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Five Retailers That May Face Bankruptcy In 2024
Sam Ash Music Hits Ch. 11, Plans To End 100-Year Retail Run
Meet The Attys For Cybersecurity Firm Appgate's Ch. 11
Five Retailers That May Face Bankruptcy In 2024
Clothing stores, a discount retailer and a prominent fabrics business have already filed for bankruptcy protection this year, each struggling in their own way in the post-pandemic economy. Here are five more companies that may be at risk of filing for bankruptcy in 2024.
Sam Ash Music Hits Ch. 11, Plans To End 100-Year Retail Run
Sam Ash Music, a 100-year-old music instrument retailer, filed for Chapter 11 protection in New Jersey bankruptcy court with up to $500 million in debt and plans to close its 42 stores in the U.S., citing weakened sales as customers shifted to online shopping during the COVID-19 pandemic.
Meet The Attys For Cybersecurity Firm Appgate's Ch. 11
A team of attorneys from Kirkland & Ellis LLP and Cole Schotz PC are representing technology firm Appgate Inc. in its Chapter 11 bankruptcy in Delaware, which began Monday roughly three years after its initial public offering backed by $1 billion in investments.
Expert Analysis
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Large Cap More
Vinson & Elkins LLP urged a Virginia bankruptcy court on Thursday to reject "outrageous claims" by the U.S. Trustee's Office that the law firm shouldn't be allowed to represent Enviva in the wood-pellet maker'... (more story)
The parent company of sports network operator Bally Sports has asked a Texas bankruptcy judge to approve renewed multiyear contracts with DirecTV, saying the revenue from the deal is a "critical component" of ... (more story)
Unsecured creditors of the bankrupt Roman Catholic Diocese of Syracuse have asked a New York judge to hold insurers Interstate and an affiliate of Allianz in contempt for sharing confidential sex abuse survivo... (more story)
Medical Properties Trust, a healthcare real estate investment trust, lost $736 million in the first quarter of the year from the financial collapse of Steward Health Care, a major tenant, and the write-off of ... (more story)
In a flurry of filings, a former shareholder in an engineering company has pushed a Texas federal court to reject bids to throw out his lawsuit over an ex-bankruptcy judge's secret relationship with a former J... (more story)
A New York state court should not undo a jury's finding that the National Rifle Association allowed its officers to misappropriate $6.4 million of donor money, the state's attorney general has argued, saying t... (more story)
Bankrupt cryptocurrency exchange FTX Trading Ltd. has claimed its proposed Chapter 11 plan would be able to pay creditors in full with a $13 billion distribution that exceeds the estimated allowable $11.2 bill... (more story)
Lawmakers in the U.S. House of Representatives on Wednesday voted to overturn the U.S. Securities and Exchange Commission's controversial cryptocurrency accounting guidance despite protests from Democrats to t... (more story)
A Delaware bankruptcy judge on Wednesday approved discount store 99 Cents Only's full $60.8 million Chapter 11 financing deal after rejecting a group of noteholders' objection to the relief, finding an intercr... (more story)
Pharmacy retail chain Rite Aid got the green light Wednesday from a New Jersey bankruptcy judge to sell most of its coaching and analytics division, Health Dialog, to healthcare technology firm Carenet Health ... (more story)
Mid Cap More
Dallas toy company KidKraft Inc. filed for Chapter 11 protection in a Texas bankruptcy court Friday with more than $100 million in debt, blaming economic headwinds and saying it has a prepackaged sale plan.
A Delaware bankruptcy judge on Thursday agreed to grant the liquidation trustee for a defunct poultry producer approval to sell the company's assets to a competitor for $7.1 million, overruling a limited objec... (more story)
A Delaware bankruptcy judge Thursday gave sleep apnea device maker ProSomnus interim permission to tap into $13 million in Chapter 11 financing to fund the company through what it says will be the end of its case in August.
A Delaware bankruptcy judge Wednesday agreed to give interim approval for technology firm Appgate Inc. to tap $8 million of its debtor-in-possession financing to fund its way through its prepackaged bankruptcy.
Seattle-based life sciences firm NanoString Technologies Inc. has asked a Delaware bankruptcy judge to let it send its amended Chapter 11 liquidation and wind down plan, which would use money from the $393 mil... (more story)
A dispute over professional fee applications in the Chapter 11 case of shipping company Eletson Holdings was largely resolved Wednesday in a New York bankruptcy court, but questions about fees incurred by lawy... (more story)
In light of its recent bankruptcy filing, a Texas federal judge has paused class claims against a beleaguered Texas law firm accused of misconduct in soliciting clients in hurricane-related property damage cas... (more story)
A Delaware bankruptcy judge Wednesday gave final approval to Icon Aircraft's $9 million in Chapter 11 financing and a June asset auction after the light-sport aircraft maker said it had resolved objections by ... (more story)
California-based ProSomnus, which produces devices to prevent sleep apnea, said a balance sheet heavy with more than $41.5 million in debt and difficulty in funding its continued operations forced it to file f... (more story)
The U.S. Securities and Exchange Commission said bankrupt crypto firm Terraform Labs should remain on the hook for potentially $3.6 billion in disgorgement over its fraud trial loss, saying any claims that its... (more story)