
| SCOTUS Holds Fraud-Discharge Exception Extends to All Debts Procured by Fraud Irrespective of Debtor's Culpability |
| Core Scientific Bankruptcy Approves $70M Financing Deal From B. Riley |
| Bankruptcy Court Approves Buyout of Borrego Health by Palm Springs’ DAP |
| Applying the Barton Doctrine, the Fifth Circuit Deepends Its Schism with the Eleventh |
| A Possible, But Narrow, Path for Cannabis in Bankruptcy Court |
| ‘Classic Ponzi Scheme’: Angry Creditors Lambast CEO of Kansas Asset-Swap Business in Court Records |
| The 3rd Circuit’s Bankruptcy Gift to the Trial Bar |
| Columbus Asks Court to Dismiss Bankruptcy Filing by Latitude Five25 Owners |
| Voyager Bankruptcy Judge Says He Is ‘Absolutely Shocked’ by SEC Objection to Binance.US Deal |
Feature Articles
| Recession Will Grip the US Economy Within Months - and Wall Street Is Lying About a 'No Landing' Scenario, Top Economist David Rosenberg Says |
| RMF Approved for $15M in Bankruptcy Financing |
| Economists’ Crystal Balls Are Growing Cloudier. But They Still Expect a Recession |
| Rescue Binancing, Bankman-Fraud? New Cases on the Block. |
| The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales |
| Austin: Office Buildings Get $102M in Bankruptcy Sale |
| Cineworld Looks at Rescue Proposals Amid Bankruptcy Proceedings |
| Bankrupt Florida Property Insurer Placed into Receivership |
| Death, Bankruptcy, and the Public Hospital |
| The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales |
| FTX Bankruptcy - A Failure of Centralized Governance in the Name of Decentralized Cryptocurrencies |
| Mt. Gox Bankruptcy Repayments Unlikely to Destabilize Bitcoin: UBS |
| Proposed UCC Amendments: Old Article 9 & New Article 12 |
| US Economy Sending Mixed Signals: Here’s What It All Means |
| 97% of Voyager Digital Creditors Approve Bankruptcy Plan After Market Regulator Objections |
| Bankruptcy Rate of US-Based Firms Hit Highest Levels Since 2010 |
| 32,000 Voyager Customers May Be on the Hook for Bankruptcy Clawbacks |
| FTX Has ‘Massive Shortfall’ in Assets, Say Bankruptcy Lawyers |
| Cannabis Employee Not Entitled to Federal Bankruptcy |
| Not Very Many “Soft Landing” Signals in the News These Days: How the US Can Stick the Landing, Beat Inflation, and Avoid a Recession |
| US Home Prices Could Plunge 20% Amid Risk of 'Deep' Housing Slide, Fed Economist Warns |
| Fed's Waller: If Data Stays Hot, Policy Rate Should Go Above 5.1%-5.4% |
| Bankrupt California Clinic Chain's Acquisition Approved |
| Bankruptcy Lawyers Uncover $2.2 Billion Worth of Crypto Assets in FTX-Linked Wallets |