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
11.2 million SOL from the FTX bankruptcy auction to be unlocked in March
February 17, 2025 (MSN.com)
Beleaguered crypto exchange FTX is preparing to unlock 11.2 million Solana (SOL) tokens, valued at approximately $2.06 billion, on March 1.
Numinus Wellness Inc. Announces Strategic Wind-Down of Non-Operating Subsidiaries
February 14, 2025 (Yahoo! Finance)
Numinus Wellness Inc., a mental healthcare company advancing traditional and innovative behavioral health treatments including safe, evidence-based psychedelic-assisted therapies, today announced that its Board of Directors has approved the wind-down of certain non-operating subsidiaries as part of the Company's efforts to simplify its corporate structure and concentrate resources on its core business areas.
JCPenney to close 8 locations in 2025. Is your store closing? See the list.
February 13, 2025 (AOL)
JCPenney will close eight locations this year, a company spokesperson said, adding to the list of more than 200 closures since the company filed for bankruptcy five years ago.
Stores Closing in the U.S. in 2025: Joann, Quiksilver, Macy’s, Kohl’s and More Companies Facing Financial Challenges
February 13, 2025 (Yahoo! Life)
2025 started with the announcement of store closures by Kohl’s and Macy’s, which are shutting down several locations in the country in the upcoming months.
Denny’s to close dozens more restaurants in 2025
February 13, 2025 (MSN.com)
Denny’s was already planning on closing 150 low-performing restaurants by the end of 2025, but now the company says even more locations will shutter this year.
Spirit Airlines rejects acquisition offer from Frontier Group again
February 11, 2025 (Reuters)
Spirit Airlines on Tuesday rejected Frontier Group's revised acquisition offer, worth about $2.16 billion, saying the bid from its fellow ultra-low-cost carrier was less beneficial to shareholders than its ongoing reorganization plan.
Market Conditions Not Ideal for Aeromexico IPO in New York, CEO Says
February 11, 2025 (U.S. News & World Report)
Market conditions are currently not ideal for Mexican airline Aeromexico to list in New York, the firm's CEO said on Tuesday, after plans to go public were delayed last year.
