Bankruptcy News

• The US Government Avoided Default, But Many Companies May Not Be So Lucky
  
  Bankruptcy filings by Diebold Nixdorf, Wesco Aircraft Holdings, and GenesisCare made headlines but the number of companies defaulting will likely grow going forward.
  Forbes.  Friday, 9 Jun 2023.
• Here's where a possible sale of Bed Bath & Beyond and Buy Buy Baby stands
  
  The bankruptcy-run sale of Bed Bath & Beyond and Buy Buy Baby has once again been delayed as the company continues talks with potential bidders.
  CNBC.  Friday, 9 Jun 2023.
• South Park Creators Spent 'Infinity Dollars' Renovating Iconic Colorado Restaurant, Set to Reopen Soon
  
  Casa Bonita, a long-time favorite of South Park creators Trey Parker and Matt Stone, went bankrupt during the pandemic. The duo purchased and painstakingly renovated the Mexican spot "like a piece of art," Stone said.
  Entrepreneur.  Wednesday, 7 Jun 2023.
• Musk concedes Twitter's ad revenue has halved and says advertisers are trying to drive it bankrupt
  
  Musk confirmed on Monday that Twitter's advertising revenue had halved and blamed advertisers in America for 'trying to drive Twitter bankrupt'.
  Daily Mail.  Tuesday, 6 Jun 2023.
• Oncorus (ONCR) Dips 37% on Layoff Plan & Bankruptcy Threat
  
  Oncorus (ONCR) decides to lay off nearly all of its workforce since it is facing challenges in raising additional capital. This lay off is expected to be completed by August 2023.
  Zacks.  Monday, 5 Jun 2023.
• Buy Buy Baby draws sale interest in Bed Bath & Beyond bankruptcy, one bidder looks to save stores
  
  At least two bidders are looking to purchase Buy Buy Baby amid Bed Bath & Beyond's bankruptcy, including one that wants to keep 75% of stores open.
  CNBC.  Friday, 2 Jun 2023.
• Judge: DSG must fully pay MLB teams' contracts
  
  A bankruptcy judge ruled that Diamond Sports Group needs to pay out the remaining 25% of its contracts with the Twins, Guardians, Diamondbacks and Rangers.
  ESPN.  Thursday, 1 Jun 2023.
• Judge: Diamond Sports must pay full value of contracts to Diamondbacks, Guardians, Twins, Rangers
  
  A federal bankruptcy judge has ordered Diamond Sports to pay the full value of its media contracts to the Arizona Diamondbacks, Cleveland Guardians, Minnesota Twins and Texas Rangers.
  Washington Times.  Thursday, 1 Jun 2023.
• Mercer (MERC) Receives Court Approval to Acquire Structurlam
  
  Mercer International (MERC) gets bankruptcy court approval to acquire Structurlam Mass Timber. The acquisition is set to boost its product offering.
  Zacks.  Wednesday, 31 May 2023.
• DAVID MARCUS: This $4 trillion spending splurge 'deal' to raise debt limit will bankrupt America
  
  MARCUS: Let's be honest: this 11th-hour compromise was as inevitable as it is depressing, with no real winner, and just one big loser - the American people.
  Daily Mail.  Tuesday, 30 May 2023.
• Trustee of bankrupt bank falls to death from 15th floor of building
  
  "Who was interested in silencing the trustee?" said the head of Bolivia's lower house of Congress.
  CBS News.  Tuesday, 30 May 2023.
• World's second largest cinema chain to exit bankruptcy
  
  Cineworld is to exit bankruptcy in July, the world's second largest cinema operator announced on Thursday.
  Sky News.  Thursday, 25 May 2023.
• Retail On Edge: Debt Ceiling, Interest Rates, China, And Biden Trade Policy
  
  The debt crisis has heightened awareness of the cost of money & inventory. Couple that with high interest rates and a slow consumer spend & retail bankruptcies could rise.
  Forbes.  Wednesday, 24 May 2023.
• Sam Zell, 81, Tycoon Whose Big Newspaper Venture Went Bust, Dies
  
  With a fortune made in real estate, he went into the media business in a landmark leveraged buyout of the Tribune Company in 2007. Bankruptcy ensued.
  New York Times.  Thursday, 18 May 2023.
• Sam Zell, business tycoon who drove the L.A. Times into bankruptcy, dies
  
  Known as 'the Grave Dancer,' Zell was an unlikely media baron when he purchased the Tribune Co.
  Los Angeles Times.  Thursday, 18 May 2023.

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