AGG’s Restructuring Roundup newsletter is a monthly update of legal issues and news affecting or related to commercial litigation and bankruptcy. The newsletter is a curation of published articles and news, and contains original content developed by AGG’s Bankruptcy, Creditors’ Rights, & Financial Restructuring attorneys.
Industry News
Essential retailer closing dozens more stores in bankruptcy
January 21, 2024 (MSN.com)
Challenges for brick-and-mortar retailers, such as underperforming stores and chronic retail theft, has led retail operators to close stores to ease financial distress.
Why Spirit Airlines Stock Is Plunging Yet Again Today
January 18, 2024 (MSN.com)
Spirit Airlines is reportedly scrambling for ways to deal with its debt, the latest indication of the troubles the company faces if it unable to merge with JetBlue Airways. Investors are scrambling for the exits, sending Spirit shares down 28%.
Bitcoin Miner Core Scientific Set to Emerge From Bankruptcy
January 17, 2024 (Trading View)
Core Scientific, Inc., a major bitcoin miner, is about to emerge from Chapter 11 bankruptcy.
Amazon will invest in Diamond Sports as part of a bankruptcy restructuring agreement
January 17, 2024 (CBS News)
Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy.
Your Evening Briefing: Markets Slide After Fed Tamps Down Rate-Cut Talk
January 17, 2024 (Bloomberg)
Investors want an interest-rate cut. The Federal Reserve isn’t so sure the economy needs one yet. And now traders are throwing a tantrum.
Malpractice plaintiffs seek to end prison health co. bankruptcy
January 17, 2024 (Reuters)
Lawyers for prisoners suing Corizon Health over allegedly substandard medical care in U.S. prisons have asked a bankruptcy judge to toss the Chapter 11 case of a Corizon subsidiary, saying the prison healthcare provider's bankruptcy was a fraud from the start.
Brazil's Gol Says Restructuring Details Undefined After Report on Potential Bankruptcy
January 16, 2024 (U.S. News & World Report)
Brazilian airline Gol said on Tuesday it is discussing how to reach a "consensual" restructuring with financial stakeholders, following a media report that it was mulling filing for Chapter 11 bankruptcy protections in the United States.
Popular craft beer brand files for Chapter 11 bankruptcy
January 16, 2024 (MSN.com)
U.S. beer sales had a rollercoaster year in 2023, led by a huge drop in sales of Anheuser-Busch In-Bev's (BUD) - Get Free Report Bud Light product after rock star Kid Rock in April 2023 called for a boycott of the brand following the company's partnership with transgender influencer Dylan Mulvaney on a March Madness-themed social media post.
Trendy fast food chain files Chapter 11 bankruptcy
January 16, 2024 (MSN.com)
While fried chicken sandwiches have become a key part of the menu for Popeye's, Burger King, and McDonald's, a sort of side trend has developed — Nashville Hot Chicken. Now, one of the leading chains in the Nashville Hot Chicken space has filed for Chapter 11 bankruptcy.
Black Press Announces Corporate Restructuring and Sale Transaction
January 15, 2024 (Associated Press)
Black Press Ltd. and certain of its subsidiaries (collectively “Black Press” or the “Company”), announced today that it obtained an Initial Order on January 15, 2024 (the “Initial Order”) under the Companies’ Creditors Arrangement Act (the “CCAA” and the Company’s proceedings thereunder, the “CCAA Proceedings”) from the Supreme Court of British Columbia (the “Court”) in Vancouver.
