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
Multi-Color Creditors Lose Third Circuit Bid to Move Bankruptcy
A group of Multi-Color Corp. creditors lost their Third Circuit request to immediately dismiss the printing company’s Chapter 11 case or transfer it from New Jersey to another venue. The minority creditor group challenged Multi-Color’s venue choice when it filed for Chapter 11 in January in the New Jersey bankruptcy court. The creditors said the company’s connection to that state is based on two bank accounts created by a subsidiary called MCC-Norwood LLC.
(Source: Bloomberg Law | February 25, 2026)
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Spirit Strikes Deal With Noteholders to Exit Bankruptcy
Spirit Aviation Holdings Inc. has struck an agreement with noteholders that will allow the U.S. budget airline to exit bankruptcy later this year, capping a tumultuous period marked by strained finances and competitive pressure. Spirit lawyer Marshall Huebner said during a New York court hearing that the company has reached a deal with a key creditor group on the terms of the Chapter 11 exit plan that will trim billions of dollars in debt and reduce the cost of its fleet.
(Source: Yahoo Finance | February 24, 2026)
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QVC Is in Creditor Talks to Restructure Debt in Bankruptcy
QVC Group Inc. is engaged in confidential negotiations with creditors on a voluntary debt restructuring that could be implemented through a Chapter 11 filing, as the home‑shopping network faces declining viewership and a heavy debt load. While terms are not finalized and no filing decision has been made, the discussions focus on simplifying a complex balance sheet and easing the company’s debt burden, illustrating how out‑of‑court talks can segue into court‑supervised restructurings.
(Source: Bloomberg | February 10, 2026)
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Eddie Bauer Store Operator Files for Bankruptcy, Seeks Sale
Eddie Bauer LLC filed for bankruptcy protection in New Jersey, beginning liquidation sales at 180 of its outdoor apparel stores in the U.S. and Canada, while keeping the door open for a buyer to acquire the company’s entire brick-and-mortar retail business. The retail company has $1.7 billion in debt, according to its court filings.
(Source: Reuters | February 9, 2026)
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Houston-Based Energy Company Files Chapter 11 Bankruptcy
Houston-based Nine Energy Service Inc. has filed for Chapter 11 bankruptcy protection and plans to restructure. Nine’s subsidiaries in the U.S. and Canada are included in the filing, but its operations in Norway are not. According to court documents, the debtors had approximately $388 million in total funded debt obligations as of the Feb. 1 petition date.
(Source: Yahoo Finance | February 2, 2026)
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Grand Slam Track Files for Chapter 11 Bankruptcy, Citing $40m in Debts
Grand Slam Track filed for Chapter 11 bankruptcy protection in a court filing last week, citing more than $40 million in debts and less than $1 million in total assets. The league, led by four-time Olympic gold-medalist sprinter Michael Johnson who serves as the commissioner, claimed it would treat track athletes as true professionals and "revolutionize the track landscape" by signing 48 of the world's best athletes and having them compete in four events with a $12.6 million prize pot.
(Source: Reuters | January 29, 2026)
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