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
Consortium set to buy bankrupt German retailer Galeria, sources say
April 9, 2024 (Yahoo! Finance)
A consortium led by the US private investment firm NRDC Equity Partners and German businessman Bernd Beetz plan to buy bankrupt German department store chain Galeria Karstadt Kaufhof, dpa learned from sources close to the negotiations.
Retailer 99 Cents Only Files for Bankruptcy, Plans to Shut Down
April 8, 2024 (U.S. News & World Report)
Budget retailer 99 Cents Only filed for Chapter 11 bankruptcy protection in Delaware on Sunday, saying that it intended to close all of its 371 stores in the U.S. and sell off its real estate and remaining inventory.
Will Broadcast’s Local Sports Comeback Stand Up?
April 8, 2024 (Yahoo! Sports)
The implosion of the regional sports network business has allowed local broadcasters to step into the breach with live local pro-sports telecasts. The question now is: Can stations keep and even grow their sports stature, or will they get stuck on the bench once direct-to-consumer operations hit their stride?
Shoe Brand Icon Hits Bankruptcy Despite $100 Million Bet in the Ruthless Fight Against Nike
April 6, 2024 (MSN.com)
In the world of sneakers and casual footwear, where titans like Nike command the landscape, finding a niche that allows a brand to stand tall is akin to searching for a needle in a haystack.
Rite Aid plans to close 2 more Sacramento-area locations amid bankruptcy. See where
April 5, 2024 (Yahoo! News)
After filing for Chapter 11 bankruptcy in October, Rite Aid has listed new store locations set to close.
Bankruptcy over for PREIT, owner of Cherry Hill, Moorestown malls; what’s next?
April 4, 2024 (Yahoo! Finance)
The owner of two South Jersey malls has emerged from bankruptcy after shedding about $850 million in debt.
Maker of Amphibious Aircraft Files Bankruptcy, Considers Sale
April 4, 2024 (Bloomberg)
ICON Aircraft Inc., a company that makes amphibious aircraft for recreational flying, has filed bankruptcy.
Retailers like Peloton and Saks keep paying vendors late, signaling possible ‘financial distress’
April 4, 2024 (CNBC)
In the months before Bed Bath & Beyond declared bankruptcy last April, the former home goods titan was trapped in a crushing cycle.
